Gold Mountain reports strong LCT pegmatite assays from Salinas II project
Gold Mountain (ASX: GMN) has reported strongly anomalous lithium-caesium-tantalum (LCT) pegmatite assays from the Agua Boa and Bananal Valley tenements at its Salinas II project in eastern Brazil.
The assays were returned from a batch of 55 stream sediment samples collected from an area along regional strike from the Collina lithium deposit owned by Latin Resources (ASX: LRS).
Sampling of the Agua Boa tenement is now complete and a future program of mapping and soil sampling has been proposed to develop drill targets.
Significant potential
Gold Mountain said the presence of strong lithium results within known pegmatite-bearing tenements has been “very encouraging” for another discovery within Latin’s lithium corridor.
“We believe the potential for significantly mineralised LCT pegmatites at both tenements is very high,” the company said.
“Multi-element anomalies consisting of beryllium-caesium-niobium-rubidium-tin-tantalum gave a good discrimination of the highest-order anomalies and prioritised an area for follow-up.”
Follow-up priorities
Very high magnitude results were received with peak values of 226 parts per million lithium at Agua Boa and 672ppm at Bananal Valley.
While all but one of the results were anomalous, only the highest-order anomalies were plotted to enable the company to prioritise areas for follow-up.
An area of preserved old surface exists in the northeast of Agua Boa and the results became weaker on approach but were still considered anomalous.
Salinas II acquisition
Gold Mountain acquired a 75% interest in the Salinas II tenements in December 2022 after securing an agreement with private company Mars Mines in which 125 million shares were issued to Mars Mines as consideration.
Mars Mines retained a 25% interest in the project and is being free-carried through the exploration phase to a decision to mine.
The package of seven highly-prospective lithium exploration licences covers an area of approximately 92.64 square kilometres in the Eastern Lithium Belt, which is part of the Brasiliano-Pan African Orogen.
Historical artisanal mining and modern exploration by Latin Resources has discovered the presence of wide, laterally extensive and high-grade LCT-type pegmatites in the region.