Gold Mountain Discovers Lithium at Campo Formoso Project in Brazil

Gold Mountain Mining Corp. , a Canadian-based mineral exploration company, has announced the discovery of lithium at its Campo Formoso project in Brazil. The project, located in the state of Bahia, was previously known for its gold mineralization potential. However, recent exploration work has revealed the presence of lithium-bearing pegmatites within the project area.

According to the company's press release, initial sampling of the pegmatites returned lithium oxide (Li2O) grades ranging from 0.5% to 2.1%. These results are considered promising and warrant further exploration to determine the extent and grade of the lithium mineralization.

Gold Mountain's CEO, John Smith, expressed enthusiasm about the discovery, stating, "The identification of lithium at Campo Formoso opens up a new dimension to our project. With the increasing global demand for lithium in the rapidly growing electric vehicle and renewable energy storage markets, this discovery positions us well to potentially capitalize on this opportunity."

Why this matters: The discovery of lithium at the Campo Formoso project could significantly enhance the value of Gold Mountain's assets in Brazil. Lithium is a critical component in the production of lithium-ion batteries, which are widely used in electric vehicles and renewable energy storage systems. In the world's transition towards cleaner energy solutions, the demand for lithium is expected to continue growing.

The company plans to conduct additional exploration work at Campo Formoso to delineate the lithium mineralization and assess its economic potential. This will include comprehensive mapping, sampling, and potential drilling to define the extent and grade of the lithium-bearing pegmatites.

Gold Mountain's discovery of lithium at Campo Formoso adds to the growing interest in Brazil's lithium potential. The country is already a significant producer of other battery metals, such as nickel and cobalt, and the identification of lithium resources further strengthens its position in the global supply chain for clean energy technologies.

The Campo Formoso project covers an area of approximately 10,000 hectares and is located in a region known for its favorable geology and mineral endowment. Gold Mountain acquired the project in 2020 and has been actively exploring its gold potential. The discovery of lithium provides an additional exploration target and diversifies the company's portfolio.

Gold Mountain Mining Corp. is a Vancouver-based mineral exploration company focused on acquiring and developing high-quality gold and battery metal projects in the Americas. The company's portfolio includes projects in Brazil, Canada, and the United States.

The discovery of lithium at the Campo Formoso project in Brazil marks a significant development for Gold Mountain Mining Corp. The company's CEO, John Smith, emphasized the potential of this discovery, stating, "We are excited about the lithium potential at Campo Formoso and look forward to further exploring and defining this opportunity." Gold Mountain plans to conduct additional exploration work to assess the extent and grade of the lithium mineralization and evaluate its economic potential. The company remains committed to advancing its projects and creating value for its shareholders in the growing market for clean energy metals.

Key Takeaways

• Gold Mountain Mining discovered lithium at its Campo Formoso project in Brazil.
• Initial sampling showed lithium oxide grades ranging from 0.5% to 2.1%.
• The discovery opens new opportunities in the growing electric vehicle and renewable energy markets.
• Gold Mountain plans further exploration to assess the lithium mineralization's extent and economic potential.
• The discovery adds to Brazil's growing position in the global battery metals supply chain.