Gold Mountain (ASX:GMN) is planning future follow-up work to define lithium drill targets on selected anomalies within its Logradouro Project in the Seridó Belt, Brazil.
The $12.47 million market capitalisation company says this work will include soil sampling on 4 target areas within the project at which it has identified several pegmatites.
Soil sampling will help to determine the most appropriate lithium-bearing pegmatites to be drilled.
This news comes after Gold Mountain received stream sediment sampling results that showcase a series of lithium anomalies supported by pathfinder elements for lithium-caesium-tantalum (LCT) pegmatites.
Gold Mountain notes that the tenements hold over 250 mapped pegmatites, and anomalies were found over some of the known 250 pegmatites and their structural trends.
Gold Mountain is a mineral explorer with assets in Brazil and Papua New Guinea. The company is focused on discovering lithium, nickel, copper, and gold.
As of 30 September 2023, the company had $1.8 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Gold Mountain
