Gold Mountain hits lithium anomaly in Brazil

Junior explorer Gold Mountain (ASX:GMN) is planning a new round of exploration work to potentially define lithium drill targets at its Salitre tenements in Brazil. 

It comes after the $13.61 million market capitalisation company uncovered open-ended lithium anomalies up to 2.5km long in the Salitre area through soil sampling work.

Gold Mountain says the lithium anomalies, which come from an 855-sample soil grid with lines spaced 400m apart and samples at 50m intervals, are ‘variably’ supported by caesium, tantalum, and tin. 

Further, the exploration work suggests the presence of a lithium, tin, and tantalum zone, as well as a potential regional-scale 8km-long pegmatite corridor. 

The main part of the defined lithium anomalies spans 2.5km and remains open to the north and south with two additional anomalies, neither of which have been sufficiently sampled just yet, according to Gold Mountain. 

The company says the new Salitre lithium anomalies lie roughly 5km north-northeast of lithium anomalies found within its Salitre South area and reported earlier in October. 

As part of its follow-up exploration work in the Salitre region, Gold Mountain now plans to infill parts of the soil grid and map the float and outcrop to allow for the definition of drill targets. 

While the last soil sampling program was carried out with a grid spaced at 400m, the upcoming work will close up the grid spacing to just 100m to provide a greater level of detail of the area for mapping. 

Following this, Gold Mountain will potentially take on reverse circulation (RC) drilling in the area to get below the depth of weathering and test the grades of the fresh pegmatite for lithium. 

Gold Mountain is a listed explorer focused on porphyry copper-gold-molybdenum deposits in the Papuan Mobile Belt (PMB) of Papua New Guinea and lithium deposits in the ‘highly prospective’ Lithium Valley in Brazil

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Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.