ELK GOLD MINE
A Past Producing Mine with strong growth profile
Gold Mountain acquired Bayshore Minerals in September 2020, with 100% ownership of the Elk Gold Project in the Merritt area of British Columbia, Canada. The Company has a strong treasury and is fully funded to execute on its growth objectives. Gold Mountain is on target to develop the Elk Gold Project into a million ounce producer.
PROPERTY
- Gold Mountain Mining (TSX.V: GMTN) owns 100% interest of the Elk Gold Project in the Merritt area of British Columbia Canada
- 2 km from all-season highway and the Elkhart Lodge – commercial card lock gas station, diner, motel
- Elk Gold Property is a massive 16,716 hectares (41,306 acres) land package
- The Elk Gold Project is a past producing High Grade Gold Mine
- 135,808m of historic drilling, extensive geochem and geophysics programs
RESOURCE / PEA
- NI 43-101 mineral resource:
- Measure and Indicated – 651,000 AuEq ounces*
- Inferred – 159,000 AuEq Ounces*
- PEA contemplates a 65,000 ounce per year mine plan by Year 4*
- PEA results in a Post-Tax NPV of $231M*
- Low Op Ex / Cap Ex*
- CA$9.0M start up CapEx
- AISC US$554/oz
EXPLORATION
- Phase 1 (Jan ‘21 – April ‘21) successfully added over 260,000 ounces to the resource at an average discovery cost of $8 per ounce
- The company hit mineralization in all 41 drill holes with grades reaching 124 g/t while further extending the Siwash vein systems
- Phase 2 (May ‘21 – Aug ‘21) 10,000m drill program to expand to the Siwash North zone and expand the Gold Creek and Elusive Zone
- Company plans to continue targeting high grade extensions to the Siwash deposit while uncovering new intercepts in satellite areas
- Phase 3 (and beyond) 6 Additional high grade targets with significant expansion potential showing similar geological attributes as Siwash North
- Additional soil and geochemical anomalies beyond the 6 identified zones which inherit untapped discovery potential
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MINERAL EXPLORATION IN CENTRAL BRITISH COLUMBIA
A Past Producing Mine with strong growth profile
Gold Mountain acquired Bayshore Minerals in September 2020, with 100% ownership of the Elk Gold Project in the Merritt area of British Columbia, Canada. The Company has a strong treasury and is fully funded to execute on its growth objectives. Gold Mountain is on target to develop the Elk Gold Project into a million ounce producer.
PROPERTY
- Gold Mountain Mining (TSX.V: GMTN) owns 100% interest of the Elk Gold Project in the Merritt area of British Columbia Canada
- 2 km from all-season highway and the Elkhart Lodge – commercial card lock gas station, diner, motel
- Elk Gold Property is a massive 16,716 hectares (41,306 acres) land package
- The Elk Gold Project is a past producing High Grade Gold Mine
- 135,808m of historic drilling, extensive geochem and geophysics programs
RESOURCE / PEA
- NI 43-101 mineral resource:
- Measure and Indicated – 651,000 AuEq ounces*
- Inferred – 159,000 AuEq Ounces*
- PEA contemplates a 65,000 ounce per year mine plan by Year 4*
- PEA results in a Post-Tax NPV of $231M*
- Low Op Ex / Cap Ex*
- CA$9.0M start up CapEx
- AISC US$554/oz
EXPLORATION
- Phase 1 (Jan ‘21 – April ‘21) successfully added over 260,000 ounces to the resource at an average discovery cost of $8 per ounce
- The company hit mineralization in all 41 drill holes with grades reaching 124 g/t while further extending the Siwash vein systems
- Phase 2 (May ‘21 – Aug ‘21) 10,000m drill program to expand to the Siwash North zone and expand the Gold Creek and Elusive Zone
- Company plans to continue targeting high grade extensions to the Siwash deposit while uncovering new intercepts in satellite areas
- Phase 3 (and beyond) 6 Additional high grade targets with significant expansion potential showing similar geological attributes as Siwash North
- Additional soil and geochemical anomalies beyond the 6 identified zones which inherit untapped discovery potential
OverviewSnapshotMineral ResourcesImage Gallery
- Overview
- Snapshot
- Mineral Resources
- Image Gallery
LOCATION
- Located between Kelowna and Merritt BC
- Commuting distance – No camp required
- 2km off all season highway and the Elkhart Lodge – future commercial cardlock gas station, diner and motel.
READY TO EXPAND
- Siwash North zone resource estimate
- Successful Phase 1 drill program and now transitioning to phase 2
- Eight other zones all showing similar grades and structure
- 16,716 Hectare Land Package
TURN KEY OPERATION
- 2 established pits with high grade mineralization at near surface and at depth
- Ore stockpile pad
- Water management infrastructure in place
- 127,069m of historic drilling ($30m to replace)
GEOLOGY – REGIONAL OVERVIEW
The Elk Gold Project is host to a gold-bearing mesothermal quartz + sulphide vein deposit.
High grade gold veins hosted by intrusive and volcanic rocks.
Gold mineralization occurs within structurally controlled pyritic quartz veins.
The mineralized veins strike east-west and occur along the discontinuity between the Nicola volcanic group and the Osprey Lake Batholith.
GOLD MINERALIZATION AT THE ELK GOLD PROJECT
Previous drilling confirms that the Elk Gold Project hosts multiple gold mineralized zones within the 16,716 hectare property boundary. The Elk Gold is a mesothermal, intrusive related, gold vein system.
Gold occurs in pyritic quartz veins along with minor base metals. Quartz veins occur in fractures and shears within a granitic intrusion.
Siwash North includes a total mineral resource of 651,000 oz of Measured & Indicated and 159,000 oz of Inferred.
The results from the preliminary economic assessment are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized
AISC (All in Sustaining Cost) = (LOM Owner’s Costs + LOM Capital Costs + LOM Operating Costs) / Gold Ounces Produced
For further details on the assumptions and parameters used for the Elk Gold Project economics, please see the “Updated Preliminary Economic Assessment” link below
| July 2021 | Updated Preliminary Economic Assessment |
|---|---|
| June 2021 | Elk Gold 2021 - Phase 1/2 - Drill Hole Collar Locations |
| June 2021 | Elk Gold 2021 - Phase 1/2 - Exploration Results |