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RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2012
Aug 6, 2012
65719_rns_2012-08-06_f1415d99-0405-4d7e-bacc-a69052f8283f.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
7 August 2012
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Drilling Commences on Potential High-Grade Gold “Feeders” at Batangas Project
Red Mountain Mining Ltd (ASX: RMX) is pleased to announce that, funded by a loan facility from RMX, Mindoro Resources Ltd (Mindoro) commenced diamond core drilling on Sunday 5 August, targeting potential high-grade gold feeder zones at Archangel within the Batangas Project.
It is expected that the initial program will include at least five diamond core drill holes, each targeting a separate interpreted feeder structure within the Kay Tanda resource area of the Archangel gold project. The results and information from this program will assist planning for systematic resource definition and resource expansion drilling scheduled to commence in October.
The first hole will target the central part of the Kay Tanda resource area, within the Archangel project where previous high-grade intersections have been interpreted as an up-flow or “feeder” zone. Figure 1 shows a cross section at local grid 9900N with the planned drill hole location, PDH-A.
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Figure 1 - Kay Tanda cross section 9900N showing planned drill hole and interpreted high grade feeder zone
CONTACT DETAILS Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Director Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 Shannon Coates www.redmm.com.au Company Secretary [email protected]
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ASX code: RMX COMPANY DIRECTORS ABN 40 119568106 Neil Warburton Executive Chairman & Acting CEO Keith Rowe Executive Director
For further information about Red Mountain Mining please visit www.redmm.com.au or contact:
Company Investors Neil Warburton Ronn Bechler Executive Chairman Market Eye (+61) 408935014 (+61) 400 009 774 (+61 8) 9226 5668 (+61 3) 9591 8901
About Red Mountain Mining Limited
Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company incorporated in Australia in May 2006 and which listed on the ASX in September 2011. The Company’s strategy is to unlock the potential of ‘under-developed’ gold and polymetallic projects in the greater Asian region by introducing Australian mining methods and improving efficiencies to gain significant production and exploration upside.
The company has recently signed a binding Share Sale Agreement to acquire significant gold resources and copper gold tenements in the Philippines. Other opportunities will be reviewed once the Philippines acquisition has been completed.
Competent Person Statement
The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Jon Dugdale, who is a member of The Australasian Institute of Mining and Metallurgy.
Jon Dugdale is President and CEO of Mindoro Resources and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Jon Dugdale consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office
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ASX code: RMX ABN 40 119568106
COMPANY DIRECTORS Neil Warburton Executive Chairman & Acting CEO Keith Rowe Executive Director
Michael Wolley Non-Executive Director Unit 1, 2 Richardson Street West Perth Western Australia 6005 Shannon Coates Company Secretary
www.redmm.com.au [email protected]
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ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Unit 1, 2 Richardson Street Executive Director West Perth Western Australia 6005 Shannon Coates www.redmm.com.au Company Secretary [email protected]