Gold Mountain Ltd. has reported significant rare earth element (REE) mineralisation from auger drilling at the Capivara Prospect, part of its broader Down Under Project in Brazil.
Assay results from 127 samples across seven auger drill holes confirmed thick, shallow intersections of total rare earth oxides (TREO) with high proportions of valuable magnet rare earth oxides (MREO) and neodymium-praseodymium oxides (NdPrO).
Key highlights include hole CPAD260141, which intersected 12 metres at 1,283 parts per million (ppm) TREO from 10 metres, including a higher-grade zone of eight metres at 1,513 ppm TREO with a 42 per cent MREO ratio.
Additional strong results were returned from hole CPAD260158, which yielded seven metres at 1,204 ppm TREO from eight metres, including four metres at 1,537 ppm TREO. Individual MREO ratios across the reported intersections reached up to 48 per cent of total rare earth content.
Geological analysis indicates a lateritic REE system hosted within a deeply weathered saprolite profile.
High Chemical Index of Alteration (CIA) values, ranging from 84 to 99 per cent, confirm that drilling has only tested the uppermost portion of the saprolite zone.
Because many auger holes hit early refusal on hard duricrust, several holes terminated within or near active mineralisation, leaving the deeper, highly prospective saprolite horizon entirely untested.
Gold Mountain Executive Director David Evans said the shallow drill refusals provide a clear structural basis for deeper follow-up drilling to determine the full vertical extent and continuity of the deposit.
“Several auger holes terminated within or near mineralised intervals, indicating that the vertical extent of the weathered and mineralised profile has not been fully tested,” Evans said.
“This provides a clear basis for follow-up drilling to assess the vertical extent and continuity of the mineralisation.”
The company is currently progressing environmental permitting and drill applications for an upcoming diamond drilling program to test deeper saprolite target zones.
With additional auger assay results pending and preliminary metallurgical test work underway, Gold Mountain continues to evaluate the broader scale, continuity, and commercial extraction characteristics of the Capivara discovery.