Gold Mountain Mining Corp. (TSX:GMTN) (OTCQB:GMTNF) has intercepted additional very high-grade mineralisation at the Elk Gold project during its Phase lll drill campaign in the Siwash North Zone in British Columbia, Canada.
- Drilling highlights include:
- 1.50 m grading 42.39 g/t Au including 0.30m of 207.00 g/t Au
- 2.31 m grading 18.90 g/t Au including 0.43m of 101.00 g/t Au
- 1.60 m grading 26.03 g/t Au including 1.09 m of 38.20 g/t Au
- 1.17 m grading 16.46 g/t Au including 0.30 m of 35.30 g/t Au
- 1.00 m grading 12.04 g/t Au including 0.30 m of 39.60 g/t Au
- Hole SND-066 intercepted 207 g/t along the Siwash North’s 1400 vein, located below the company’s current mine operations.
- Intercepting these grades allows the company to fill spatial data gaps and increase the geological confidence in veins directly adjacent to the current mining area.
“After marching this resource passed a million ounces and making a new high-grade gold discovery in our Phase ll exploration program, we moved the drill back to the Siwash North zone for Phase lll to perform infill and step-out drilling along our high-grade mineralisation,” CEO and Director, Kevin Smith, said.
“Connecting with high-grade directly below our current mine plan gives us the opportunity to analyse bringing both the 1350 and 1400 vein into our mine plan sooner. While the mine is now into cash flow and ramping up to our proposed 19,000 oz production profile, management remains focused on continuing to scale our high-grade resource and our goal of building a multi-million-ounce gold producer.”
Phase lll
Following the success of its Phase ll exploration programme, Gold Mountain returned to the Siwash North Zone for Phase lll to perform infill and step-out drilling along its well-established mineralisation targeting the veins surrounding its open pits.
The company’s goals for Phase III are to add ounces to its resource, establish vein continuity in its open pits and further validate its geological model. The company anticipates releasing an updated resource estimate that includes the Phase III results in the second half of 2022.
High-Grade Intercepts
In Phase lll’s first batch of assays, Gold Mountain intercepted high-grade in the Siwash North Zone while targeting both the 1350 and 1400 veins. Intercepting ultra-high grade directly below the footwall of the 1300 vein, which is currently being mined, allows the company to fill spatial data gaps and increase the geological confidence in veins adjacent to the current mining area.
The company’s final drill holes of the campaign are targeting the Gold Creek Zone, with a goal of extending its vein model to the east and at depth. Once all assays are reported, Gold Mountain and HEG & Associates Exploration Services Inc. the company’s exploration management partner, will refine the Elk’s geological model which will assist in delineating the updated resource estimate anticipated for the second half of 2022.
For further information please visit: https://gold-mountain.ca/
