WHAT IDIOTNovember 12th - Gold Mountain Mining Corp. has provided a status report on its 100-per-cent-owned Elk gold project near Merritt, B.C. The company's four-month field program was completed in early October, wherein the company completed 14,000 metres of core drilling in 77 holes, approximately 24 line kilometres of induced polarization surveying and a 12 line km Titan 24 test survey. Results from the 2011 exploration program are still being finalized, with assays pending, and will be reported in the near future.The current NI 43-101 resource estimate (not including 2010 and 2011 data) includes 2.19 million tonnes measured and indicated at 4.26 grams per tonne Au for 301,000 ounces gold contained, and 1.15 million tonnes inferred at 7.13 g/t Au for 263,000 ounces gold contained. Once all drill results have been received, a resource update will be conducted, to include the 2010 and 2011 drill results in a new block model. Gold mineralization occurs in at least nine different zones on the Elk property, contained within multiple, stacked quartz-pyrite veins and stringers, hosted by a granitic intrusive and surrounding mafic to intermediate volcanics. The vein system in the historic 200-metre-long pit area has been previously defined over a strike length of at least 1,000 m with erratic nuggety grades ranging from one to 50 g/t gold (but as high as 500 g/t) over 0.2- to 0.4-metre widths.The 2010 infill drilling program was designed to upgrade the 43-101 resource and highlights of the 2010 drill program are tabulated.
From To Int. AuHole m m m g/tSND10-006 98.30 100.70 2.40 14.87Incl. 98.30 98.45 0.15 233.00SND10-010 146.10 148.30 2.20 13.08Incl. 146.10 146.30 0.20 137.00SND10-011 86.30 89.55 3.25 46.70Incl. 87.85 88.20 0.35 432.00SND10-012 78.68 80.40 1.72 15.12Incl. 78.90 79.10 0.20 66.00SND10-018 40.65 42.05 1.40 11.26Incl. 41.76 42.05 0.29 46.90SND10-029 175.86 178.00 2.14 6.28Incl. 177.10 177.30 0.20 57.10SND10-034 152.00 153.10 1.10 26.56Incl. 152.00 152.35 0.35 61.90SND10-042 101.00 102.80 1.80 14.56Incl. 102.63 102.80 0.17 84.10SND10-064 82.10 83.40 1.30 28.23Incl. 82.10 82.56 0.46 55.10SND10-071 98.05 99.77 1.72 4.40Incl. 99.40 99.47 0.07 69.50Please note that all widths reported above are down hole intercepts only, with true widths ranging from approximately 70 to 100 per cent of the reported width.
Quality control
Gold Mountain's vice-president of exploration, Peter Thiersch, MSc, PGeo, acts as the company's qualified person for technical disclosure per National Instrument 43-101 and has reviewed and approved the technical content of this press release. The analyses reported were conducted by ALS Chemex Laboratories of North Vancouver (for Almaden Minerals in 2010) using industry-standard fire assay techniques.
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