- Red Mountain Mining (RMX) finds “highly anomalous” lithium values at its Mustang project in Nevada
- The company has received new surface sampling results, with around half returning values above 500 parts per million (ppm) lithium and a stand-out of 721 ppm lithium
- Red Mountain will now conduct further mapping and sampling to better understand Mustang’s lithology and stratigraphy, as well as reverse circulation drilling
- RMX shares were last trading at 0.6 cents at 2:01 pm AEDT
Red Mountain Mining (RMX) has made an early lithium discovery through reconnaissance surface sampling at its Mustang project in Nevada, US.
The company collected 18 surface samples from areas of claystone outcrop, which were mostly in the southern and central parts of the mineral claim.
Eight of the samples returned lithium values over 500 parts per million (ppm), which the company said was “highly anomalous” given the small-scale sampling program.
A stand-out result was 721 ppm lithium from a grab sample in the central part of the project.
Red Mountain described the results as “encouraging” due to the minimal historical exploration work in the area.
In light of the initial results, RMX plans to undertake further mapping and sampling. This work will help the company better evaluate the project’s lithology and stratigraphy.
Following this, Red Mountain will conduct a reverse circulation drilling program, which is expected to include ten 70-metre-deep holes.
The results from this drilling will provide information on the lithium mineralisation in the area for future drilling.
RMX shares were last trading at 0.6 cents at 2:01 pm AEDT.