Red Mountain results could be the catalyst to revisit a 12 month high

By Trevor Hoey. Published at Feb 4, 2021, in Mining

Red Mountain Mining Limited (ASX:RMX) has released some promising results from the recently completed assessment of the radiometric data that was acquired in December 2020 at the company’s Mt Mansbridge HREE Project.

Assessment of recent airborne radiometric survey data identified 32 priority Heavy Rare Earth Element/Dysprosium (HREE) targets along 33 kilometres of prospective unconformity.

By way of background, Mt Mansbridge is a Kimberleys based heavy rare earths and nickel-cobalt project, and at the time of acquisition management noted that heavy rare earths were a critical and strategic component of the modern economy and that this was being reflected in recent healthy price rises in November, particularly in relation to dysprosium and terbium.

The targets are analogous to Northern Minerals Ltd’s (ASX: NTU) unconformity related HREE deposits Dazzler and Iceman.

It is worth noting that shares in Northern Minerals have responded positively to the buoyant commodity environment since November, doubling to a 12 month high of 6.7 cents in late January.

Establishing 32 targets could be catalyst to revisit 12 month high

While shares in Red Mountain also spiked at the start of January, they have pulled back slightly, suggesting today’s news may be the catalyst required to revisit the 12 month high that was made only a month ago.

In discussing the survey results released today, management highlighted Mt Mansbridge South is a prospect with known xenotime mineralisation.

This is considered particularly encouraging as it validates the exploration technique as an effective method of identifying areas prospective for HREE mineralization.

The company has already begun planning access with relevant native title claimant groups, with an anticipated initial reconnaissance trip to review prioritised targets in the June quarter of 2021 once the project is accessible with drilling anticipated to commence in June 2021.

Improved surveying technologies pay dividends for Red Mountain

In HREE/Xenotime deposits, radiometric data has proven to be valuable in vectoring in on HREE targets.

At Mt Mansbridge, the collection of more informative data when compared with historical surveys has paid off for Red Mountain.

Processing and ratioing of the newly acquired 800 kilometre line airborne radiometric data set has identified and delineated 32 additional basement and unconformity related HREE/Xenotime targets for further exploration.

These newly identified targets are in addition to the previously reported areas of known Xenotime mineralisation at Mt Mansbridge’ and Mt Mansbridge South, the Killi Killi HREE geochemical anomaly and previously reported radiometric anomalies.

All of these targets are summarized below and will be the focus of exploration in the June quarter.

The Mt. Mansbridge South Prospect is one of the two prospects within the project area with observed xenotime mineralisation.

Processing of the radiometric data highlighted the area as prospective for HREE/Xenotime.

The company views this as a validation of the radiometric data set as a targeting method for HREE/Xenotime mineralisation.

Due to the positive radiometric response over the Mt Mansbridge South Prospect, similar radiometric anomalies in the vicinity have been identified and prioritised as exploration targets.


View Our Investment Portfolios


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X