Red Mountain Mining Raises $1.5M, Confirms 39% Sb at Armidale and Expands US Claims
Red Mountain Mining has bolstered its critical minerals portfolio with key acquisitions in the US and promising exploration outcomes across its global projects, supported by a recent $1.5 million capital raise.
- Acquisition of major antimony projects in Utah and Idaho, USA
- High-grade antimony and gold mineralisation confirmed at Armidale, NSW
- Encouraging gold results from Fry Lake, Canada, and ongoing soil sampling
- Successful $1.5 million oversubscribed placement post quarter-end
- Plans underway for US stock market listing to enhance liquidity and capital access
Strategic Acquisitions Strengthen US Footprint
During the September quarter of 2025, Red Mountain Mining Limited (ASX – RMX) significantly expanded its critical minerals portfolio through the acquisition of 87 claims in Utah's historic Antimony Mining District and the Yellow Pine Antimony Project in Idaho. These acquisitions position RMX alongside established players like Trigg Minerals and Perpetua Resources, tapping into regions with proven high-grade antimony mineralisation and historical production.
The Utah Antimony Project lies adjacent to Trigg Minerals’ Antimony Canyon Project, known for stibnite veins with antimony grades exceeding 10%. Meanwhile, the Yellow Pine Project is situated near Perpetua Resources’ Stibnite Gold-Antimony Project, the largest known antimony deposit in the US, underscoring RMX’s strategic targeting of tier-one mining districts.
Exploration Advances Across Multiple Fronts
Exploration activities during the quarter delivered encouraging results. At the Armidale Antimony-Gold Project in New South Wales, Australia, rock chip sampling confirmed high-grade antimony mineralisation exceeding 39% Sb and associated gold values above 1 g/t over a strike length of several kilometres. Soil sampling and multispectral satellite data further identified numerous prospective targets along major fault systems, highlighting the project's significant upside potential.
In Canada, the Fry Lake Gold-Copper Project in Ontario saw the completion of a channel sampling program at the Flicka Zone, returning high-grade gold assays up to 25.1 g/t over narrow intervals. Complementary soil and rock chip sampling across priority grids aim to delineate further drill targets, reinforcing the project's promise for orogenic gold discovery.
Capital Raising and Corporate Developments
Post quarter-end, Red Mountain successfully completed an oversubscribed placement raising $1.5 million, strengthening its balance sheet to fund ongoing exploration and development. This follows a prior $0.65 million placement earlier in the year, supported by strategic investors now among the company's top shareholders.
Additionally, RMX announced plans to pursue a US stock market listing, aiming to enhance liquidity and broaden access to capital markets. The Board views this move as a catalyst for unlocking asset value and engaging with critical minerals supply chain stakeholders and government bodies in North America.
Outlook and Next Steps
Red Mountain’s exploration strategy is focused on advancing drill-ready targets across its US and Australian projects, with particular emphasis on the newly acquired antimony assets and the Armidale gold-antimony system. Pending assay results from recent sampling programs will guide follow-up work, including geophysical surveys and drilling campaigns.
With a current cash balance of AUD 640,000 and ongoing capital initiatives, RMX is positioned to sustain its exploration momentum. The company’s diversified portfolio across critical minerals and gold, coupled with its geographic spread, aligns well with growing global demand for secure supply chains.
Bottom Line?
Red Mountain Mining’s aggressive expansion and exploration progress set the stage for a pivotal phase of growth, with market watchers keenly awaiting drill results and the impact of its US listing ambitions.
Questions in the middle?
- How will pending assay results influence RMX’s near-term drilling plans?
- What timeline and market conditions will shape the proposed US stock market listing?
- Can RMX secure additional funding to sustain exploration beyond the current cash runway?
