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Gold Mountain (TSX-V: GMTN)(OTCQB: GMTNF) CEO Kevin Smith on Mining & Hitting High-Grade at Elk Gold Project
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Gold Mountain Mining. Mr. Kevin Smith. Kevin, how are you today?
Kevin Smith: I'm doing really well Gerardo, thanks for having me.
Gerardo Del Real: Well, listen, first and foremost, I have to ask you, and I asked a bit off air, but I'd love to give everybody an update. How are things on site with your staff, with everyone around, friends and family, is everything okay, I know that the storms recently have been just absolutely nuts, right?
Kevin Smith: Yeah, absolutely. So the highways down like connect to the lower mainland and those are in pretty rough shape. And I think the province is still doing their due diligence on it, but everybody's safe and sound at site. Site's still moving forward. We had a few guys yesterday who took off to help families evacuate, which is obviously understandable, but things are running back up at full tilt today. So thank goodness no one was hurt to our knowledge so far and yeah, just looked to keep pushing forward and figure out how to get up there from the lower mainland.
Gerardo Del Real: Well, listen, let's talk positive news. You not only mined your first mineralized material at Elk, congratulations on that front, but you just announced some additional high grade intercepts in your phase two drill program. The numbers are solid. 1.30 meters grading 10.59 grams per tonne gold, 1.10 meters grading 17.54 grams per tonne gold, and 0.90 meters grading 14.59 grams per tonne gold, among other intercepts, you've been very vocal and again, you should be commended because you've delivered on all your deliverables this year. You've been very vocal about wanting to get that resource past a million ounces, these results obviously bode well for that, can you give us an update on the drilling?
Kevin Smith: Yeah, absolutely. So, I mean, these are just the first results that have trickled in from the labs. They've been a little slower than they were last drill program, but that's okay. We've been busy on the production front too, but this is great. This is infilling and step out right close to our resources in Siwash North, this is definitely going to add more ounces. That was the goal of these drill holes and yeah, we're pushing hard to get all this data in, update the geological model and, and get that resource update out to the market before the end of the year as you know, that was one of my commitments to shareholders.
So still pushing the pace, still lots more drill results to come in, not just from the Siwash North Zone, but we've also got some drilling that we've done in the Gold Creek in the lake in the south. Have to see how those come back. But based on the visual core, I'm thinking we could probably be delineating some new resources there as well if that goes as planned. And then we're also just finishing up phase two out in the Elusive Zone and we've got some phenomenal core coming out of the ground there. So really excited to see that stuff that comes from the lab.
Gerardo Del Real: You increased the phase two meterage by 30%, from 10,000 meters to 13,000 meters. How's the treasury looking?
Kevin Smith: Treasury's looking strong. We finished October, which was a quarter end for us with just shy at 10 million dollars in the bank. We've got one more expensive month of construction, and then we drop down to steady state mining, which would kick off our first revenues. And then we've got lots of money for phase three. So still laying the hammer down. We'll push full force. There'll be no break between phase two and phase three. And then yeah, obviously on the production front, we'll be busy there as well.
Gerardo Del Real: You're drilling, you're cashed up. You're producing a lot to like, a lot to look forward to, again, congrats on all the deliverables this year. It's been a heck of a 2021 and I think 2022 is going to be a banner a year for the gold price. Anything to add to that Kevin?
Kevin Smith: Yeah, 2021's not done yet. So save a few spots for, I think we'll have some more key updates for you, but yeah, definitely looking to carry that momentum into 2022.
Gerardo Del Real: Love it. Looking forward to it. Open door policy for you guys anytime. Thanks again.
Kevin Smith: All right. Thanks Gerardo.
Gerardo Del Real: All right. Chat soon.
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