THE PILOT WAS EXECUTING HIS THIRD VOR RWY 26 APCH FOLLOWING TWO EARLIER MISSED APPROACHES. INBOUND FROM THE FAF THE AIRPLANE SUDDENLY TURNED TO A SOUTHERLY DIRECTION, 90 DEG LEFT OF THE FINAL APCH COURSE, DESCENDING THRU 1,500 FT. AT AN ALTITUDE OF 1,000 FT THE PLT REPORTED EXECUTING A MISSED APPROACH, AND THE ALTITUDE CONTINUED TO DECREASE. THE CONTROLLER BROADCASTED A LOW ALTITUDE ALERT, AND THE PLT RESPONDED HE WAS CLIMBING. THE PLT TURNED LEFT TO AN EASTERLY DIRECTION, AND THE ALTITUDE HAD LOWERED TO 700 FT. THE PILOT WAS ADVISED HE WAS PROCEEDING IN THE WRONG DIRECTION, AND THE CONTROLLER STATED '...I SUGGEST YOU AH REINTERCEPT THE VOR FINAL APPROACH COURSE IF ABLE.' THE AIRPLANE IMPACTED THE MOUNTAIN AT 900 FT MSL, 6 MI EAST OF THE AIRPORT. THE PLLT LIVED 1 MI FROM THE AIRPORT, AND RECEIVED HIS FLIGHT TRAINING FROM AIRPORTS LOCAL TO HIS RESIDENCE. THE PILOT HAD EARLIER TOLD HIS CFI THAT DURING A VOR APCH TO THE AIRPORT AT CIRCLING MINIMUMS HE COULD NOT LOCATE THE ARPT & ELECTED TO LOOK FOR THE ARPT RATHER THAN EXECUTE A MISSED APPROACH.