Exploration Risks Loom as Red Mountain Awaits Critical Assay Results

Exploration Accelerates at Oaky Creek

Red Mountain Mining Ltd (ASX, RMX) has kicked off an expanded exploration program at the Oaky Creek prospect, part of its 100%-owned Armidale Antimony-Gold Project in New South Wales. Early fieldwork has already yielded encouraging results, with visible stibnite and stibiconite mineralisation discovered within the first two days of sampling. These minerals are key sources of antimony, a critical mineral with growing strategic importance.

The program focuses on a 1.2-kilometre strike zone at Oaky Creek North, where soil anomalies rich in antimony have been identified. The company plans to collect around 900 hand-auger samples by December 2025, with assay results expected by the end of the March quarter in 2026. These results will inform the prioritisation of drill targets for the first half of next year.

Strategic Location and Geological Context

The Armidale project lies within the New England Orogen, Australia's premier antimony province, and is geologically analogous to the nearby Hillgrove deposit, Australia's largest antimony-gold resource. The project covers nearly 400 square kilometres of highly prospective ground along the Peel Fault system, which hosts numerous orogenic gold and antimony occurrences.

Historical workings at Oaky Creek date back to the late 19th century but have seen limited modern exploration. Red Mountain's recent soil and rock chip sampling has delineated a coherent antimony-gold mineral system extending over 3 kilometres, with rock chip samples returning high-grade antimony values up to 39.3% Sb and associated gold.

Funding and Forward Plans

Supporting this accelerated exploration push, Red Mountain successfully raised $1.35 million through a heavily oversubscribed placement to sophisticated and family office investors. The funds will underpin ongoing work at Armidale and the company's US critical minerals portfolio, which includes projects in Utah, Idaho, and Nevada.

Alongside the soil sampling, the company is commissioning a high-resolution airborne magnetic-radiometric survey to better map structural features and refine target generation across the tenement. This integrated approach aims to fast-track the identification of drill-ready targets and expand the understanding of the project's mineral potential.

Implications for Critical Minerals Supply

Antimony is a critical mineral used in flame retardants, batteries, and alloys, with supply chains under pressure globally. Red Mountain's progress at Armidale positions it as a potential future supplier from a Tier-1 mining jurisdiction. The company's dual focus on Australian and US assets aligns with broader strategic efforts to secure reliable sources of critical minerals for Western markets.

While assay results are pending and drilling plans hinge on forthcoming data, the early discovery of visible high-grade antimony mineralisation is a promising indicator. Investors and analysts will be watching closely as Red Mountain advances its exploration and moves toward resource definition.