Step Out Drilling Southeast of Bismarck Mine Intersects More High Grade Gold at Keystone North and Bullion Mine Targets All Gold Zones Tested Open Along Strike and to Depth
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/27/13 -- Mineral Mountain Resources Ltd. (TSX VENTURE: MMV)(OTCQX: MNRLF) -
Highlights:
-- Keystone North target area returns 10.47 g/t (0.31 oz/t) Au over 6.00
metres
-- Bullion Mine target intersects 5.00 g/t (0.15 oz/t) Au over 10.52 metres
-- Bismarck Mine returns 4.46 g/t (0.13 oz/t) Au over 3.00 metres,
including 11.80 g/t (0.34 oz/t) Au over 1.00 metres
-- High grade gold now intersected over a strike length of 600 metres
Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") is pleased to report final assays from the 2013 Phase II drilling program at its Holy Terror Project (HTP) located 55 kilometres southeast of the Homestake Mine, a world-class gold deposit and the deepest mine in the Western Hemisphere, located in South Dakota, USA. The Phase II drill program was prompted by the Company's excellent drill results from its 4,072-metre Phase I program released on November 28, 2012 and on January 16, 2013. Since the Phase II drilling began on January 15, 2013, a total of twenty drill holes were completed totaling 3,713 metres. The first 16 drillholes totaling 3,230 metres, all testing the Bismarck Mine zone, was released on March 14, 2013. The final two drillholes of Phase II are included in this release totalling 483 metres and were drilled at the Bismarck Mine as well as the Bullion and Keystone Mines approximately 550 metres to the southeast. Vertical longitudinal sections to accompany this release are posted on the Company's website: www.mineralmtn.com. Length weighted drillhole composites are detailed in Table 1 in this release.
Phase II Keystone North and Bullion Mine
Drillhole HT-13-032 was designed to test the northwestern extension (25 metre step-out) near surface Bullion Mine gold horizon and also to extend the Keystone North gold zone 25 metres to the northwest at the same level as defined by historical drillhole (1994 Energy Fuels Corporation), KG94-70 which intersected 16.88 g/t (0.49 oz/t) Au over 3.35 metres. HT-13-032 successfully confirmed this mineralization having intersected 10.47 g/t (0.31 oz/t) Au over 6.00 metres.
The surface expression of the Bullion Mine horizon was also tested by the same drillhole (HT-13-32) returning 5.00 g/t (0.15 oz/t) Au over 10.52 metres. This intersection expands the Bullion Mine zone and remains open to the northwest and to depth.
Both the Bullion Mine and the Keystone North target area are located approximately 550 metres southeast of the Bismarck Mine within the complexly and structurally deformed geologic terrain that bears remarkable similarities to the Homestake Mine geology.
Phase II Bismarck Mine Drilling
Drillhole HT-13-031 was targeted at the southeastern extension of the Bismarck Mine and demonstrated mineralization continuity having intersected 4.46 g/t (0.13 oz/t) Au over 3.00 metres, including 11.80 g/t (0.34 oz/t) Au over 1.00 metres. Gold mineralization at the Bismarck Mine has now been traced for a strike length of 175 metres and to a vertical depth of 255 metres below surface. The Bismarck Mine gold mineralization as well as the Keystone North and Bullion Mine zones remains open in all directions.
Commentary
Nelson W. Baker, President and CEO of Mineral Mountain comments:
"As has been demonstrated by both phases of drilling, the exploration potential of the Holy Terror Project is quite simply above average. We are particularly encouraged with the excellent continuity of the gold mineralization throughout the intersected intervals in the Bismarck, Bullion and Keystone North zones. All of the zones are open for expansion along strike and to depth. This project stands out from most others because the high grade gold mineralization is near-surface and possesses robust mining widths. We are very excited to drill test the new Keystone North Target, expand the strike extensions of the Bullion and Bismarck mine horizons as well as several other target areas generated by the recently completed airborne EM survey in our next phase of drilling."
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 FROM TO LENGTH AU AU
HOLE-ID DEPTH (M) (M) (M) (M) (G/T) (OZ/T) COMMENT
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HT-13-031 75 109.00 112.00 3.00 4.46 0.13 BISMARCK
INCL 76 111.00 112.00 1.00 11.80 0.34 BISMARCK
HT-13-031 94 138.00 139.00 1.00 5.25 0.15 BISMARCK
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HT-13-032 5 0.45 10.97 10.52 5.00 0.15 BULLION
INCL 2 0.45 3.35 2.90 5.11 0.15 BULLION
AND 8 6.55 10.97 4.42 8.36 0.24 BULLION
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HT-13-032 206 236.31 242.31 6.00 10.47 0.31 KEYSTONE NORTH
INCL 206 237.28 242.31 5.03 11.75 0.34 KEYSTONE NORTH
AND 206 237.28 238.29 1.01 19.60 0.57 KEYSTONE NORTH
AND 208 240.16 242.31 2.15 13.25 0.39 KEYSTONE NORTH
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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, 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 assets, the Holy Terror Project in the Keystone Mining district and the 100%-owned Rochford Project both located along the Homestake Gold Trend in the southeastern part of the Black Hills of South Dakota. The Holy Terror Project 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 Rochford Project covers approximately 4,400 acres straddling about 7 km of the gold bearing structure and 2 km in width. The Holy Terror and the Rochford Project contain 17 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. Both the Holy Terror and Rochford Projects are very well located near Rapid City where they 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
