WestMountain Gold 2012 Drilling at Terra Project Produces Multi-Ounce Gold Intercepts Along the 1.5km Ben Vein System
DENVER--(BUSINESS WIRE)-- WestMountain Gold, Inc. ("WestMountain") (OTCBB: WMTN), an exploration and development company, announces positive assay results from four diamond drill holes completed during the 2012 drilling program at its flagship Terra Gold Project in Alaska. Step-out drill holes were aimed at expanding the existing resource. An updated 43-101 is expected to be completed by December 31, 2012.
Greg Schifrin, WestMountain Gold CEO, states:
"The Terra Project continues to produce bonanza gold intercepts and we are confident that the resource will reach 1 million ounces. We are also enthusiastic about the positive assay results from the Camp Midway porphyry target and the completion of the construction of the on-site gold plant."
The drilling was undertaken from three drill pad locations, drilling into the hanging wall through the multiple vein structure. The four holes have extended the Ben Vein 200 meters north of the previous drilling conducted by WestMountain during the 2011 field season. Vein structures encountered in all drill holes and showed mineralization and associated carbonate and sericite alteration. Visible gold was recorded during core logging and confirmed in assay results. WGC-12-36 (-70° dip at 80° azimuth) was drilled 100m north of the 2011 drilling and encountered vein quartz carbonate veins with gold, arsenopyrite and pyrite in multiple zones. An additional hole was drilled 600 meters to the north on the Fish Vein structure. The entire 1.5km vein structure from the Ben Vein to the south to the Fish vein on the north has had 1st pass drill holes.
• 0.62m @ 21.55 g/t Au and 10.72 g/t Ag (122.38m - 123.0m) including 0.20m @ 61.00 g/t Au and 18.1 g/t Ag in drill hole WGC-12-36
• 0.81 m @ 84.24 g/t Au and 33.29 g/t Ag (129.54m - 130.35m) including 0.20m @ 338.00 g/t Au and 113.00 g/t Ag in drill hole WGC-12-36
• 1.0m @ 19.38 g/t Au and 10.65 g/t Ag (406.5m-407.5m) in drill hole WGC-12-36
• 0.4m @ 27.0 g/t Au (147.75m-18.15m) in drill hole WGC-12-37
• 1.3m @ 10.48 g/t Au and 28.08 g/t Ag (174.10m-175.40m) in drill hole WGC-12-37 including 0.30m @ 39.50 g/t gold and 115.00 g/t Ag
WGC-12-36 as well as the other drill holes had broad intervals of carbonate and sericitic alteration and greater than 0.5 g/t Au gold zones. These envelopes of alteration and low gold are target area's for further exploration for bonanza grade gold veins. WestMountain has retained Gustavson LLC of Lakewood, Co to model the veins at Terra in preparation for a NI-43-101 technical report to be completed by December 31, 2012.
The drill holes were logged and sampled on site with stringent a quality control regime that included the inclusion of standards and blanks in the sample stream.
Drill samples were collected from HQ core and sent from the project to ALS Global process facility in Anchorage. Gold assays were performed using ALS Chemex code "Au-AA24" using a 50 gram sample performing a fire assay - AA procedure. Over limit samples (greater than 10 grams Au/t) were assayed using "Au-GRA22" using a 50 gram nominal weight to fire assay.
Significant Terra Project Drill Assay Results
About WestMountain, Inc. / Terra Mining Corp
WestMountain Index Advisor, Inc./ DBA WestMountain Gold Corp (OTCBB: WMTN or the Company) is an exploration and development 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 greater than 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 223 square kilometers. 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.westmountaingold.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
KEYWORDS: United States North America Alaska Colorado
The article WestMountain Gold 2012 Drilling at Terra Project Produces Multi-Ounce Gold Intercepts Along the 1.5km Ben Vein System originally appeared on Fool.com.
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