RMX 0.00% 0.1¢ red mountain mining limited

rmx on monday 03mar2014

  1. 215 Posts.
    Snip from last announcement

    Results have been received for the first of these four drillholes, LB92, that intersected a faulted quartzbarite-
    sulphide lode of 1.5m @ 8.07 g/t Au from 5.25m downhole including 0.5m @ 12.0 g/t Au (see cross
    section Figure 3). The second drillhole, LB93, intersected a 3.35m zone of quartz-sulphide veining from
    1.45m down hole and the third hole on this section, LB95, intersected a 1.5m mineralised fault breccia zone
    from 14.5m down hole.
    The lode intersections are approximately true width and the company is waiting for the remaining results
    from these holes. Drilling will continue to the north and south of this section with the objective of defining
    further gold Mineral Resources (see Table 1 below for drilling results to date).

    RMX found gold @ LB92 however, isn't this hole is outside the gold channel? If yes, that means good news to me(IMO).

    Its amazing how people dumped their shares when announcement did not show +100g/tonne of gold. 1 drill hole result and panic sets in. Expectations was of the charts. It would have been nice for it to happen, but common people, the drill hole was outside the periphery of channel!

    LB93 LB94 LB95 are also outside the tunnel and further away from tunnel than hole LB92. I don't expect to see bonanza find. They will find gold but not the bonanza find IMO. I had to repeat this just to wake everyone up and not to expect too much. Stop dreaming for +100g/tonnes for these holes.

    The company is circa $8-13 million. Too elfin cheap to me. If RMX confirms more +50g/tonne IN THE CHANNEL, we (the ones that have shares) will all be laughing.

    Further drilling & results to come.

    We are all anticipating for a positive announcement. ..hopefully soon.

    All IMO only. DYOR.
 
watchlist Created with Sketch. Add RMX (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.