Gold Mountain Unveils Massive 30-50Mt Rare Earth Target at Irajuba
Gold Mountain Limited has outlined a significant Exploration Target at its Irajuba Prospect in Brazil, confirming high-grade rare earth mineralisation and setting the stage for imminent diamond drilling.
- 35 new drill holes confirm high-grade TREO and Magnet Rare Earth Oxides
- Exploration Target of 30-50 million tonnes grading 1,100-1,600 ppm TREO defined
- Broader contiguous target area estimated at 100-200 million tonnes
- Diamond drilling to commence shortly at Irajuba 1 prospect
- Focus on ionic clay and potential high-grade hard rock REE mineralisation
Exploration Breakthrough at Irajuba
Gold Mountain Limited (ASX – GMN) has announced compelling results from an additional 35 drill holes at its Irajuba Prospect, part of the Down Under Rare Earth Elements Project in Brazil. The assays reveal consistent high-grade Total Rare Earth Oxide (TREO) and Magnet Rare Earth Oxides (MREO), with some intersections exceeding 4,900 ppm TREO. These findings have enabled the company to define an initial Exploration Target of 30 to 50 million tonnes grading between 1,100 and 1,600 ppm TREO within the area slated for diamond drilling.
A District-Scale Rare Earth Opportunity
Beyond the immediate diamond drilling zone, Gold Mountain has identified a broader contiguous Exploration Target estimated between 100 and 200 million tonnes. This expansive mineralised system underscores the significant scale and potential of the Irajuba Prospect within a world-class rare earth province. The mineralisation is predominantly hosted in ionic clay deposits, which are prized for their metallurgical amenability and lower capital intensity compared to hard rock sources. However, the company is also actively exploring for high-grade hard rock REE deposits, which could add further value.
Strategic Next Steps and Project Development
Gold Mountain plans to commence diamond drilling imminently at the Irajuba 1 prospect, focusing on the defined Exploration Target area. This phase aims to deepen understanding of mineralisation thickness and grade continuity, with auger drilling continuing to expand the footprint of prospective zones. Complementary stream sediment sampling will complete coverage of the northern Down Under Project area. Metallurgical samples from the upcoming diamond drilling will be critical to assessing the extractability of the rare earth elements, particularly the valuable magnet rare earth oxides.
Geological Context and Exploration Confidence
The Irajuba Prospect lies within deeply weathered lateritic profiles over Archean basement rocks, hosting ionic adsorbed clay type REE mineralisation. The company’s exploration approach integrates geochemical data, structural mapping, and radiometric surveys to prioritise drill targets. The vertical shell auger drilling to depths of up to 25 metres has intercepted thick mineralised zones that remain open at depth, suggesting further upside potential. While the Exploration Target remains conceptual under JORC Code (2012) guidelines, the quality and scale of the results provide a strong foundation for advancing towards a Mineral Resource estimate.
Positioning in a Critical Market
Rare earth elements are essential for clean energy technologies and advanced electronics, making the development of new, high-grade deposits strategically important. Gold Mountain’s progress at Irajuba positions it well within the global supply chain for these critical minerals. The company’s diversified portfolio, including lithium and copper projects in Brazil and Papua New Guinea, further enhances its growth prospects. Investors will be watching closely as diamond drilling results and metallurgical testing unfold, potentially unlocking significant value.
Bottom Line?
Gold Mountain’s Irajuba Prospect is shaping up as a major rare earth discovery, with upcoming drilling poised to unlock its full potential.
Questions in the middle?
- Will the imminent diamond drilling confirm continuity and upgrade the Exploration Target to a Mineral Resource?
- How will metallurgical testing impact the economic viability of the ionic clay versus hard rock mineralisation?
- What are the timelines and regulatory hurdles for advancing the Down Under Project towards development?
