Gold Mountain gets nod to build mine in BC
(Kitco News) - Gold Mountain Mining (TSX.V:GMTN, OTCQB:GMTNF) announced Friday that it has received its Notice of Departure ("NoD") to begin mine construction at its 100% owned Elk gold project located near Merritt, BC, under Gold Mountain's existing M-199 mine permit.
Gold Mountain said that this milestone is in line with the company's Q2 forecast and is a major catalyst to preparing the site for ore mining and delivery.
According to the company’s statement, following the issuance of the NoD, Nhwelmen-Lake LP, the company's mining partners, will begin mobilizing the equipment needed to begin constructing roads, a site offices, support facilities and upgrading the projects water management system.
The company said it anticipates construction to begin in May 2021 with the first ore delivery expected in Q4 2021.
Gold Mountain Mining is a BC based exploration and development company focused on the Elk gold project, a past producing mine located approximately 57 km from Merritt, BC. The proposed multi-phase production plan will see a Phase 1 – 19,000 oz production profile beginning in Q4 2021, which will fund the proposed ramp up to 50,000 oz by 2025.