Gold Mountain Limited (ASX:GMN) Reports Lithium Anomalies in Brazil
Project Highlights
Gold Mountain Limited (ASX:GMN) has received 146 soil samples from the Agua Boa tenement at its Lithium Valley Project in Brazil, identifying major lithium and LCT pathfinder element anomalies. These findings align with regional structural trends, enhancing the project’s potential for lithium exploration.
Work Undertaken
The Company conducted assays from 400-meter spaced soil sampling lines with samples taken every 50 meters. Results have been received for 17% of the tenement, with 34% sampled to date. Strong lithium and associated element anomalies were detected over a 1.2 km strike in the northern soil grid.
Future Workplan
Gold Mountain plans to complete soil sampling of the remaining 66% of the tenement, establish additional soil lines based on current results, continue detailed mapping, define drilling targets, and obtain environmental permits for drilling.
Executive Comments
David Evans, Managing Director, stated, “We are encouraged by the progress of our exploration efforts at the Lithium Valley Project. The strong lithium and pathfinder anomalies identified at the Agua Boa tenement, along with the presence of pegmatite extensions, confirm the significant potential of this project. The alignment of our findings with regional structural trends strengthens our confidence in the prospectivity of this tenement.
With the next phase of sampling and mapping underway, we look forward to refining our prospects, and ultimately defining high-priority drilling targets that will unlock the lithium potential of this asset.
We appreciate the dedication of our exploration team and the support of our stakeholders as we continue to work towards our goal of defining new, Rare Earth and lithium deposits across Brazil and helping the world transition to a renewable and battery-powered future.”
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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