Gold Mountain Discovers New Gold System At Elusive Zone

The latest drill results are in for Gold Mountain Mining Corp (TSX: GMTN), and they appear to be promising. The results point to the firm discovering a new high grade gold system within one of its zones.

The new gold system was found within the Elusive Zone at the firms Elk Gold Project in British Columbia. Found within the Nicola Volcanics, the company managed to intersect 51.15 g/t gold over 2.07 metres, including 351 g/t gold over 0.3 metres in hole SND21-051. The firm also reported intersecting 0.97 g/t gold over 6.0 metres within hold SND21-049.

“It is extremely rare for the first holes in an undrilled zone to return such strong results, and for us to encounter significant mineralization is a testament to our ability to upscale this project beyond Siwash North. This new discovery adds a brand new dimension to the project and opens up considerable blue sky potential,” said CEO Kevin Smith on the discovery.

The Elusive Zone is classified by the company as “the most prospective target” on the firms property. The zone is just now being drill tested following the company bringing its Siwash North deposit into production. Further drilling is slated to occur under the firms phase four drill program planned for next spring.

Gold Mountain Mining last traded at $1.40 on the TSX.


FULL DISCLOSURE: Gold Mountain Mining is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Gold Mountain Mining on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

Gold Mountain Mining Receives Mining Permit For Elk Gold Project

As the two day halt suggested, Gold Mountain Mining Corp (TSXV: GMTN) has finally received...

Tuesday, November 2, 2021, 07:48:44 AM

Gold Mountain Mining Sees Resource Estimate Update Improve M&I Category 24%

The data is in and the numbers have been crunched. Gold Mountain Mining (TSX: GMTN)...

Tuesday, December 7, 2021, 07:30:24 AM

Gold Mountain: Star Royalties Purchase Highlights Value Of Flagship Asset

The trouble with investing in small cap equities is that sometimes, it takes a while...

Wednesday, September 29, 2021, 10:08:00 AM

Gold Mountain: The First Mining Permit in BC In Nearly A Decade – The Daily Dive

Joining us on the Daily Dive for the first time is Kevin Smith, CEO of...

Tuesday, November 2, 2021, 01:30:00 PM

Gold Mountain Mining: On The Path To Production

Gold Mountain Mining Corp. (TSXV: GMTN) is a Vancouver-based advanced-stage junior gold exploration company that...

Saturday, July 24, 2021, 01:18:00 PM