Rare Earth Intersections Hit 47% Magnet Oxides in Gold Mountain Drilling
Gold Mountain Limited reports exceptional rare earth element intersections from 19 drill holes at its Down Under Project in Brazil, highlighting significant Magnet Rare Earth Oxide concentrations and advancing resource drilling plans.
- Up to 47% Magnet Rare Earth Oxides (MREO) in drill intersections
- Thick mineralised profiles confirmed at IR-2 prospect
- Two new areas, IR-2 and IR-5, ready for resource drilling
- Ongoing diamond drilling at IR-1 with permits sought for expansion
- Metallurgical testing and recovery studies planned
Strong Rare Earth Results Bolster Brazil Project
Gold Mountain Limited (ASX – GMN) has announced compelling assay results from its Down Under Rare Earth Elements (REE) Project in Brazil, revealing high-grade intersections from 19 drill holes. The standout feature is the exceptionally high proportion of Magnet Rare Earth Oxides (MREO) within the total rare earth oxides (TREO), with some intervals reaching nearly half the total REE content. This bodes well for the project’s economic potential given the premium value of magnet rare earths in global markets.
The highlight drill hole, IRAD299, delivered 15 metres at 1,849 parts per million (ppm) TREO with 41.1% MREO/TREO, including an 8-metre section grading 2,215 ppm TREO and 47.1% MREO/TREO. These results confirm the presence of thick mineralised profiles at the IR-2 prospect, which, alongside the previously drilled IR-1 area, forms the core focus for advancing resource definition.
Expanding Resource Potential with New Targets
Beyond IR-1 and IR-2, the company has identified a second new area, IR-5, where shallow intersections demonstrate thick weathered profiles rich in rare earths. This discovery extends the known mineralised footprint and sets the stage for upcoming resource drilling campaigns. Gold Mountain is actively pursuing permits to enable resource drilling at both IR-2 and IR-5, signaling a clear pathway to upgrading exploration targets into defined resources.
Drilling techniques employed include shallow auger drilling averaging 7.6 metres in depth, designed to map the weathered regolith profile where REE accumulate, particularly in the saprolite zone. The company’s approach leverages geochemical and radiometric anomalies to pinpoint high-grade zones, with ongoing diamond drilling at IR-1 aimed at further resource delineation.
Strategic Outlook and Next Steps
Executive Director David Evans expressed optimism about the project’s trajectory, emphasizing the significance of the thick, open-at-depth mineralisation and the high MREO content. The company is preparing for metallurgical testing to assess recovery methods, including the potential for in situ leaching, which could offer cost-effective extraction options.
Environmental considerations remain integral, with mining activities subject to licensing and impact assessments in Brazil’s protected areas. Gold Mountain’s extensive portfolio across Brazil and Papua New Guinea positions it well in the critical minerals sector, with rare earths increasingly vital for clean energy and technology applications.
As the company advances its drilling programs and analytical work, market watchers will be keen to see how these high-grade intersections translate into resource upgrades and commercial viability.
Bottom Line?
Gold Mountain’s latest drilling results deepen the promise of its Brazilian rare earths project, setting the stage for resource upgrades and metallurgical breakthroughs.
Questions in the middle?
- How will metallurgical testing influence the feasibility of in situ leaching extraction?
- What timelines are expected for environmental approvals and resource drilling permits?
- Can the high MREO grades be consistently replicated across the broader project area?
