There’s gold all over the place at Red Mountain’s Mt Maitland project
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Special Report: Red Mountain (ASX:RMX) is picking up gold nuggets off the ground at the Mt Maitland project, ahead of a maiden drill program which will kick off in the next 7-10 days.
Red Mountain’s 62sqkm Mt Maitland project in the prolific Murchison region of WA produced gold at an average grade of 19.3 grams per tonne (g/t) in the early 1900s.
That’s very high grade.
More recently, a Red Mountain employee discovered this weighty gold nugget while prospecting within the Mt Maitland tenure — an illustration of the project’s potential:
Stretching out over 19km of highly prospective Archean greenstone belts, there’s significant potential for this project to host more high-grade shear-hosted gold deposits, the company says.
The most recent work was carried out by Talisman Mines in 2011, when drilling at the Mt Maitland South prospect returned 12m at 1.58g/t gold from 8m including 2m at 6.35g/t gold and 13m at 2.53 g/t gold.
Red Mountain recently expanded its tenement holding with an application lodged over tenure to the north, which captures a continuation of these trends.
Additional geological mapping during the recently completed heritage survey has assisted to ‘vector’ the company’s maiden drill programme.
With heritage clearance surveys and pre-drilling earthworks now completed, the 18 hole, 1,300m drilling campaign is expected to commence within the next 10 days.
This story was developed in collaboration with Red Mountain, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.