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New Listing: Black Mountain Gold USA (TSXV:BMG)

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The company has an option to acquire a 90% interest in the Mohave Gold Project from M3 Metals, for consideration of up to $6.1 million and $3 million in exploration expenditures in staged payments. The Mohave Project, located about 40 miles northwest of Kingman, is comprised of a total of 160 claims including lode claims and mill-site claims within Mohave County, Arizona, USA.

Additional Information:

Company: Black Mountain Gold USA
Stock Symbol: TSXV: BMG
Date Published: Nov 12, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Black Mountain Gold USA is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “BMG”, following its qualifying transaction with Capital Pool Company Huffington Capital.

The company has an option to acquire a 90% interest in the Mohave Gold Project from M3 Metals, for consideration of up to $6.1 million and $3 million in exploration expenditures in staged payments.

The Mohave Project, located about 40 miles northwest of Kingman, is comprised of a total of 160 claims including lode claims and mill-site claims within Mohave County, Arizona, USA.

The Mohave Project is host to widespread anomalous gold in both rocks and soil over an area of approximately 10 square kilometres.

The geochemistry indicates that the numerous historic gold mines within this 10 square kilometre area may be part of one hydrothermal system.

The high-grade gold occurs in association with quartz-calcite veins, breccia, sheeted veins and stockwork.

The current geological model at the Mohave Project indicates that an epithermal gold system was emplaced into an evolving volcanic/intrusive complex within a north-trending structural corridor undergoing extreme extension.

These circumstances provided fluid pathways for the gold- bearing fluids to fill a series of veins that have been rotated to a sub-horizontal position.

Some of these veins are clearly exposed at the surface while others are suspected to be concealed.

Historically there have been more than 550 historic drill holes totaling approximately 68,000 feet
drilled within limited areas of the Mohave Project.

Most of these holes were shallow, 100 feet deep, air-track holes, many of which stopped in gold mineralization.

Most of the work was done by private companies in the 1980’s and 1990’s.

The company recently completed a private placement, raising gross proceeds of $950,000 from the placement of 11,875,000 units priced at $0.08 per unit.

The units consisted of 1 share and 1 warrant, with the unit exercisable at $0.12 for 12 months.

The common shares are subject to an escrow agreement.

The shares are trading at $0.35.

For more information, please contact Graham Harris, President and CEO, at 604-662-8184 or email graham@BlackMountainGoldUSA.com.

I’m Cassandra Bolinski for Investmentpitch Media