I attempted coloring a test mountain and it came out fine. However, It's not really the style I want so will have to put some work into fixing it. Right now it's to me more "cartoonish" approach, while I'm hoping to achieve a more rustic, antique style. A more shifting color scheme should probably solve that.
The idea is to have forests climbing the lower mountainsides, on some part even draping them in green mantle. Perhaps even some mountain rivers and waterfalls if I dare.

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No shadow

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Shadowed

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Some surrounding grassland and a half-assed attempt at a touch of green within the ravine and the mountainsides