Red Mountain the latest to join critical minerals rush in Utah with 87 claims
Red Mountain Mining (ASX:RMX) has expanded its U.S. critical minerals portfolio, buying up 87 claims in the state’s Antimony Mining District – the “Utah Antimony Project” – straight from the Bureau of Land Management.
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The prospective claims are 11 kilometres east of Antimony and adjoin Trigg Minerals’ (ASX:TMG) Antimony Canyon Project, one of the largest and highest-grade antimony developments across the U.S. right now.
Antimony-bearing geological structures in Trigg’s claim are interpreted to extend beneath shallow cover into Red Mountain’s ground, the company says.
While no mineral resources have been defined within these claims yet, Red Mountain believes geological continuity suggests “strong discovery potential.” Adding to those beliefs is the fact that Trigg did just report channel sampling results, including 1.5 metres at 33.2% antimony from its nearby Stebenite Mine.
And, even more importantly, Red Mountain is looking to strike while the iron’s hot in the States: Trump last month turned his attention to securing the U.S. critical minerals supply with a $1 billion investment plan.
Antimony, which stands key in producing flame retardants and alloys, and is used in defence applications, has recently hit historic price highs.
“The Utah Antimony Project aligns with the U.S. government’s urgent push to secure its critical mineral supply chain by rapidly building domestic supply,” Red Mountain’s managing director, Lincoln Liu, explained.
He continued: “We’re proud to have an established and highly experienced U.S.-based technical team placing RMX and our shareholders in a tremendous position to rapidly advance our Utah Antimony Project.”
HotCopper understands that U.S. team will lead the exploration in Utah and will “continue to assess further opportunities” at the same time.
RMX burst out the gates on Thursday; up +25% in the first hour.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.
Red Mountain Mining (ASX:RMX) has expanded its U.S. critical...
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