Red Mountain Mining Limited (ASX:RMX) (the, Company) is pleased to advise that it has made applications for 3
tenements that will comprise 100% ownership of a new project, Koonenberry, prospective for gold in northwestern New South Wales (Koonenberry Gold Project).
The Koonenberry Gold Project covers approximately 657 km2, and is located in a geologic setting considered
analogous to the prolific Victorian Goldfields located in south-eastern Australia.
The tenure straddles the northern extension of the Koonenberry Gold Field, and the contained New Bendigo Fault,
which is partly covered by extensive Cretaceous and Quaternary sediments.
Mineralisation in the targeted belt is associated with regionally significant compressive to transpressive structures
(shears, fault zones) with mineralisation generally located in or adjacent to lower order structures. A specific
combined, targeted innovative geochemical and geophysical program is seen as likely to be effective to potentially
delineate a primary source under cover, based on initial review of the extensive available geochemical and
geophysical data. This will be subsequently followed up with a reconnaissance drilling programme, subject to initial
groundwork results.
RMX Price at posting:
0.5¢ Sentiment: None Disclosure: Held
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