Gold Mountain (ASX:GMN) reports substantial multi-element anomalies for niobium, magnet rare earths, and phosphate from 327 additional stream sediment samples at its Araxá Project in Brazil.
The assays bring the total to 515 samples across the project area. Results show strongly clustered multielement anomalies coincident with magnetic and structural features, confirming target areas for mineralisation.
Executive Director David Evans says the Araxá Project is ‘extraordinarily prospective’ for three strategic commodities — niobium, rare earth elements, and phosphorus — that are all experiencing increasing demand and currently produced from nearby carbonatite complexes.
“The combined exploration results are very encouraging, with geochemical, magnetic, and structural data supporting the presence of several carbonatite complexes and associated TREO [total rare earth oxide], phosphorus, and niobium anomalies across all four of GMN’s prospect areas.”
“These outcomes exceed our highest expectations at this stage of exploration.
“Carbonatites in the Araxa region are very highly prospective, with every major carbonatite known to contain a mine or resources of a range of important commodities.”
The project comprises four target areas. The Guimarania prospect shows strong coincident niobium, magnet rare earth elements (REEs), and phosphorus anomalies.
Ibiá features coincident niobium and phosphorus anomalies associated with a large composite magnetic anomaly, with magnet REE anomalies peripheral. Meanwhile, the Sacramento prospect contains coincident clusters of niobium and phosphorus anomalies in two areas, with one hosting coincident magnet REE anomalies.
Finally, Tapira shows anomalous niobium and phosphorus in four areas, supported by associated magnesium, nickel, iron, and magnet REE anomalies.
Gold Mountain intends to conduct drone magnetics and grid soil sampling over the highest-ranked niobium, magnet REE, and phosphate anomalies. Stream sediment sampling will then be completed over one property group once access agreements are reached.
The company plans to seek environmental approval for drilling from municipal authorities as it advances the project. Follow-up programs aimed at refining drill targets will then commence as soon as practical.
Located in the Alto Paranaiba Igneous Province approximately 300km west of Belo Horizonte, the Araxá tenements sit over carbonatite complexes in a region hosting major operating mines.
Gold Mountain is an explorer focused on rare earth elements, with projects in Brazil.
Write to Paula Fabe at Mining.com.au
Images: Gold Mountain
