DENVER -- (BUSINESS WIRE) --
WestMountain Gold, Inc. (“WestMountain”) (OTCQB: WMTN), an emerging mineral exploration and development company, reports that bulk sampling at the Terra project in Alaska is progressing as planned. The 2013 mill upgrade is complete and ore is being processed. Assays received from ALS Chemex on samples taken from the Ben Vein open cut level are presented as weight averaged sums of the widths of the samples taken:
Level Au g/t Au oz/t Ag g/t Ag oz/t
1338 236.68 7.61 520.17 16.72
1336 335.70 10.79 623.41 20.04
Levels 1338, 1336, & 1334 have been mined and the material moved to the bulk sample mill for processing.
In addition to the bulk sampling program at Terra, road construction from camp to the Ben Vein is complete, exploration drilling is on-going, and surface prep construction of the underground mine portal is underway. A new runway is near complete and the site now has a 5,000 foot runway for larger aircraft.
“Bulk sample production at Terra is an important milestone in the development of this project, which we believe will exceed a million ounces of gold over the life of the mine,” said Greg Schifrin, President and CEO of WestMountain Gold. “We have advanced the project and reached our marks this field season with hard work from our staff and support personnel.”
About WestMountain Gold, Inc.
WestMountain Gold, Inc. (OTCQB: WMTN) is an exploration and development company that explores, acquires, and develops advanced stage properties. The Company has rights to a joint venture in a high-grade gold system in the resource definition phase with 49,809 ounces of indicated and 369,795 ounces of inferred gold for a total of 419,604 ounces of gold based on the Geologic Technical Report completed by Gustavson Associates on February 19, 2013. This high-grade gold system 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 $6.0 million by December 31, 2013. TGC can further increase its ownership to 80% with an additional USD $3.05 million investment, bringing to a total of USD $9.05 million 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, the potential of the Terra Project, gold recovery, indicated and inferred resources, and expectations to run milling operations at 50 tonnes per day. 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.
Contacts
WestMountain Gold, Inc.
Greg Schifrin, Chief Executive Officer
Office: 208-265-1717
Cell: 208-290-1180
gschifrin@westmountaingold.com
