Gold Mountain (ASX: GMN) discovered a new style of target in the Iguatu North Project area in Brazil after receiving 52 stream sediment samples.
Work Undertaken
- Assays identified widespread coincident Copper-Nickel anomalies supported by cobalt, palladium and chromium anomalies.
- High order Ni-Cu anomalies over three km long surrounded by lower order anomalies.
- Geochemical anomalies clearly indicate the priority area for initial follow up work to define mineralised drill targets.
- Geochemical anomalies clearly indicate the priority area for initial follow up work to define mineralised drill targets.
“We are delighted to identify potential for Copper-Nickel-PGE mineralisation within our Iguatu tenements. The proximity of these anomalies to the Pedra Branca PGE deposit, just 25 km northeast, is highly encouraging,” Managing Director, David Evans, said.
“With samples returning copper and nickel values up to two and four times higher than the program's average, respectively, these results also present an opportunity for Gold Mountain to add exciting Copper-Nickel-PGE targets to its existing lithium and rare earth prospects.
Future Workplan
- Iguatu North Ni-Cu anomalous areas will be tested by infill stream sediment and soil sampling followed by IP or other ground or airborne geophysics to define specific drill targets.
- Mapping of the full extent of the mafic intrusives interpreted to be present will be undertaken.
- Drilling will be undertaken on defined targets.
