Gold Mountain drills more Elk high-grade in Phase 2 drill program, British Columbia

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Gold Mountain Mining Corp. [GMTN-TSXV; GMTNF-OTCQB; 5XFA-FSE] reported assay results from its Phase 2 drill program at the Elk Gold Project near Merritt, south-central British Columbia. The high-grade assay results continue to extend the Siwash North zone’s established mineralization down-dip and indicate clear vein continuity at depth near the project’s ope pits.

Drilling highlights include 1.30 metres grading 10.59 g/t gold, including 0.30 metres of 45.60 g/t gold; 1.10 metres grading 17.54 g/t gold, including 0.50 metres of 31.10 g/t gold; 0.90 metres grading 14.59 g/t gold, including 0.30 metres of 21.30 g/t gold and 1.40 metres grading 5.85 g/t gold, including 0.40 metres of 19.30 g/t gold.

Gold Mountain’s Phase 2 drill program continues to methodically extend the Elk’s shallow, open-pit amenable vein systems as well as its deeper, high-grade mineralization in the Siwash North Zone. Phase 2 encapsulated the exploration of the Lake, South and Elusive zones, 3 of the other 9 drill tested mineralized zones on the property. Based on the strong intercepts early in the program, Gold Mountain increased the total Phase 2 meterage by 30% from 10,000 to 13,000 metres.

“In Phase 1 we showed how impactful a well-planned and methodical drill program can be, as we increased our resource by 45% off an 8,700-metre program. Phase 2 continues this strategy of infilling and stepping out from the project’s well-established mineralization and we’re confident that assay results like these highlight intercepts will have a strong impact on our updated resource estimate due this fall” said Kevin Smith, CEO and Director of Gold Mountain. “Now that the mine is transitioning to commercial production, Gold Mountain’s focus is to scale our resource through proceeds of mining and uphold our commitment of getting the Elk past a million ounces.”

Gold Mountain and its exploration contractor HEG & Associates followed the success of its Phase 1 drill program by continuing to perform infill and step-out drilling on its well-established vein systems in Siwash North. The highlight assays were intercepted along the 1300, 2600 and 2700 veins which extend to the west and are near the project’s historical open pits.

The highlighted intercepts continue to demonstrate strong gold grades and lateral extensions in all three vein systems. By hitting significant mineralization, the company continues to expand its vein models which are anticipated to add additional ounces to its planned resource estimate update this fall.

Due to the initial mineralization the company intercepted in Siwash North, Gold Mountain added an additional 3,000 metres of drilling to its Phase 2 exploration program.

In addition to Siwash North drilling, the company explored an additional three mineralized satellite zones at the Elk Gold project during its Phase 2 program which include the Lake Zone, South Zone and the highly-prospective Elusive Zone.

 


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