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.
Sponsored · Selkirk Copper Mines
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.
