Red Mountain Mining (ASX:RMX) plans to fast-track sampling results to expedite phase two drilling at its Mustang Lithium Project in Nevada, US.
Given the ‘impressive’ assay results received from the area to date, the company says its phase two drilling will aim to further test the lithium mineralisation potential Mustang.
Red Mountain is currently awaiting assay results from surface sampling across the Lithic prospect but says once all assays have been received, it will be able to determine drilling targets and lodge relevant drilling permit applications to the Nevada Bureau of Land Management.
Today’s news follows the confirmation of lithium-bearing claystone from Red Mountain’s phase one reverse circulation (RC) drilling campaign at Mustang.
Commenting on the planned exploration activities, Red Mountain Mining Chairman Troy Flannery says: “We are very excited to have received such consistency in lithium mineralisation results from a maiden drilling campaign targeting an interpreted greenfields prospect.
“This provides Red Mountain with plenty of confidence going forward…”
This provides Red Mountain with plenty of confidence going forward as we aim to progress phase two drilling targeting the areas further north of our ground to expand our findings and commence building a lithium resource.”
Red Mountain reports ‘significant’, thick, ‘high-grade’ lithium claystone was intersected in 8 out of 10 drillholes at the greenfields tenure of Mustang, with 7 holes intersecting ‘high-grade’ lithium from or near surface.
Some of the recent assays recorded include hole RMDH-1 with 48.77m @ 687 parts per million (ppm) lithium (Li) from 3.05m; hole RMDH-2 with 30.50m @ 629ppm Li from surface; and hole RMDH-3 with 30.50m @ 608ppm Li from 4.6m.
The Mustang Lithium Project consists of 140 claims and is located on the southeastern flank of the hydrologically closed Monte Cristo Valley in Nevada, US.
Red Mountain Mining is a mineral exploration and development company with a portfolio of critical minerals, including lithium, rare earths, and base metal, projects in Australia and the US.
Write to Aaliyah Rogan at Mining.com.au
Images: Red Mountain Mining Ltd