Red Mountain Mining

Antimony Project Acquired in Australia's Premier Province

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to announce the receipt of a Notice of Proposed Grant of Exploration Licence (relating to ELA6810) from the NSW Department of Primary Industries. The project encompasses 391km2 of prospective ground within the Southern New England Orogen (SNEO) in northeastern New South Wales. The SNEO is recognised as Australia’s premier Antimony province (Figure 1). Antimony occurs in hydrothermal quartz veins, breccias and stockworks, often with associated gold and/or tungsten mineralisation.


HIGHLIGHTS

  • Exploration Licence to be granted for a period of six years and covering a significant package of 391 km2 of prospective ground within the Southern New England Orogen of NSW, Australia’s premier Antimony Province
  • The tenement extends over an 85km strike extent of the Peel Fault System, a known mineralised structural corridor, and includes multiple known Antimony and Gold mineral occurrences
  • The best reported historical results to date include 465ppm Sb and 0.224ppm Au
  • Given limited previous exploration these historical sampling results represent a significant greenfield discovery opportunity for Antimony and Gold
  • Antimony prices have surged to ~US$33,500 per metric ton* as of 21 November following China’s recent export ban on a wide range of Antimony products

Figure 1: Known NSW Gold and Antimony mineral occurrences relative to basement orogenic units. The map clearly demonstrates the prospectivity of the New England Orogen for Antimony and Gold. The location of the Hillgrove Deposit, Peel Fault and ELA6810 are also shown.*Argus Media, Sb ingot min 99.65% fob China 21/11/2024 (https://www.argusmedia.com/metals-platform/metal/minor-and-specialty-metals-antimony).

The Hillgrove project (ASX: LRV) is approximately 20km east of Armidale, is Australia’s largest known Antimony deposit. The mine has recorded production of over 730,000 oz of gold and over 50,000 tonnes of Antimony and a remaining resource of 1.7Moz Au equivalent at a grade of 7.4g/t Au equivalent, including 90,000 tonnes of Antimony, with significant exploration upside1.

Project Geology

The project lies approximately 100km west of Hillgrove and extends for 85km immediately west of the Peel Fault. The geology of the tenement is dominated by isoclinally folded Carboniferous metasediments of the Tamworth Belt (Figure 2), which is a forearc basinal package related to west-dipping subduction of oceanic crust beneath the Lachlan Orogen. Ultramafic melanges of the Great Serpentinite Belt, which outcrop along the Peel Fault, are considered to be remnants of this oceanic crust. The Peel Fault System has recognised world-class mineral potential, with over 400 known orogenic gold and base metal mineral occurrences along its over 400km strike extent, but is underexplored with less than 200 mostly shallow drillholes over its length, the majority of which are focused on discrete prospects.

Figure 2: Surface geology and known antimony, gold and tungsten mineral occurrences of EL6810 and the surrounding area. The Peel Fault (PF) and Namoi Fault (NF) are indicated.

Tamworth Belt metasediments within the project are cut by multiple splays off the Peel Fault, including the major Namoi Fault (Figure 2). Gold, Antimony and Tungsten mineralisation are associated with orogenic quartz-vein and stockwork systems hosted within the Peel Fault System. The tenement encompasses nine historical gold workings (a mixture of primary orogenic vein-style and deep alluvial workings); three vein- hosted Antimony occurrences with historical workings; and one vein-hosted tungsten occurrence.


Click here for the full ASX Release

This article includes content from Red Mountain Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Map of Ontario, Canada, with "Top 5 Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Onyx Gold Shines with 118 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released April’s gross domestic product (GDP) numbers on Friday (June 27). The data showed a slowing in the Canadian economy with a 0.1 percent monthly decline after it increased 0.2 percent in March as businesses attempted to get ahead of US tariff deadlines.

In April, the shift in US trade policy led to significant declines in the manufacturing sector, which saw its largest drop in four years at 1.9 percent. Durable goods manufacturing declined for the first time in four months, dropping 2.2 percent d. The most heavily impacted sub-sectors were transportation equipment and the auto sector, which fell 21.6 percent and 5.2 percent, respectively.

Keep reading...Show less
Gold bars with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: GBM Soars on AU$13 Million Raise

Welcome to the first edition of the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

In significant news for Australia's iron sector, mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), together with its joint venture partner Hancock Prospecting, said on Tuesday (June 24) that the partners will invest a combined US$1.6 billion to develop the Hope Downs 2 iron ore project in the Pilbara region, Western Australia.

Companies focused on antimony and gold have also been making news this week, such as Resolution Minerals (ASX:RML) announcing its acquisition of the Horse Heaven project in Idaho, US, and Ausgold (ASX:AUC,OTC Pink:AUSGF) signing an agreement to acquire Critica’s (ASX:CRI,OTC Pink:VTMLF) Kulin gold project in Western Australia.

Keep reading...Show less
Maritime Resources Announces an up to $10 Million Best Efforts Private Placement Financing

Maritime Resources Announces an up to $10 Million Best Efforts Private Placement Financing

Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. ("Paradigm") as lead agent and sole bookrunner, for and on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a proposed best efforts private placement offering (the "Offering") of up to 8,850,000 common shares in the capital of Maritime (the "Offered Securities") to be issued at $1.13 per Offered Security (the "Issue Price") for gross proceeds of up to $10,000,500.

The Company will also grant the Agents an option (the "Agents' Option") to sell up to an additional 1,327,500 Offered Securities at the Issue Price for additional gross proceeds of up to $1,500,075, exercisable in whole or in part by the Agents at any time 48 hours prior to the Closing Date (as defined herein).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Wooden blocks spelling "M&A" on a computer keyboard.

Tudor to Acquire American Creek in Latest Gold M&A Deal

Tudor Gold (TSXV:TUD,OTC Pink:TDRRF) has signed a definitive agreement to acquire American Creek Resources (TSXV:AMK,OTCQB:ACKRF) in an all-share transaction, marking a consolidation in BC's Golden Triangle.

Under the deal, dated Wednesday (June 25), each American Creek shareholder will receive 0.238 shares of Tudor for each share held, effectively giving Tudor an 80 percent ownership stake in the Treaty Creek project — one of Canada’s largest undeveloped gold-copper porphyry systems. American Creek previously held a fully carried 20 percent interest.

"Our acquisition of American Creek increases our interest to 80 percent in the Treaty Creek Project, which hosts one of the largest gold discoveries in Canada with excellent potential for expansion and additional gold-copper discoveries, at a reasonable per ounce of gold equivalent cost," said Joe Ovsenek, Tudor Gold president and CEO, in a press release.

Keep reading...Show less
Gold bars in stacks.

Top 7 ASX Gold ETFs in 2025

The price of gold reached record highs in 2025, driven by global economic uncertainty stemming from shifting US trade policy and escalating geopolitical tensions in the Middle East.

For many investors, gold is a tool for diversification. The precious metal is known for its ability to act as a safe haven and hence operates as a protective option when building a balanced portfolio.

Gold exchange-traded funds (ETFs) give investors a relatively easy way to get exposure to physical gold without having to worry about the extra hassle of buying and storing the metal — not to mention insuring it. Gold ETFs can also track a basket of gold-focused stocks, allowing investors to spread risk instead of betting on individual companies.

Keep reading...Show less

Latest Press Releases

Related News

×