Red Mountain Mining Ltd – Strategic Expansion of Antimony‑Gold Exploration
Red Mountain Mining Ltd (ASX: RMX) has moved decisively to advance its high‑grade antimony‑gold portfolio through an expanded auger soil‑sampling program at the Oaky Creek prospect, situated within the company’s 100 % owned Armidale Antimony‑Gold Project in the Southern New England Orogen of New South Wales.
The announcement, released on 2 February 2026, follows the company’s earlier disclosure on 1 February 2026 of a comprehensive exploration programme aimed at testing the full ~3 km strike extent of the conventional antimony soil anomalies at Oaky Creek North and South. The program is expected to be completed, with all analytical results received by March, and is designed to identify multiple orogenic antimony‑gold targets for drilling in the next quarter.
Geological Context and Proven Results
The Oaky Creek prospect has already yielded large coherent soil anomalies and assay results up to 39.3 % Sb and 1.09 ppm Au. These findings strongly indicate a large‑scale orogenic antimony‑gold vein system, analogous to Larvotto Resources’ Hillgrove project—Australia’s largest known antimony deposit. The geological setting, highlighted in the company’s recent TMI RTP imagery, shares structural, lithological, and mineralogical similarities with other high‑grade occurrences within the Armidale project, including East Hills antimony prospects, Horsley Station gold prospect, and Horsley North magnetic target.
Funding and Forward Outlook
Red Mountain secured additional capital in late 2025, backed by three high‑net‑worth and family‑office investors who are also featured in the Top 20 of Larvotto (ASX: LRV). This financing ensures the company is fully funded to execute the comprehensive exploration programme. The company’s strategy is to use the auger data to define drill targets that will test the full ~3 km strike extent, thereby validating the extent of the antimony‑gold system and providing a clear pathway to the next phase of drilling.
The company is also actively pursuing new critical‑metal opportunities across the United States and Australia, with potential project acquisitions expected to be finalized in early February. This dual‑front strategy positions Red Mountain to capitalize on the growing demand for antimony, a key critical mineral in battery and electronics manufacturing, while simultaneously expanding its gold exploration footprint.
Market Position and Financial Context
With a market cap of AUD 23.53 million and a price‑earnings ratio of –4.27, the company remains in a development phase, focusing on building a production pipeline rather than immediate profitability. The close price on 29 January 2026 was AUD 0.025, within a 52‑week range of AUD 0.048 (high) to AUD 0.006 (low), reflecting the volatility typical of junior exploration firms.
Conclusion
Red Mountain Mining’s aggressive exploration strategy at Oaky Creek signals a clear intent to move from exploration to a production‑ready portfolio of high‑grade antimony‑gold assets. By leveraging proven Australian mining techniques and modern exploration methods, the company is poised to translate significant geological potential into a tangible, future‑ready asset base that aligns with global critical‑mineral supply chain priorities. The forthcoming drill results in Q2 2026 will be pivotal in determining the trajectory of Red Mountain’s growth and its capacity to deliver value to shareholders.
