Gold Mountain (ASX:GMN) has extended the highly anomalous rare earths area on the Poçōes prospect, part of the Down Under Project in Brazil, after receiving stream sediment sample results.
The latest results extend and consolidate the areas, with peak values recording up to 587 parts per million (ppm) total rare earth oxide (TREO).
Permits have been lodged with relevant state and federal authorities for environmental permits and access permits required from landowners affected by drilling.
Extensive landowner work and contact with local government offices have been maintained to support the permits being issued.
Gold Mountain, which has a market capitalisation of $13.22 million, says there is potential for “ultra high-grade” hard rock monazite hosted rare earths-niobium-uranium-scandium mineralisation from the latest results.
All TREO anomalies uncovered compare favourably with orientation sampling carried out on known ionic adsorption clay-type rare earth mineralisation.
Gold Mountain adds that further sites will be designed and applied for in regards to specific drill sites.
Radiometric traversing will also be undertaken within the most highly anomalous catchments and along all drill traverse lines to search for potential ultra high-grade hard rock deposits.
Further, a stream sediment sampling program is also planned.
Gold Mountain is a mineral explorer focused on its projects based in Brazil and Papua New Guinea. These assets are considered highly prospective for rare earths, niobium, lithium, nickel, copper, and gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Gold Mountain
