Business
Star Royalties Highlights Increased Mineral Resources at Gold Mountain's Elk Gold Mine
(TheNewswire) D ecember 9, 2021 - TheNewswire - T oronto ...
About this update from Star Royalties Ltd
[{"type":"text","content":"Star Royalties Highlights Increased Mineral Resources at Gold Mountain's Elk Gold Mine\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n D\n \n \n ecember\n \n \n 9, 2021 -\n \n \n TheNewswire -\n \n \n T\n \n \n oronto\n \n \n , ON - Star Royalties\nLtd.\n \n \n (the “\n \n \n Company\n \n \n ” or\n“\n \n \n Star Royalties\n \n \n ”) (TSXV:STRR\n \n \n ) (\n \n \n OTC:STRFF), is pleased to highlight an announcement by Gold\nMountain Mining Corp. (“\n \n \n Gold\nMountain\n \n \n ”) (TSX: GMTN, OTCQB: GMTNF, FRA:\n5XFA), dated December 7, 2021, regarding updated mineral resources at\nits Elk Gold Mine (“\n \n \n Elk\nGold\n \n \n ”) in British Columbia, Canada.\n \n \n \n \n Updated Mineral Resources\nHighlights\n \n \n \n \n \n \n Measured and Indicated Resources at Elk Gold increased\nby 24% to 806,000 gold equivalent (\n \n \n AuEq\n \n \n ”) ounces in\n4,359,000 tonnes at 5.8 g/t AuEq, and Inferred Resources increased by\n65% to 262,000 AuEq ounces in 1,497,000 tonnes at 5.4 g/t AuEq, for a\ntotal 32% increase in AuEq ounces across all mineral resource\ncategories.\n \n \n \n \n \n \n Vein models in the Siwash North Zone were incrementally\nexpanded along strike and down dip by 37 new diamond drill holes. This\ndrilling has connected the Siwash North Zone with the Gold Creek Zone\nwhich was historically viewed as a satellite deposit.\n \n \n \n \n \n \n Elk Gold’s multiple zone potential was further\ndemonstrated by 10 diamond drill holes into the Lake and South Zones,\nwhich led to a maiden Mineral Resource estimate in these satellite\ndeposits.\n \n \n \n \n \n \n Alex Pernin, Chief Executive Officer of Star Royalties,\ncommented: “Only two months have passed since Star Royalties\nacquired a 2% net smelter return royalty on the Elk Gold Mine. Our\nexpectation of continued and significant drilling success has been\nquickly realized. The updated mineral resource demonstrates the\nexceptional wealth creation potential of our business model. Indeed,\nthis increase in resources grows Star Royalties’ attributable ounces\nin the Elk Gold Mine by 32% since our acquisition of the royalty. We\nlook forward to the results of Gold Mountain’s Phase 3 drill program\nin 2022.”\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n ...