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Hongshan Mining Company acquires 87 interests in the Utah antimony project
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Release time：2025-09-12
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The funds for this acquisition come entirely from the company's internal cash reserves.
Red Mountain Mining, a company focused on the exploration and development of gold and critical minerals, announced the acquisition of 87 interests in an antimony project in Utah, USA. The project is located 11 kilometers east of Antimony, Utah, secured through direct investment with the U.S. Bureau of Land Management. The total acquisition amount is AUD 138,000 (USD 91,212.2), fully funded by the company's internal cash reserves. The company's initial exploration plan aims to map the concealed extensions of north-south structures related to antimony mineralization, located in Antimony Canyon and Dry Wash Canyon, extending into the Red Mountain mining area. Desktop studies are currently underway to evaluate available magnetic and topographic data.
This study will undergo a preliminary review and may be enhanced by high-resolution drone magnetometry and ground reconnaissance mapping to confirm the locations of secondary structural features. This initial work will help identify areas for more in-depth follow-up studies, including ground electromagnetics, a method that can directly detect sulfide mineralization beneath shallow cover. The company is also considering the use of shallow trenches, auger drilling, and rotary air blast drilling to effectively detect antimony through transported cover.
Lincoln Liu, General Manager of Red Mountain, stated: "The Utah antimony project aligns with the U.S. government's urgent initiative to secure its critical mineral supply chains by rapidly establishing domestic supplies. Our project neighbors Trigg Minerals' Antimony Canyon project, which is leading the U.S. market as one of the first significant modern domestic antimony producers. We are honored to have an experienced and strong U.S. technical team, which will bring great advantages to RMX and our shareholders, helping us rapidly advance the development of the Utah antimony project."
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