Gold Mountain (ASX:GMN) has uncovered thorium anomalies with high anomalous values up to 250m wide within the Ronaldinho Rare Earths Project in Brazil.
The $11.17 million market capitalisation company conducted a preliminary traversing with one of its MS350 spectrometers on selected roads and tracks over regional radiometric anomalies in the project area. A total of 3.87km of traverses were undertaken.
Gold Mountain says well defined anomalies are present and warrant detailed follow-up work to determine if the anomalies are associated with “significant” ionic clay hosted (IAC) type rare earth mineralisation.
The company plans to conduct stream sediment sampling, channel sampling, and a second stage auger sampling program to at least the saprolite zone.
Initial follow-up work will focus on the radiometric anomalies and will begin in July, starting with stream sediment sampling.
Samples have been submitted to the laboratory and will take about five to six weeks to be processed and analysed.
Gold Mountain notes auger sampling will begin once rare earth anomalous sample catchments are defined so that the shallow drill sampling is effective.
The company anticipates stream sediment sampling results on the Down Under Project to be received in the coming week. A total of 406 samples were taken and submitted.
Gold Mountain is a mineral explorer focused on its projects in Brazil and Papua New Guinea. The company’s projects are considered prospective for rare earths, niobium, lithium, nickel, copper, and gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Gold Mountain
