WestMountain Produces Gold at the Terra Project
WestMountain Produces Gold at the Terra Project
DENVER--(BUSINESS WIRE)-- WestMountain Gold, Inc. ("WestMountain") (OTCBB:WMTN), an exploration and development company, today reports that the pilot plant is now operational and has begun processing bulk sample. The bulk sample collected this season was from the Ben and Fish veins at the Terra Project in Alaska. The Terra Project "Ben" vein system has over 1 mile surface exposures. Over 20 tons of ore were processed and concentrated minerals from the multi ounce high grade vein outcropping was successfully recovered by the plant, including substantial visible gold.
This gold concentrate is being sent to a refinery to quantify the bulk samples' total gold contents and average grades.
The concentrates will be shipped to Essential Metals Corp in Kellogg, Idaho, for assaying, advanced metallurgical testing and refining. Previous metallurgical testing included crush and grind optimization. The upcoming tests will include recommendation on how to process and refine the ore most efficiently.
Greg Schifrin, President and CEO, stated, "We are pleased to announce the accomplishment and set up of our 20 ton per day pilot plant at Terra. The bulk sampling and processing of many tons of mineralized vein material will provide a large scale representative sample of the gold grades of this deposit. We believe the bulk sample is a better representation than core drilling, where the nugget effect occurs within these high grade vein deposits which may not be identified in the drill core. We follow the age old adage drill for structure and drift for grade."
Proceeds from the sale of gold recovered from the bulk sample will be split by WestMountain (51%) and Corvus (49%) after royalty payments, according to the Terms of the JV Agreement.
About WestMountain, Inc. / Terra Mining Corporation
WestMountain Index Advisor, Inc. / DBA WestMountain Gold Corp (OTCBB: WMTN or the Company) is an exploration and development stage company that explores, acquires, and develops advanced stage properties.The Company has a high-grade gold system in the resource definition phase with 168,000 oz. of inferred gold which in total offers potential of 1,000,000 ounces that is owned by the Company's wholly owned subsidiary, Terra Gold Corporation ("TGC"). The WestMountain property consists of 344 Alaska state mining claims covering approximately 85 square miles. All Government permits and reclamation plans for continued exploration through 2014 were renewed in 2010.
TGC is a joint venture partner of Corvus Gold, Inc. ("Corvus") on this project. TGC has the right to earn a 51% interest in the Terra Project from Corvus by spending a total of USD $6.0M by December 31, 2013. TGC can further increase its ownership to 80% with an additional USD $3.05M investment bringing to a total of USD $9.05M capital investment by December 31, 2014. Additional details are available at www.terraminingcorp.com.
Safe Harbor Statement Some statements contained in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements may contain words such as "desires," "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause its actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, projections of gold reserves, assay results, plans to raise capital, expand the board, strengthen management and governance and develop gold projects. Additional information regarding factors that could cause results to differ materially from management's expectations is found in the Company's SEC filings. The Company intends that the forward-looking statements contained herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements. The Company disclaims any obligation to update forward-looking statements.
WestMountain Index Advisor, Inc.
Chief Executive Officer
Greg Schifrin, 208-265-1717
KEYWORDS: United States North America Alaska Colorado
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