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Gold Mountain Mining Corp. (GMTNF) is a British Columbia-based gold and silver production, exploration, and development company focused on the Elk Gold Project, located 57 KM from Merritt in South Central British Columbia. The company has recently faced challenges with contractors and debt repayment, while also undergoing changes in its executive team.
Despite financial difficulties and legal issues, Gold Mountain remains committed to its mining operations and is actively seeking solutions to overcome its current challenges. The company's new Chief Financial Officer, Mr. Calvin Cheung, brings over 20 years of financial experience, aiming to steer the company towards stability and growth.
Gold Mountain Mining has announced a revenue of $548,862 for February ore deliveries to New Gold's New Afton Mine. The company's first month of operation involved delivering 2,500 tonnes of ore with an average gold grade of 3.9 g/t. In March, Gold Mountain expects to deliver approximately 1,650 ounces of gold, projecting revenues of about $3 million. The company is ramping up production from its high-grade 1300 vein and anticipates continued growth with further deliveries planned for April.
Gold Mountain Mining Corp. has announced a new high-grade gold discovery in the Elusive Zone, located 5km southwest of the Siwash North gold resource at their Elk Gold Project. The initial drill results, including an impressive intercept of 51.15 g/t Au over 2.07m, confirm substantial high-grade zones and significant exploration potential. This discovery may enable Gold Mountain to upscale its resource and enhance production capabilities significantly. The Phase III drill program is underway, with plans for further exploration to follow.
Gold Mountain Mining Corp. has announced a significant discovery of a new high-grade gold system in the Elusive Zone, located 5km southwest of its Siwash North gold resource. Recent diamond drill results include a highlight of 2.07m grading 51.15 g/t Au and significant mineralization, showcasing the exploration potential of the Elk Gold Project. This marks the first drilling in the Elusive Zone, indicating promising scalability and a clear path for resource expansion as the company advances its Phase III drill program.
Gold Mountain Mining Corp. has successfully completed its first ore delivery to New Gold Inc. at the New Afton Mine, marking a significant step in its transition to revenue generation. Mined from the 1300 vein, this high-grade ore will be shipped regularly, with ownership transferring upon delivery, thus mitigating recovery risks for Gold Mountain. The company plans to ramp up deliveries and initiate drilling for further resource expansion, anticipating a production profile of 19,000 oz annually for the first three years.
The Ore Purchase Agreement entails a commitment to deliver 70,000 tonnes of ore per year.
Gold Mountain Mining has successfully completed its first delivery of high-grade ore to New Gold Inc. at the New Afton Mine in British Columbia, marking a significant step towards cash flow and revenue generation. The ore was sourced from the 1300 vein, previously mined between 2012 and 2014 at an average grade of 16.7 g/t. Under the Ore Purchase Agreement, Gold Mountain will deliver 70,000 tonnes of ore per year, with ownership transferring upon delivery, thus minimizing recovery risks. Future plans include ramping up deliveries and expanding production operations.
Gold Mountain Mining Corp. has announced an updated National Instrument 43-101 Mineral Resource Estimate for the Elk Gold Project, reflecting a 24% increase in Measured and Indicated Resources to 806,000 oz at 5.8 g/t AuEq, and a 65% increase in Inferred Resources to 262,000 oz at 5.4 g/t AuEq.
The update follows a successful Phase 2 drill program comprising 13,900 meters, revealing significant mineralization in new and existing zones, including the Siwash North, Gold Creek, Lake, and South Zones.
Gold Mountain Mining Corp. announced a significant update to its resource estimate at the Elk Gold Project, revealing 806,000 oz of Measured & Indicated Resources at 5.8 g/t AuEq and 262,000 oz Inferred at 5.4 g/t AuEq. This marks a 24% increase in Measured and Indicated ounces and a 65% increase in Inferred ounces, following a successful Phase 2 drill program with 13,900 metres drilled and all holes hitting mineralization. The project exhibited strong geological potential, merging the Siwash North and Gold Creek Zones.
Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF) announced a major drilling success at the Elk Gold Project, achieving one of the widest intercepts ever recorded during its Phase II drilling program. Significant assay results include a 2.4m intercept grading 20.2 g/t Au and a high of 127.0 g/t Au over 0.4m. The company plans to transition into Phase III exploration, aiming to further explore high-grade mineralization and develop maiden resources in previously tested satellite zones. Results from this program will inform an updated resource estimate expected soon.
Gold Mountain Mining Corp. (GMTNF) announced significant drilling results at the Elk Gold project. The Phase II Siwash North drill program yielded one of the widest intercepts ever recorded, with a notable result of 2.4m grading 20.2 g/t Au, including a high of 127.0 g/t Au. The company has drilled approximately 13,900m across various zones and anticipates updated resource estimates shortly. With successful results in both the Siwash North and potential in satellite zones, Gold Mountain is optimistic about further resource expansion.
Gold Mountain Mining Corp. (TSX:GMTN, OTCQB:GMTNF) announced additional high-grade assay results from its Phase II drill program at the Elk Gold Project. Key drilling highlights included intercepts of 1.10m grading 10.05 g/t Au and 1.30m grading 12.00 g/t Au. The program totaled 13,900m, with focus on the Siwash North zone. The company aims to explore eight additional satellite zones and plans to drill the Elusive Zone, previously untested. These developments may enhance the project’s resource potential and scalability.
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