Gold Mountain secures 12-month Brazilian tungsten right
- Gold Mountain secured an exclusive 12-month agreement to evaluate a 857.53-hectare historical tungsten mine in Brazil.
- Initial sampling within the tenement returned high-grade tungsten results exceeding 10,000 ppm W.
- The deal allows the company to conduct due diligence and fast-track exploration near its existing tenure.
Gold Mountain (ASX:GMN) has signed an exclusive 12-month agreement with Emprogeo Mining Business EPP to evaluate a 857.53-hectare historical tungsten mine in Brazil.
The agreement covers the Malhada do Angico mine, which previously operated during World War II and sits adjacent to existing company tenements.
"GMN is excited by this tungsten opportunity, which I recently visited," said Gold Mountain Executive Director David Evans.
Initial sampling 300m to 600m along strike returned tungsten levels above 10,000 ppm W, equivalent to 1.26% WO₃.
Gold Mountain plans to conduct auger drilling on historical tailings to confirm ore grades while advancing permit applications for exploration.
Following the announcement, the Gold Mountain share price was unchanged at $0.059.
The project is located approximately 10km from regional infrastructure in Parelhas within the Seridó Tungsten Province.
The site lies within the same geological environment as the active Brejuí tungsten mine, located 47km north of the company's holdings.
