Gold Mountain prioritises Brazil lithium targets

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
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.