Red Mountain expands Idaho antimony portfolio with Silver Dollar mine

• Red Mountain Mining expands Idaho antimony footprint by 80% with Silver Dollar acquisition
• The historical mine produced ore averaging 17.7% antimony and has significant untested potential
• Initial exploration will focus on mapping and sampling to identify potential drill targets

Special Report: Red Mountain Mining is expanding its antimony footprint in Idaho by 80% with the acquisition of the Silver Dollar project, which hosts a historical mine.

Silver Dollar is southeast of the company’s new Yellow Pine antimony project and features multiple antimony and gold occurrences, including a 10m deep shaft sunk into fractured granodiorite in 1944 to target a massive stibnite vein measuring up to 1m thick.

Notably, the stibnite vein mineralisation is related to an east-northeast striking, steeply north-dipping fault and the granodiorite host is part of the Cretaceous Idaho Batholith, an analogous geological setting to Perpetua Resources’ advanced Stibnite gold-antimony project.

The historical Silver Dollar mine contained within the project produced ore at an average grade of 17.7% Sb while the US Geological Survey mineral database shows 14.6% Sb and 6.3ppm silver from a stockpile sample.

Acquiring the project provides Red Mountain Mining (ASX:RMX) with increased scale in the central Idaho region and as well as its North American antimony-gold portfolio.

It also advances the company’s strategy of acquiring highly prospective projects using internal resources while increasing expertise and knowledge in the US critical metals space to increase shareholder value without the cost of external vendors.

This is valuable as achieving scale is believed to be a significant long-term competitive advantage in the US critical minerals sector.

Silver Dollar project

Silver Dollar encompasses four known alluvial gold and two antimony mineral occurrences, including the Silver Dollar mine – which features a 10m deep shaft sunk into fractured granodiorite in 1944.

The granodiorite host at Silver Dollar is part of the Cretaceous Idaho Batholith, the same intrusive suite that hosts the Stibnite project.

Mineralisation is structurally controlled along early Tertiary north-south striking regional scale faults and smaller northeast-striking splays.

Despite previous production, the project is believed to have significant untested potential for additional antimony, gold, silver, uranium and possibly mercury mineralisation.

This is likely to occur as pods or shoots where secondary structures intersect each other and the main east-northeast striking fault that cuts across the Silver Dollar claims.

However, there has been very limited exploration over the area.

Initial exploration at the new project will focus on mapping and sampling where appropriate along the main east-northeast striking fault.

This is aimed at finding evidence of intersecting secondary structures, hydrothermal fluid flow, brecciation, alteration and antimony mineralisation that will then be targeted for drilling.

This article was developed in collaboration with Red Mountain Mining, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.