Gold Mountain acquired Bayshore Minerals in September 2020, with 100% ownership of the Elk Gold Project in the Merritt area of British Columbia, Canada. The Company has a strong treasury and is fully funded to execute on its growth objectives and rapidly achieve its vision of becoming a million-ounce company.
With a strong mix of Capital Markets, Mine Builders and Operators, the Gold Mountain team is well positioned to transition The Elk Gold Project from development into production. The team will continue to focus on expanding both the resource and revenue opportunities with a goal of continuing to reward loyal, long term shareholders.
- Following the extended provincial review and approval of New Gold's custom milling permit, the Company is now positioned to deliver high-grade ore to accommodate its Year 1 production profile.
- The material was mined from the 1300 vein near historic Pit 2, which was last mined from 2012 to 2014 at an average grade of 16.7 g/t.
- This initial delivery marks the Company's transition into cash-flow and revenue generation.
- Under the terms of the Ore Purchase Agreement with New Gold, the Company will be paid on a monthly basis for all ore delivered.
- Ownership of ore transfers to New Gold upon delivery, eliminating all risks of recovery for Gold Mountain.
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