Join our daily newsletter At The Bell to receive exclusive market insights
Gold Mountain (ASX:GMN) has announced its geotech team’s official record of REE drill targets on-site its Brazilian Down Under project.
The company first began seriously sniffing around the area back in March. Those targets inked on Monday were found by way of stream sediment samples boasting anomalous reads for target minerals.
Augur drills will be used first to test the targets before more sophisticated rigs could be brought in, good results in order. The first batch of drilling will cover 3,200m equivalent. Sediment data has been looked at in conjunction with electromag results.
Given the likely presence of radioactive materials monazite and thorium, the company is hopeful it can find niobium, scandium and or uranium. So far that remains to be seen.
Management did not provide commentary on Monday.
GMN last traded at 0.3cps.
-1200x645-380x200.jpg)
-1200x645-380x200.jpg)
