Red Mountain poised to drill priority targets at Mt Maitland
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Red Mountain has locked in two priority targets at its Mt Maitland gold and base metal project in WA’s Murchison region for imminent drilling.
The two targets at the Mt Maitland South and Jacia prospects are located below the depth and on trend of current exploration drilling and were identified by the recently completed induced polarisation (IP) survey that was doubled in size due to encouraging early results.
Notably, subsequent stages of exploration can now be accelerated following the identification of targets associated with precious and base metal mineralisation.
Red Mountain Mining (ASX:RMX) plans to kick off diamond drilling of the two targets later this month or early May having already secured government approvals and a drill contractor.
Jacia is interpreted to be prospective for volcanogenic massive sulphide-style precious and base metal mineralisation on the western margin of the Maitland Greenstone Belt, which hosts well-known deposits such as DeGrussa, Monty and Horseshoe Lights.
The IP target is coincident to an area of structural interest and potential hydrothermal activity interpreted in airborne magnetic imagery.
It is believed to be related to disseminated sulphide mineralisation at depth and is considered to be prospective for both precious and base metals.
Additionally, the target is also host to a historical gold and copper working where malachite mineralisation along with sheer hosted quartz veining were observed.
Rock chip samples from the workings and along the Jacia trend returned results such as 1.94 grams per tonne (g/t) gold, 7.4 per cent copper, 0.96 per cent zinc and 58.6g/t silver.
Mt Maitland South is a +500m long gold mineralised shear zone that is characterised by extensive historical workings and shafts.
Previous drilling and geochemical work by Red Mountain and previous explorers has identified multiple mineralised intersections throughout the zone.
The target is a moderate to high amplitude chargeability anomaly that is located directly below key drill intercepts such as 13m at 2.53g/t gold from 9m including 6m at 6.6g/t gold from 13m.
This anomaly is interpreted to consist of disseminated sulphide mineralisation significantly higher in concentration than previously encountered in zones located along the mineralised shear.
Both targets will be tested with a single diamond hole each.
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.