Red Mountain Mining: June Quarter 2013 Report
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Red Mountain Mining: June Quarter 2013 Report
HIGHLIGHTS
• Two drillholes tested high-grade epithermal vein targets at the Pica
prospect, Lobo Project, intersecting multiple shallow dipping veins and
producing a peak intersection in PC-05 of 5 metres (m) at 4.28 g/gold (Au)
and 15.75 g/t silver (Ag) from 22.4m downhole.
• Further sampling at the Ulupong prospect, Lobo Project, produced highgrade rockchip sample results including 6.68 g/t gold Au and 67.4 g/t
silver Ag and 5.48 g/t Au and 21.9 g/t Ag.
• Post quarter end, Exploration Targets were produced for the outcropping
Pica and Japanese Tunnel epithermal gold prospects at Lobo, with drill
testing planned for the next quarter.
• Quotes have been received to complete an engineering scoping study for a
gold project processing approximately 500,000 tonnes per annum.
• Approximately $600,000 (before costs) raised via a partially and
conditionally underwritten pro rata renounceable Rights Issue. Funds will
be used for exploration drilling and general working capital.
• Cash conservation policy implemented during the quarter including 20%
reduction in Board and Senior management salaries and a reduction in the
number of board members and staff on site.
• $1million in cashand no debt as at 30 June2013.
To view the entire report please follow the link:
http://www.redmm.com.au/files/nrteUploadFiles/262F072F2013113A003A31AM.pdf
Leseranfragen:
Red Mountain Mining Ltd.
Unit 1, 2 Richardson St
West Perth, Western Australia 6005
Neil Warburton
Executive Chairman
(+61) 408935014
(+61) 8 9226 5668
Datum: 02.08.2013 - 08:25 Uhr
Sprache: Deutsch
News-ID 284216
Anzahl Zeichen: 1694
contact information:
Town:
Wien
Kategorie:
Business News
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