Gold Mountain (ASX:GMN) started diamond drilling at the Irajuba prospect within the Down Under project in Brazil, according to a Friday filing with the Australian bourse.
The program aims to validate the thickness and continuity of rare earth mineralization previously found through auger drilling.
The project has a conceptual exploration target ranging between 30 million tonnes and 50 million tonnes at a grade range of 1,100 to 1,600 parts per million, the filing said.
Shares fell 10% in afternoon trade Friday.
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