Gold Mountain Mining Corp. [GMTN-TSXV; 5XFA-FSE] reported gold results from the company’s down-dip portion of its Phase 1 drill program at its 100%-owned Elk gold project located near Merritt, southern British Colombia. These high-grade assay results continue to expand known veins down-dip indicating a clear path growth of the project.
Assay results from down-dip drilling confirm the presence of high-grade vein extensions. Drill hole SND20-029 intercepted 1.42 metres averaging 37.00 g/t gold, including 0.42 metres averaging 124.00 g/t gold. Hole SND20-032 intercepted 1.22 m averaging 16.23 g/t gold, including 0.30 metres averaging 62.20 g/t gold. Hole SND20-032 intercepted 1.30 metres averaging 7.95 g/t gold, including 0.30 metres averaging 31.30 g/t gold.
The assay results of the down-dip drilling continue to demonstrate the potential to expand the current resource at depth. All drill holes encountered significant mineralized intercepts.
Gold Mountain’s CEO, Kevin Smith, commented, “We’re thrilled to be sharing these results with the market, further confirming our thesis that the veins at the Elk are getting higher grade the deeper we chase them.” Smith added: “All 36 drill holes for which assays have been received to date have encountered significant gold vein intercepts, a testament to our project’s scalability. Gold Mountain is confidently going to continue to chase these high-grade veins throughout the property with the focus of adding ounces to our resource and making Elk Gold B.C.’s next million-ounce producing mine.”
Gold Mountain’s technical adviser, Quinton Hennigh, commented: “The Elk gold project hosts one of the most predictable vein systems I have seen. Continuity is excellent, and these holes indicate this characteristic persists at depth. Gold Mountain has a well-designed drill program to exploit this predictability, thus allowing high confidence in the ability to progressively grow the deposit.”