Below is a detailed breakdown of the data, figures, and tables...

Below is a detailed breakdown of the data, figures, and tables in the Red Mountain Mining (RMX) Armidale Antimony-Gold Project announcement.

1. Project Overview & Key Insights

Project Scope

• Project Name: Armidale Antimony-Gold Project
• Location:Southern New England Orogen, NSW, Australia
• Exploration License:EL9732 (Covers 391 km²)
• Minerals Targeted:Antimony (Sb), Gold (Au), Tungsten (W)
• Current Stage:Early-stage exploration, initial sampling phase

✅ Positive Aspects

• Large-scale tenement (391 km²) within Australia’s premier antimony province.
• Proven historical mining activity (antimony & gold) supports the area’s perspectivity.
• Exploration is well-planned (1,300+ soil and rock chip samples planned).
• Structural geology is promising—fault-related mineralization increases the likelihood of economic deposits.

❌ Negative Aspects

• No existing JORC-compliant resource estimate—means the project is still highly speculative.
• Historical workings were small-scale—raises concerns about whether significant deposits exist.
• No modern drilling has been conducted—current data relies on historic workings and assumptions.

2. Geology & Mineralization

Geological Setting

• Hosted within the Southern New England Orogen (SNEO).
• Antimony occurs in hydrothermal quartz veins, breccias, and stockworks.
• Gold is associated with stibnite in carbonate breccias.
• Major structures: Peel Fault, Namoi Fault, Cobadah Fault.

✅ Positive Aspects

• Structural traps (fault zones) provide a good setting for mineralization.
• Gold-antimony association is geologically favorable, as seen in other deposits like Hillgrove.
• Underexplored region—historical focus was on gold, not antimony.

❌ Negative Aspects

• Lack of drilling data—No deep testing of structures.
• No metallurgical data—Unclear how recoverable antimony and gold are from the host rocks.

3. Sampling Program & Data Analysis

Planned Sampling

• Total Samples:1,300+ rock chip & soil samples.
• Sample Sites:
  1. Oaky Creek – Twin historical stibnite workings.
  2. East Hills – Stibnite-bearing reef.
  3. Horsley Station – Gold-bearing quartz reef.

3.1 Oaky Creek – Antimony Workings

Key Features

• Two historic antimony workings (100 years old).
• Located 2 km apart, along Namoi Fault.
• Hosted in carbonate breccia & altered sandstone.
• Trace gold reported.

Sampling Plan

• 1,025 soil samples planned.
• 100m line spacing, 50m sample intervals.

✅ Positive Aspects

• Presence of historical workings confirms antimony mineralization.
• Large sampling grid (4 x 1.2 km block) ensures comprehensive coverage.

❌ Negative Aspects

• Age of workings (100 years) raises concerns about previous economic viability.
• No previous drilling data available for deeper structures.
• Only "trace" gold detected—not enough evidence for a gold resource.

3.2 East Hills – Antimony Shaft

Key Features

• Stibnite-bearing reef with a strike of 170°.
• Lies parallel to Peel Fault and Cobadah Fault.
• Hosted in metasedimentary rocks.

Sampling Plan

• 88 soil samples planned.
• 500 x 600m grid, 100m line spacing, 50m sample interval.

✅ Positive Aspects

• Structural setting is promising—fault-related mineralization increases chances of a large system.
• High-priority target due to its proximity to known antimony deposits.

❌ Negative Aspects

• Sample grid is relatively small (500 x 600m)—may not be large enough to define a major resource.
• No clear evidence of high-grade gold.

3.3 Horsley Station – Gold and Stibnite Prospect

Key Features

• Historical small-scale gold workings.
• Gold reef is 3m wide, strikes 010° over 10m.
• Associated with Peel Fault.

Sampling Plan

• 233 soil samples planned.
• 100m line spacing, 50m sample intervals.

✅ Positive Aspects

• Known gold occurrence—historical production supports further work.
• Peel Fault-associated mineralization is promising.

❌ Negative Aspects

• Small-scale historical workings suggest limited gold tonnage.
• Limited sampling (233 samples) may not fully define mineralization extent.

4. Structural & Geophysical Context

Major Structural Features

• Peel Fault System: 400 km long, associated with numerous gold and base metal occurrences.
• Namoi & Cobadah Faults: Parallel splays off Peel Fault.

Comparison with Hillgrove Antimony-Gold Mine

• RMX suggests similarities between Armidale and the Hillgrove Gold-Antimony Mine (ASX: LRV).
• Hillgrove is a proven deposit, producing >700,000 oz of gold & 50,000t of antimony.
• Armidale has a similar setting but lacks defined resources.

✅ Positive Aspects

• High structural complexity supports potential mineralization.
• Underexplored—potential for undiscovered deposits.

❌ Negative Aspects

• RMX is implying a similarity to Hillgrove, but no direct evidence yet.
• No drilling to confirm the presence of economic antimony/gold deposits.

5. Economic Considerations

Antimony Market Outlook

• Antimony is a critical mineral used in batteries, flame retardants, and alloys.
• China dominates global antimony supply, raising demand for new sources.

Gold Market Outlook

• Gold remains strong at ~$2,900/oz.
• Gold-antimony association is economically attractive.

✅ Positive Aspects

• Critical mineral status could attract government incentives for development.
• Demand for battery metals supports potential value.

❌ Negative Aspects

• RMX has no current economic model for the project.
• Viability depends on defining a resource, which is not yet done.

6. Risks & Challenges

Key Risks

1. Exploration Stage Risk

   • No JORC-compliant resources yet.
   • Project remains speculative until drilling confirms economic mineralization.

2. Historic Workings Were Small

   • Previous miners only developed small shafts & pits.
   • This suggests deposits may not be large-scale.

3. Metallurgical Uncertainty

   • No data on antimony/gold recovery rates.
   • Processing complexity (arsenic, refractory ores) could be an issue.

4. Funding & Timeline

   • No announced budget for future drilling.
   • Project progression depends on securing financing.

Final Verdict: Investment Risk & Potential

Category	Score (Out of 5)
Geological Potential	4.0
Exploration Progress	2.5
Resource Definition	1.5
Economic Viability	2.5
Infrastructure & Access	3.0
Overall Score	2.7 / 5 (Moderate to High Risk)

Final Conclusion

• Strong geological potential, but lacks drilling confirmation.
• Antimony’s market relevance is a key advantage.
• The project needs deeper testing & financial backing before becoming viable.
• Investors should expect a long exploration timeline with high risks.