Gold Mountain (ASX:GMN) has identified ‘high priority’ catchments for follow-up soil sampling to help define drill targets at its Custodia Project in the Borborema Province of Brazil.
The $11.47 million market capitalisation company says a series of lithium anomalies oriented predominantly along structural strike and fringing onto previously soil sampled areas have been identified.
The Custodia Project consists of 6 tenements in an underexplored part of the Borborema Province not previously known for lithium bearing pegmatites.
The Borborema Province also contains the productive Seridó and Solonópole lithium-caesium-tantalum (LCT) pegmatite fields.
Gold Mountain is a mineral explorer with projects based in Brazil and Papua New Guinea considered ‘highly prospective’ for lithium, rare earths, nickel, copper, and gold.
As of 30 September 2023, Gold Mountain had $1.812 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Gold Mountain
