Red Mountain Mining (ASX: RMX) has experienced a strong debut on the mid-tier OTCQB equity market, with the company’s share price soaring 36% to $0.054 on the first day of trade with robust market activity and high levels of US-based investor engagement.
The company is working closely with its US specialist advisors to enhance and complement the benefits of the OTCQB listing.
Red Mountain is also continuing its discussions with potential strategic partners to fast-track its US and Australian critical minerals portfolio, which includes prospective and well-located antimony projects in the Tier 1 mining jurisdictions of Idaho and Utah.
Critical Minerals Shortage
Red Mountain is looking to expand its portfolio with the goal of leveraging what experts have described as an “unprecedented shortage” strategic and critical metals from Western sources.
The resolution of the recent US government shutdown is expected to advance the company’s aggressive growth and expansion strategy, with the announcement of new growth initiatives planned before year end.
Recent strong antimony results have highlighted the potential of Red Mountain’s ++Armidale project++ in New South Wales, which covers almost 400 square kilometres of acreage adjacent to the highly-prospective Peel Fault.
It lies within the same geological province and hosts a similar style of orogenic antimony-gold mineralisation as Larvotto Resources’ (ASX: LRV) Hillgrove project, Australia’s largest known antimony deposit.
Exploration Prospects
The company has rapidly explored the Oaky Creek prospect in the northern portion of the tenement, as well as the East Hills (antimony) and Horsley Station (gold) targets.
Oaky Creek has returned antimony-in-soil results of up to 333 parts per million, as well as rock chip values of up to 39.3% antimony and 1.09 grams per tonne gold.
Initial rock chip samples from East Hills delivered a best result of 9.9% antimony and rock chip samples from Horsley Station returned up to 0.25g/t gold.
Red Mountain expects to receive new assays from exploration at Armidale – where its initial strategy has been to investigate historical mineral occurrences associated with major and minor structures of the Peel Fault system – before month end.
It is also set to present at the Australian Rare Earths & Critical Minerals Investor Conference on 19 November, which will be distributed across the broader US capital markets network.
