“Receiving this Notice of Departure allows us to take the critical steps of upgrading our existing water management system, installing a weigh scale, as well as leveraging a gravel borrow to start stripping waste from our initial pit and repurpose it into aggregate needed to resurface roads throughout the property,” Kevin Smith, CEO of Gold Mountain said in a media statement.
Previous drilling confirms that the Elk Gold Project hosts multiple gold mineralized zones within the 16,716 hectare property boundary, the company said. The project is a mesothermal, intrusive-related, gold vein system. The Siwash North Mineral Resource zone includes pit constrained Measured & Indicated 454,000 oz AuEq and Inferred 95,000 oz AuEq.
Midday Monday, Gold Mountain’s stock was down nearly 3% on the TSXV. The company has a C$152 million market capitalization.
