Mineral Mountain Resources Ltd.: Bismarck Mine Drilling Confirms More High Grade Gold at Depth
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/14/13 -- Mineral Mountain Resources Ltd. (TSX VENTURE: MMV)(OTCQX: MNRLF) -
Highlights:
-- HT-13-030 intersects 4.1 g/t (0.12 oz/t) over 12.19m including 10.36 g/t
(0.30 oz/t) gold over 3.93m approx. 230m below surface
-- HT-13-017 intersects 4.84 g/t (0.14 oz/t) over 9.49m including 10.0 g/t
(0.29 oz/t) gold over 3.20m
-- HT-13-015W intersects 5.11 g/t (0.15 oz/t) gold over 4.00m
-- High grade gold zones expand the Bismarck Mine and remain untested to
depth and along strike
Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") is pleased to report assays from part of the 2013 Phase II drilling program at its Holy Terror Project (HTP) located 55 kilometres southeast of the formerly producing Homestake Mine in South Dakota, USA. Since the Phase II drilling began on January 15, 2013, a total of eighteen drill holes were completed totaling 3,230.4 metres. Sixteen drillholes are included in this release totalling 2,698 metres and all were drilled at the Bismarck Mine area. The remaining two holes targeted the Egyptian Mine gold zone approximately 200 metres to the southeast and the North Keystone Mine horizon about 500 metres to the southeast and the results for these holes are still pending. A vertical longitudinal section to accompany this release is posted on the Company's website: www.mineralmtn.com.
Phase II Bismarck Mine Drilling
The Phase II drilling program was focussed solely at the Bismarck Mine and designed to both confirm and expand the known high grade, shallow gold mineralization. Down dip continuity of the main zone was demonstrated by drillhole HT-13-030 which intersected 10.36 g/t (0.30 oz/t) gold over 3.93m approx. 90m below the bottom of the Bismarck Mine shaft. This mineralization was hosted in a larger shear zone carrying 4.1 g/t (0.12 oz/t) gold over 12.19m. HT-13-016 confirmed this zone expansion at a vertical depth of approx. 175m, having successfully intersected 8.39 g/t (0.24 oz/t) gold over 2.03m.
Designed to infill gaps in the existing drill pattern, HT-13-017 intersected 10.0 g/t (0.29 oz/t) gold over 3.20m within a wider zone hosting 4.84 g/t (0.14 oz/t) gold over 9.49m and HT-13-015W intersected 5.11 g/t (0.15 oz/t) gold over 4.00m. Detailed drillhole composites are presented in Table 1.
Commentary
Nelson W. Baker, President and CEO of Mineral Mountain, comments:
"Our Phase II drilling program at the Bismarck Mine has been very successful in not only demonstrating the excellent continuity of gold mineralization from hole to hole but also proving that the mineralized zones continue to depth and that the overall gold grade remains consistent."
TABLE 1: LENGTH-WEIGHTED DRILLHOLE GOLD COMPOSITES. GOLD ASSAY TOP CUTTING
HAS NOT BEEN APPLIED. DRILL HOLE INTERSECTIONS DO NOT REPRESENT
TRUE WIDTHS, AS THERE IS INSUFFICIENT INFORMATION TO DETERMINE THE
TRUE WIDTH OF THE DRILL HOLE INTERCEPTS AT THIS TIME.
VERTICAL DEPTH FROM TO LENGTH AU AU
HOLE-ID (M) (M) (M) (M) (G/T) (OZ/T)
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HT-13-015W 55 87.02 91.02 4.00 5.11 0.15
HT-13-015W 61 96.12 97.28 1.16 4.96 0.14
HT-13-015W 81 125.58 129.34 3.76 4.78 0.14
HT-13-016 169 201.95 203.98 2.03 8.39 0.24
HT-13-016 177 212.00 213.07 1.07 4.74 0.14
HT-13-017 62 94.06 103.55 9.49 4.84 0.14
INCLUDING 65 100.35 103.55 3.20 10.00 0.29
HT-13-018 133 156.75 157.70 0.95 9.37 0.27
HT-13-019 ABANDONED
HT-13-020 76 115.34 116.31 0.97 3.52 0.10
HT-13-020 96 143.51 148.59 5.08 3.95 0.12
HT-13-021 ABANDONED
HT-13-022 126 156.26 159.30 3.04 1.29 0.04
HT-13-023 ABANDONED
HT-13-024 77 105.62 106.57 0.95 1.98 0.06
HT-13-024 90 122.12 126.41 4.29 4.10 0.12
INCLUDING 91 124.04 126.41 2.37 6.27 0.18
HT-13-024 110 150.05 153.00 2.95 1.04 0.03
HT-13-025 NO SIGNIFICANT ASSAYS
HT-13-026 ABANDONED
HT-13-027 38 46.01 59.10 13.09 1.41 0.04
INCLUDING 37 48.55 53.50 4.95 2.81 0.08
HT-13-028 NO SIGNIFICANT ASSAYS
HT-13-029 NO SIGNIFICANT ASSAYS
HT-13-030 215 218.24 230.43 12.19 4.10 0.12
HT-13-030 217 223.45 227.38 3.93 10.36 0.30
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Note: Drillhole HT-13-19 was abandoned because the hole deviated too
steeply to pass through the Bismarck structure/mineralization and drillhole
HT-13-21 was terminated at 36.27 metres due to drill rods twisting and
breaking in the hole. In addition, HT-13-23 was abandoned at a depth of 6.3
metres due to unstable ground and the rig was moved forward to HT-13-24.
Drillhole HT-13-26 and HT-13-28 were abandoned at 16.76 metres and 78.2
metres because they intersected the Bismarck Shaft and an underground drift.
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. The exploration activities at the Holy Terror Project are carried out under the supervision of N. Wally Rayner, P.Geo., Vice President of Exploration and implemented by Project Manager Kevin Leonard, P.Geo., both being Qualified Persons for this project.
Quality Control
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 re analyzed using fire assay with a gravimetric finish. All over limits are also analyzed using the screened metallic method.
The laboratory for the Holy Terror 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.
About Mineral Mountain and the Holy Terror 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 key asset, the Holy Terror Project in the Keystone Mining district in the southeastern part of the Black Hills of South Dakota. The Holy Terror Project is centered along the southwestern extension of the Homestake Gold Trend and covers approximately 4,000 acres straddling a major gold bearing structural corridor measuring about 15 km in strike length and 1.5 km in width. The Keystone District contains historic gold mines, eight of which occur within the Holy Terror Project. Production of these mines came from early Proterozoic gold mineralization associated with iron formation, and shear zones similar to the deposits at the former Homestake gold mine which, over 120 years, produced over 40 million ounces of gold. The Holy Terror Project is very well located near Rapid City where it can be easily accessed by a network of roads and has hydro-electricity and modern internet services to the drill site. As well, the area has a skilled labor force and is a low cost exploration area. South Dakota has low political risk and a jurisdiction that embraces mineral development.
A technical report prepared by SRK Consulting entitled "Technical Report for the Holy Terror Project, South Dakota, USA" dated June 20, 2012 (the technical report) is available on the Mineral Mountain website (www.mineralmtn.com) or under Mineral Mountain's profile on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
Nelson W. Baker, President and CEO
Reader Advisory
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.
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.
Contacts:
Mineral Mountain Resources Ltd.
Brad Baker
Vice-President Corporate Development & Director
(778) 383-3975
bbaker@mineralmtn.com
www.mineralmtn.com
