en.Wedoany.com Reported - Gold Mountain (ASX:GMN) has reported that diamond drilling has extended the rare earth mineralization footprint at the Irajuba target in Brazil beyond previous exploration targets.
Drill hole IRDD260090 returned an 11-meter interval grading 2,892 ppm total rare earth oxides (TREO), with magnet rare earth oxides (MREO) accounting for 41.1% of TREO; the same hole also intersected a 6-meter interval grading 4,406 ppm TREO, with an MREO/TREO ratio of 48.1%. Drill hole IRDD260092 returned a 20-meter interval grading 1,515 ppm TREO, with an MREO/TREO ratio of 43.1%; including a 7-meter interval grading 2,828 ppm TREO, with an MREO/TREO ratio of 42.2%. All intercepts are reported using a nominal 400 ppm TREO cut-off grade within the weathered profile, and the current mineralization footprint extends over 1.2 kilometers. The length-weighted average MREO content of all intercepts above cut-off grade is 41.7%, a high-value component for permanent magnet applications.
Executive Director David Evans stated that the latest results from IR-1 continue to demonstrate the scale and continuity of rare earth mineralization within the Down Under project, with broad intervals, favorable MREO ratios, and continuity between drill holes further reinforcing the company's confidence in the scale of the weathered profile system.
Gold Mountain previously reported an exploration target for Irajuba in December 2025 of 40 to 45 million tonnes of ore grading between 1,200 and 1,400 ppm TREO. The company holds 136 granted mining claims within the Down Under project in eastern Bahia State, targeting ion-adsorption clays and residual heavy mineral enrichments within deep weathered profiles of Archean granulite-facies rocks. The company is advancing drilling permits for multiple targets including Capivara, Down Under Central, Varzedo, and Poções.
Gold Mountain is a Brazil-focused rare earth explorer advancing the ionic clay Down Under project in Bahia State, with a growing portfolio of granted mining claims in prospective granulite-facies terrain.
