What's Happening?
Red Mountain Mining, an exploration and development company, has acquired 87 claims in the Utah Antimony Project, located 11km east of Antimony, Utah. The acquisition was secured through direct staking with the US Bureau of Land Management and was fully funded from the company's internal cash reserves, totaling A$138,000 ($91,212.2). The company plans to conduct an initial exploration program to map the extensions of north-south structures associated with antimony mineralization at Antimony Canyon and Dry Wash Canyon. A desktop study is underway, assessing available magnetic and topographic data, which will be reviewed and potentially augmented by high-resolution drone magnetics and surface reconnaissance mapping. The preliminary work aims to define areas for more intensive follow-up studies, including ground electromagnetics to detect sulphide mineralization beneath shallow cover.
Why It's Important?
The acquisition aligns with the US Government's push to secure critical mineral supply chains by building domestic supply. Antimony is a critical mineral used in various applications, including flame retardants and batteries. Red Mountain Mining's project is adjacent to Trigg Minerals' Antimony Canyon Project, which is poised to become one of the first significant modern domestic producers of antimony for the US market. This development could enhance the US's self-sufficiency in critical minerals, reducing reliance on foreign sources and potentially boosting local economies through job creation and investment in mining infrastructure.
What's Next?
Red Mountain Mining plans to conduct more intensive follow-up studies, including shallow trenching, auger, and rotary air blast drilling to test for antimony through the transported cover. The company is positioned to rapidly advance the Utah Antimony Project, supported by an experienced US-based technical team. The success of these studies could lead to further development and production, contributing to the US's critical mineral supply chain.
