- Recent drilling on Standby Target continues to intersect and define intense hydrothermal alteration including complex brecciated quartz veining and Homestake-style mineralization over down hole intervals of up to 259 meters (802 feet)
- 2 holes completed, a third hole ST20-012, designed to undercut ST19-011B is in progress
- Over 200 core samples have been submitted to the lab for analysis
- Analytical results will be released after the completion of ST20-13
- East Shear Zone with Homestake-style mineralization now extended to about 900 meters (2,790 feet) from surface and remains open down plunge
- The East Shear Zone extends to at least 1600m (4,960 ft.) to Target 2
- Bore Hole EM will be used to define the contacts of the East Limb Shear on the next drill hole.
(Vancouver, January 21, 2020): Mineral Mountain Resources Ltd. and Mineral Mountain Resources (SD) Inc (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) is very pleased to report that 2 drill holes, ST19-011 and branch hole ST19-011B have now intersected the East Shear at Standby Target 1 Area and a third hole, branch hole ST20-012, designed to undercut ST19-011B, is now in progress.
In branch hole ST19-011B, multiple intervals of moderate to strong arsenopyrite-pyrrhotite mineralization, quartz-flooded, hydrothermal chlorite-altered were intersected and sampled between 462m to 632m (East Limb Shear) (see select photos of mineralized core posted on the website www.mineralmtn.com/projects/rochford/maps-images/. Approximately 200 split core samples have been submitted to the laboratory for gold analysis.
A summary of the two recent drill holes penetrating the East Shear Zone follows:
DDH ST19-11 intersected branches of the East Shear Zone from 374m (1159 ft.) to 633m (1962 ft.) , including a brecciated quartz flooded alteration zone from 373m to 384m with typically 5%, but locally semi-massive arsenopyrite, followed by hydrothermal chlorite altered and quartz flooded Rochford Iron Formation from 538m to 551m, and five major intervals of quartz veining with altered wall rock septa between 584m and 633 m. (see detail arsenopyrite mineralization from 374m (1,159 ft.) to 383m (1,187 ft.) and of quartz-flooded Rochford Iron Formation with pyrrhotite and hydrothermal chlorite posted on the Company’s website at www.mineralmtn.com/projects/rochford/maps-images/.
DDH ST19-11B Intersected the major East Shear Zone from 545m to 633m, which includes, complex brecciated quartz veining with up to 10% hydrothermal chlorite, 3% hydrothermal cummingtonite, up to 3% magnetic pyrrhotite, and trace arsenopyrite from 545m to 578m, followed by chlorite-cummingtonite-chert Rochford Iron Formation with 10% hydrothermal chlorite, 5% hydrothermal cummingtonite, 20% grey quartz flooding, 3% magnetic pyrrhotite, and up to 2% finely disseminated to blady arsenopyrite to 633m (1962 ft.) see quartz vein with hydrothermal chlorite and arsenopyrite in ST19-11B at 553m and centimeter-scale blady arsenopyrite in chert-chlorite-cummingtonite banded iron formation at 582m posted on the Company’s website www.mineralmtn.com/projects/rochford/maps-images/.
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 Standby Project are carried out under the strict supervision of Kevin Leonard, P.Geo., also a Qualified Person for this project.
Drill core samples are transported, handled and stored with chain of custody procedures. Core is sawn or split in representative halves with one half submitted to the laboratory for analysis and the second half saved for archival purposes. Typical core samples are 0.5 to 1.5 m in length. Gold (Au) assays are by 30 g fire assay with atomic absorption finish with a lower limit of 0.005 ppm and upper limit of 10 ppm. The 48 element geochemical package, including silver (Ag), uses a 4 acid digestion followed by Induced Coupled Plasma with Atomic Emission Spectrometry (ICP-AES) and Mass Spectrometry (ICP-MS), when gold values are greater than 10 ppm then the sample is reanalyzed using fire assay with a gravimetric finish. All over limits are also analyzed using the screened metallic method.
The laboratory for the Standby Project is ALS located in Reno, Nevada. ALS is a certified laboratory that used standard reference material and duplicate sampling to ensure quality control. Mineral Mountain routinely sends a set of 4 blind standards as well as one blank sample with every shipment of core. The results of the analysis of the standard material are continuously reviewed to ensure quality assurance
Mineral Mountain’s President and CEO, Nelson W. Baker, commented:
“The Standby Target is an exciting near-term discovery opportunity for the Company. It’s multi-kilometer plunge length of structurally thickened iron formation is of sufficient scale to host a large, economic gold resource analogous to the Homestake Mine deposits.”
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.