Gold Mountain Mining Corp: Gold Mountain Updates Mineral Resource Estimate at the Elk Gold Property
VANCOUVER, BC / ACCESSWIRE / May 14, 2021 / Gold Mountain Mining Corp. ( Gold Mountain or the Company ) (TSX.V:GMTN, OTCQB:GMTNF, Frankfurt: 5XFA) is pleased to announce an updated National Instrument 43-101 Mineral Resource Estimate following the conclusion of its Phase1 drill program at the Elk Gold Project. An updated technical report will be filed on the Company s website and SEDAR within 45 calendar days of this disclosure.
Highlights:
Gold Mountain increases its resource estimate at its flagship Elk Gold Project to:
651,000 oz of Measured & Indicated Resources at 6.1 g/t Au and 159,000 oz of Inferred resource at 4.8 g/t Au.
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Gold Prices Maintain Traction as Economies Begin Recovery
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NEW YORK, May 14, 2021 /PRNewswire/ Gold prices breached the USD 1,800 mark earlier this month, for the first time since February. Despite the recovering economy and lower number of COVID-19 cases in the U.S., the government is still injecting liquidity into the financial system, as fiscal and monetary stimuli are being implemented. These measures, which are meant to help bring the economy back to pre-pandemic highs, have consequences, specifically the devaluation of the dollar and inflation. In a report by Kitco, Gary Wagner, editor of TheGoldForecast.com, explained that he believes that we will see a new all-time record high in gold. I m not optimistic as to believe it will happen, let s say, over the next four months. However, I think it s highly likely, based on certain parameters, that we do test $1,900 once again, and that could be over the
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Recent Company Highlights:
Recent operational excellence programs at the San Martin mine in Queretaro, Mexico has set the company up for success in 2021: We continue to show excellent cash flow from our mining operations and report our second quarter of $0.03 per share earnings bringing us to $0.06 per share for the 6 month period reported Robert Eadie, CEO and President of the Company. We expect this trend to continue into the new year as we continue to develop the mine to deliver consistent productio