Red Mountain Mining Limited: Red Mountain Signs Agreement over Montana Tungsten Project
00:13 Uhr | ABN Newswire
Perth, Australia - Red Mountain Mining Ltd. (ASX:RMX) (OTCMKTS:RMXFF), a Critical Minerals exploration and development company with an established portfolio in Tier-1 Mining Districts in the United States and Australia, announced that it has signed an exclusive option agreement granting the Company a 30-day due diligence period prior to executing an agreement to acquire the Pioneer Tungsten Project in the southwest of Montana, USA.The Pioneer Tungsten Project comprises three areas along the eastern margin of the Mount Torrey Batholith (Figure 1*), where locally, massive garnet skarns, up to 25m thick are present.
These skarns contain tungsten (W) mineralisation as scheelite (CaWO4), assaying over 0.5% WO3.
The Pioneer Tungsten Project comprises three groups of claims - the Mammoth, Lost Creek and Greenstone prospects (Figure 1), - all with recorded tungsten-bearing garnet skarn mineralisation. At Greenstone all the historical Greenstone drill holes* were mineralised along their entire lengths and returned average assays ranging from 0.34% to 0.48% over lengths of between 5.8 and 10.7m. These values and thicknesses are similar to drilling results for the Almonty's 6.8Mt Gentung deposit. The geology and drill results suggest that mineralisation is open and may extend beyond existing claims.
. These skarns contain tungsten (W) mineralisation as scheelite (CaWO4), assaying over 0.5% WO3.
The Pioneer Tungsten Project comprises three groups of claims - the Mammoth, Lost Creek and Greenstone prospects (Figure 1*), - all with recorded tungsten-bearing garnet skarn mineralisation. At Greenstone all the historical Greenstone drill holes* were mineralised along their entire lengths and returned average assays ranging from 0.34% to 0.48% over lengths of between 5.8 and 10.7m. These values and thicknesses are similar to drilling results for the Almonty's 6.8Mt Gentung deposit. The geology and drill results suggest that mineralisation is open and may extend beyond existing claims.
Pioneer Tungsten Project - Greenstone, Mammoth and Lost Creek
Historical Drilling Data Indicates Potential for Widespread Tungsten Mineralisation Four shallow drillholes* were completed at Greenstone by the Minerals Engineering Company in 1951, with collar locations estimated from Clark (1951) shown in Figure 5. All four holes were collared close to the eastern (downdip) margin of the outcropping garnet skarn and, based on the mapping of Clark (1951) were drilled approximately perpendicular to the strike of the mineralisation. The majority of the drillholes are near-vertical, or drilled perpendicular to the ground surface. As can be seen on Figure 5, two of the drillholes (WDH1, WDH2) were drilled approximately 20m apart within the Greenstone claims, while the other two holes (WDH3 and WDH4) were drilled very close together approximately 50m to the north. Assay results* for all four holes (Table 1*) were mineralised along their entire lengths and returned average assays ranging from 0.34% to 0.48% over lengths of between
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ERS9T2X6
About Red Mountain Mining Limited:
Red Mountain Mining Limited (ASX:RMX) is a mineral exploration and development company. Red Mountain has a portfolio of US, Canada and Australia projects in Critical Minerals and Gold. Red Mountain is advancing its Armidale Antimony-Gold Project in NSW, Utah Antimony Project in the Antimony Mining District of Utah, US, Fry Lake Gold Project and US Lithium projects.
Source:
Red Mountain Mining Limited
Contact:
Mauro Piccini Company Secretary
