Gold Mountain (ASX:GMN) has received stream sediment samples at the Iguatu North Project in Central Brazil, with widespread coincident copper-nickel anomalies supported by cobalt, palladium, and chromium anomalies.
These anomalies represent a new style of target for the company in the project’s area.
Gold Mountain, which has a market capitalisation of $11.44 million, says there is a high-order of nickel-copper anomalies over 3km-long, surrounded by lower order anomalies.
The company intends to test the nickel-copper anomalous areas by infill stream sediment and soil sampling followed by induced polarisation, ground or airborne geophysics. This will allow the company to define specific drill targets in the area.
Once targets are defined, the company will conduct drilling.
Managing Director David Evans says the proximity of the anomalies to the Pedra Branca platinum group element deposit is considered encouraging.
“With samples returning copper and nickel values up to two and four times higher than the program’s average, respectively, these results also present an opportunity for Gold Mountain to add exciting copper-nickel-platinum group element targets to its existing lithium and rare earth prospects,” Evans says.
Gold Mountain is a diversified mineral explorer focused on its project portfolio in Brazil and Papua New Guinea. The company’s projects are prospective for lithium, rare earths, copper, gold, and molybdenum.
Write to Aaliyah Rogan at Mining.com.au
Images: Gold Mountain
