(Vancouver, August 8, 2018): Mineral Mountain Resources Ltd. and its subsidiary Mineral Mountain Resources (SD) Inc. (“Mineral Mountain” or the “Companies”) (TSX.V: “MMV”) (“OTCQX: MNRLF”) are pleased to report that a total of six (6) of the planned twelve (12) NQ diamond drill holes have now been completed totaling 2,155m on the Companies Standby Mine Target in the Rochford District in the Black Hills of South Dakota. The analytical results for the first three holes, ST18-001, ST18-002 and ST18-003, were released on May 03, 2018. Drill hole ST18-006 was successful in intersecting the steeply plunging high grade shoot that hosts the Standby Mine deposit 230m below surface and 50m down plunge of historical drill hole BLG-UG3 which graded 3.36 g/t Au over 24 meters. This high grade shoot occurs within a 34m wide classic Homestake-style quartz-chlorite breccia with silica flooding, 3-15% coarse-grained arsenopyrite and 3-7% pyrrhotite. Hole ST18-006 grades 2.12 g/t Au over 20 meters including 4.39 g/t Au over 2.5 m and 5.24 g/t Au over 1.5 m. (see 3D Isometric View and Drill Hole Locations posted on the Company’s website www.mineralmtn.com). (Note: Pictures of arsenopyrite-bearing core from ST18-006 have been posted on the Company’s website www.mineralmtn.com)
Drill hole ST18-004, which recorded low gold values wandered off its planned course and did not intersect major intervals of the Rochford iron formation. Hole ST18-005, the deepest drill hole in this campaign to date at 352.3 m, intersected 1.50 g/t Au over 5.7 meters. This hole did not target the Standby Mine high grade shoot. Upon completion of ST18-005, this hole was geophysically probed thus providing a strong vector toward the 34 m wide Standby Mine shoot.
Presently, drill hole ST18-007 is in progress and is designed to test both a second southeasterly trending mineralized structure averaging 30m in width occurring west of the Standby Mine high grade shoot (referred to as the West Limb Structure) and the down plunge extension of the high grade shoot referenced above approximately 100m down plunge from ST18-006.
Present and Historical Drill Holes Intersecting the East Limb
|Drill Hole Penetrating East
Standby Mineralized Shear
|Gold Mineralized Intersection in Iron Formation
(Progressing Down-Plunge to the Southeast)
|Approximate Distance of Intersection
Down-Plunge from Surface
|DDH ST18-006||2.12 g/t Au over 20 meters
Incl. 4.39 g/t Au over 2.5 meters
Incl. 5.24 g/t Au 1.5 meters
Historic Underground DDH
|3.36 g/t Au over 24 meters||180 meters|
|1.5 g/t Au over 5.7 meters||300 meters|
|Low gold values|
Historic Homestake DDH
|10.23 g/t Au over 3.05 meters||1800 meters|
Curt Hogge, chief geologist for the Company, commented: “The 34-meter wide Homestake-type mineralized core interval in ST18-006 from 149.0 – 183.0 meters downhole, from a visual standpoint, is a classic Homestake-style quartz flooded, intensely altered and locally brecciated iron formation as well as replace style mineralization in iron formation. The untested potential down – dip and down- plunge represents a strong compelling target that requires definition drilling”.
By comparison, at Homestake, the surface expression of the 9 Ledge upper tail is a 30m x 15m area in a road cut, within which the majority of rock samples assay only 100’s ppb Au to 1 g/t Au, with one higher-grade sample assaying 4.5 g/t Au. However, visible alteration, characterized by quartz veins with moderately to well-developed hydrothermal chlorite selvages and minor sulfide minerals, is locally well developed at the 9 Ledge upper tail position. Consistent ore grade mineralization (~8 g/t Au over 5-10m widths) in the 9 Ledge does not begin to develop until 1200m down plunge (800m vertical depth) on the 9 Ledge, and the highest Au grades and widths in the 9 Ledge Centroid do not occur until 1500m down plunge (1000m vertical depth. By comparison, the Au grades and widths encountered in the only very shallow drilling (to 330m down plunge) to date by the Mineral Mountain on the Standby system, along with the >30m widths of intense quartz flooding – hydrothermal chlorite alteration – remobilized pyrrhotite – arsenopyrite alteration, are highly encouraging at Standby.
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 it’s wholly owned subsidiary Mineral Mountain Resource (SD) Inc., has spent over $9 million US in gold exploration in the Black Hills of South Dakota, 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
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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.