Mt Mansbridge Heavy Rare Earths

Project Overview

The tenements lie approximately 40km from Northern Minerals’ (ASX: NTU) flagship Browns Range project. The project area has been subject to exploration activities since the 1970’s, primarily for uranium, gold and diamonds which were all unsuccessful. The presence of the REE mineral xenotime in the Killi Killi Prospect has been overlooked and RMX now see the opportunity to capitalise on this and determine whether there is an economically viable concentration of REE’s. Also, within the project area is the Déjà vu Prospect that contains an ultramafic intrusion which RMX intends to assess from the perspective of nickel-cobalt prospectivity. In response to the security of REE supply and global demand for battery minerals due to the rapid growth in lithium ion batteries for electric vehicles, Red Mountain Mining seeks to fast track exploration and development of the Mt Mansbridge Project which is prospective for Heavy Rare Earth Elements (HREE) and nickel-cobalt.

As announced on 17 March, 2020, Red Mountain previously completed the compilation of a comprehensive database, including historical geochemistry, geophysics and drilling data. With the regional unconformity, host to the REE mineralization, extending over 30 kms at the Mt Mansbridge Project, Red Mountain with the support of independent consultants, has commenced a geological assessment and reprocessing of geophysical data to delineate existing drill targets as well as generate new prospects. Subject to the wet season, Red Mountain will undertake a heritage survey as well as complete a reconnaissance field trip to ground truth areas of interest. The aim of the reconnaissance program is to prepare for an effective first pass exploration program with the following objectives: • Validate existing prospects and priority drill targets; • Identify the potential for basement hosted and unconformity-related REE mineralisation; and • Prepare site access and drill pads. Following the reconnaissance program, Red Mountain will commence a drill program to test the Mt Mansbridge area for REE mineralisation. Drilling is expected to occur in 2021.