With the closing of its Initial Public Offering ('IPO') for gross proceeds of
In 2021, Westmount commissioned a high resolution airborne magnetic survey over the 4,868-hectare ('Ha') Douay East Property and, in parallel with the listing process during the fall and winter of 2021/2022, the Company completed a comprehensive GIS compilation of historical and public domain exploration related data. Most recently, the Company has compiled all historical drilling conducted on the property.
Westmount's 2022 program is beginning with a surface geochemical survey over selected parts of the property to be followed by overburden drilling to evaluate and sample basal tills and to map and sample the top of bedrock. The surface geochemical program will consist of a Soil Gas Hydrocarbon ('SGH') survey to commence in late spring. Details of the SGH survey will be based upon on-going interpretation of the compiled exploration data set. Planning subsequent exploration, to test the basal till - bedrock horizon, will also be based on on-going interpretation of the exploration data as well as results of the SGH survey. The Company is currently evaluating methods and suppliers to complete this work. All exploration work is being completed to generate targets for diamond drilling for gold mineralization on the property.
About the Douay East Property
The Douay East property covers an area of 4,868 Ha located in the Abitibi Greenstone Belt ('AGB'), western
About
Westmount is a newly listed company focused on gold exploration in
Contact:
Tel: (604) 683-1991
Forward-Looking Statements
This news release includes certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the commencement of trading of the Company's common shares on the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as 'pro forma', 'plans', 'expects', 'will', 'may', 'should', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', 'potential' or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that the COVID-19 global pandemic will not affect the ability of the Company to conduct the exploration program on the
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the
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