Red Mountain Plans 32-Hole Drilling Program Targeting 3km Oaky Creek Antimony System

Drilling Greenlight for Expansive Oaky Creek Targets

Red Mountain Mining (ASX:RMX) has received the green light from the NSW Resources Regulator to embark on a reverse circulation (RC) drilling campaign comprising up to 32 holes at its Oaky Creek Antimony prospect within the Armidale Antimony-Gold Project. The program, approved to a maximum depth of 300 metres, aims to test priority targets identified from a comprehensive surface geochemical sampling program that revealed assays as high as 39.3% antimony (Sb) and 1.09ppm gold (Au). The company plans to kick off drilling by the end of this quarter, initially focusing on shallower holes between 100m and 150m to establish mineralisation continuity near surface.

The flexibility granted by the regulator to adjust drill collar locations based on emerging results allows Red Mountain to chase depth and strike extensions dynamically. This approach acknowledges the significant vertical extent typical of orogenic antimony vein systems like Oaky Creek, which shares geological parallels with Larvotto Resources’ Hillgrove deposit, Australia’s largest antimony resource known to extend over 1km vertically. The Oaky Creek prospect itself exhibits a strike length of approximately 3km, underscoring its potential scale.

IP Survey Complements Geochemical Data for Targeting

To sharpen drill targeting, Red Mountain has completed an orientation Induced Polarisation (IP) survey at Oaky Creek South, employing both Gradient Array (GAIP) and Dipole-Dipole (DDP) techniques. Fender Geophysics, who previously conducted similar surveys at Larvotto’s Hillgrove project, executed the survey comprising multiple 1.5-1.6km lines across key mineralised zones. The dual-method approach aims to assess the cost-effectiveness and detection sensitivity of GAIP versus the more detailed but expensive DDP method for identifying narrow, steeply dipping antimony veins and associated alteration halos.

Preliminary observations of the IP lines crossing the coherent antimony-arsenic soil anomaly and mineralised workings indicate promising geophysical signatures, including zones of demagnetisation potentially linked to pyrite alteration halos around stibnite veins. The upcoming full IP survey results, expected by the end of May, will guide the prioritisation of drill holes to test deeper mineralisation and may prompt a broader IP survey across the entire 3km strike of Oaky Creek to uncover blind mineralised zones lacking surface geochemical expression. This geophysical work builds on Red Mountain’s earlier identification of five high-priority drill targets at Oaky Creek, which have been refined through detailed auger and conventional soil sampling campaigns over the past year five high-priority drill targets.

Strategic Positioning in a Tier-1 Antimony Province

Oaky Creek sits within Red Mountain’s 100%-owned Armidale Antimony-Gold Project in the Southern New England Orogen of New South Wales, a region recognised as Australia’s premier antimony province. The project lies just west of Larvotto’s Hillgrove deposit, which boasts a market capitalisation near AU$739 million, highlighting the scale of opportunity nearby. The geology features tightly folded and faulted Carboniferous metasediments hosting quartz-carbonate-stibnite veins and breccias, with historical shallow pits and shafts attesting to past mineralisation recognition.

Red Mountain’s ongoing exploration momentum is supported by recent capital raises and a standby facility pending shareholder approval, collectively providing approximately $4 million to fund US and Australian critical minerals exploration programs. This financial footing enables the company to advance its drilling plans at Oaky Creek while finalising due diligence on its Pioneer Tungsten Project in Montana, USA, which shares skarn-style mineralisation characteristics with a nearby 6.8Mt tungsten resource owned by NASDAQ-listed Almonty Industries due diligence on Pioneer Tungsten.