Gold Mountain (ASX: GMN) has identified more rare earths, uranium, niobium and scandium at its Down Under project in north-eastern Brazil as it continues its aggressive stream sediment sampling program within several of its tenements.
Management says its latest findings from its Poções tenements, which sit at the southern end of the Down Under ground in the Brazilian State of Bahia, point to the potential for high-grade, hard-rock monazite-hosted rare earths mineralisation at the site due to the coincident anomalous minerals found and with many of the total rare earth oxides (TREO) sampling at higher levels.
The company notes that peak values up to 587 parts per million TREO were recorded within the samples and all TREO anomalies compare favourably with orientation sampling conducted on ionic-adsorption clay (IAC) rare earths mineralisation.
As revealed by Gold Mountain previously following a series of promising assay results, the company is planning to plunge into additional drill sites to test the most anomalous catchment areas in its quest to unveil high-grade hard-rock monazite-hosted rare earths. Management recently outlined a series of plans to fully test the promising ground, with the identification of specific sites known to have a well-preserved lateritic weathering profile.
Gold Mountain is also planning to use radiometrics within the most anomalous catchment areas and along drill lines to search for high-grade deposits within its tenements. Plans to conduct stream sediment pan concentrate sampling and to test three groups of catchment areas defined by the strong geochemical anomalies are due in the near term.
Various targets have also been identified within several proposed drill sites and management is endeavouring to secure the necessary permits to drill its Irajuba tenements by the last quarter of this year.
The company has lodged applications for further tenements to extend the Poções anomalous catchment areas and they have been accepted by the National Mining Agency (ANM) – the authority responsible for governing Brazil’s mining industry.
In addition to the applications for further ground, the company has lodged Federal and State Government forms to obtain the relevant environmental permits. It is also actively pursuing landowner agreements to secure access permits, which will enable drilling at the promising project.
Gold Mountain says it has defined a geochemical response along a 16km strike length at Down Under, indicating possible mineralisation across a wide span of the project’s ground.
The company also has several other hot-to-trot projects, revealing just yesterday that it is about to sink its teeth into compelling gold targets at its Papua New Guinea (PNG) Mamba Creek prospect that sits within its Wabag project in the rugged highlands area of the renowned copper-gold-endowed country.
With many commodity projects across a range of global regions, it appears Gold Mountain is orchestrating a climb to the top of the mineral summit.
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