Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Red Mountain Mining has begun groundwork at the Mt Kokeby HPA project in Western Australia
  • Collected samples will be analysed to determine the necessary purity for an HPA project
  • The company is also seeking to fast track the exploration and development of the Mt Mansbridge project to keep up with the growing demand for lithium ion batteries in electric vehicles
  • Red Mountain’s share price has remained steady with shares trading for 0.5 cents apiece

Red Mountain Mining has begun groundwork at the Mt Kokeby kaolin/HPA project in Western Australia.

As part of the extensive due diligence program on Mt Kokeby, Red Mountain is conducting channel sampling across a number of faces of the historic pit at the Murray kaolin deposit.

Samples will be assayed in a laboratory to assess the potential for a DSO (direct shipping ore) project and will also be used to determine suitability to achieve the necessary purity for a high purity alumina project.

Additional due diligence will include a drill program to verify certain portions of drill work conducted in the early 1970s.

In order to complete these program, Red Mountain has concluded its technical, financial and legal due diligence on the Mt Mansbridge Rare Earth project.

The Mt Mansbridge Rare Earths Project is located in the Kimberly region of Western Australia, approximately 130 kilometres south east of Halls Creek.

It consists of two adjoining granted exploration licences, E80/5111 and E80/5229, and covers a total area of 242 square kilometres.

The project is prospective for rare earth elements (REE) and nickel-cobalt.

Mt Mansbridge has been subject to exploration activities since the 1970s, primarily for uranium, gold, diamonds and the presence of REEs.

In response to the security of REE supply and the global demand for battery minerals, due to the rapid growth of lithium ion batteries for electric vehicles, Red Mountain is seeking to fast track the exploration and development of the Mt Mansbridge project.

The project is important due to the potential for xenotime mineralisation which is known to contain significant amounts of Dysprosium.

Dysprosium is used in permanent magnets and allows them to retain their magnetic properties even at high temperatures. This property is extremely important for electric vehicle use.

Red Mountain is now in the process of preparing a Notice of Meeting which will seek shareholder approval to acquire both the Mt Mansbridge and Mt Kokeby projects.

Red Mountain is trading steady, with shares priced at 0.5 cents apiece in a $4.235 million market cap.

RMX by the numbers
More From The Market Herald
The Market Herald Video

" Orange may be the new gold

One of the latest explorers to head to the ASX is Perth-based Orange Minerals with listing anticipated as soon as next week.
Pan Asia Metals (ASX:PAM) - Managing Director, Paul Lock

" Pan Asia Metals (ASX:PAM) announces latest drilling results from Reung Kiet lithium project, Thailand

Pan Asia Metals (PAM) has released lithium drill results for four holes from its Reung Kiet project in southern Thailand.
Vango Mining (ASX:VAN) - Executive Chairman, Bruce McInnes

" Vango Mining (ASX:VAN) unveils further gold intersections at Marymia

Vango Mining (VAN) has unveiled further gold intersections from an ongoing open-pit drilling campaign at its Marymia Gold Project in the mid-west region

" Pursuit Minerals (ASX:PUR) gets final assays from Phil’s Hill

Pursuit Minerals (PUR) has confirmed a silver sulphide mineralising system at its Phil’s Hill prospect in Western Australia following receipt of the final