Gold Mountain Limited announced that exploration at the highly prospective Mt Wipi copper - gold - molybdenum prospect is set to resume in March 2023. The exploration teams are currently being mobilised, with exploration activities planned to commence in the second week of March. Gold Mountain will concentrate efforts at the Mt Wipi Project area, and specifically at the Kandum and Pully prospects, where trenching in late 2021 and early 2022 defined strong copper (+ gold) anomalies in trenches.

The Kandum - Pully prospects are associated with strong magnetic anomalies1 with Kandum located immediately adjacent to the vertical projection of a magnetic high feature modelled at a depth of 250m. The Pully prospect area is associated with a strong magnetic low feature, with a modelled depth of between 200m to 300m. Trenching at the Pully project returned intercepts of: 53 m @ 0.32% Cu in MWTR008 from 0m, inc. 17m @ 0.53% Cu2.

50m @ 0.10% Cu in MWTR009 from 28m. 26m @ 0.14% Cu in MWTR010 from 36m. 28m @ 0.14% Cu in MWTR010 from 0mMWTR009.

Gold and molybdenum is associated with the copper anomalism to varying degrees of intensity. Exploration work at Pully will involve extending the trenches, additional mapping and rock chip sampling in order to better understand the geology and geochemistry of the prospect in order to identify high confidence drill targets. Additional trenches will be excavated along strike of the Pully trenches in order to better delineate the extent of the copper mineralization.