Gold Mountain Identifies REE and Gold Anomalies Across 196 New Stream Sediment Samples at Down Under Project

Sonal Goyal

11 November 2026 12:32 PM AEDT

Gold Mountain Identifies REE and Gold Anomalies Across 196 New Stream Sediment Samples at Down Under Project

Image Source: Krish Capital Pty Ltd

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Gold Mountain Limited (ASX:GMN) has received assay results from 196 new regional stream sediment samples collected across the southern tenements of its Down Under Project in eastern Brazil, confirming strongly anomalous total rare earth oxide (TREO) zones and identifying large-scale gold anomalies across the Poções and Planalto prospects.

Key Points

196 new regional stream sediment samples collected across southern Down Under Project tenements, with a total of 247 samples taken including 51 previously reported.
Results confirmed strongly anomalous TREO zones and completed infill coverage over previously interpreted NNE-trending mineralised corridors.
Large-scale gold anomalies identified at the Planalto Prospect, supported by arsenic, molybdenum, antimony and bismuth multi-element signatures.
Auger drilling programs are having permits sought to allow drilling of major anomalies identified from stream sediment sample results.

Stream Sediment Sampling Results at Poções and Planalto Prospects

Regional stream sediment sampling was completed across twenty-five tenements in the southern Down Under Project area. The company disclosed that results were compiled and interpreted into populations above background, with anomalous catchments plotted across the Poções and Planalto prospects. According to the filing, a strong relationship between the strength of TREO anomalies and the degree of dissection is present, reflecting the extreme leaching of TREO on the oldest preserved plateau surfaces, with stronger anomalies present where deeper dissection has exposed TREO-bearing saprolite zones. All high-order anomalies are considered REE targets, together with lower-order anomalies located on preserved sections of the elevated plateau.

Gold Multi-Element Anomalies Identified at Planalto Prospect

The filing states that the Poções and Planalto prospect areas are locally recognised for their gold potential, although no gold occurrences are currently recorded in ANM databases. Gold Mountain identified an artisanal mining working in the southeastern portion of tenement 872230/2023, close to moderate gold-arsenic-bismuth anomalies. The filing further states that significantly stronger and more extensive gold multi-element anomalies have been identified across the Planalto prospect area, with gold anomalies supported by arsenic, antimony, bismuth and molybdenum signatures. The company disclosed that multiple large-scale REE and gold multi-element targets have been identified and prioritised for systematic follow-up.

Planned Future Work Program at Down Under Project

According to the filing, a targeted auger drilling program is planned over areas of highest TREO values and additional priority zones to refine diamond drill targets, with access agreements and permitting applications currently underway. Radiometric traversing is planned across the most strongly anomalous catchments and along proposed drill traverse lines to identify potential ultra-high-grade type hard rock REE mineralisation. The company also disclosed that auger drill and soil samples will be undertaken to further define gold targets, which are interpreted to be structurally controlled, preceding detailed geophysical surveys and infill soil sampling aimed at delineating priority drill targets.

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