Red Mountain Mining Limited (RMXFF) Further Strong Tungsten and Copper Assays at Pioneer Project

Red Mountain Mining Limited has announced exceptional rock chip sampling results from its 100% owned Pioneer Tungsten Project in Montana, USA. The program identified 50 samples over 500ppm WO3 and 31 samples over 1,000ppm WO3, with the highest value being 0.55% WO3 (5,473ppm) at the Greenstone prospect. Significant polymetallic potential was also identified, with results up to 6.72% Cu, 462g/t Ag, and 3.88 g/t Au, particularly at the Greenstone and Glow Worm prospects.

Tungsten highlights from the sampling include 50 rock chip samples returning greater than 500ppm WO3 and 31 samples returning greater than 1,000ppm WO3. The best values recorded were 0.55% WO3 (5,473ppm) at Greenstone, 0.40% WO3 (4,036ppm) at Glow Worm, and 0.32% WO3 (3,241ppm) at Lost Creek.

Base and precious metal highlights showed copper grades up to 6.72% Cu at Greenstone and up to 3.97% Cu at Glow Worm. Silver grades reached up to 462 g/t Ag at Greenstone and up to 199 g/t Ag at Glow Worm. Gold grades were recorded up to 3.88 g/t Au at Greenstone and up to 0.81 g/t Au at Glow Worm.

At the Greenstone prospect, 30 of 113 samples contained greater than 500ppm WO3, while 17 contained greater than 1,000ppm WO3. Mineralization is concentrated along a ~400m strike extent SSW of the Greenstone Mine Claim. At Glow Worm, 12 of 57 samples contained greater than 500ppm WO3, and 8 contained greater than 1,000ppm WO3. Additionally, seven of 23 soil samples contained greater than 50ppm WO3, with a maximum of 383ppm. At Lost Creek, 8 of 13 samples contained greater than 500ppm WO3, and 6 contained greater than 1,000ppm WO3.

The company has expanded the project footprint to 517 Ha, more than doubling the previous size. The expanded area includes four prospects: Greenstone, Glow Worm, Mammoth, and Lost Creek. The Mammoth prospect previously reported anomalous values up to 0.29% WO3 (2,856ppm).

Mineralization is hosted in limestone-hosted garnet skarns along the eastern margin of the Cretaceous Mount Torrey Batholith. The project is adjacent to Almonty Industries' Gentung Tungsten Deposit (6.83Mt @ 0.315% WO3) and historical mines (Ivanhoe and Lost Creek) that produced ~680kt of tungsten ore in the 1950s and 1970s.

Commenting on the results, the company stated: "These results confirm the highly prospective nature of the project for Tungsten mineralisation with the claims encompassing similar geology and positioned adjacent to Almonty Industries' (Market Cap AU$7 billion) Gentung Tungsten Deposit..." It further noted, "This absence of other metals may be an indicator that these two areas are within a portion of the skarn system that is 'tungsten only' and therefore potentially of higher prospectivity for economic-scale tungsten skarn development."

Magnetic modeling by Arrow Geosciences indicates subsurface magnetic bodies interpreted as granodiorite sources for skarn mineralization. The company plans to prioritize drill testing at the southern portion of Greenstone and the northern portion of Lost Creek following further surface mapping. Further mapping and sampling are planned for an October field program.