Gold Mountain (ASX: GMN) has continued its run of critical minerals exploration success in Brazil with the further uncovering of lithium potential at its Agua Boa and Bananal Valley tenements in the South American "lithium corridor".
After reporting both lithium and rare earth exploration successes in recent months, Gold Mountain has received further highly anomalous 46 stream sediment samples from Boa and Bananal Valley tenements in the Salinas II Project.
The new batch brings to 101 samples obtained to date from the highly prospective areas, which lie along regional structural strike from Latin Resources’ Collina project resource.
Testing of the highly anomalous lithium assays returned peak values of 672 parts per million (ppm) lithium in the Bananal Valley with 9 contiguous results with over 300 ppm lithium.
At the Bananal Valley tenement, the lithium anomalies extend over 5 kilometres and 2 kilometres, while at the Agua Boa Tenement, anomalies extend over 6 kilometres and 3 kilometres.
The results to date are providing Gold Mountain with growing confidence there is very high potential for significantly mineralised LCT pegmatites.
The combination of very highly anomalous lithium results within the known pegmatite bearing tenements is considered very encouraging for another discovery within the “Lithium Corridor” identified by Latin Resources and inferred parallel lithium corridors.
Extensive areas in both Bananal Valley and in Agua Boa also have results over 150 ppm in stream sediments, which are considered still very high as in this region of Brazil, the lithium is leached at surface and stream sediment samples with values over 30ppm are considered anomalous and followed up.
Lower order anomalies in the northeast are still considered highly prospective, with lower order results due to more intensive weathering and leaching of surface rocks.
Initial follow up of the stream sampling results is planned for mid-September 2024, with a future program of mapping and soil sampling to help develop drill targets.
Drilling permits process have started and landowner access will be obtained for detailed work to develop drill targets.
Mapping of exposures in drainages as well as grid soil sampling will be undertaken to define the sources of the high order stream sediment anomalies.