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Gold Mountain Limited (ASX: GMN) (“Gold Mountain” or “the Company” or “GMN”) is pleased to announce it has received 52 stream sediment samples from the Iguatu North Project in Central Brazil. The anomalies represent a new style of target for GMN in the Iguatu North Project area.

Highlights

Work Undertaken

• Assays received from 52 regional stream sediment samples at Iguatu North Project with widespread coincident Copper-Nickel anomalies supported by Cobalt, Palladium and Chromium anomalies.
• High order Ni-Cu anomalies over 3 km long surrounded by lower order anomalies.
• Geochemical anomalies clearly indicate the priority area for initial follow up work to define mineralised drill targets.

Figure 1. Field technician taking a sample in the Iguatu North region

David Evans, Managing Director, commented:

We are delighted to identify potential for Copper-Nickel-PGE mineralisation within our Iguatu tenements. The proximity of these anomalies to the Pedra Branca PGE deposit, just 25 km northeast, is highly encouraging.

With samples returning copper and nickel values up to two and four times higher than the program’s average, respectively, these results also present an opportunity for Gold Mountain to add exciting Copper-Nickel-PGE targets to its existing lithium and rare earth prospects.

Future Workplan

• Iguatu North Ni-Cu anomalous areas will be tested by infill stream sediment and soil sampling followed by IP or other ground or airborne geophysics to define specific drill targets.
• Mapping of the full extent of the mafic intrusives interpreted to be present will be undertaken.
• Drilling will be undertaken on defined targets.

Details

Stream sediment sampling was carried out in a broad network of samples over the Iguatu North tenements, which were initially acquired for their Copper and Lithium potential.

Interpretation of results consisted of determining populations of results considered to be anomalous and then separating anomalous results for copper and carrying out element correlations on the copper anomalous samples.

Table 1 shows the correlation coefficients for a series of elements considered important for mafic intrusive hosted nickel-copper-PGE mineralisation and for IOCG style mineralisation.

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This article includes content from Gold Mountain, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

Augustus Minerals (ASX: AUG; Augustus or the Company) is pleased to announce the results of rock chips collected during a field trip to the Clifton East prospect within the Companies Music Well project.

Assays have been received from rock chips collected in December 2024 at the Clifton East Prospect.

• 21 rock chips were collected at Clifton East, assays include:
  • 50.3g/t Au, 45g/t Ag (ARK000064),
  • 9.73g/t Au, 1g/t Ag (ARK000066),
  • 8.95g/t Au, 0.12g/t Ag (ARK000076),
  • 4.57g/t Au, 3g/t Ag (ARK000074),
  • 1.67g/t Au, 0.1g/t Ag (ARK000123).
• The new rock chips support the previous rock chips which included¹:
  • 20.1g/t Au (110657),
  • 7.86g/t Au (110658),
  • 7.86g/t Au (FSMWR085),
  • 1.71g/t Au (FSMWR139).
• The rock chips have defined a 500m long east-northeast trend of gold anomalism that is coincident with a linear zone of demagnetization within the host granitoids.
• Several rock chips were collected during the field trip from other areas with a high of 3.59g/t Au (ARK000108) from the Bulls Head target.
• Next Steps at Clifton East:
  • Geological mapping and sampling have re-commenced, and AC/RC drilling is being planned.
  • An artificial intelligence/machine learning (AI) enhanced targeting study is in progress. Results of this study are expected in Q1 2025.

Andrew Ford, GM Exploration

“The new rock chips from the Clifton East prospect, combined with the recent assays from St Patrick’s Well and other regional targets continue to illustrate the potential of this under- explored portion of the Leonora-Laverton District. The Augustus geology team returned to site on the 20th of January to continue the mapping and sampling program.”

Figure 1: Regional Tenement Packages and Gold Projects

Background

Augustus Minerals Limited (ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.

Comprising ten granted exploration licences covering an area of 1,345km², making the Project one of the largest exploration packages in the region (Figures 1 and 2).

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This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

Anax Metals Limited (ANX:AU) has announced New tenement application over Whim Creek greenstone belt

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