Red Mountain Mining (ASX:RMX) has staked 199 mining claims at the north-east region of Nevada, US, located in the Granite Range some 34km south-east of the township Jackpot.
The series of claims, which the $10.7 million market capitalisation company refers to as the Magante Project, have been recorded by both US Bureau of Land Management and the Elko County in Nevada.
The Magante Project is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package.
About 8km south-west of Magante, Surge Battery Metals (TSXV:NILI) made initial discovery at its Nevada North Lithium Project (NNLP), identifying a strong mineralised zone of lithium bearing clays occupying a strike length of circa 1,620m, with the average lithium content within all near surface clay zones intercepted of 3,254ppm Li.
Red Mountain notes more recently, drilling by Surge has returned multiple zones of high lithium values ranging from 1,000ppm to 8,070ppm Li.
Red Mountain endeavours to explore its Magante ground for mineral occurrences analogous to that of NNLP, with initial strategy to complete maiden sampling and geological mapping.
A comprehensive sampling program is currently being prepared for the Magante Project. Subject to personnel availability, the company expects the sampling process to begin towards the end of October, with fast-tracked assay results to be received mid to late November.
Red Mountain Mining is an ASX-listed mineral exploration and development company with a portfolio of critical minerals including lithium, rare earth, gold, and base metal projects, located in the US and Australia.
The company’s flagship projects are based in Nevada US, prospective for lithium claystone mineralisaton. Other projects include the Monjebup Rare Earths Project and the Koonenberry Gold Project.
Write to Adam Orlando at Mining.com.au
Images: Red Mountain & Surge Battery Metals
