The Conversation (0)
Gold Mountain Limited (ASX: GMN) (“Gold Mountain” or “the Company” or “GMN”) is pleased to announce it has received 52 stream sediment samples from the Iguatu North Project in Central Brazil. The anomalies represent a new style of target for GMN in the Iguatu North Project area.
Highlights
Work Undertaken
- Assays received from 52 regional stream sediment samples at Iguatu North Project with widespread coincident Copper-Nickel anomalies supported by Cobalt, Palladium and Chromium anomalies.
- High order Ni-Cu anomalies over 3 km long surrounded by lower order anomalies.
- Geochemical anomalies clearly indicate the priority area for initial follow up work to define mineralised drill targets.
Figure 1. Field technician taking a sample in the Iguatu North region
David Evans, Managing Director, commented:
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.
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.
Details
Stream sediment sampling was carried out in a broad network of samples over the Iguatu North tenements, which were initially acquired for their Copper and Lithium potential.
Interpretation of results consisted of determining populations of results considered to be anomalous and then separating anomalous results for copper and carrying out element correlations on the copper anomalous samples.
Table 1 shows the correlation coefficients for a series of elements considered important for mafic intrusive hosted nickel-copper-PGE mineralisation and for IOCG style mineralisation.
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