RMX Unveils New Gold Assays and Launches Major Trenching at Armidale

• Gold assays up to 0.54g/t Au from 102 rock chip samples at Oaky Creek
• 2,500m shallow trenching planned across three antimony soil anomalies
• Major soil sampling at East Hills and Horsley Station prospects with historical workings
• New Horsley North gold target identified featuring a magnetic high
• Q3 and Q4 exploration fully funded following successful placement

Exploration Momentum Builds at Armidale

Red Mountain Mining Limited (ASX – RMX) has accelerated its exploration activities at the Armidale Antimony-Gold project in New South Wales, unveiling new gold assay results and outlining a comprehensive field program for the coming months. The recent rock chip sampling at the Oaky Creek prospect has confirmed the presence of an orogenic antimony-gold system, with gold values reaching up to 0.54 grams per tonne (g/t) and antimony concentrations as high as 28.34%.

This breakthrough follows earlier soil sampling that identified significant antimony anomalies, setting the stage for a 2,500-metre shallow trenching campaign aimed at testing three distinct soil geochemical anomalies. These anomalies, notably lacking visible mineralisation or historical workings, could reveal new mineralised zones beneath the surface, potentially extending mineralisation over strike lengths of 1.5 kilometres at Oaky Creek North and 800 metres at Oaky Creek South.

Expanding the Target Portfolio

Beyond Oaky Creek, RMX is preparing a major soil sampling program at two additional priority targets – the East Hills antimony prospect and the Horsley Station gold prospect. Both sites feature historical mining activity but have not been systematically explored with modern geochemical techniques. The East Hills program will focus on delineating extensions of quartz vein-hosted antimony mineralisation, while Horsley Station, situated along the Peel Fault, is notable for its magnetic high interpreted as serpentinite mélange; a geological setting analogous to prolific goldfields nearby.

Adding intrigue, RMX has identified a new gold target dubbed Horsley North, approximately two kilometres north of Horsley Station. This target also coincides with a magnetic high and lies along the Peel Fault, suggesting potential for significant gold mineralisation. Soil sampling grids are planned for both Horsley Station and Horsley North, with hundreds of samples to be collected and analysed.

Strategic Positioning and Funding

The Armidale project benefits from its proximity to Larvotto Resources’ Hillgrove deposit, Australia's largest antimony resource, underscoring the district-scale potential of the region. RMX’s tenement, EL9732, covers a substantial 391 square kilometres along a highly prospective corridor within the Southern New England Orogen, a recognized antimony province.

Importantly, RMX’s Q3 and Q4 exploration initiatives are fully funded following a successful capital raising anchored by strategic investors, including top shareholders of Larvotto Resources. This financial backing provides the company with the resources to execute its trenching and soil sampling programs without delay, with trenching expected to commence in late July pending regulatory approvals.

Looking Ahead

While the rock chip assays provide encouraging early evidence of mineralisation, the upcoming trenching and soil sampling results will be critical to confirming the extent and continuity of mineralised zones. Success in these programs could pave the way for follow-up drilling and resource definition, potentially positioning RMX as a key player in the Australian antimony-gold sector.

Bottom Line?

RMX’s upcoming trenching and soil sampling results will be pivotal in unlocking Armidale’s mineral potential and shaping its next exploration phase.

Questions in the middle?

• Will trenching confirm continuous orogenic antimony-gold mineralisation beneath soil anomalies?
• How extensive and high-grade are the gold targets at Horsley Station and Horsley North?
• What timeline and scale will RMX pursue for drilling following trenching and soil sampling outcomes?