What lies beneath at Mt Maitland?
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An IP survey is underway to detect potential high-grade accumulations of precious and base metals at Red Mountain’s Mt Maitland project in WA.
IP surveys, which can detect changes in electric currents caused by different rocks and minerals beneath the surface, are often used by explorers to dial in on drilling targets.
Red Mountain Mining (ASX:RMX) is targeting two mineral rich prospects at Mt Maitland — Maitland South Gold and Jacia.
The company wants to identify accumulations of sulphides below current drilling, potentially related to higher grade gold and base metals mineralisation.
This will help focus deeper follow-up drilling.
Maitland South Prospect is a +550m long mineralised ‘shear zone’ dotted with numerous historical workings and shafts. Shear zones can act as ‘pathways’ for ancient, mineralised fluids.
Shallow drilling by Red Mountain has already returned multiple significant intercepts, such as:
7m at 3.3g/t gold from 34m, inc. 1m @ 12.7g/t from 37m
13m at 2.53g/t from 9m, inc. 6m @ 6.6g/t from 13m
The IP survey could pinpoint sulphide rich horizons that may exist below the current window of drilling “which may relate to thick zones of higher grade mineralisation”, the company says.
Jacia is a multi-element copper-zinc-gold-silver soil anomaly, where ‘rock-chipping’ has returned promising values of 1.94g/t gold, 7.4% copper, 0.96% zinc and 58.6 g/t silver.
This geochemical anomalism and historical workings outline the Jacia Trend for +800m.
The IP survey will attempt to identify areas of sulphide accumulations that could represent copper sulphides and/or sulphides related to precious metal mineralisation.
The survey is expected to be completed within a week with interpretation of results expected towards the end of March, Red Mountain says.
“It is envisaged that drilling of prioritised anomalies will be undertaken promptly thereafter subject to necessary approvals and drill rig availability,” it says.
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.