Gold Mountain Mining (TSX: GMTN) this morning released further drill results from its Elk Gold Project in British Columbia. The firm reported one of the widest intercepts to date, 2.4 metres grading 20.2 g/t gold, among the results this morning.
The intercepts come from its phase two drill program which was largely focused on Siwash North, with the results being some of the last expected from the drill program. The firm indicated that most of the assays have now been returned from the lab, with Gold Mountain now focused on updating its geological model with the results seen from the program.
The highlight intercept is said to come from 150 metres north of the open pits, where a 75 metre step out was conducted on the 2600 vein. Mineralization here remains open to the east, with the phase three program, which is now underway, slated to further explore in this region of the property. The third phase of the drill program is targeting a total of 10,000 metres of drilling, along with relogging 5,000 metres of historical core.
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Results released this morning include:
- SND21-017: 2.4m grading 20.2 g/t gold including 0.4m of 127.0 g/t gold
- SND21-019: 1.3m grading 4.25 g/t gold including 0.3m of 18.4 g/t gold
- SND21-019A: 1.3m grading 4.48 g/t gold including 0.3m of 19.4 g/t gold
- SND21-026: 1.3m grading 6.87 g/t gold including 0.3m of 28.6 g/t gold
“When we acquired this project from Equinox in 2019, many believed that all of the Elk’s exploration upside had been realized and that drill programs would struggle to add value. Our drills continue connecting with high grade mineralization and this latest bonanza grade intercept should show the market the Elk’s significant upside potential. Based on the quality of these intercepts we continue to see, management is very keen to see how these grades play into our upcoming resource estimate,” commented CEO Kevin Smith on the results.
Gold Mountain Mining last traded at $1.58 on the TSX.
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