Red Mountain Mining extends Uplong discovery

THE DRILL SERGEANT: Red Mountain Mining (ASX: RMX) has received high-grade gold surface sample results from the Ulupong gold discovery, located at the Lobo prospect within the company’s Batangas gold project, south of Manila in the Philippines.

The results include 6.63 grams per tonne gold and 67.4 grams per tonne silver from sub-cropping quartz-sulphide boulders in the Bigaan-Ulupong area.

 

Plan of Ulupong soil anomalies and channel sampling results highlights. Source: Company announcement

 

The Bigaan-Ulupong area is located approximately 800 metres along strike to the northeast of trenching, which produced a result of 1.4m at 1.26g/t gold, including 0.3m at 5.3g/t gold across northern extensions of the ULOC 4 vein.

Previous sampling conducted by Red Mountain across the vein at ULOC 4 intersected 0.45m at 23.39g/t gold and sampling along the vein produced results of 19m at 9.77g/t gold including 7m at 23.58g/t gold.

“The Ulupong discovery is starting to look very significant,” Red Mountain Mining managing director Jon Dugdale said in the company’s announcement to the Australian Securities Exchange.

“High-grade gold, in outcropping veins, is supported by strong soil anomalies over a one kilometre strike length.

“We are excited at the prospect of drilling this new discovery, along with the other high grade, near surface targets at Pica and Japanese Tunnels.”

Red Mountain said t latest channel sampling results, combined with new soil sampling geochemistry, have enabled it to define a greater than one kilometre long corridor of mineralisation at the south-western end of the greater than two kilometres long Ulupong structure.

The company indicated it now has drilling planned to test the high-grade veins and soil anomalies at Ulupong as part of its next phase of drilling.

This is expected to be funded by a Rights Issue the company announced last week.