Gold Mountain Limited (ASX: GMN) Defines Drill Targets for Lithium
Gold Mountain Limited (ASX: GMN) has announced the successful identification of 10 high-priority lithium anomalies through recent soil sampling at its Salinas II Project in Brazil’s Bananal Valley. The company received 224 soil samples, leading to the creation of a 14-hole drill program aimed at assessing the potential of the lithium-rich district. This promising area is near the Latin Resources Collina Lithium Deposit, which boasts substantial lithium resources.
Sampling and Anomaly Identification
The exploration team conducted soil sampling along 100 and 200 metre spaced lines, taking samples at 50 metre intervals. Assays revealed lithium anomalies along a 1.5 km strike extent, with observations of associated elements such as beryllium, rubidium, tin, and thallium. While no lithium anomalies surfaced in laterite areas, indications of pegmatite extensions were discovered below the surface.
Future Plans
Looking ahead, Gold Mountain plans to obtain the necessary environmental permits for drilling and extend soil surveys in higher-priority sections of the tenement. The exploration team will also conduct detailed mapping to refine the identified pegmatite trends.
Comments from Leadership
David Evans, Executive Director of Gold Mountain, expressed enthusiasm about the findings: “The successful definition of drill targets positions us well for our upcoming drilling program which aims to unlock the lithium potential of the Bananal Valley tenement.”
The company emphasizes its commitment to exploring its extensive project portfolio, which includes further prospects for rare earth elements, lithium, and other metals across Brazil and Papua New Guinea.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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