Red Mountain Mining Limited (ASX: RMX) has kicked off Phase 1 of a Reverse Circulation (RC) drilling programme at the Mustang Lithium Project in Nevada, USA.
Local drilling company, Alloy Drilling LLC, has been engaged to undertake Mustang’s maiden Phase 1 drilling programme, which consists of eight holes drilled to a maximum of 150m in depth to target lithium bearing clay horizons.
Additional mapping and surface sampling is nearing completion at the Lithic Lithium Project. This initiative will assist RMX with further evaluation of the project’s lithology and stratigraphy and assist in providing future drill targets. A drilling programme for Lithic will be subsequently designed upon receipt of assay results from surface sampling.
Geological Setting – Nevada hosts the world’s largest known lithium deposits including:
o Defence Production Act – The USA has recently invoked the Defence Production Act in an effort to encourage and secure domestic production of battery materials.
o Offtake Partners – Close proximity to giga factories and manufacturers with substantial lithium supply requirements.
o Security – Nevada enjoys a legal framework characterized by clear laws and reliable enforcement.
o Policy–In the United States there is bipartisan support and funding for promoting clean energy and fostering clean energy investment.
o Minimal Outlays– Nevada has no minimum annual expenditure requirements.
For further information please visit: https://www.redmountainmining.com.au/