$WMTN - Terra Mining Corporation is located between the

New Post Public Reply Private Reply Replies (0) Message Board
Depcom
$WMTN - Terra Mining Corporation is located between the Revelation and Terra Cotta Mountains in the southwestern Alaska Range. Terra Mining Property consists of 344 Alaska State Mining claims expanding approximately 130 square kilometers. They have identified four vein zones with high-grade gold mineralization. Below is the detailed 2010 NI 43-101 Report. Also included, a brief Project Summary of the NI 43-101 Report. Highlights: NI 43-101 Technical Reports updated 2010 (TSX compliant) 168,000 oz gold, 310,000 oz silver (ITH NI 43-101) Gold rich Bonanza Veins (>75% free gold) Advanced project with operational revenue model in detailed proforma Project potential to 1 million oz gold Development Plan, Environmental Assessment and Permitting, in progress Significant exploration potential for additional resource Accredited management and directorship with proven track records Closely held capital structure Project ownership structure -post earnin (TGC 80% ,Corvus Gold 20%) Mine friendly State Extended vein along strike and Intersected vein systems - 2011 drilling 594 meters core drilling – 4 holes completed 375 samples taken from drill core* Visible gold observed in core Vein system is undrilled; extending to the north and in downward projection to the vein below 300 meters Moving Forward: Identification of additional high grade veins within the structural zone to increase potential gold resources to over one million ounce potential Upgrade and increase the ITH NI 43-101 inferred 168,000 oz gold resource and advance project to a measured and indicated resource 2012 bulk sampling program with anticipated revenues from gold production Exploration for bulk mineable intrusive deposits Cash flow through bulk sampling converting to 30,000 per ounce gold per year small mine operation Target Type: High-grade gold system, Resource Definition Phase, Bulk Sampling Cash Flow. History: Outcropping gold veins were first discovered at Terra in the late 1990s by Kennecott Exploration, who transferred ownership of 5 State of Alaska claims (800 acres) to one individual. AngloGold Ashanti Exploration (U.S.A.) Inc. acquired 100% of the Terra project in 2005 and conducted initial drill testing which returned encouraging results. ITH acquired the project in 2006 as part of a take-over of the AngloGold exploration assets in Alaska. The drilling conducted by ITH in 2006 and 2007 outlined highly attractive high-grade gold vein systems, which have now moved to the initial stage of resource development and expansion. TMC signed a Letter of Intent in February 2010 with ITH and TGC signed a JV Definitive Agreement in September of 2010 with Raven Gold Corp a wholly owned subsidiary of Corvus Gold to acquire an 80% interest in the project and form a JV company and act as operator. The Company was able to secure this project as ITH was occupied in development of a 12 million gold deposit in another part of Alaska. Land Status: Property consists of 344 Alaska State Mining claims covering approximately 85 square miles (Figure 1). All Government permits and reclamation plans are current through 2014. Terra Gold Corporation (TGC) has a Joint Venture (JV) Agreement with Raven Gold Corp, a subsidiary of Corvus Gold, Inc. and International Tower Hill Mines, Ltd. (ITH) for 80% interest on the Terra Project through expenditures of $9,500,000 of work into the project over four years. Background Background: The Alaska Terra property is located between the Revelation and Terra Cotta mountains in southwestern Alaska at 61° 41’ 52.17”N latitude by 153° 41’ 05.59W longitude. The infrastructure at the project consists of a modern camp. The camp is fully equipped with a core facility, kitchen and tents to accommodate 25 people, small bulldozer, excavation, wireless internet and a pilot mill on site. The 800m gravel airstrip provides year-round aircraft access and will be expanded 700m to handle larger aircraft in 2012. A total of 36 diamond drill holes have been completed on the Alaska Terra project property. The primary target covers a 5km area with high-grade gold mineralization located in four vein zones (Fish, SD, Ice and Ben Vein zones in Figure 1). These vein systems appear to be intimately associated with the margins of the Donlin Creek age diorite intrusions (67 Ma) and generally trend north to northwest. To date, our focus has mainly been on the Ben Vein. A NI 43-101 compliant resource model was created in the first quarter of 2008 and updated for Terra Mining Corp in June of 2010. Figure 1: Alaska Terra property illustrating target vein locations The Ben Vein contains a core zone of about 23 grams/ton (g/t) gold at a 3 g/t cutoff which expands significantly when the cutoff is lowered to 1 g/t. Drilling on the Ben Vein has outlined an open-ended mineralized zone over 550m long and 350m down dip with an average true width of ~1.3m at an average grade of 23 g/t gold. The drilling on the project has identified numerous gold bearing veins, which in total offer potential of 1million ounces gold present. In 2011 a 25 ton per day pilot mill for bulk sample mining was constructed at the Alaska Terra Project. In 2012 bulk sample mining and pilot milling of ore with gold production will commence. Environmental baseline studies are underway on the Alaska Terra project in anticipation of future development. The Alaska Terra Project mineralization has been characterized as deep epithermal and could have significant extent down dip and along strike. Furthermore, there is potential to develop a number of continuous high-grade veins forming a highly attractive mining target. Gold characterization work on the Ben Vein indicates a very large percentage (+80%) of the gold and silver reports to a gravity concentrate. The 2005-2007 results for the Ben Vein Area are encouraging not only because they outlined a consistent and well mineralized main vein structure but also because a large number of well-mineralized subsidiary veins were encountered. These subsidiary veins offer significant potential for expansion of the system with intercepts such as holes TR-07-20 with new footwall zone of 0.6m @ 43.2 g/t gold and TR-07-22 with new hanging wall zone 0.8m @ 14.5 g/t gold. From the data currently available it appears that a higher grade shoot is developing within the overall Ben Vein system which could form the nucleus for an initial mining target on the project. In 2011 drill results from the 4 holes drilled that intersected the Ben Vein and extended the mineralized zone 200 meters north. An updated resource model will be forthcoming in future 43-101 reporting. Preliminary proforma cash models of a prospective deposit look highly positive. Opportunity: The Alaska Terra project has significant potential for not only the development of a large high-grade gold deposit but for near-term production from our pilot mill on-site. The excellent gravity recovery characteristics of the ore (+80%), favorable mining configuration and the high-grade nature of the deposit are all positives for near-term development of the initial ore zone while underground exploration is developing additional ounces. WestMountain has positioned the property for near-term small-scale production transitioning to anticipated 30,000 ounce per year mine operation. WestMountain has a full camp on site. Data Available: WestMountain has the ITH surface and subsurface geochemical and geological database including geological mapping, gold characterization study, and structural interpretations 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, drill data from the 4 drill holes and data from rock, soil and stream sediment geochem data collected, identified new areas with gold anomalies were discovered which are being explored by the company. The Ben Vein contains a core zone of about 23 grams/ton (g/t) gold at a 3 g/t cutoff which expands significantly when the cutoff is lowered to 1 g/t. Drilling on the Ben Vein has outlined an open-ended mineralized zone over 550m long and 350m down dip with an average true width of ~1.3m at an average grade of 23 g/t gold. The drilling on the project has identified numerous gold bearing veins, which in total offer potential of 1million ounces gold present. In 2011 a 25 ton per day pilot mill for bulk sample mining was constructed at the Alaska Terra Project. In 2012 bulk sample mining and pilot milling of ore with gold production will commence. Environmental baseline studies are underway on the Alaska Terra project in anticipation of future development. The Alaska Terra Project mineralization has been characterized as deep epithermal and could have significant extent down dip and along strike. Furthermore, there is potential to develop a number of continuous high-grade veins forming a highly attractive mining target. Gold characterization work on the Ben Vein indicates a very large percentage (+80%) of the gold and silver reports to a gravity concentrate. The 2005-2007 results for the Ben Vein Area are encouraging not only because they outlined a consistent and well mineralized main vein structure but also because a large number of well-mineralized subsidiary veins were encountered. These subsidiary veins offer significant potential for expansion of the system with intercepts such as holes TR-07-20 with new footwall zone of 0.6m @ 43.2 g/t gold and TR-07-22 with new hanging wall zone 0.8m @ 14.5 g/t gold. From the data currently available it appears that a higher grade shoot is developing within the overall Ben Vein system which could form the nucleus for an initial mining target on the project. In 2011 drill results from the 4 holes drilled that intersected the Ben Vein and extended the mineralized zone 200 meters north. An updated resource model will be forthcoming in future 43-101 reporting. Preliminary proforma cash models of a prospective deposit look highly positive. Figure 2: Ben Vein long section (cross section view of vein and mountain) showing drill intercepts (pierce points of the vein) and the most prospective areas for mining based on these results. Figure 3: Ben Vein visible gold 2011 Drill Program and Beyond Focused on developing a high grade underground 30,000 ounce a year gold operation with significant upside production potential. • 168,000 oz. gold & 310,000 oz. silver resource • $3.5 Million 2012 exploration program • Poised for growth • Alaska – Mining Friendly State • Permits in place - drill ready • 85 sq mi Alaska state claims land package • 1 million ounce exploration potential
Scroll down for more posts ▼

Top 10 Most Recent News Articles

White House Photographer Reveals Unseen Historic Moments

Updated Category News Views 94

You don’t just wander into the White House and leave unimpressed, not if you're someone who lived it like David Hume Kennerly. Imagine stepping behind those gates and through history's lens, capturing moments few had the privilege to see. Kennerly's debut as the Chief White House Photographer was at a turning point in America, just after the Nixon saga collapsed in...

Continue Reading
Boardwalk Welcomes New CFO: What This Means for Growth

Updated Category News Views 77

Boardwalk's Leadership Shift: Enter Scott Wexler Nothing spices up a pipeline company's menu like a fresh plate of leadership. Boardwalk Pipelines, out in Houston, just handed the keys to their finance dungeon over to Scott Wexler. He's stepping in as the chief financial officer and senior VP of corporate strategic development, an upgrade that got announced today. Packing...

Continue Reading
EzAccounting: Your Q3 IRS Filing Gets a No-Nonsense Tool

Updated Category News Views 19

Taking Tax Deadlines Head-On Tax season's got businesses sweating all over the country, but it doesn't have to be a full-scale panic attack if you've got the right gear. That's where ezAccounting steps in, dishing out a reliable solution to hit those looming IRS Form 941 deadlines without a migraine. By November 2, 2026, companies are looking to dodge the bullet of...

Continue Reading
Markel's Reinsurance Shift with $4.8B Deal: Strategic Move?

Updated Category News Views 29

Weaving Through Complex Insurance Terrain When Markel Insurance pulls a move on the chessboard that involves $4.8 billion in subject reserves, we better pay attention. The insurance bigwig has inked a reinsurance deal with Enstar. This plan, they say, will help them focus more on their specialty insurance game while tidying up the loose ends in their global reinsurance...

Continue Reading
LUNGevity's Bold $1M Bet on Lung Cancer Research

Updated Category News Views 24

Investing in the Future of Lung Cancer Research Damn, you don't see this kind of commitment every day! LUNGevity Foundation is dropping over a million bucks on the table to swell the ranks of lung cancer researchers. They're not just tossing dollars at established players; they're betting on fresh minds to shake things up in this critical field. Tackling lung cancer isn't...

Continue Reading
Pave and Levels.fyi Unite: Revolutionize Pay Decisions

Updated Category News Views 17

Diving straight into the heart of it, here's a move in the business world that's all but marking its territory on the compensation landscape. Pave, already a big player in agentic compensation management, is shaking hands with Levels.fyi, a platform prized for its real-deal compensation data detailed down to the company, level, location, and skill. These folks are...

Continue Reading
Navigating Gas-to-AI Power: Challenges & Opportunities

Updated Category News Views 19

Natural Gas Abundance Meets Conversion Hurdles It’s a wild scene when you've got oodles of natural gas but struggle to get it into AI data centers. That’s the picture today: U.S. gas production hitting a high of 137 billion cubic feet daily, while converting that gas into practical energy is the real challenge. You see, the gas market is ready to rumble, ticking...

Continue Reading
Aktia Bank: Steady Ratings, Focused Expansion in Europe

Updated Category News Views 67

Aktia's Ratings Get a Boost In the world of financial minutiae, it was S&P Global Ratings that took the stage, buzzing about Aktia Bank Plc. The bank just had its ratings held steady with an outlook lift from negative to stable. That's like someone throwing you a life jacket when you're treading water; significant if you're trying to stay afloat, not so much if you've got...

Continue Reading
Fed Holds Steady, But CD Rates Climb: Savers' Edge

Updated Category News Views 37

The Fed Sits Tight, But CD Rates Surge Isn't it a kicker when the Fed holds rates steady, yet the CD market is buzzing like a crowded trading floor on a bull run? We've seen the Federal Reserve hold its ground without budging interest rates, keeping everyone guessing while inflation's still a shadow in the corner. But the star of the show here isn't the Fed's poker...

Continue Reading
Rothera's KPI Swap Approval: A Financial Game Changer

Updated Category News Views 107

Revolutionizing Risk Management with KPI Swaps Boy, if there's one thing that gets my ticker going, it's the buzz of innovation in financial markets. Rothera just landed a CFTC stamp of approval for something that's about to shake up how institutional traders manage risk: Key Performance Indicator (KPI) swaps. And can you believe it? This isn't just another derivative...

Continue Reading

Top 5 Most Recently Viewed Articles

Market Momentum: Accenture's Strong Earnings Impact Stocks

Updated Category News Views 73

Market Overview: U.S. Stock Dynamics U.S. stocks saw a positive trend with the Dow Jones index experiencing a significant rise of over 250 points in recent trading sessions. Index Performance On this day, the Dow Jones Industrial Average rose by 0.63%, concluding at 42,177.28. Similarly, the NASDAQ increased by 0.54% to reach 18,179.88, while the S&P 500 also saw gains of...

Continue Reading
Exploring Technology for Good: Insights from AI Experts

Updated Category News Views 213

Understanding the Concept of Technology for Good Amidst the fast-evolving landscape of artificial intelligence (AI), one individual stands out for their insights into how technology can profoundly benefit humanity. As a member of the UN advisory body on AI, Zhang Linghan, a seasoned professor, presents a comprehensive view on the philosophy of 'technology for good...

Continue Reading
Corporate America Faces Challenges in Women's Workplace Progress

Updated Category News Views 205

Navigating the Future for Women in the Workplace In a rapidly changing world, the dynamics of the workplace continue to evolve, especially for women. The latest insights underline significant potential setbacks in corporate America that could undermine the progress achieved in recent years. Organizations that once championed diversity and inclusion are at a crossroads,...

Continue Reading
Barington Capital Urges Matthews International Shareholders to Act

Updated Category News Views 221

Barington Capital Urges Matthews International Shareholders to Act Barington Capital Group, L.P., an activist investment firm, is taking the initiative to address the governance concerns at Matthews International Corporation. The firm, owning about 2.2% of Matthews' common stock, has sent a compelling message to shareholders, urging them to elect their director nominees...

Continue Reading
Key Insights from Sampo plc's Annual General Meeting Proposals

Updated Category News Views 193

Overview of the Annual General Meeting Proposals Sampo plc has provided essential insights into the proposals for their upcoming Annual General Meeting (AGM), reflecting the company's strategic initiatives for the upcoming financial year. These proposals stem from the Board of Directors and the Audit Committee, aiming to enhance operational efficiency and shareholder...

Continue Reading