Red Mountain readies new drill targets

THE CONFERENCE CALLER: The Roadhouse caught up with Red Mountain Mining (ASX: RMX) at Diggers & Dealers after the company released an announcement saying it has prioritised testing of five new high-grade gold and silver-copper targets at its Lobo prospect.

“We are spending time working up a number of high-quality gold and silver-copper targets,” Red Mountain Mining managing director Jon Dugdale told The Roadhouse.

“We have five key targets we are working on outside of the existing Resource.

“We are looking for high-grade gold shoots immediately below the surface material that is exposed.

“So we are moving from the stuff that is exposed at surface, which is exceptionally high-grade, to look at these targets where the cap is still on the ore body.

“We are getting targets ready for drilling now, and we will be drilling them very soon.”

 

Plan of Lobo epithermal gold prospect with resources and high priority targets. Source: Company announcement

 

The identification of the targets followed a detailed exploration target review for the entire Batangas gold project, located south of Manila in the Philippines.

A total of 30 targets were identified, including five high-priority targets, 11 moderate to high-priority targets and several regional copper-gold porphyry targets that are currently being assessed.

The five high-priority targets selected for immediate rockchip sampling, trenching and drilling consist: Camo, Signal, Ulupong, Pica, and an extension to the South West Breccia lode.

“They are all fairly high-priority targets, but the Camo target and the Signal target are the two we are focused on at the moment, and they will probably be the first we will drill,” Dugdale, said.

“In both of those cases, it looks like we have a situation where the capping silver-copper-rich rocks are sitting above, what we expect to be, a gold shoot underneath.”

Email: info@redmm.com.au

Website: www.redmm.com.au