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Red Mountain Mining Limited (ASX:RMX)

ALERT: Price-sensitive ASX Announcement for RMX
Current share price for RMX : $0.013 -0.002 (-13.33%)+
Announcement
Release
18 May 2026 8:21AM
Price at Release
$0.015
Full Release
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Summary
Red Mountain Mining Limited has received approval from the NSW Resources Regulator for a reverse circulation drilling program at the Oaky Creek Antimony-Gold Project in New South Wales. The program, consisting of up to 32 holes, aims to test significant antimony-gold targets identified through comprehensive geochemical sampling. In addition, an orientation Induced Polarisation (IP) survey was completed at Oaky Creek South to help identify potential deeper mineralisation, with results expected to guide further exploration drilling. The company is well-funded to pursue its exploration goals, with a recent capital raise providing a funding capacity of approximately $4 million. Red Mountain is also conducting due diligence on the Pioneer Tungsten Project in Montana and is expected to report outcomes soon.
Key Points
  • Drilling approval for 32 holes at Oaky Creek targeting antimony-gold.
  • IP survey completed at Oaky Creek South for mineralisation detection.
  • Potential for deeper mineralisation testing at Oaky Creek South using IP results.
  • RMX is financially equipped with ~$4m for US and Australian projects.
  • Armidale Antimony-Gold Project covers a 3km orogenic antimony system.
  • IP survey uses GAIP and DDP techniques for mineralisation mapping.
  • Oaky Creek prospect features quartz-carbonate-stibnite veins.
  • Anticipation of further exploration based on IP survey results.
  • Red Mountain is finalizing Due Diligence at the Pioneer Tungsten Project in Montana.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.