- Phase 1 consisting of nine (9) holes totaling 2,937 meters (9,637 feet) intersecting broad intervals of economic Upper Tail gold mineralization within the East Limb Structure 500m down plunge from the historical Standby Mine.
- The Upper Tail gold mineralization from surface to 500 meters down plunge averages 24 m in width and average grades up to 3.34 g/t Au with locally high grade gold concentrations of up to 9.80 g/t Au.
- The prominent East Limb gold structure has now been traced for 2,000 m (2 kms)
- Phase 2, totaling up to 4,000m, will target centroid-type mineralization intersected in Homestake hole SM87-3A (10.29 g/t Au over 3.1m) by employing “state of the art” directional drilling technology
VANCOUVER, British Columbia, Oct. 01, 2018 (GLOBE NEWSWIRE) -- 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.
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 ).
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|
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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.