Gold Mountain has recorded promising lithium results from a batch of stream sediment samples at its Salinas II project in Brazil's emerging Lithium Valley. All but one of the 55 samples returned significant lithium anomalism, with the concentrations being found at the company's Bananal Valley tenements along strike from Latin Resources' 70 million-tonne Colina deposit.
Gold Mountain has defined extensive multi-element anomalism pointing to iron oxide copper-gold (IOCG) and lithium potential in two areas covered by an initial 231 stream sediment samples from its Iguatu Project in Brazil. The company says it has identified clusters of broad halo-style iron and sodium anomalies and copper-gold-mercury anomalies generally associated with the more strongly-mineralised parts of Australia's renowned Olympic Dam IOCG deposit.
Gold Mountain has run the rule over its Wabag project in Papua New Guinea, with a data overhaul uncovering the core of at least three porphyry systems that may host substantial copper-gold deposits. The company says the review suggests there may be multiple centres of porphyry-style mineralisation through 7km of strike in an arc parallel to the direction of its main copper anomalies.
Gold Mountain says it has put its foot on a big chunk of ground it believes to be prospective for rare earths and niobium in the Brazilian State of Minas Gerais, with 20 new tenements covering 388sq km. The tenure comprises four groups disposed across a tract of country surrounding and within an 80km radius of the world's biggest niobium mine in the Araxá region.
Gold Mountain has kicked off a new thrust into rare earths exploration at its Down Under project after amassing a giant land position of some 970 square kilometres in the prospective Jequie province in Brazil. The company has pegged its ground largely based on areas of anomalous thorium and uranium geochemistry, which is known to be associated with rare earths mineralisation in the province.
Gold Mountain's stream sediment sampling has identified anomalous lithium in four of its five Juremal licences in Brazil and has defined targets for follow-up soil sampling to home in on the sources of the anomalies. The company says the three best stream targets are associated with west-flowing tributaries originating at or beyond the eastern boundaries of its easternmost block of licences.
