WestMountain Gold Delivers Heavy Equipment to the Terra Project for the Start of the 2013 Mining Season
May 02 2013 - 12:04PM
Business Wire
WestMountain Gold, Inc. (“WestMountain”) (OTCQB: WMTN), an
emerging mineral exploration and development company, today
announced that two D7 CAT bulldozers arrived at the Terra project
on April 14, 2013. Arrival of the two bulldozers was imperative to
plans for the 2013 Terra project operations and a milestone for
WestMountain. The construction of infrastructure, including a large
aircraft airstrip, a road network and a mine portal opening for
underground development is expected to start in May 2013. These
efforts will support the operation of the bulk sample milling and
mining and the continued expansion of the gold and silver resource
at the Ben Vein Zone.
After shipping up the Inland Passage, the equipment was
partially disassembled in Anchorage and walked into the cargo hold
of a Hercules C-130 for transport to a remote airstrip. The
aircraft was flown to the remote Farewell airstrip at the north end
of the Alaska Range where they were met by the machinery moving
crew. The machinery was reassembled and traveled sixty miles over
winter trail through the Alaska Range at a rate of less than two
miles per hour. The cross-country transport operation took seven
days with thanks to Jack Barber’s Alaska Air Taxi and its crew and
Lynden Air Cargo. The CAT Train was allowed under an Alaska
Department of Natural Resource Permit at this specific time of year
to minimize impact.
“The mobilization of this machinery over land across the Alaska
Range puts the Terra project in a position to move forward at an
accelerated pace,” said Greg Schifrin, President and CEO of
WestMountain. “Purchase, negotiation of equipment and services,
transportation logistics and permitting as well as experienced
personnel are all part of this success.”
“We are planning an aggressive 2013 field season with a scaled
up bulk sample program with our pilot mill which has the ability to
process 50 tons per day and our goal is to recover significant gold
this year,” Schifrin said.
Favorable results at the Terra Project following initial
production scale bulk sampling in late 2012 resulted in 75 ounces
of gold and 28 ounces of silver. Gold recovery was conducted at the
Terra project using the Company’s new pilot milling and gravity
recovery system, which yielded recoveries of 60% gold and 15% for
silver.
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
ounce of indicated and 369,795 ounces of inferred gold for a total
of 419,604 ounces of gold based on the NI 43-101 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.
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