Terra Project

Current Stock Quote For OTC QB :
WMTN 0.0202
0.0000 (0.00%)

Project Resources

Data Available: WestMountain has acquired historical surface and subsurface geochemical and geological databases including geological mapping, gold characterization study, and structural interpretations from AngloGold Ashanti and International Tower Hill Mines as well as the historical Kennecott Exploration surface geochemical data and geological map. The State of Alaska has airborne geophysical data over this area acquired in 2008, which has been interpreted by the Company’s geophysicist. In 2011 – 2012, historical drill data from the drill holes and data from rock, soil and stream sediment geochemical data collected were used to identify new areas with gold anomalies that are currently being explored by the company.

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2011 summer drill results:

(Intervals calculated using a 1 g/t gold cutoff grade, “Including” intervals use a 5 g/t gold cutoff grade)

Drill Hole From To Interval* Au Ag Vein Zone
  (metres) (metres) (metres) (g/t) (g/t)  
WGC-33-11 35.29 35.44 0.15 31.80 15.20 HW-3
  76.69 77.19 0.50 5.73 3.30 HW-2
including 76.69 76.89 0.20 12.05 6.30 HW-2
  104.84 105.97 1.13 2.23 4.09 HW-1
  139.06 139.90 0.84 7.42 69.39 Ben Vein 100m step out
including 139.59 139.90 0.31 15.60 138.00 Ben Vein
WGC-11-34 21.30 21.60 0.30 8.01 68.50 HW-3 lost hole at 67m
WGC-34B-11 111.04 111.40 0.36 35.70 174.00 HW-2
  115.40 117.95 2.55 6.12 28.75 HW-1
  120.00 125.60 5.60 8.15 69.69 Ben Vein 100m step out
including 121.60 125.00 3.40 11.60 106.50 Ben Vein
WGC-35-11 114.00 114.53 0.53 25.60 4.90 Ben Vein 200m step out

* Reported drill intercepts are not true widths. At this time, there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space.

2012 Summer Drill Results:

(Intervals calculated using a 1 g/t gold cutoff grade and maximum 0.5 m of internal waste)

Hole ID
From
To
Interval
Gold
Silver
Zone
 
(metres)
(metres)
(metres)
(g/t)
(g/t)
 
WGC-12-36
85.20
85.50
0.30
33.00
18.30
Ben Zone
 
122.38
123.00
0.62
21.55
10.72
 
129.54
130.35
0.81
84.24
28.35
 
181.00
181.50
0.50
5.72
1.40
 
192.53
193.00
0.47
11.10
2.20
 
406.5
407.50
1.00
19.38
10.65
WGC-12-37
147.75
148.15
0.40
27.00
17.90
 
174.1
175.40
1.30
10.48
28.08
WGC-12-38
55.50
56.50
1.00
3.10
1.40
 
70.70
71.00
0.30
4.26
3.20
 
272.00
273.00
1.00
5.58
5.00
 
288.00
288.50
0.50
8.49
1.20
WGC-12-39
64.50
66.00
1.50
2.23
1.97
Fish Zone

* Reported drill intercepts are not true widths. At this time, there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space.

Mineral Resources

Inferred Resources within the Ben Vein (within a 1.0 g/t Au Shell)

Inferred Resources within the Ben Vein (within a 1.0 g/t Au Shell)

Au Cutoff Tonnes > Cutoff Grade  > Cutoff Contained Metals
(g/t) (tonnes) Au (g/t) Ag (g/t) Au (oz) Ag (oz)
5.00 428,000 12.20 23.11 168,000 318,000
6.00 402,000 12.64 24.02 163,000 310,000
7.00 383,000 12.95 24.72 159,000 304,000
8.00 364,000 13.22 25.33 155,000 296,000
9.00 335,000 13.63 26.50 147,000 285,000
10.00 282,000 14.22 27.97 134,000 263,000

* Calculated as at June 15, 2010 by Mr. G. Giroux of Giroux Consultants Ltd in the Report titled "Summary Report On The Terra Gold Project, McGrath District , Alaska."  The above resource table tabulates the resources to the limits of the 1.0 g/t Au shell or envelope around Ben's Vein.

Production Summary

During the 2012 Alaska summer mining season, WestMountain Gold, INC.  completed the installation of a two (2) tonne per hour onsite mill.  The mill ran a total of 23 tonnes of bulk sample material from the Ben and Fish Creek veins yielding a total of 75.1 ounces of gold and 28.2 ounces of silver.  The results indicate recoveries of 60% for gold and 15% for silver through a gravity recovery system.  As per the joint venture agreement and based on USD 1,700 per ounce gold price, Corvus is to receive 52% of the gold production at no cost until WestMountain Gold, INC.  has earned into the project.   WestMountain Gold, INC.  has indicated their intention to focus on a larger bulk sample during the next Alaska summer mining season.

 

 

Safe Harbor for Forward-looking Statements

 Certain statements contained herein are not statements of historical fact and constitute forward-looking statements.  These statements include specifically identified forward-looking statements herein. Examples of forward-looking statements, include: (i) projections of revenues, income or loss, earnings or loss per share, the payment or non-payment of dividends, capital structure, and other financial items; (ii) statements of plans and objectives of the Company, or any of its management or Boards of Directors; (iii) statements of future economic performance; and (iv) statements of assumptions underlying those statements. Words such as "believes," "anticipates," "expects," "intends," "targeted," "may," "will" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

 Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include: (i) the strength of foreign and U.S. economies in general and the strength of the local economies in which operations are conducted; (ii) the ability of the Company to finance its planned operations; (iii) the ability of the Company to hire and retain key personnel, (iv) the ability of the Company to maintain its Joint Venture Agreement and Amended Claim Agreement; (v) the ability of the Company to compete with financially stronger competitors; (vi) the effects of and changes in trade, monetary and fiscal policies and laws; (vii) inflation, interest rates, market and monetary fluctuations and volatility; (viii) the timely development of and acceptance of new products and perceived overall value of these products by existing and potential customers; (ix)  the ability to control expenses; (x) the effect of changes in laws and regulations with which the Company must comply; (xi) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as the Financial Accounting Standards Board; (xii) changes in the organization and compensation plans of the Company; (xiii) the costs and effects of litigation and of unexpected or adverse outcomes in litigation; and (xiv) the success of the Company at managing the above risks.