Red Mountain unearths 32 rare earth targets at Mt Mansbridge
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Special Report: Red Mountain Mining has unearthed a remarkable 32 priority rare earth targets at its Mt Mansbridge project in WA.
Red Mountain (ASX:RMX) today announced the results of its assessment of radiometric data compiled in December at the company’s 100% owned Mt Mansbridge heavy rare earth element (HREE) project in the state’s north.
The results highlighted an impressive 32 radiometric targets along 33km of prospective unconformity. The company said the results were particularly encouraging as they validated airborne radiometric surveying as an effective method for identifying areas that contain HREE mineralisation.
Red Mountain is well into the planning stages of negotiating access with the traditional owners, and all going to plan will commence an initial reconnaissance trip to review the prioritised targets in the second quarter of this year.
RMX plans to have all approvals in place to facilitate the commencement of drilling in June 2021 – an impressive outcome.
The next phase for Red Mountain will be to continue the assessment at Mt Mansbridge and Mt Mansbridge South, along with the Killi Killi HREE prospect.
The results come at a good time for Red Mountain. Australia rates fourth in the world for rare earth production and with the world’s focus now shifting more towards renewable energy and supply constraints looming, these minerals are expected to only increase in their significance.
Red Mountain acquired Mt Mansbridge in October last year.
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.