Gold Mountain The Elk Gold Property Grows To Over 1 Million Ounces In Updated Mineral Resource Estimate
Kevin Smith, CEO of Gold Mountain Mining (TSX.V:GMTN – OTCQB:GMTNF), joins us to review the recently announced updated mineral resource estimate to over 1 million ounces of gold at the Company’s Elk Gold Project in British Columbia. The resource estimate at the Elk Gold Project now includes 806,000 oz of Measured & Indicated Resources at 5.8 g/t AuEq and 262,000 oz of Inferred resource at 5.4 g/t AuEq. The updated Resource Estimate represents a 24% increase of Measured and Indicated ounces and 65% increase of inferred ounces.
We also have Kevin provide a quick review of the streamlined mining operations and fixed contract costs to get ore shipped over New Gold’s New Afton processing center, without Gold Mountain Mining having to finance and construct a mill at this time. The revenues from production should begin in Q1 of 2022, and they will help fund the ongoing aggressive Phase 3 drill program and Phase 4 drill program, with a goal of drilling 30,000 meters next year.
Thus far most of the resource has been calculated from drilling at the Siwash North Zone, but there is ongoing drilling and assays are awaited from the Gold Creek Zone, Lake Zone, South Zone, and from the prospective new bulk tonnage discovery 10kms away at the Elusive Zone. In addition to the 25,000 meters the Company has drilled in Phase 1 and Phase 2, there have also been 15,000 meters relogged from the 127,000 meters of historic drill core that is adding ounces and helping define the geological understanding and new targets.
If you have any follow up questions for Kevin regarding Gold Mountain Mining, then please us at Fleck@kereport.com or Shad@kereport.com.
I may be wrong but…
I think I heard Powell endorse “commodities” today when he was asked about cryptocurrencies: I can’t quote him, but it seemed to me he was saying he did not endorse them as they were not back by anything.
It seemed to me he went on to say that he preferred things that had some form of intrinsic value without being backed by something.
Although he did not mention any specific examples, I immediately thought houses,cars, art work, coins, PMs, “commodities” etc….
Gold went up some and then got smashed again.
Not sure what he was thinking when he said it, but he said it. When do Fed speakers ever say anything that can’t be interpreted by their audience many ways if they didn’t mean it to be.
Futures up… no surprise
We all know The Mighty US dollar is backed by 000000000000000000000000000000000! It seems we are all being played and have been since Bretton Woods. Of course we also know that The Federal Reserve is in control of the money supply and they have our backs. 0000000000000000000000000000000! LOL! DT
Looks like private money and selective corporate interests calling the shots. The rest is show. Intervention in the markets is now defined as control of all components of the economy. Until we see people in jail, they own us.
Acquire residency in another country. Get cashed up. Move.
I would rather the evil doers go to jail … in essence ”they move”.
JP Morgan retains bearish bias for the prices for gold and silver during its latest forecast, projecting an average price of $1,630 per ounce for gold and $20.48 for silver in 2022.
I’m expecting a bounce in gold in first quarter and will evaluate taking cash off table and load up truck when gold falls to those levels after fed raises rates. Metal will get sold off heavily when fed actually raises rates and gold will be on fire sale next summer and then watch out into end year 2022 and all time highs in 2023 through 2025.