Highlights:
Mineral Mountain Resources Ltd. and its subsidiary Mineral Mountain
Resources (SD) Inc. (“OTCQX: MNRLF”) are pleased to report that its
first phase program of nine (9) holes totaling 2,937 meters (9,637
feet), all focused in the
Upper Tail gold
mineralization hosting the historical Standby Mine, has now been
successfully completed and a 4,000m Phase 2 program, targeting the
high grade gold intersection by Homestake in 1987 which ran 10.29
g/t Au over 3.05m (SM87-3A) and employing “state of the art”
directional drilling technology is being planned.
Nelson W. Baker, President and CEO commented:
“Our Phase 1 drilling has solidified our belief that the Standby
Target is of sufficient scale (multi-kilometer plunge length of
structurally thickened iron formation) to host a major ore-bearing
structure on the scale of the Homestake 9-Ledge that produced 9.5
million ounces of gold”.
Mineral Mountain’s drilling to date has defined
a gold-bearing, near-vertical shear zone (East Limb Structure) in
iron formation, approximately 30 m wide, this prominent structure
has been traced for over 700 meters including BHEM down hole
geophysics in the Company’s Phase 1 drilling. This wide,
well-defined, upper tail structure continues down plunge to a
number of deep holes as far down as 1.5 kilometres, where between
1986-87, Homestake intersected centroid-type gold
mineralization.
Directional Drilling
Using a steerable wireline core barrel, this
method significantly reduces the cost by hitting targets quicker
and more accurately than the traditional method used in Phase 1 of
the Company’s drilling program. By making multiple branches from a
pilot hole, it dramatically reduces both the time spent and cost. A
major benefit to directional drilling is that this method is
amenable to multiple highly accurate cross cuts off the pilot hole
to penetrate the main mineralized shear zone down plunge. This
pilot hole will greatly improve the geological data that will be
collecting as we probe this hole with “state of the art” BHEM
technology. This technology has the capability to see up to 400 m
off hole as we side track the mineralized structure down plunge
towards the high grade gold zone. This BHEM can also see localized
conductive responses directly associated with highly sulfidic gold
mineralization
Status of Current Results
The 26m wide East Limb
Structure was intersected in drill hole
ST18-007 230 meters down plunge
from ST18-006. A wide interval of anomalous, sub-economic gold
mineralization ranging up to 1.22 g/t Au was recorded within the
prominent structure. This hole was terminated at a depth of 540.0
meters and, as previously reported, and was successful in
intersecting multiple intervals of highly contorted, folded, highly
mineralized iron formation with variable concentrations of
pyrrhotite, pyrite and arsenopyrite mineralization.
Analytical results are still to come for drill
hole ST18-008 and ST18-009. Both holes were designed to intersect a
strong down hole EM response that was recorded near the western
edge of the East Limb Structure west of historical drill hole
BLG-UG3 (3.36 g/t Au over 24 meters) and Mineral
Mountain’s ST18-006 (2.12 g/t Au over 20 meters).
Drill hole ST18-008 was aborted early due to blocky terrain and
ST18-009 was drilled to 207 m. Assays are expected soon for
ST18-009. (www.mineralmtn.com ).
Qualified Persons
The technical information in this news release
has been prepared in accordance with Canadian regulatory
requirements set out in National Instrument 43-101 and reviewed and
approved by Nelson W. Baker, P.Eng. the President and CEO of
Mineral Mountain Resources Ltd. and a Qualified Person for this
project. All exploration activities at the Rochford Project are
carried out under the strict supervision of Kevin Leonard, P.Geo.
also a Qualified Person for this project.
About Mineral Mountain Resources and the
Rochford Gold Project
Mineral Mountain Resources Ltd., through its
wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is
focused on the exploration of its 100%-owned Rochford Gold
Project situated along the highly prospective
Homestake Gold Belt in the Black Hills of South
Dakota, U.S.A. The Rochford Project covers approximately 7,500
acres and straddles three major trends of structurally thickened
auriferous iron formation that host ledge-type gold
mineralization.
Since 2012, the Company, through its wholly
owned subsidiary Mineral Mountain Resource (SD) Inc., has spent
over $10 million US in gold exploration in the Black Hills of South
Dakota and controls the largest land position in the Rochford
greenstone belt and now possesses by far the largest and most
comprehensive database for the district in modern day exploration
history! The Rochford Project is vastly under-explored and has the
potential to host district scale gold discoveries.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact:
Brad Baker,
Vice-President Corporate Development & Director |
(604) 714-0111Or visit
our website: |
info@mineralmtn.comwww.mineralmtn.com |
Forward looking information
This release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation (“Forward-looking information”). Forward-looking
information includes, but is not limited to, statements that
address activities, events or developments that the Company expects
or anticipates will or may occur in the future, including such
things as future business strategy, competitive strengths, goals,
expansion, growth of the Company's businesses, operations, plans
and with respect to exploration results, the timing and success of
exploration activities generally, permitting time lines, government
regulation of exploration and mining operations, environmental
risks, title disputes or claims, limitations on insurance coverage,
timing and possible outcome of any pending litigation and timing
and results of future resource estimates or future economic
studies.
Often, but not always, forward-looking
information can be identified by the use of words such as “plans”,
“planning”, “planned”, “expects” or “looking forward”, “does not
expect”, “continues”, “scheduled”, “estimates”, “forecasts”,
“intends”, “potential”, “anticipates”, “does not anticipate” or
“belief” or describes a “goal” or variation of such words and
phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be
achieved.
Forward-looking information is based on a number
of material factors and assumptions, including, the result of
drilling and exploration activities, that contracted parties
provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and
does not incur unforeseen break downs, that no labour shortages or
delays are incurred, that plant and equipment function as
specified, that no unusual geological or technical problems occur,
and that laboratory and other related services are available and
perform as contracted. Forward-looking information involves known
and unknown risks, future events, conditions, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking information. Such
factors include, among others, the interpretation and actual
results of current exploration activities; changes in project
parameters as plans continue to be refined; future prices of gold;
possible variations in grade or recovery rates; failure of
equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of
the mining industry; delays in obtaining governmental approvals or
financing or in the completion of exploration, as well as those
factors disclosed in the company's publicly filed documents.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking information,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
information.
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