TSX-V TRADING SYMBOL: GUM
Website: aumtn.com
VANCOUVER,
Jan. 9, 2013 /CNW/ - Gold Mountain
Mining Corporation (the "Company" or "Gold Mountain") has completed
a 13,410 meter drill program on its 100% owned Elk Gold property,
located near Merritt, British
Columbia. The exploration camp supported two target areas
for diamond drilling during the 2012 exploration program.
The first area of focus for the drill program
was to test the western extension of the historic Siwash North pit.
In-fill drilling was completed along the 350 meter western step out
between the existing open pit and 2011 drill hole SND11-123 which
intersected a pyritic quartz vein, grading 30.4 g/t gold and 56.2
g/t silver over a core length of 0.39 meters. The 2012 drill
results confirm mineralization in the western extension of the
vein.
A second group of regional drill targets for the
2012 program included four of the nine prospective zones on the Elk
property. Targets were identified based on the promising results of
the Titan 24 survey, Pole-Dipole IP survey and the drill results
from 2010 and 2011. Regional drilling was designed to extend both
the strike length and depth of the high priority regional gold
bearing structures identified in the 2010 and 2011 drilling
program, including Lake Zone, Discovery and the South Showing. (see
map attached)
2012 drilling in the South Showing focused on
the expansion of a mineralized silica breccia. Starting from near
surface, the 2011 drilling identified a breccia with widths of up
to 47.7m and gold grades of 0.7g/t over the entire 47.7m,
including intervals of 45cm at 14.2g/t, 39cm at 7.9g/t, 27cm at
18.6g/t, 24cm at 25.7g/t and 20cm at 6.7g/t. This mineralization is
unlike the zones further north which carry gold primarily in
pyritic quartz veins. The mineralized breccia opens new
possibilities in the South Showing for a large volume, lower grade
gold deposit. As a result, additional IP over the southern area is
being planned for 2013.
Assay results from 2012 drilling have been
received and are being compiled. Results will be released upon
completion of analysis.
As part of the ongoing exploration program,
prospecting new areas on the property continues. During the field
season a number of interesting outcrops were sampled. One grab
sample of particular interest was taken from a location three
kilometers southwest of the South Showing mineralized breccia and
yielded assay results of 7.36% copper, 226 g/t silver, 0.24% zinc
and 0.38% lead. Gold Mountain's 2013 exploration program will plan
for additional soil sampling and geophysical work in these new
prospective areas.
The Company's Senior Geologist, Robert Wilson, P.Geo., 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 Company is pleased to announce that it has
retained the services of Mr. Greg
Werbowski as our investor relations consultant. Mr.Werbowski
has over 12 years of investor relations services experience for
several public companies listed both in Canada and the
United States. Prior to entering the investor relations
field Mr.Werbowski was an investment advisor with a Canadian
brokerage house.
Mr.Werbowski will be responsible for all
shareholder and investment advisor relationship activities.
Mr.Werbowski will be paid $2500.00
per month. The agreement, effective January 01, 2013, is on a month to month
basis.
About Gold Mountain Mining
Gold Mountain is a 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 the
Company 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 on Sedar.com or on the Company's 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
Image with caption: "Elk Property 2012 Drill Program Collar
& Zone Locations (CNW Group/Gold Mountain Mining Corporation)".
Image available at:
http://photos.newswire.ca/images/download/20130109_C4757_PHOTO_EN_22370.jpg