GOLD MOUNTAIN DELIVERS RECORD HIGH-GRADE GOLD HIT

49 Metals reports strongest intercept recorded at Gold Mountain, with drilling highlighting a potential high-grade feeder structure in Nevada.

49 Metals Limited (ASX:49M) has reported additional assay results from reverse circulation (RC) drilling at its Gold Mountain project in Nevada, USA, including what the company says is the best intercept recorded at the project to date.

Results from hole DRC#9 returned two zones of oxide gold mineralisation, highlighted by a high-grade interval of 9.1 metres at 21.9g/t Au from 224.0 metres, contained within a broader intercept of 27.4 metres at 8.3g/t Au from 221.0 metres.

Key drill results include:

27.4m @ 8.3g/t Au from 221.0m, including:
- 9.1m @ 21.9g/t Au from 224.0m
25.9m @ 1.4g/t Au from 158.5m, including:
- 1.5m @ 6.6g/t Au from 169.2m
The 227 gram-metre intercept is the strongest recorded at Gold Mountain by any company to date.

According to the company, the interpreted feeder zone sits at a vertical depth of approximately 200 metres and remains only around 120 metres below the natural surface topography. The mineralised structure remains open in all directions.

49 Metals said the results materially increase the prospectivity of the broader Gold Mountain project, with the deeper high-grade mineralisation potentially representing a feeder structure within a larger epithermal gold system.

Assays remain pending from additional completed holes DRC#10 to DRC#13, while drilling continues across priority targets at the project.

49 Metals Chief Executive Officer, Phil Carter

We are extremely pleased and excited by the results of DRC#9 which appears to represent a significant breakthrough in our understanding of the Gold Mountain system, with the deeper high-grade mineralisation potentially representing a feeder structure within a much larger epithermal system.

We have commenced planning for additional holes to test for extensions to this feeder structure and look forward to updating investors on what may prove to be a significant new gold discovery in Nevada