Gold Mountain (ASX:GMN) reports it has confirmed lithium-caesium-tantalum (LCT) bearing pegmatite prospectivity following a soil sampling program at its Custodia Project in Brazil.
The results, generated by 141 soil samples, have confirmed the prospectivity of the project area to host LCT bearing pegmatites and demonstrate that previously reported rock chip results lie within defined lithium (Li2O) anomalies within a low order portion.
Gold Mountain notes that the results are encouraging and also display the continuity of lithium anomalies over more than 900m in the Central Grid at the project, and over about 200m in the southeast grid.
The preliminary grids will be expanded to define the anomalies over a broader area and will move forward with sediment sampling in tenement 840195/2018, as well as within adjacent tenements.
This work is expected to define the scale of the pegmatite field and define further areas for soil sampling and follow-up drilling.
Gold Mountain Chief Executive Officer (CEO) and Executive Director Tim Cameron says: “These soil sample results we have received from the Custodia Project area have proved that this methodology can define lithium anomalies in this highly weathered terrain.
“It is good to see that the recently reported rock chip samples collected from Custodia lie within this distinct soil anomaly”
It is good to see that the recently reported rock chip samples collected from Custodia lie within this distinct soil anomaly. Further work on Custodia is planned to follow up this promising start to our exploration and it is planned to resume exploration at Custodia later this month.”
The company also notes that the lithium anomalies are indicated to be open in all directions.
Gold Mountain is an Australian publicly listed company actively exploring for world-class porphyry copper-gold-molybdenum deposits in the ‘highly prospective’ Papuan Mobile Belt (PMB) in Papua New Guinea and other lithium, copper and gold deposits in Brazil.
The company’s diversified project portfolio includes ‘highly prospective’ lithium licenses located within the eastern Brazilian lithium belt, as well as the Wabag Project, which is host to 3 targets (Mt Wipi, Monoyal, and Sak Creek) within the Papuan Mobile belt.
The company’s assets in Brazil are situated within parts of the Borborema Province and São Francisco Craton, with the company currently owning a 20% interest in all associated tenements. Gold Mountain can earn an additional 55% interest through incurring the project expenditure of $2.75 million over a 2-year period.
Images: Gold Mountain Ltd
