Silver Dollar Acquisition Raises Stakes for Red Mountain Mining in US Critical Metals Race

Strategic Expansion in Idaho’s Critical Minerals Hub

Red Mountain Mining Limited (ASX – RMX) has taken a decisive step to bolster its US critical minerals portfolio with the acquisition of the Silver Dollar Antimony Project in central Idaho. This acquisition expands RMX’s landholding in the region by more than 80%, positioning the company as a more significant player in a district known for its rich antimony and gold mineralisation.

The Silver Dollar Project is located approximately 70 kilometres southeast of RMX’s recently acquired Yellow Pine Antimony Project and lies within the same geological setting as Perpetua Resources’ Stibnite Gold-Antimony Project, the largest known antimony deposit in the United States. This proximity suggests potential synergies and geological parallels that could enhance RMX’s exploration success.

Historical High-Grade Mineralisation and Geological Context

Historical records from the 1940s indicate exceptionally high-grade antimony mineralisation at Silver Dollar, with ore grades estimated at 17.7% antimony and silver concentrations around 6.3 parts per million. The mineralisation is hosted within a stibnite vein system associated with a steeply north-dipping fault cutting through granodiorite of the Cretaceous Idaho Batholith. This geological environment is analogous to that of the nearby Stibnite Project, which boasts proven reserves of 4.8 million ounces of gold and 148 million pounds of antimony.

Mining at Silver Dollar historically involved a 10-metre deep shaft targeting a massive stibnite vein up to one metre thick, with anecdotal reports of large pure stibnite pieces extracted. Despite this promising history, exploration has been limited since the mid-20th century, leaving substantial untested potential for additional antimony, gold, silver, and possibly other critical metals.

Focused Exploration and Internal Expertise

Red Mountain’s US-based technical team identified and secured the Silver Dollar claims, reflecting the company’s strategy of leveraging internal expertise to acquire and advance highly prospective projects. The initial exploration program will concentrate on detailed mapping and sampling of the main fault structures to identify secondary features that may host mineralisation, guiding future drill testing.

Importantly, the company’s recent capital raising has provided a strong financial foundation to aggressively pursue exploration activities across its portfolio and evaluate further acquisition opportunities in the critical metals sector. RMX’s approach aims to build scale and technical knowledge internally, which it views as a competitive advantage in the evolving US critical minerals landscape.

Positioning for Growth in a Strategic Market

This acquisition not only enhances RMX’s land position but also aligns with broader market trends emphasizing the importance of securing domestic sources of critical minerals like antimony and gold. As global demand for these metals grows, driven by their use in technology, energy, and defence sectors, RMX’s expanded Idaho footprint could become increasingly valuable.

While the historical data provides encouraging indications, it is important to note that no current JORC-compliant resource estimate exists for Silver Dollar, and further exploration will be necessary to confirm economic viability. Nonetheless, RMX’s methodical approach and strong funding position it well to unlock the project’s potential.