Red Mountain Mining (ASX:RMX) - Managing Director, Jon Dugdale
Managing Director, Jon Dugdale
Source: Business News
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  • Red Mountain Mining (RMX) identifies several magnetic anomalies at the Cow Creek prospect which is part of the Mt Mansbridge Project in Western Australia
  • These anomalies have been outlined through a technical review which highlighted a seven-kilometre-by-seven-kilometre ovoid area
  • Additionally, the company believes the nearby Déjà Vu prospect may host massive sulphides
  • Red Mountain Mining will follow up on these findings with drilling at Cow Creek and an upcoming electromagnetic survey at Déjà Vu
  • Company shares ended the day down 10 per cent to trade at 0.9 cents

Red Mountain Mining (RMX) has recently completed a technical review of the Cow Creek prospect which is part of its Mt Mansbridge Project in Western Australia.

Pleasingly for the company, the review highlighted Cow Creek as prospective for mafic-ultramafic intrusive-related nickel-copper-cobalt-platinum group elements (PGEs).

The prospect comprises multiple regionally distinctive north-northwest-trending magnetic features which sit within a seven-kilometre-by-seven-kilometre ovoid area which is ringed by less intensive magnetic anomalies.

As a result of these observations, this area is interpreted to be a mafic-ultramafic intrusive complex.

The company believes the interpretation is influenced by the presence of the 600-metre ultramafic intrusion within the Déjà Vu prospect.

The Déjà Vu prospect is located 12 kilometres southeast of Cow Creek and RMX believes it has the potential to host massive sulphides. To follow up on this, the company will undertake a moving-loop electromagnetic survey which is expected to begin shortly.

In terms of the Cow Creek prospect, Red Mountain Mining will drill several of the new anomalies. It has already begun the permitting process with Traditional Owners and the Department of Mines, Industry Regulation and Safety.

Company shares were down 10 per cent to trade at 0.9 cents at market close.

RMX by the numbers
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