Gold Mountain continues expansion of Down Under’s REE potential in Brazil
Gold Mountain (ASX: GMN) continues to highlight the rare earth element (REE) potential of its Down Under project area in Brazil.
The company has received new high-grade results for 30 stream sediment samples from the Poções tenements within the Down Under project, solidifying the exploration success it has previously reported in this highly prospective area.
Among the highlights from testing the latest samples is the further confirmation of the potential for ultra-high-grade hard rock monazite-hosted REE niobium, uranium and scandium mineralisation.
Strong follow-up
Gold Mountain reported similar results in its initial exploration activities at Down Under earlier this month.
In that earlier sampling work, the company identified mineralisation with peak values of up to 1,196 parts per million total rare earth oxides among 54 stream samples collected within the Irajuba tenements at Down Under.
The company’s excitement about the REE potential of its Brazilian assets recently led Gold Mountain to apply for nine new tenements to cover extensions of highly anomalous catchments north-west of the Irajuba tenements.
The tenements applied for cover a previously identified fold zone that appears to control the high-grade stream sediment sample distribution north-west to the boundary with the Ronaldinho project tenements.
Poções tenements
These applications also include extensions of Poções’ anomalous catchments.
Gold Mountain is currently negotiating landowner agreements to allow for drilling, with other permits with state and federal governments already lodged.
The company is also working on identifying specific drill sites targeting well-preserved lateritic weathering areas.
As part of the next stage of exploration work, radiometric traversing will be undertaken within the most highly anomalous catchments and along all drill traverse lines to search for potential ultra-high-grade hard rock deposits.
Stream sediment pan concentrate sampling will continue to be used to define potential targets.