Kevin Smith, CEO of Gold Mountain Mining (TSX.V:GMTN – OTCQB:GMTNF), joins us to discuss the recent company milestone of receiving its permits and mining the first mineralized material at the Company’s Elk Gold Project in BC. We review the simplicity in their mining operations and fixed contract costs to get ore shipped over New Gold’s New Afton processing center where they get a fixed 89% payable without having to finance and construct a mill at this time.
Next we discussed the ongoing exploration work at many areas of their property. The Company awaits drill assays from the Phase 2 drill program, which was expanded from 10,000 meters to 13,000 meters, with a goal of expanding their resources from 651,000 ounces to over 1 million ounces by the end of this year at their Siwash North zone. In addition the Company is also expanding drilling at the Gold Creek Zone, Lake Zone, South Zone, and may have a new bulk tonnage discovery 10kms away at the Elusive Zone.
If you have any follow up questions for Kevin regarding Gold Mountain Mining, then please us at Fleck@kereport.com or Shad@kereport.com.