Red Mountain (ASX:RMX) has scored a ~$150,000 WA Government grant to drill some Heavy Rare Earth Element (HREE) targets at the Mt. Mansbridge project later this year.
The EIS Grant – which contributes up to 50% of direct drilling costs — will help fund drilling to test HREE targets at Mt. Mansbridge, in the Kimberley region of WA.
In February, Red Mountain announced that 32 HREE targets had been identified at Mt Mansbridge via airborne radiometric survey, a proven way to vector in on HREE deposits.
An upcoming exploration program consists of soil sampling, rock chipping and mapping of these HREE prospects prior to drilling.
The targets are analogous to Northern Minerals’ (ASX: NTU) unconformity related HREE deposits ‘Dazzler’ and ‘Iceman’, Red Mountain said.
“Furthermore, the survey highlighted ‘Mt Mainsbridge South’, a prospect with known xenotime mineralisation,” it said.
“This is considered particularly encouraging as it validates the exploration technique as an effective method of identifying areas prospective for HREE mineralisation.”
It is expected that several targets will be highlighted during this upcoming exploration program and prioritised for EIS Grant assisted drill testing later in the year.
This article was developed in collaboration with Red Mountain, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post Red Mountain to test numerous heavy rare earths targets at Mt Mansbridge ahead of drilling appeared first on Stockhead.
Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.