FYI | Oct 09 2020
–The below is a company sponsored announcement–
Red Mountain Mining ((RMX)) is set to commence drilling at its Mt Maitland Gold Project.
RMX acquired the project, which lies within the prolific Murchison Goldfields in WA in July this year.
The Mt Maitland Gold Project comprises a 62km2 parcel of tenure and contains two, distinct north-south mineralised shear zones over a strike length of 19km within an Archean greenstone belt.
It is in close proximity to the $1.1 billion Westgold Resources Fortunum Gold Mine and its Bluebird Gold Mine to the south of Mt Maitland and the $773.6M capped Sandfire’s Monty Gold Mine and its Degrussa Copper Gold Mine.
Aussie junior Superior Gold Inc. is also prolific in the region.
The Mt Maitland Project came with multiple drill-ready targets and historic production which averaged 19g/t Au.
Outstanding results from historic exploration at Mt Maitland include:
- gold-in-soils: peak 2,724 ppb, anomalies over 13 kilometres of strike
- rock chips: up to 62g/t Au, 8.8% Cu and 290g/t Ag channel sampling: 2.50m @ 22.7 g/t Au and 0.75m @ 61.8 g/t Au
- Drill results include 13m @ 2.53 g/t from 9m, 2m @ 1.53 g/t from 13m
RMX recently completed a heritage survey and pre-drilling earthworks and secured the drill rig to begin drilling within the next seven to 10 days.
The programme is planned for 18 holes for approximately 1,300 metres.
During the heritage survey, additional geological mapping was conducted which has assisted RMX to vector this maiden drill programme.
Conclusions include that gold mineralisation is concentrated in discrete domains within the project area, more specifically, either within or proximal to narrow vein-breccia stock-work, or occur in clusters of small to medium size mineralised bodies along shears or favourable lithological units.
Another mineralisation style appears to be related to steeply dipping dilatational structures, where a high-angle shear at the mafic/ultramafic contact intersects a steeply dipping more competent rock type (BIF) and refracts to a steep angle.
Continued strike-slip displacement causes this refracted surface to develop as an extensional structure. Rock chip sampling was undertaken across certain prospects within the tenure, with samples submitted for laboratory analysis.
The potential high-grade nature of the mineralisation at the Mt Maitland can be seen below in this significant gold nugget shown below:
Nugget found by company employee while prospecting on Mt Maitland tenure.
By Jonathan Jackson
Earlier today the corporate announcement above was publicly released. FNArena is acting as a partner in distribution to broaden the reach. No journalists have been involved in the re-publication of this announcement.
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