Gold Mountain Limited has returned significant rare earth assays from the Capivara Prospect within the Down Under Project in Brazil, highlighted by auger hole CPAD260141 intersecting 12 metres at 1,283 ppm total rare earth oxides from 10 metres.

The interval includes an 8-metre section grading 1,513 ppm TREO with 42% magnet rare earth oxides from 14 metres, alongside elevated neodymium-praseodymium oxides reaching 385.16 ppm. Additional shallow intersections include hole CPAD260158, which returned 7 metres at 1,204 ppm TREO from 8 metres, and CPAD260156, which yielded 5 metres at 874 ppm TREO from 10 metres.

Assay results from 127 samples across seven auger holes confirm shallow, thick mineralisation within the weathered saprolite profile. Several auger holes terminated within mineralised intervals due to shallow refusal caused by duricrust development, leaving deeper portions of the weathering profile untested.

“The latest auger drilling results from the Capivara Prospect continue to define rare earth mineralisation within the weathered saprolite profile, including significant TREO intersections with consistent proportions of Magnet Rare Earth Oxides and elevated Neodymium-Praseodymium Oxide content.”

“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. This provides a clear basis for follow-up drilling to assess the vertical extent and continuity of the mineralisation.”

— David Evans, Executive Director

Gold Mountain plans to conduct diamond drilling at the Capivara Prospect within the Down Under Project to test the deeper extent of saprolite-hosted mineralisation and assess vertical continuity, with environmental permitting and approvals currently underway.

Additional metallurgical samples from the Capivara Prospect within the Down Under Project are undergoing testing by the Australian Nuclear Science and Technology Organisation, with further results expected. Gold Mountain previously reported metallurgical test work conducted by ANSTO on samples from the Capivara Prospect within the Down Under Project, and diamond drilling at the Irajuba Prospect within the same project area previously returned 11 metres at 2,892 ppm TREO.

Read the full announcement: Capivara Down Under strong rare earth results