Mineral Mountain Resources Ltd.’s CEO Talks About the Potential of Finding Modern Day Gold in The Black Hills with Uptick Newswire’s Stock Day Podcast
PHOENIX, Oct. 29, 2018 - Mineral Mountain Resources Ltd. (“OTCQX: MNRLF”) (TSXV: “MMV”) (“Company”) 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. Nelson Baker, President and CEO, talked with Stock Day’s Everett Jolly about their plans in South Dakota.
Nelson started by explaining that they are a group of geologists that have had a lot of success in Canada before turning to the Black Hills.
“We have spent a considerable amount of research and time in the Black Hills researching the Homestake gold trend. We determined, because of the lack of modern-day exploration, that the potential to host another modern day Homestake style deposit was high. We felt there was no better place to explore, other than mining friendly, South Dakota.”
He told Jolly that the company has been there since 2012. Jolly then asked Nelson why he believes the Homestake gold trend can host another gold deposit.
“The Black Hills host the largest gold deposit of its kind in the world,” Nelson explained. “That’s the Homestake Gold Mine, at the northern end of a 70-kilometer belt that stretches from Homestake to the Keystone area. The Homestake Mine produced over 40 million ounces, it’s unique in the fact that it never ran out of gold, it had to shut down because the deposit got too uneconomic to mine at the very deep depths of 8300 ft. and gold under $300 per oz. Over 125 years, it never misses making a profit.”
He said that in the latter parts of the mine life, it closed in 2001, the operation was economically negative, so an exploration budget of $70 million was set up to find other near surface deposits in the area, which now is the site for Mineral Mountain Resources Ltd.’s stand by Standby mine.
“It was always thought by explorers that the Homestake Mine was a unique event,” Nelson said. “However, our work, database, and drilling at Standby refutes that. We believe Homestake holds more deposits and we are focusing our efforts in the Rochford District.”
Nelson went on to explain that since the mine was discovered in 1876, it started a massive claim staking rush. Everyone in the mining industry flocked there, but in those days you could only stake small claims. This made the area fragmented with small claim packages, the mineralization often extended onto adjacent claims which impeded large land block assemble which is needed for modern day mining. The most active time of the mine and along the belt ended in about 1920, so modern methods were not yet available.
“The last meaningful exploration in the Rochford area was in 1997. After that there was very little sophisticated, well planned exploration in the Black Hills. So, we spent a lot of time and money consolidating the gold belt after we flew the area with modern day airborne geophysics. Using the geophysics as our guide, we ended up staking the most prospective gold structures trending through the Rochford District similar geologically to Ledge #9 and the main Homestake ledges that produced 9.5 million and 19.7 million oz. between the 2000 and 3000 ft. level. We now have over 7,500 acres. We now have the best database ever put together in the Black Hills. That coupled with excellent comparisons to the Homestake Mine, makes the Rochford District an excellent area to explore for world class high grade gold deposits.”
Jolly then asked how phase I drilling at Standby is going. Nelson says that the results prove they have another potential Homestake style deposit.
“We are dealing with a major gold structure,” he said.
To listen to the entire interview, follow this link. https://upticknewswire.com/featured-interview-ceo-nelson-baker-of-mineral-mountain-resources-ltd-otcqx-mnrlf/
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 its wholly owned subsidiary Mineral Mountain Resource (SD) Inc., has spent over $10 million US in gold exploration in the Black Hills of South Dakota and 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 MMV’s Phase 1 drill results reinforces the districts potential to host district scale gold discoveries.
Contact:
Mineral Mountain Resources Ltd.
“Nelson W. Baker”, President and CEO
For further information, please contact:
Brad Baker, Vice-President Corporate Development & Director
(604) 714-0111info@mineralmtn.com
Or visit our website: www.mineralmtn.com
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.
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SOURCE:
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