TSX-V TRADING SYMBOL: GUM
Website: aumtn.com
VANCOUVER, Feb. 17, 2014 /CNW/ - Gold Mountain Mining
Corporation (the "Company" or "Gold Mountain") has completed
analysis of the 2013 exploration program on its 100% owned Elk Gold
property, located near Merritt, British
Columbia.
Drilling occurred on several deep IP anomalies south of the
existing bulk sample pit. The targets were chosen based on the IP
anomalies from 2010 through 2012 IP surveys plus the Titan IP
survey anomalies identified in 2011. A third party, testing a
prototype percussion rig completed all the drilling at no cost to
the company. This drilling provided valuable data for future
planning purposes.
Two holes (SLH13-003 & SLH13-004) tested the Siwash North
1300 vein 50m further down dip than previously to a maximum depth
of 330m. Both holes returned anomalous gold values up to 4
g/t over 3m showing the significant depth extent of the 1300 vein.
Because of the friable nature of the mineralized zones the
percussion drilling may tend to smear results. The drilling
confirms the 1300 vein remains open at depths in excess of 330m.
One of the holes was drilled beyond the vein to a depth of 500m to
test a deep Titan 24 resistivity anomaly. The drill hole
encountered two mafic dykes rimmed with anomalous gold. A
wedge core hole testing these two dykes will be considered for
future programs.
A drill hole within South Showing (SSH13-001) to test a large
resistivity low was stopped in a fault zone thought to be the
source of the anomaly. Above the fault the hole encountered the
silica breccia intersected in 2011 and 2012 drilling that had
widths of up to 47.7m and gold grades of 0.7g/t over the entire
47.7m. The breccia was intersected 15m further down dip than
previously drilled and found to carry anomalous gold of 0.17 g/t
over a 12m width and is a target for future core drilling. This
mineralized breccia is unlike the zones further north which carry
gold primarily in pyritic quartz veins and has the possibility for
a large volume, lower grade gold deposit.
Lake Zone drilling (SLH13-002) tested a Titan 24 resistivity
high anomaly at 500m depth, as well as the known gold quartz veins
nearer to surface. The near surface vein contained elevated gold
assays of 1.15 g/t across 10m is the western and 100m down dip
extension of a new vein discovered in 2012 drill hole SLD12-209
that intersected 43.5 g/t Au across 0.33m. Silica content increased
within the deep resistivity zone, samples of which had anomalous
gold assays 0.25 g/t across 9m.
Geologic mapping and soil/rock chip sampling was
performed on the property's southern claims where a mineralized
zone discovered in 2012 yielded grab sample assay results of 7.36%
copper, 226 g/t silver, 0.24% zinc and 0.38% lead. The recent
prospecting and sampling discovered a second mineralized zone 175m
to the SE that assayed 6.3% Zn, 1.8% Pb and 12.1 g/t Ag across
30cm. A second sample 20m north assayed 0.11% Zn, 0.37% Pb and 368
g/t Ag. Continued evaluations of this new style of mineralization
will occur as conditions permit.
Mapping east of South Showing located quartz
float within the overburden suggesting the South Showing veining
continues to the east beyond the most easterly 2012 drill
section. Additional prospecting and mapping is planned for
this area.
A map displaying the locations of drill holes and other zones
may be found on the company's website.
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.
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