(Vancouver, May 27, 2015): Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) (OTCQX: “MNRLF”) has released results for the first four holes of the Company’s recently completed Phase III drill program consisting of six holes totaling 1413 metres (previously announced in a news release on March 17th ,2015) completed between March-April, 2015 on the Company’s Holy Terror Project near Keystone, South Dakota, U.S.A. All four holes in this release targeted the Keystone gold horizon which forms part of the of the Company’s 50-plus-square kilometre Homestake Gold Trend land package located in the Black Hills of South Dakota, U.S.A. Results for the remaining two holes which targeted the Bullion horizon, a parallel trending gold zone, are still pending.
- Drilling continues to confirm continuity of a high grade “core” and appears to join the Keystone Main and Keystone North Extension targets as one mineralized gold zone;
- The Keystone Deposit remains open in all directions and down plunge.
A total of three of the four holes, HT-15-034, HT-15-035 and HT-15-036, were directed below and along strike of the historic Keystone Mine to confirm grade, test for continuity and to focus on the expansion of the Keystone gold trend. Prior to this phase of drilling, the Keystone Main and Keystone North Extension were interpreted to be two separate gold zones, however, the successful intersection recorded in HT-15-36 below suggest that they represent one mineralized gold zone that has a strike length of 240 metres (787 feet). Prior to this Phase III drill program, limited shallow diamond drilling targeting the area between the historic development levels was completed between1992 to 1995.
Results were highlighted by intercepts of 5.68 g/t Au (0.18 opt) over 9.6 m (31.5 ft.), including 9.16 g/t Au (0.29 opt) over 5.5 m (18.0 ft.) and 13.79 g/t Au (0.44 opt) over 2.6 m (8.5 ft.) in hole HT-15-036. This hole was drilled 60 metres (197 ft.) below the historic workings intersecting the Keystone Main zone 25 metres (82 ft.) west of historic hole CK92-05 that returned 15.15 g/t Au (0.48 opt) over 4.27 m (14.0 ft.). This hole was successful in replicating and confirming the “high grade” nature, the width of the mineralization and the continuity of the zone.
Other positive results were recorded in the Keystone North Extension where hole HT-15-035 intersected 2.75 g/t Au (0.088 opt) over 12.0 m (39.4 ft.) including 5.89 g/t Au over 3.0 m (9.8 ft.) distance of 35 metres (115 ft.) west of historic hole KG94-70 that returned 16.70 g/t Au over 3.35 m (11.0 ft.). The detail results for the first four holes from Phase III are listed in Table 1 below.
The Keystone Deposit, is one of five former “turn of the century” gold producers that occur within a 300 meter wide, crustal-scale regional fault zone. This regional fault zone is considered to be the southeastern extension of the Homestake Gold Trend. Geologically, the gold mineralization displays numerous similarities to the Homestake Mine ores. The Keystone deposit was produced intermittently between 1892 and 1942, with approximately 125,456 tons (114,050 tonnes) mined at a grade of 0.231 opt Au (7.22 g/t).
Nelson W. Baker, President and CEO of Mineral Mountain comments:
“The Keystone horizon is proving to be an important gold zone for us and a prime target for expansion both along strike and down plunge! We are particularly encouraged with the robust widths recorded along this horizon and the distribution and continuity of the gold mineralization along this major structure. Our initial assays certainly meet our expectations and the results highlight the potential along strike and down plunge”.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101, 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. The exploration activities at the Holy Terror Project are carried out under the supervision of our Project Manager Kevin Leonard, P.Geo., another Qualified Person for this project.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
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Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.