Oaky Creek Yields Up to 28.3% Antimony; Red Mountain Raises $1.05m for Exploration

Exploration Breakthrough at Armidale

Red Mountain Mining Limited (ASX – RMX) has delivered an encouraging update for the quarter ending 30 June 2025, highlighting significant progress at its Armidale Antimony-Gold Project in New South Wales. The company’s focused exploration at the Oaky Creek prospect has revealed high-grade antimony mineralisation, with rock chip samples returning assays as high as 28.3% antimony (Sb). This discovery builds on a desktop study that initially identified a 19.5% Sb massive stibnite vein in historical workings, underscoring the potential scale and tenor of the mineralisation.

The recent soil and rock chip sampling program, conducted along a 3.5 km section of the Namoi Fault, a key structural control, confirmed multiple high-grade zones and extended the known strike length of mineralised veins. Notably, the spatial correlation between elevated antimony and gold in soils and rock chips supports the interpretation of a large orogenic vein system, analogous to Larvotto Resources’ Hillgrove project, Australia’s largest antimony deposit located nearby.

Expanding the Exploration Footprint

Beyond Oaky Creek, Red Mountain has identified additional targets at East Hills and Horsley Station within the same tenement (EL9732). These prospects, featuring historical mining activity but little systematic modern exploration, are slated for soil sampling and further investigation in the second half of 2025. The Horsley Station gold prospect, in particular, lies on the Peel Fault and shows promising geophysical signatures linked to gold mineralisation.

In Western Australia, the Kiabye Gold Project saw ongoing soil and rock chip sampling, alongside a 1000m reverse circulation drilling campaign targeting magnetic anomalies and gold-in-soil anomalies. While assay results are pending, the discovery of alluvial gold nuggets at Kiabye North adds intrigue to the project’s potential.

Canadian Ambitions at Fry Lake

Red Mountain’s Canadian flagship, the Fry Lake Gold-Copper Project in Ontario, is gearing up for an active 2025 exploration season. The focus will be on channel sampling of historically identified high-grade gold-bearing quartz veins at the Flicka Zone and detailed soil and rock chip sampling across four priority areas. Previous sampling in 2024 highlighted anomalous gold and copper values, hinting at both orogenic gold and copper-rich polymetallic volcanic-hosted massive sulfide mineralisation.

Financial and Strategic Moves

To support its exploration ambitions, Red Mountain successfully raised $400,000 through convertible notes during the quarter and an additional $650,000 post-quarter via equity issuance. The latter was anchored by strategic investors, including top shareholders of Larvotto Resources, signaling strong market confidence in the Armidale project’s prospects. The company also streamlined its asset portfolio by withdrawing from the Nannup and Monjebup projects to focus resources on high-potential targets.

Cash flow reports indicate a cash balance of AUD 326,000 at quarter-end, with funding sufficient for approximately 1.3 quarters of operations. The company remains optimistic about securing additional capital as needed to advance its exploration programs.

Looking Ahead

Red Mountain’s near-term plans include shallow costeaning at Oaky Creek to expose bedrock beneath soil anomalies, detailed geological mapping, and progressing drill-ready targets by late 2025. Concurrently, soil sampling at East Hills and Horsley Station will expand the exploration footprint. In Canada, the partnership with Fladgate Exploration Consulting Corporation to conduct the 2025 program at Fry Lake further strengthens operational capabilities.

While assay results from Kiabye drilling remain pending, the combined momentum across multiple projects positions Red Mountain as a company to watch in the gold and critical minerals exploration space.