Key Highlights

  • The company added 196 new regional stream sediment samples across southern tenements, bringing the area total to 247.
  • Results defined anomalous TREO zones and identified gold-multielement anomalies, most extensive at Planalto.
  • Auger drilling is planned over the highest TREO values, with access agreements and permit applications under way.
  • The gold targets are interpreted as structurally controlled and will be tested with auger or soil sampling before geophysics.

Gold Mountain Limited (ASX:GMN) has reported the results of a regional stream sediment program across the southern part of its Down Under Project in Eastern Brazil. The update dated 11 November 2026 covers 196 new samples collected from 25 tenements, bringing the total for the area to 247, including 51 samples reported previously. The results point to two commodities, rare earths and gold, and set out the steps that come before drilling.

What the stream sediment results show

The rare earth picture rests on total rare earth oxide (TREO) anomalies. The new samples defined anomalous TREO zones and infilled coverage over previously interpreted north-north-east trending mineralised corridors. The company said the highest-intensity TREO anomalies sit where deeper dissection has exposed TREO-bearing saprolite, while the oldest preserved plateau surfaces show lower anomalies because of severe leaching. The company reads those lower anomalies as a sign of leaching rather than a lack of potential.

The gold picture covers a broader area. Gold anomalies were identified across the Planalto prospect, supported by arsenic, molybdenum, antimony and bismuth. The company described these as more extensive and more intense than the moderate gold-arsenic-bismuth anomalies near the known artisanal working at Poções, where gold pathfinder anomalies are comparatively low.

Geology, scale and what remains unproven

Gold Mountain notes that no gold occurrences are recorded in the databases it has reviewed for Poções and Planalto, even though both areas are locally recognised for gold potential. The company interprets the gold targets as structurally controlled and plans to define them further with auger or soil sampling before detailed Geophysical surveys and infill soil sampling.

The preserved southern plateau is described as largely untested for rare earths, with an intact laterite and saprolite profile. Stream sediment anomalies are indirect indicators, however, and they do not establish mineralisation at depth. The next stage will show whether the surface anomalies correspond to material that can be drilled and sampled.

Permits, drilling and the timetable

Auger drilling is planned over the areas with the highest TREO values and other priority zones, with the aim of refining diamond drill targets. Access agreements and permit applications are under way, and radiometric traversing will test the most anomalous catchments and proposed drill lines for ultra-high-grade hard rock mineralisation.

No drilling has taken place yet, and the update does not give a date for permits to be granted. The company has not defined a resource, and the results should be read as building a pipeline of targets rather than defining a deposit.

Final Word

Gold Mountain has expanded its list of targets at Down Under, combining rare earth and gold anomalies across southern tenements. The results remain stream sediment indicators, and the path to a rare earth resource depends on permits, auger drilling and the follow-up work the company has set out.