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- Red Mountain Mining (RMX) completes drilling at the Maitland South prospect at its Mt Maitland Gold and Base Metal Project in the Murchison region of WA
- Drilling was designed to test an IP chargeability anomaly which coincides with the down-dip extension of the mineralised shear zone
- Drilling intersected a 14.65-metre-wide zone of alteration, veining and sulphide which is believed to be prospective for gold mineralisation
- This zone has now been processed on site and is being sent to the lab for analysis, with assay results due over the coming six weeks
- Red Mountain Mining last traded at 1 cent on July 12
Red Mountain Mining (RMX) has completed drilling at the Maitland South prospect at its wholly owned Mt Maitland Gold and Base Metal Project in the Murchison region of WA.
The Maitland South prospect is a 500-plus-metre-long shear zone characterized by numerous historical workings.
Drilling intersected the Maitland South Shear Zone between 266.77 and 281.42 metres, with a width of 14.65 metres. The hole was designed to test an IP chargeability anomaly which coincides with the down-dip extension of the mineralised shear zone. This zone has now been processed on site and is being sent to the lab for analysis.
The shear zone consisted with quartz-filled breccias on the margins, with strong silica, sericite and minor hematite altered schist within the centre of the zone.
The company expects assay results for the program to arrive within the next three to six weeks.
Additionally, two zones of intercalated, pyrite bearing, banded iron formation and amphibolite were intersected during drilling, prospective for gold mineralisation.
The company believes the chargeability anomaly is associated the disseminations of pyrite within the intersected Maitland South Shear zone.
Petrophysical work is set to be undertaken on this zone as well as other units to define the source of the geophysical anomaly.
Red Mountain Mining last traded at 1 cent on July 12.
