BRITISH COLUMBIA – Gold Mountain Mining of Vancouver says this year’s bulk sample from the open pit at its Elk gold project near Merritt assayed 22.8 g/t Au in one 606-tonne lot of the material.
A total of 6,668 tonnes was removed in five lots. The average grade was 17.3 g/t containing 3,711 oz. The four lots that have been processed put $3.88 million in the company treasury.
The Elk property is home to a former mine that produced 51,500 oz of gold in the mid 1990s. Gold Mountain acquired it in 2011. The Elk deposit has multiple high grade gold veins hosted by intrusive and volcanic rocks. The veins are narrow, from 20 to 40 cm wide, but have returned assays as high as 400 g/t Au. The deposit contains 2.20 million measured and indicated tonnes grading 7.13 g/t Au, and 1.15 million inferred tonnes at 7.13 g/t.
The corporate presentation at AuMtn.com contains key numbers from the preliminary economic assessment for the Elk project.