Gold Mountain (TSX.V: GMTN OTCQB: GMTNF) continues to build shareholder value through the drill bit. The company recently completed additional holes, part of the phase 1 program, focused on high-grade mineralization of the 2600 and 2700 vein systems and showcase near-surface gold grades consistent with the company's successful deep drilling results announced on April 14, 2021. Additionally, the company's relogging of historic core using the latest technology continues to uncover high-grade mineralization missed by previous operators.
- The results from the latest assays extend the 2600 and 2700 veins and convey strong grade continuity as the company continues infilling. Drill results include:
- SND20-033 intercepted 1.3 metres averaging 13.3 grams per tonne gold (including 0.30 m averaging 56.5 g/t Au).
- SND20-033 intercepted 1.3 m averaging 4.5 g/t Au (including 0.30 m averaging 19.2 g/t Au).
- A relogging and sampling program uncovered a new vein intercept from a historic hole:
- SND11-128, yielding 0.2 m averaging 47.8 g/t Au.
Gold Mountain's chief executive officer, Kevin Smith, commented: "These results at the tail end of our phase 1 drill program bring our hit rate to 100 per cent. Every drill hole from this program returned significant gold intercepts. The primary goal of the final drill holes was to infill data gaps in the 2600 and 2700 vein system[s] and to further enhance JDS's underground geotechnical model. Having these holes return some of our highest grades is a welcomed surprise. Additionally, we continue to uncover phenomenal grades from our relogging program that is proving to be an economical way to fill gaps in our model. The Elk gold project continues to demonstrate excellent continuity and expandability."
Mr. Smith continued: "Gold Mountain finds itself in a unique position where we're able to deliver shareholder value not only through our exploration efforts but also through the coming transition into development and production. This gives us a unique upside in the junior space, which we feel sets us apart from our peers. The market seems to be waking up to our story and with early shareholders staying long there has been a great response in our share price. Management is extremely focused on execution and looks forward to continuing to deliver meaningful progress in the coming months."
Gold Mountain's (TSX.V: GMTN OTCQB: GMTNF) phase 1 drill program should be wrapping up, the latest assay results from three of the final five phase 1 drill holes further extend the 2600 and 2700 vein systems toward the northeast. The intercepts articulate strong consistency throughout the vein system, with assay results showing high grades in each of the new drill holes targeting the 2600 and 2700 veins.
The final five holes targeting the 2600 and 2700 veins were positioned to infill data gaps in the vein systems and maintain a 75 m distance between drill holes with the goal of methodically expanding the resource at the Siwash North zone. The company encountered grade and thickness levels that surpassed its expectations with intercepts showing high grades rivalling its deep drilling intercepts.
The company also relogged core data from the previous operator, coupled latest exploration technology to discover additional veins. The company found initial success, discovering a new vein intercept recognized in historic hole SND11-132, yielding 1.2 m averaging 52.3 g/t Au (including 0.30 m averaging 216 g/t Au.) Recently, the company uncovered an additional new vein intercept recognized in historical hole SND11-128, yielding 0.2 m averaging 47.8 g/t Au. With the discovery of these two high-grade intercepts, the company is bullish on the extensive relogging efforts that are part of its phase 2 exploration program and anticipates it will lead to adding cost-effective ounces to its resource estimate.
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