Gold Mountain

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.


  • 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.

The Conversation (0)
Aurum Resources

Aurum Hits 163 g/t Gold within 12m @ 14.56 g/t Gold at Boundiali BD Target 1

Aurum Resources Limited (ASX: AUE) (Aurum) is pleased to report high-grade gold intercepts from step-back diamond hole at BD Target 1 as part of ongoing diamond drilling at its Boundiali Gold Project in Côte d'Ivoire, West Africa.

Keep reading...Show less
Flynn Gold

Up to 67g/t Au Intersected in Drilling at Trafalgar, NE Tasmania

Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide the first results from its latest diamond drilling activities at the Company’s 100% owned Golden Ridge Project located in Northeast Tasmania (Figure 1).

Keep reading...Show less
Finger pointing up.

5 Top Weekly TSXV Stocks: Gabriel Resources Gains 50 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 7.22 points last week to close at 607.95.

Statistics Canada released consumer price index (CPI) data this past Tuesday (May 21). In the report, the agency indicates that CPI rose 2.7 percent in April on a year-on-year basis, dropping from a 2.9 percent year-on-year uptick in March.

Inflation has now declined for the fourth month in a row, improving odds for a June rate cut as CPI inches closer to the Bank of Canada’s 2 percent target. The Canadian dollar lost a quarter percent on the news to close the day at US$1.37.

Keep reading...Show less
Tempest Minerals

Yalgoo Update - Expanded Drill Program at Remorse

Tempest Minerals Ltd (TEM) is pleased to update the market on the progress at the Remorse Target. The Remorse Target is a 4km long coincident base metal and geophysical target located in the Company’s Flagship Yalgoo Project. TEM has received preliminary approval for drilling at the central area of the target. As a result of recent ground-truthing work, TEM believes a larger expanded program design of ~5000m is required. Approvals are in the final stages and work is anticipated to commence in June/July.

Keep reading...Show less
Many Peaks

Drilling in Progress at Odienne Project, Côte d’Ivoire

Many Peaks Minerals Limited (Many Peaks or the Company) (ASX: MPK) is pleased to advise drilling has commenced at its Odienné Gold Project (Odienne) located in northwest Côte d’Ivoire. The company has initiated a campaign of concurrent diamond drilling and auger sampling. This follows the recent completion of the Company’s acquisition of 100% ownership of CDI Holdings (Guernsey) Ltd from Turaco Gold Ltd and Predictive Discovery Ltd, which holds the right to acquire an 85% interest in four mineral permits totalling a 1,275km2 land package in Cote d’Ivoire, with recent gold discoveries and over US$4 million in prior exploration expenditure (refer to ASX release dated 8 May 2024)

Keep reading...Show less

Private Placement


Peloton Minerals Corporation

May 24, 2024 TheNewswire London, Ontario Peloton Minerals Corporation ("PMC" or the "Company") (CSE Symbol: PMC; OTCQB Symbol: PMCCF) intends to close a private placement of units priced at CDN$0.09 per unit for minimum total proceeds of $600,000. Each unit consists of one common share and one common share purchase warrant exercisable for three years at $0.12. The proceeds of the Private Placement will be used for lithium exploration in northern Nevada and working capital.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News