Target 1 Mineralization Considered Highly Encouraging
VANCOUVER, Dec. 30, 2019 - Correction from December 23rd:
Mineral Mountain Resources Ltd. and Mineral Mountain Resources (SD) Inc. ("Mineral Mountain" or the "Company") (TSXV: "MMV") is pleased to report that drilling on its Standby Gold Project has been halted for the holiday period and is scheduled to resume on or about January 6th, 2020. Since controlled drilling started in early October, a total of 1,380 meters of drilling has been completed and over 250 samples have been submitted to the laboratory for analysis.
Target 1 (Partially Drill Tested)
Drill hole ST19-011 intersected a well mineralized, quartz flooded shear zone between 373 m and 384 meters in hangingwall rocks overlying the Rochford Iron Formation which hosts the Standby Mine gold deposit. Numerous variably mineralized (Iron Sulfide), sheared/quartz flooded, brecciated and hydrothermally altered zones were encountered from 374 m through to 682 m down hole depth primarily in hangingwall rocks of the Poverty Gulch Formation Trunk Hole ST19-011. These are interpreted to constitute various anastomosing branches of the target East Limb Shear zone.
Curt E. Hogge, the Company's Chief Geologist, who has logged many drill holes in the Rochford and Homestake Mine Districts commented: "The gold/arsenopyrite mineralization from this mineralized and quartz-flooded shear zone (373-384 m) is most unusual and extremely rare because it is hosted in the Poverty Gulch Formation immediately overlying the highly favourable gold hosted iron formation which is chemically and physically favourable for the formation of Homestake-style deposits. Based on our surface mapping and our Leapfrog software drilling down dip and along strike from this mineralized zone present a very compelling gold target!"
Samples have been routinely submitted to ALS Laboratory for fire assay gold and for pathfinder arsenic analyses. Analytical results will be released early in 2020.
Planned Program for 2020
The Company plan to drill a series of "wedge holes" off of ST19-011 to test the gold/arsenopyrite mineralization both down dip and along strike after completing a down hole EM survey of the trunk hole and the continue to drill test the historical high grade gold mineralization referred to as Target 2 at a vertical depth of about 1,000 m.
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 and, if warranted, development of its 100%-owned Standby Gold Project situated along the highly prospective Homestake Gold Belt in the Black Hills of South Dakota, U.S.A. The Standby Gold Project covers in excess of 7,500 acres and covers five major trends of structurally thickened auriferous iron formation comparable to the geological setting of the ledge-type gold mineralization developed at the Homestake Mine.
Magnetic 3D modelling of the Company's airborne survey in 2013, combined with surface geological mapping, and the compilation of historic drilling, highlights 3 high priority exploration targets trends, including the Standby Mine Target, coincident with structurally thickened, sheared, gold-bearing iron formation within the Mineral mountain land package.
Since 2013, the Company has continued to expand its land position in the Rochford gold district by professional claim staking and by purchasing strategically located private properties that fall along two of the major sub-parallel structural trends that host Ledge-type gold mineralization. The Company now owns 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, including the first time that all available data has been compiled and synthesized in modern GIS and 3D imaging software! The Standby Gold Project is vastly under-explored and has the potential to host several district scale gold discoveries.
On Behalf of the Board of Directors
Mineral Mountain Resources Ltd.
"Nelson W. Baker", President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking information
This release includes certain statements that may be deemed to be "forward-looking information" under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking- information. Forward looking information consists of statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward- looking information. Factors that cause the actual results to differ materially from those in forward-looking information include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking information should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.
SOURCE Mineral Mountain Resources Ltd.
Contact
Brad Baker, Vice-President Corporate Development & Director, (778) 383-3975, bbaker@mineralmtn.com, Or visit our website: www.mineralmtn.com
