VANCOUVER, April 24, 2013 /CNW/ - Gold Mountain Mining Corporation
(TSXV: GUM) (the "Company" or "Gold Mountain") is pleased to announce
final assay results from the Company's 2012 resource drilling program
at its 100% owned Elk Gold project near Merritt, BC. These latest
results demonstrate the continuation of mineralization potential of the
far west and south-east directions of the resource area.
During the six month field program, the Company completed 13,902 meters
of core drilling in 123 holes. The 2012 resource drill program was
designed to upgrade the existing resource, which contains 55,000
measured ounces, 245,000 indicated ounces and 263,000 inferred ounces
of gold. The focus of the 2012 resource drilling was in three areas and
the results highlights are presented in three parts below, including
the Bulk Sample Pit, Far West, and Southeast Extension Areas.
Bulk Sample Pit
Diamond core drilling was completed in the bulk sample pit area, 130m
east of the historic pit, for the dual purposes of upgrading the known
resource as well as better defining the area targeted by the company's
currently ongoing bulk sample program. The best results confirmed gold
concentrated in 3-4 high grade sub-parallel quartz veins carrying
grades up to 88.8g/t gold and 121g/t silver over a 50cm sample
interval. These results will be used to compare expected grades to
actual mining recovery once the bulk sample is completed and the ore
results have been compiled. Highlights of the drill results in this
area are shown below in chronological order and a complete list of
significant results is included in the table at the bottom of this
release.
|
Hole
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
|
SND12-166
|
0.62
|
63.10
|
64.10
|
|
SND12-167
|
1.40
|
6.96
|
16.00
|
|
Including
|
0.90
|
10.15
|
22.50
|
|
SND12-169
|
0.90
|
35.10
|
16.10
|
|
SND12-173
|
0.45
|
14.25
|
27.78
|
|
Including
|
0.25
|
24.10
|
47.60
|
|
SND12-174
|
0.30
|
20.00
|
36.30
|
|
SND12-175
|
1.60
|
7.30
|
9.22
|
|
Including
|
0.97
|
11.60
|
15.20
|
|
SND12-176
|
0.94
|
11.35
|
0.60
|
|
SND12-193
|
1.20
|
10.80
|
29.32
|
|
Including
|
0.70
|
18.15
|
48.90
|
|
SND12-194
|
0.50
|
16.90
|
50.50
|
|
SND12-195
|
0.60
|
13.41
|
8.10
|
|
Including
|
0.40
|
19.65
|
11.20
|
|
SND12-196
|
0.50
|
16.90
|
23.50
|
|
SND12-197
|
0.50
|
88.80
|
121.00
|
|
SND12-199
|
2.00
|
8.03
|
1.68
|
|
Including
|
0.50
|
25.20
|
3.60
|
|
SND12-200
|
0.50
|
70.30
|
77.20
|
|
SND12-205
|
0.50
|
15.70
|
13.50
|
|
SND12-214
|
0.50
|
19.25
|
47.30
|
|
SND12-276
|
1.00
|
19.65
|
35.05
|
|
Including
|
0.50
|
24.80
|
50.00
|
Southeast Extension
The intent of the drilling in this area was to extend the known
mineralization of the Siwash North deposit to the east along strike and
south down dip. Using an 80 x 180 meter grid the company targeted the
mineralization in this area, which is a series of thin-sheeted
quartz-sulphide veins. Results showed both low and high-grade
intercepts with the deposit remaining open to depth as well as along
strike. The 2012 drilling extended the deposit to the south for 150m
along strike and added around 60m along strike to the east. Highlights
are shown below in chronological order and a more complete list of
significant results can be found at the bottom of the release.
|
Hole
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
|
SND12-185
|
0.64
|
7.45
|
7.35
|
|
Including
|
0.40
|
11.60
|
8.70
|
|
and
|
0.28
|
7.88
|
3.60
|
|
SND12-268
|
0.30
|
17.65
|
9.90
|
|
SND12-273
|
0.50
|
13.20
|
14.60
|
|
SND12-275
|
0.31
|
26.00
|
24.20
|
|
SND12-277
|
0.5
|
13.25
|
39.30
|
Far West Extension
As a follow up to the hole SND11-123, drilled in 2011, the company
drilled a 50-60m spaced grid of diamond core drill holes to extend the
Siwash North deposit to the west along strike. The area was along the
contact between the granodiorite-quartz monzonite unit and the Nicola
Volcanic unit. Mineralization was found in quartz-sulphide veins with
less regularity than normally seen and the rocks in general were
heavily fractured. High-grade intersections and volumes were not
consistent enough to warrant further drilling in this area. Below are
the highlights of drilling in this area in the order the holes were
drilled.
|
Hole
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
|
SND12-182
|
0.70
|
6.23
|
32.71
|
|
SND12-184
|
0.80
|
6.85
|
27.11
|
|
Including
|
0.30
|
16.00
|
64.30
|
|
SND12-186
|
0.40
|
19.85
|
1.80
|
|
SND12-253
|
0.30
|
7.64
|
14.00
|
|
and
|
0.53
|
8.28
|
17.70
|
|
SND12-256
|
0.30
|
19.55
|
62.80
|
|
Hole
|
From (m)
|
To (m)
|
Interval
(m)
|
Au (g/t)
|
Ag
(g/t)
|
|
Bulk Sample Pit
|
|
SND12-165
|
31.42
|
31.77
|
0.35
|
7.08
|
4.50
|
|
SND12-166
|
25.36
|
25.98
|
0.62
|
63.10
|
64.10
|
|
SND12-167
|
22.80
|
24.20
|
1.40
|
6.96
|
16.00
|
|
including
|
22.80
|
23.70
|
0.90
|
10.15
|
22.50
|
|
SND12-169
|
23.73
|
24.63
|
0.90
|
35.10
|
16.10
|
|
SND12-170
|
21.64
|
22.60
|
0.96
|
4.19
|
12.09
|
|
including
|
21.64
|
21.95
|
0.31
|
10.60
|
33.20
|
|
SND12-171
|
21.15
|
21.47
|
0.32
|
11.18
|
24.10
|
|
SND12-172
|
11.56
|
11.92
|
0.36
|
3.77
|
6.00
|
|
SND12-173
|
19.25
|
19.70
|
0.45
|
14.25
|
27.78
|
|
including
|
19.25
|
19.50
|
0.25
|
24.10
|
47.60
|
|
SND12-174
|
17.73
|
18.03
|
0.30
|
20.00
|
36.30
|
|
SND12-175
|
24.35
|
25.95
|
1.60
|
7.30
|
9.22
|
|
including
|
24.98
|
25.95
|
0.97
|
11.60
|
15.20
|
|
SND12-176
|
24.06
|
25.00
|
0.94
|
11.35
|
0.60
|
|
SND12-193
|
10.80
|
12.00
|
1.20
|
10.80
|
29.32
|
|
including
|
11.30
|
12.00
|
0.70
|
18.15
|
48.90
|
|
SND12-194
|
14.00
|
14.50
|
0.50
|
16.90
|
50.50
|
|
SND12-195
|
3.30
|
3.90
|
0.60
|
13.41
|
8.10
|
|
including
|
3.30
|
3.70
|
0.40
|
19.65
|
11.20
|
|
SND12-196
|
7.10
|
7.60
|
0.50
|
13.68
|
7.00
|
|
and
|
18.47
|
18.97
|
0.50
|
16.90
|
23.50
|
|
SND12-197
|
10.95
|
11.15
|
0.20
|
19.85
|
1.80
|
|
and
|
21.50
|
22.00
|
0.50
|
88.80
|
121.00
|
|
SND12-199
|
15.50
|
17.50
|
2.00
|
8.03
|
1.68
|
|
including
|
15.50
|
16.00
|
0.50
|
25.20
|
3.60
|
|
and
|
28.86
|
29.60
|
0.74
|
30.20
|
117.00
|
|
SND12-200
|
9.25
|
9.75
|
0.50
|
70.30
|
77.20
|
|
SND12-202
|
12.50
|
13.00
|
0.50
|
6.02
|
20.40
|
|
SND12-205
|
29.64
|
30.14
|
0.50
|
15.70
|
13.50
|
|
and
|
32.60
|
33.83
|
1.23
|
5.90
|
20.38
|
|
SND12-212
|
10.63
|
11.13
|
0.50
|
2.15
|
6.10
|
|
SND12-214
|
13.37
|
13.87
|
0.50
|
19.25
|
47.30
|
|
SND12-216
|
32.00
|
32.50
|
0.50
|
2.37
|
6.30
|
|
SND12-219
|
27.67
|
28.33
|
0.66
|
8.96
|
24.10
|
|
SND12-220
|
6.00
|
6.50
|
0.50
|
7.47
|
30.60
|
|
SND12-222
|
3.90
|
4.43
|
0.53
|
7.50
|
4.00
|
|
SND12-276
|
11.00
|
12.00
|
1.00
|
19.65
|
35.05
|
|
including
|
11.50
|
12.00
|
0.50
|
24.80
|
50.00
|
|
South East Extension
|
|
GW12-001
|
41.75
|
42.25
|
0.50
|
2.69
|
4.30
|
|
GW12-002
|
29.73
|
30.03
|
0.30
|
2.08
|
2.40
|
|
SND12-185
|
142.16
|
142.80
|
0.64
|
7.45
|
7.35
|
|
including
|
142.40
|
142.80
|
0.40
|
11.60
|
8.70
|
|
and
|
197.12
|
197.40
|
0.28
|
7.88
|
3.60
|
|
SND12-190
|
139.78
|
140.08
|
0.30
|
6.09
|
5.10
|
|
SND12-192
|
8.50
|
10.50
|
2.00
|
3.68
|
3.85
|
|
SND12-268
|
132.20
|
132.50
|
0.30
|
17.65
|
9.90
|
|
and
|
146.25
|
146.55
|
0.30
|
3.22
|
3.00
|
|
SND12-273
|
155.41
|
155.91
|
0.50
|
13.20
|
14.60
|
|
SND12-275
|
179.10
|
179.41
|
0.31
|
26.00
|
24.20
|
|
SND12-277
|
174.50
|
175.00
|
0.50
|
13.25
|
39.30
|
|
Far West Extension
|
|
SND12-182
|
41.00
|
41.70
|
0.70
|
6.23
|
32.71
|
|
SND12-184
|
41.20
|
42.00
|
0.80
|
6.85
|
27.11
|
|
including
|
41.20
|
41.50
|
0.30
|
16.00
|
64.30
|
|
SND12-186
|
158.60
|
159.00
|
0.40
|
19.85
|
1.80
|
|
SND12-225
|
13.30
|
13.60
|
0.30
|
3.70
|
11.20
|
|
SND12-229
|
31.70
|
32.20
|
0.50
|
1.23
|
354.00
|
|
SND12-253
|
78.95
|
79.25
|
0.30
|
7.64
|
14.00
|
|
and
|
90.28
|
90.81
|
0.53
|
8.28
|
17.70
|
|
SND12-256
|
128.15
|
128.45
|
0.30
|
19.55
|
62.80
|
|
SND12-263
|
102.50
|
103.29
|
0.79
|
4.50
|
22.49
|
|
SND12-265
|
117.45
|
117.85
|
0.40
|
4.18
|
16.70
|
|
|
All widths reported above are down hole intercepts only, with true
widths ranging from approximately 70
to 100 % of the reported width. All holes were drilled to the north and
dip between -50 and -90 degrees.
|
The result of the drilling in and around the existing resource has
expanded the strike and dip continuity of the existing vein complex.
Drill results in the proposed bulk sample pit area were used to confirm
historic drilling and provide information to complete the Mine permit
amendment application for the bulk sample. Bulk sample drill results
confirmed previous drill results and provided a high degree of
confidence moving forward with the program.
The current NI 43-101 resource estimate, based on drill data available
to 2009, stands at 200,000 tonnes Measured at an average grade of 8.77
g/t (for 55,000 ounces of gold contained) and Indicated at an average
grade of 3.82 g/t Au (for 245,000 ounces gold contained), plus
1,150,000 tonnes Inferred at an average grade of 7.13 g/t Au (for
263,000 ounces gold contained) using a cut-off grade of 0.5 g/t Au.
Gold Mountain adheres to a strict QA/QC monitoring program that includes
the insertion of blanks, standards and duplicates into the sample
stream. Core samples were analyzed by ALS Canada Ltd in North Vancouver
BC, using Fire Assay methods with a gravimetric finish for results over
10g/t gold, or an Atomic Absorption finish for results under 10g/t.
The Company's Senior Geologist, Robert Wilson, P.Geo., was responsible
for the design and management of the 2012 field program and also acts
as the Company's Qualified Person for technical disclosure per National
Instrument 43-101.
About Gold Mountain Mining
Gold Mountain is a new public resource company managed by an experienced
team of professionals with a solid track record of exploration and
development success. The Company owns 100% of the 16,700 hectare Elk
Gold property, which it intends to develop into a precious metal
producer within the next two years, and is also seeking additional
near-term production assets to further build shareholder value.
Additional information is available at www.sedar.com or on the Company's new website at www.aumtn.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
has reviewed or accepts responsibility for the adequacy or accuracy of
this Release.
ON BEHALF OF THE BOARD
"Chris McLeod" (signed)
Chris McLeod, President & CEO
Forward-Looking Statements: This news release contains forward-looking
statements that are based on the Company's current expectations and
estimates. Forward-looking statements are frequently characterized by
words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar words
or statements that certain events or conditions "may" or "will" occur,
and include, without limitation, statements regarding the closing of
further tranches of the Offering, the use of proceeds from the
Offering and the Company's plans with respect to the exploration and
development of its projects. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that could
cause actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result
of new information, future events or results or otherwise.
Forward-looking statements are not guarantees of future performance and
accordingly undue reliance should not be put on such statements due to
the inherent uncertainty therein.
SOURCE: Gold Mountain Mining Corporation
Chris McLeod, President & CEO or Rod Shier, Chief Financial Officer at 604 558-4653