VANCOUVER, British Columbia, June 04, 2018 (GLOBE NEWSWIRE) — Mineral Mountain Resources Ltd. and its subsidiary Mineral Mountain Resources (SD) Inc. (“Mineral Mountain” or the “Companies”) (TSXV:MMV) (OTCQX:MNRLF) report that the drilling has begun on the Standby Mine property situated near the town of Rochford, in the Black Hills of South Dakota. As reported previously, three (3) NQ diamond drill holes, ST18-001, ST18-002 and ST18-003 totaling 1,322m have been completed and previously reported.
An important positive observed from the first three holes was that the Au grades and widths encountered in the only very shallow drilling to date by the Mineral Mountain on the Standby system, along with the consistent 30m widths of intense quartz flooding – hydrothermal chlorite alteration – remobilized pyrrhotite – arsenopyrite alteration, are highly encouraging. The more than doubling of gold grade over similar widths, along with the dramatic increase in arsenopyrite, from ST18-002 to ST18-003, provides a strong vector toward higher grade gold mineralization down plunge of this section.
The first drill hole, ST18-004, is planned to undercut the 30m wide mineralized structure approximately 100m down plunge of ST18-003. In support of this next round of drilling, the Company plan to utilize a state-of-the art Borehole EM Survey (TDEM-Time Domain EM) designed to locate the highest conductivity zones in the footwall and the hangingwall rocks to the iron formation, along the major shear structures, and help target our future drilling structurally low in the iron formation where it is first cut be a shear structure. At Homestake, this is where many of the orebodies are spatially located. This cutting edge survey is planned to be initiated after the completion of ST18-004 by Discovery Geophysics International. This valuable real time survey data will provide precise drill hole locations within the Standby Mine patents.
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., 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 2013, the Company has continued to expand its land position in the Rochford gold district by professional claim staking and also 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! The Rochford 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
For further information, please contact:
| Brad Baker, Vice-President Corporate Development & Director | |
| (604) 714-0111 | [email protected] |
| Or visit our website: | www.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, due to third party opposition, 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.