Red Mountain gears up for gold exploration at Koonenberry
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Red Mountain will carry out a passive seismic survey to help unlock the potential of its Koonenberry gold project in northwestern New South Wales.
This follows a site visit which confirmed that such a survey would be suitable to yield the best results in relation to identifying deeper mineralised structures.
Red Mountain Mining’s (ASX:RMX) initial reconnaissance visit was conducted to confirm historical structural observations and evaluate priority areas for planned geophysical surveys and sampling programs.
The visited historical occurrences were either narrow quartz veins within the predominantly north-northwestern striking Jeffrey’s Flat “slate” unit or alluvial workings in proximity to meandering streams on steep dipping slate.
Areas with the most visible evidence of historical activities were the alluvial workings at Evan’s Gully and Gum Vale, which features a structural narrow vein.
All observed historical gold workings are located within proximity to the north-northeast trending schist belt though the northern occurrences tend to be of alluvial nature while the southern occurrences are vein hosted.
Red Mountain added that the central area appears to contain more sedimentary accumulations, which could be attributed to structural weaknesses, possibly acting as conduits for mineralisation, covered by younger sediments.
It is now in the advanced stages of preparing for the seismic survey as soon as possible.
Koonenberry covers about 657sqkm of prospective ground in a geological setting that is considered to be analogous to prolific goldfields in Victoria.
It straddles the northern extension of the Koonenberry Gold Field and the contained New Bendigo Fault. Meanwhile, soil and stream sampling along the Warratta structural corridor returned encouraging results.
Notably, the project is adjacent to Manhattan Corporation’s (ASX:MHC) adjoining Tibooburra project where recent aircore drilling intersected a new zone of gold mineralisation with further drilling currently underway.
This follows on from drilling in 2020 that hit a top result of 5m grading 20.86 grams per tonne (g/t) gold from 11m.
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.