Gold Mountain Reopens Historical Brazilian Tungsten Opportunity

Gold Mountain Secures 12-Month Tungsten Option

Gold Mountain Limited (ASX:GMN) has put a historic Brazilian tungsten mine back into the exploration spotlight, securing an exclusive 12-month right to acquire the 857.53-hectare Malhada do Angico mining application in the Seridó Tungsten Province. The project sits beside GMN’s existing Logradouro tenements in northeast Brazil, about 10 kilometres from the regional centre of Parelhas.

The deal is an option, not an acquisition completed. GMN has paid an initial R$1.0 million exclusivity fee to Emprogeo Mining Business EPP Ltda, with a further R$1.0 million due after a favourable decision from Brazil’s National Mining Agency on the Positive Final Exploration Report, and another R$1.0 million following approval of the mining-rights assignment. Each payment is conditional on the relevant regulatory and due-diligence steps.

Grab Samples Point to Tungsten Potential

The early exploration signal is attention-grabbing. Three rock-chip grab samples collected on GMN’s adjacent tenement, roughly 300 to 600 metres along strike from the historical mine, returned tungsten results above the laboratory’s 10,000 parts-per-million limit, equivalent to more than 1.26% tungsten trioxide. A fourth sample returned 1,020 ppm tungsten, while a fifth sample from quartz with azurite carried 103 ppm tungsten and 2,660 ppm copper.

Those numbers should not be mistaken for mine grades. GMN describes the samples as indicative of mineralisation rather than representative of average grades, and the sampling involved exposed rock from historical workings. The company also states that the reported rock-chip samples were not accompanied by standards, duplicates or blanks and will be used only to indicate potentially interesting tungsten and pathfinder-element content.

Historical Workings Set the Drilling Target

Malhada do Angico was mined by Mineração Fluminense during World War II, when exposed scheelite-bearing host rocks were extracted and processed on site. GMN has mapped historical pits and skarn outcrops across the mine area, identifying about 2,000 metres of skarn along the main workings and a further roughly 2,000 metres of skarn with minor workings in the eastern portion of the tenement.

Auger drilling of the historical tailings is already underway to assess grade and thickness and provide material for metallurgical testing. A separate diamond-drilling program has been designed to test up to about 2,000 metres of strike and depths of approximately 120 metres below surface, but drilling of the in-situ target cannot begin until environmental and other permits are secured.

Regulatory Decisions Hold the Next Catalyst

The proposed acquisition remains subject to technical, legal and regulatory due diligence, as well as a decision by the Brazilian National Mining Agency on the Positive Final Exploration Report and approval of the rights assignment. GMN is also waiting on assays from additional rock-chip and stream-sediment sampling, soil-sampling results across its existing tenements and analysis of the tailings material.

The attraction is proximity and geological continuity: Malhada do Angico lies in the same broad structural and stratigraphic setting as the producing Brejuí tungsten mine, about 47 kilometres north of GMN’s Logradouro tenements. But the investment case remains at the exploration stage. There is no resource estimate, no reported drilling result and no demonstrated economic recovery from the tailings yet. The next meaningful test will be whether the historic workings translate into continuous mineralisation beneath the surface, rather than isolated high-grade fragments at it.