Down Under Project Update: GMN Observes Rocks Prospective for REE

Gold Mountain Limited (ASX: GMN) (“Gold Mountain” or “the Company” or “GMN”) is pleased to announce it has visually identified numerous occurrences of both leucogranites and of charnockite in five of its tenements and silicified and sheared rocks that are often associated with good REE values.

Highlights

• Charnockite and leucogranites identified as well as sheared and silicified rocks
• Stream sediment sampling and mapping progressing well
• Favourable weathering profiles present
• Satellite imagery interpretation is in progress at present

GMN is delighted to announce that it has identified widespread charnockite and leucogranites in the five tenements in which stream sediment sampling is progressing. Charnockite is widespread and leocogranites have been identified at three locations in three separate tenements.

Sheared and silicified rocks have also been identified. The sheared rock found is a type that is often associated with high REE values according to one of our personnel with over 4 years experience working on REE in the region. Channel sampling of those exposures has been undertaken and samples are being prepared for dispatch.

Figure 1. Boulders of charnockite and a broken face showing bluish grey charnockite under a weathered outer skin.

Figure 2. Outcrop and broken face of undeformed leucogranite with cream coloured weathered outer skin.

The silicified rocks will also be sampled as they are also can be associated with high grade REE values.

Figure 3. Silicified charnockite and a quartz vein or layer in the silicified charnockite.

Sampling commenced in tenements that are within 1.4 km of high-grade mineralisation drilled and reported by Brazilian Rare Earths in their Prospectus (lodged ASX 13 November 2023). There is no guarantee that GMN will have similar levels of results to results achieved by BRE, however they do assist in forming a basis for planned and targeted exploration.

Click here for the full ASX Release

This article includes content from Gold Mountain, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.