Magnetic survey points the way to gold targets for Red Mountain
Red Mountain Mining Ltd (ASX:RMX) has picked up a suite of prospective gold targets at its Kiabye project in Western Australia following the recent completion of a magnetic survey there.
The survey – which was conducted in Area 1 of project’s northern section (Kiabye North) – identified 2 strong northeast trending linear magnetic anomalies whose features appear to correlate with magnetite-bearing quartz veins systems.
The latter is an important ‘structural control’ for gold across the surrounding territory.
These results are set to guide RMX’s future drilling program, which will test these magnetic structures, as well as targeting Kiabye South, where historic RAB drilling has yielded 3.45 grams per tonne (g/t) in one hole, and where RMX has also been conducting soil sampling.
RMX ran 3 ground magnetic surveys covering 10.5 square kilometres with 100-metre line spacing and 20-metre sample interval. Together, these focused on the central part of the Kiabye Greenstone Belt and a western section of the Narndee Igneous Complex.
Kiabye itself covers a strike length of 23km² of the greenstone belt, with less than half covered by exploration samples from historical explorers and only around 7% was covered by prior holders.
RMX has been trading at 0.8 cents.
Magnetic survey points the way to gold targets for Red Mountain
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