Gold Mountain expands Down Under REE project in Brazil with new exploration results
Gold Mountain (ASX: GMN) has expanded its promising Down Under rare earth element (REE) project area in Brazil following significant new exploration results.
The company has applied for nine new tenements to cover extensions of very highly anomalous catchments in the northwest of the Irajuba tenements surrounding the Down Under project.
The tenements applied for follow the previously identified fold zone that appears to control the high-grade stream sediment sample distribution northwest to the boundary with the Ronaldinho project tenements.
Further success
The move to grow its position at Irajuba comes as a new batch of stream samples has extended and consolidated the areas of high-grade results previously released on 24 July.
Highlight assays from the regional stream sediment sampling measured as high as 1,665 parts per million total rare earth oxide (TREO).
The company had previously identified broad contiguous catchment areas with strongly anomalous geochemical REE assay results and the current results fill gaps in previous coverage and extend the areas of very high-grade catchment areas.
Additional tenements have been applied for to cover extensions to anomalies the company has recognised.
Hard rock monazite
Gold Mountain’s initial exploration work at Down Under has identified the potential for ultra-high grade hard rock monazite-hosted REE-niobium, uranium and scandium mineralisation.
This has been further consolidated by the new stream sediment sample results, which are coincident with higher value TREO anomalies.
The company is preparing for an upcoming drill program to follow up its sampling success and has designed additional drill sites to test the extended areas of the most highly anomalous results for both hard rock monazite mineralisation as well as IAC mineralisation.
Gold Mountain has ordered a second auger rig and permits have been lodged for drilling in the Irajuba area and the company is also planning to undertake radiometric traversing within the most highly anomalous catchments and along all drill traverse lines to search for potential ultra-high grade hard rock deposits.