Red Mountain Mining Ltd (ASX:RMX) Unveils Promising Findings from Fry Lake Gold Project
Study Findings
Red Mountain Mining Ltd (ASX:RMX) has completed a detailed desktop study of its Fry Lake Gold Project. The review highlights significant residual potential across the Fry Lake Stock, Fry-McVean Shear, and Relyea Porphyry claims. Historic drilling revealed gold intersections with up to 1.6 g/t Au, supported by recent VTEM survey data indicating conductive and magnetic features favorable for gold mineralisation.
Exploration Highlights
The Fry-McVean Shear is identified as a key structure hosting promising gold mineralisation. Multiple historic drill holes have reported anomalous gold levels, with some intervals reaching 1.6 g/t Au. The VTEM survey conducted in 2016 by Geotech further corroborates the presence of electromagnetic conductors associated with the shear, extending over 8 kilometers.
Future Exploration Plans
Building on the Flicka Lake success, Red Mountain plans extensive exploration during the Canadian 2025 field season. The strategy includes targeting high-grade quartz-vein hosted gold areas, investigating new soil anomalies, and exploring copper-rich polymetallic zones. The company also considers utilizing VTEM technology to refine conductive targets for potential drilling, enhancing the project’s exploration efficiency.
Project Overview
The Fry Lake Gold Project, situated in Ontario’s Meen-Dempster Greenstone Belt, comprises four key claims: Flicka Lake, Fry Lake Stock, Fry-McVean Shear, and Relyea Porphyry. These areas show substantial promise for undiscovered orogenic gold and base metal mineralisation, with geological settings conducive to economically viable deposits.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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