WestMountain Gold Delivers Heavy Equipment to the Terra Project for the Start of the 2013 Mining Sea
May 2nd 2013 12:20PM
Updated May 2nd 2013 1:30PM
WestMountain Gold Delivers Heavy Equipment to the Terra Project for the Start of the 2013 Mining Season
DENVER--(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.
WestMountain Gold, Inc.
Chief Executive Officer
KEYWORDS: United States North America Alaska Colorado
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