Gold Mountain Limited Identifies Promising Copper and Lithium Anomalies at Iguatu Project

Initial Findings

Gold Mountain Limited (ASX: GMN) has received initial batches of 231 stream sediment samples from the Iguatu Project area in Brazil. The samples indicate extensive multi-element anomalies suggestive of IOCG (Iron Oxide Copper Gold) copper mineralization in the central and eastern parts of the Iguatu and Iguatu North tenements, which cover a total of 1,322 km².

The assays revealed widespread anomalies in elements such as copper (Cu), gold (Au), iron (Fe), mercury (Hg), and barium (Ba), indicative of Olympic Dam style IOCG mineralization. Additionally, typical IOCG alteration assemblages were identified, further confirming the project's potential.

High-Priority Targets

Four high-priority geochemical targets have been identified for follow-up sampling and definition of IOCG type targets for Induced Polarization (IP) surveys. Strongly anomalous lithium results also indicate the presence of LCT (Lithium-Cesium-Tantalum) type pegmatites in the tenements, including areas where pegmatites had been previously recorded.

Managing Director David Evans commented, 'This is a fantastic first step proving GMN ground is fertile and has the potential to host a world-class IOCG deposit similar to Olympic Dam.'

Future Workplan

The future workplan includes infill sampling between anomalous areas, mapping, and soil sampling for the confirmed LCT pegmatites to define drill targets. Additional sample results from these project areas, which have not yet been received, will be interpreted once they are returned from the lab.

Figures 1 and 2 in the announcement show the extent of identified IOCG copper anomalies and total coverage by sample results received to date in Iguatu and Iguatu North. Figures 3 and 4 illustrate the distribution of lithium anomalous LCT element anomalies, while Figure 5 shows the mapped pegmatites in the Iguatu North project area.