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Red Mountain hits pay dirt - again

High grade Perth gold explorer Red Mountain Mining has again struck exceptionally good gold grades during surface trenching at its Batangas project in the Philippines.

The company recently reported exceptional intersections of 7m @ 20.5 g/t gold, 1.5m@ 25.4 g/t gold, 5m @ 8.83 g/t gold and 7m @ 11.5 g/t which included a bonanza 1 m intersection grading an impressive 50.9 g/t gold.

One particular rock chip sample returned spectacular numbers of almost 5 ounces to the tonne at 151.5 g/t gold.

The latest round of exploration at Batangas has further defined an exciting, super high grade gold zone that outcrops right at surface making it an irresistible low cost target for first ore production.

When considered in conjunction with previously announced results of 8m @ 18 g/t gold and 6m @ an ounce to the tonne which includes 1m at a whopping 122 g/t gold, the new results at the Lobo prospect within the Batangas project  look exceptional.

Red Mountain Managing Director Jon Dugdale said: “These exceptionally high-grade trenching results have defined a very attractive drilling target, to potentially extend the South West Breccia resource.”

“Drilling will commence as soon as we complete test pitting of the Tamarind target, with the objective of adding to the high grade resource and potentially making a breakthrough discovery.”

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Total Shareholder Return as at 30/11/18

1 year TSR5 year TSR
21stKing River Copper184%-11%
203rdApollo Consolidated10%43%
465thSiburan Resources-25%-43%
554thMarenica Energy-38%-26%
722ndRed Mountain Mining-61%-46%
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229th↓Red Mountain Mining$161k
231st↓Apollo Consolidated$157k
232nd↓King River Copper$152k
234th↑Siburan Resources$151k
235th↓Marenica Energy$151k
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