Drilling at Ben Vein Intersects 3.4m @ 11.6 g/t Gold at Terra Project, Alaska
DENVER--()--WestMountain Index Advisor, Inc. (“WestMountain”) (OTCBB:WMTN), an exploration and development company, today reported results from four diamond drill holes completed during the 2011 drilling program at its flagship Terra Gold Project in Alaska. These drill holes were step-out holes aimed at expanding the existing resource of 168,000 ounces of gold and 318,000 ounces of silver in an inferred category (428,000t @ 12.2 g/t Au and 23.1 g/t Ag at a 5 g/t Au cutoff). The 2012 field season will include drilling, engineering for underground development, and cash flow from the bulk sample mill that is located on site. In addition, the company will pursue surface exploration for porphyry mineralization on the property.
“We are excited that the drilling has identified the extension of the Ben Vein zone that was the goal for this season’s drilling”
- 3.4m @ 11.6 g/t gold and 106.5 g/t Ag (121.6m – 125.0m) including 0.35m @ 42.00 g/t Au and 445 g/t Ag in drill hole WGC-11-34B drilled 100 m north of prior drilling.
- 2.55m @ 6.12 g/t gold and 28.75 g/t Ag (115.52m – 117.95m) in drill hole WGC-11-34B. Additionally there was 0.30m @ 8.01 g/t gold and 68.5 g/t Ag at 115.2m.
- 0.15m @ 31.8 g/t gold, 0.2m @ 12.05 g/t gold and 0.31m @ 15.6 g/t gold intervals in drill hole WGC-11-33.
- 0.53m @ 25.6 g/t gold from 114.0m – 114.53m in drill hole WGC-11-35.
Four holes were drilled off two drill pads and have extended the Ben Vein 200 meters north of drilling formerly conducted by AngloGold Ashanti and International Tower Hill Mines. WGC-11-34B (-70 degree dip at 90 degree azimuth) encountered vein quartz carbonate veins with arsenopyrite and pyrite in two zones from 115.52-117.95 meters and 121.60-125.00 meters. The lower zone had the distinctive sericite alteration of the Ben Vein zone. Drill hole WGC-11-34 was drilled to 80m and lost, WGC-11-34B is the redrill of hole 34. Drill hole WGC-11-33 was drilled at -50 degree dip at an azimuth of 90 degrees from the same location as WGC-11-34B. Quartz carbonate veins with arsenopyrite and pyrite was encountered in drill hole WGC-11-33.
Drill hole WGC-11-35 was drilled 100 meters north of WGC-11-34B and WGC-11-33. The drill hole encountered quartz carbonate veins with arsenopyrite and pyrite, and the distinctive sericite alteration of the Ben Vein zone was encountered at 114.00m. The drill hole was logged and sampled on site with stringent quality control regime that included the inclusion of standards and blanks in the sample stream.
Drill samples were collected from HQ core and sent from the project to ALS Chemex process facility in Fairbanks and the newly opened facility in Anchorage. Gold assays were performed using ALS Chemex code “Au-AA24” using a 50 gram sample performing a fire assay – AA procedure. Over limit samples (greater than 10 grams Au/t) were assayed using “Au-GRA22” using a 50 gram nominal weight to fire assay.
“We are excited that the drilling has identified the extension of the Ben Vein zone that was the goal for this season’s drilling,” said Greg Schifrin, CEO.
(Intervals calculated using a 1 g/t gold cutoff grade, Including uses a 5 g/t gold cutoff grade)
|Drill Hole||From||To||Interval||Au||Ag||Vein Zone|
Ben Vein – 100m step out
|WGC-11-34||21.30||21.60||0.30||8.01||68.5||HW-3 lost hole at 67m|
Ben Vein – 100m step out
Ben Vein – 200m step out
About WestMountain, Inc. / Terra Mining Corporation
WestMountain / Terra Mining Corporation is an exploration and development company that explores, acquires, and develops advanced stage properties. TMC has a high-grade gold system in the resource definition phase with 168,000 oz. of inferred gold, which in total offers potential of greater than 1.0 million ounces. The property consists of 295 Alaska state mining claims covering approximately 205 square kilometers. All Government permits and reclamation plans for continued exploration through 2014 were renewed in 2010. Additional details are available at www.terraminingcorp.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, projections of gold reserves, assay results, plans to raise capital, expand the board, strengthen management and governance, and develop gold projects. 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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