Gold Mountain Mining Corp. (TSX:GMTN)(OTC:GMTNF)(FRA:5XFA) is pleased to announce additional assay results from its Siwash North portion of its Phase II drill program at the Elk Gold Project. The Company continues to uncover high-grade mineralization along its well-established vein systems near the project's open pits, which show strong grade continuity and openness on strike and at depth throughout the Siwash North zone.
Drilling Highlights Include:
- 1.10m grading 10.05 g/t Au including 0.30m of 46.1 g/t Au
- 1.30m grading 12.00 g/t Au including 0.30m of 44.7 g/t Au
- 1.40m grading 9.68 g/t Au including 0.40m of 24.60 g/t Au
- 1.30m grading 5.59 g/t Au including 0.30m of 18.60 g/t Au
"These results from our Siwash North drilling reinforce the consistency and grade continuity in the mineralization surrounding our open pits. Our best intercepts were struck on different veins 300m apart and show strong resemblance in both widths and grade. This gives us confidence they're beginning to converge as we extend our geological model to the west," commented CEO and Director, Kevin Smith. "With mine production now ramping up and the first two batches of assay results from our Phase II program delivering as expected, we continue to showcase the scalability of the Elk."
Phase II Drilling Program
Gold Mountain and its exploration management partner HEG & Associates ("HEG") continue to intercept high-grade mineralization by stepping out and infilling the Siwash North's well-established vein systems. These highlight intercepts came from the 1300, 2600 and 2700 veins, showing strong grade continuity as the company extends its vein model to the west.
The Company has concluded all drilling activity for its Phase II program and now await assay results from the laboratory. In total, the program drilled 13,900m, with 10,500m occurring in the Siwash North zone and the remaining 3,400m drilled in the property's satellite zones (Lake Zone, South Zone and Elusive Zone).
The Elk Gold Project has eight additional exploration zones that were drill tested by previous operators. To date, 9,000m of drilling have been performed in the Elk's Satellite Zones which do not currently contribute to the project's resource estimate.
For the first time, Gold Mountain is exploring in the satellite zones and will look to develop maiden resources in multiple areas on the Elk claims. By coupling historical drill data with strong visual mineralization in new core samples, the Company is confident that these satellite zones will showcase similar grade and structure as the Siwash North zone.
The Elusive Zone is located 10km away from Siwash North and is the most prospective region on the property. When the Elk Gold Project was discovered in the 1980's, the second largest gold-in-soil anomaly was identified in the Elusive Zone; however, given the focus on developing the Siwash North deposit, the Elusive Zone has never been drill tested. Gold Mountain will be the first operator to carry out a drill campaign on this highly-prospective target, in hopes of identifying a totally new type of mineralization and adding a new dimension to the Elk Gold mine.
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