Iguatu North Stream Sediments Reveal 3km Nickel-Copper Anomaly Zone

Exploration Breakthrough at Iguatu North

Gold Mountain Limited (ASX: GMN) has announced a significant development in its Brazilian portfolio with the identification of strong Nickel-Copper-PGE anomalies at the Iguatu North Project in Central Brazil. The discovery stems from assays of 52 stream sediment samples, which revealed a new style of mineralisation target within the company's tenements.

The anomalies are notable for their scale and geochemical signature. High-order Nickel-Copper anomalies stretch over a 3-kilometer length, surrounded by lower order anomalies, and are supported by coincident enrichments in cobalt, palladium, and chromium. This multi-element association is characteristic of mafic to ultramafic intrusive-related mineralisation, distinct from the IOCG-style targets previously sought in the region.

Strategic Location and Geological Context

Gold Mountain’s Managing Director, David Evans, highlighted the encouraging proximity of these anomalies to the Pedra Branca PGE deposit, located just 25 kilometers northeast. Pedra Branca is a well-known layered mafic intrusive hosting platinum group elements, and the similarity in geological setting bodes well for the Iguatu North Project’s potential.

The project area lies within the Borborema Province, a region marked by intense shearing and magmatic intrusions during the Proterozoic. The presence of schistose mafic dykes and layered mafic intrusives mapped within the tenements further supports the prospectivity for Nickel-Copper-PGE mineralisation. Radiometric and magnetic imaging corroborate the geochemical anomalies, providing a robust framework for follow-up exploration.

Next Steps in Exploration

Gold Mountain plans a systematic follow-up program to refine and test these targets. This includes infill stream sediment and soil sampling to better delineate the anomalous zones, coupled with induced polarization (IP) and other geophysical surveys to identify subsurface mineralisation signatures. Mapping of the mafic intrusive extents will be undertaken to understand the geological controls, followed by drilling on defined targets to assess mineral resource potential.

The company’s approach reflects a disciplined exploration strategy aimed at expanding its portfolio beyond lithium and rare earth elements into base metals and PGE, which could significantly enhance the asset value and diversify future revenue streams.

Broader Implications for Gold Mountain

This discovery adds a compelling new dimension to Gold Mountain’s Brazilian assets, which already include lithium and rare earth element projects. The identification of Nickel-Copper-PGE mineralisation opens avenues for multi-commodity exploration in a geologically favourable region. Given the global demand for battery metals and PGEs, the Iguatu North Project could become a strategic asset if further work confirms economic mineralisation.

While these initial results are promising, they represent early-stage exploration data. The company and investors will be watching closely as subsequent sampling, geophysics, and drilling programs unfold to validate the scale and grade of the mineralisation.