Black Mountain Gold USA Corp. Announces Completion of Airborne Geophysical Surveys and Provides Corporate Update for its Mohave Gold Project, Arizona
Suite 2310 – 1177 West Hastings Street
Vancouver, BC Canada V6E 2K3
Tel: 604-662-8184 Fax: 604-602-1606
www.blackmountaingoldusa.com
Dec. 16, 2020
Black Mountain Gold USA Corp. Announces Completion of Airborne
Geophysical Surveys and Provides Corporate Update for its Mohave
Gold Project, Arizona
Black Mountain Gold USA Corp. (BMG: TSX.V) (“BMG” or the “Company”) is pleased
to announce the completion of airborne magnetic (MAG) and radiometric (RAD) geophysical
surveys on its Mohave Gold Project in Arizona. The survey was completed by Precision
GeoSurveys Inc. (”Precision”) of Langley, B.C. utilizing helicopter-borne survey equipment
over a grid covering the entire Mohave Gold Project (approx. 12 km2) with line spacings of
50m. In addition, the Company is pleased to provide an update on current activities on the
project and planned work programs for 2021.
Graham Harris, CEO and Director, commented “At BMG we are excited to have initiated our
exploration programs at the Mohave Gold Project and continue with EPO permitting initiated
by M3 Metals Corp. ("M3 Metals"). The geophysical survey data will feed into our ongoing
data compilation incorporating over 500 historic drillholes on the property, geological mapping
and extensive rock chip sampling to facilitate a new geological model for the project and assist
in targeting drilling for our 2021 program.”
The geophysical survey consisted of 99 east-west survey lines spaced 50m with 7 north-south
tie lines spaced 500m for a total survey coverage of 298 line km. Flight height was 30m
above surface and a Scintrex CS-3 cesium vapour magnetometer sensor, with sensitivity
better than 0.01 nT, in a nose-mounted stinger configuration was utilized. The radiometric
survey was completed with a self-calibrating NaI(T1) gamma radiation detection system with
256 channel output and a 1 Hz sampling rate.
The geophysical surveys provide a regional overview of the project geology and a preliminary
review of the data indicates several areas of potential gold mineralization which warrant
further investigation by drilling. The preliminary Total Field MAG survey reveals a north-south
trending high along the eastern margin of the property. This feature is interpreted as the
main fault-bounded contact between the Precambrian gneiss to the east and the Tertiary
volcanic package to the west which hosts the majority of the precious metal mineralization
encountered to date on the property. In the centre east part of the block a strong oval MAG
high, approx. 1km by 500m, within a general MAG high 3km by 3km, correlates with and
expands the interpreted footprint of an intermediate intrusion with sericite alteration identified
during mapping. This intrusion is interpreted as a potential heat source that drove the
hydrothermal system that scavenged gold and silver from the Precambrian rocks to the east
and fed the main fault and hangingwall structures that host the precious metal mineralization
prior to extension and tilting on the project. Several additional small MAG highs occur on the
property and warrant further investigation.
Suite 2310 – 1177 West Hastings Street
Vancouver, BC Canada V6E 2K3
Tel: 604-662-8184 Fax: 604-602-1606
www.blackmountaingoldusa.com
The preliminary results of the RAD Total Count Survey identified an anomaly high coincident
with the high MAG anomaly discussed above and likely represents the widespread sericite
alteration identified by mapping and that is prevalent throughout the eastern part of the
project. Compilation and interpretation of the geophysics data is ongoing and final results
which will be incorporated in the geological model in preparation for drillhole target definition.
The geophysics surveys form part of the preliminary exploration program initiated by BMG
upon completion of its option agreement with M3 Metals in early November (see Press release
dated Nov. 5, 2020). In addition to the geophysics, the program includes extensive data
compilation and generation of a revised geological model for the property and gold
mineralization, follow-up mechanical rock chip channel sampling of prospective areas
delineated by last year’s surface sampling program which returned significant gold values
including 78.1 g/t Au over 1.5m (see M3 Metals press release dated May 5, 2020) and
completion of the Exploration Plan of Operation (EPO) which is currently under finalization for
review by the Bureau of Land Management (BLM) in preparation for a 5,000m drill program
in 2021. The EPO is comprehensive and includes extensive environmental baseline studies
covering flora, fauna, cultural, and water resources as well as habitat evaluations. To negate
the need for a revised EPO with each stage of exploration, the current document allows for
up to 600 drillholes and associated infrastructure.
This news release has been reviewed by Peter J. MacLean, Ph.D., P. Geo, Director of the
Company and a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Black Mountain Gold USA Corp. please contact Investor Relations at
(604) 662-8184 or email [email protected].
BLACK MOUNTAIN GOLD USA CORP.
“Graham Harris”
CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release,
the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar
words or expressions identify forward-looking statements or information. These forward-looking statements or
information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves
or resources, regulatory or government requirements or approvals including approvals of title and mining rights or
licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes
in laws, rules and regulations in Arizona which may impact upon the Company or its properties or the commercial
exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the
Suite 2310 – 1177 West Hastings Street
Vancouver, BC Canada V6E 2K3
Tel: 604-662-8184 Fax: 604-602-1606
www.blackmountaingoldusa.com
market for gold/silver, changes in exploration costs and government royalties, export policies or taxes in Arizona and
other factors or information. The Company’s current plans, expectations and intentions with respect to development
of its business and of the Mohave Gold Project may be impacted by economic uncertainties arising out of Covid-19
pandemic or by the impact of current financial and other market conditions on its ability to secure further financing
or funding of the Mohave Gold Project. Such statements represent the Company’s current views with respect to
future events and are necessarily based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social
risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or
achievements to be materially different from the results, performance or achievements that are or may be expressed
or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation,
to update these forward-looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affections such statements and information other than as required by applicable
laws, rules and regulations.