- DDH GH11-53 intersected 67.5 m assaying 1.00g/t Au over the interval 410.5 to 478.0m down hole. Including 13.5m assaying 2.04 g/t Au and 2.7 m assaying 5.40 g/t Au.
- DDH GH11-53 represents the deepest intersection in the Cook Zone to date at -350m. vertical
Vancouver, British Columbia, July 26, 2011: Mineral Mountain Resources Ltd. (MMV.TSX-V) (“Company”) is pleased to report more positive assay results from 5 diamond drill holes (GH11-50 to GH11-54) from the ongoing drill program targeting the Cook Zone on Block A, a part of the Company’s extensive land package totaling 145 sq. km located in the heart of the emerging Shining Tree gold district. Drill hole GH11-50 was targeted to undercut GH11-40 by 30m on section 10125 E, located on the east side of Ashburn Lake. On the northwest side of Ashburn Lake, a fan of four diamond drill holes (GH11-51 – GH11-54) were drilled at dips ranging from -45 to -63 degrees to test the down plunge continuity of the Cook Zone. This set of holes was collared 50 m (due to the topographic restrictions) to the northwest to section 10075 E. The Cook Zone is proximal to the Tyrrell Shear Zone, a regional scale structure that hosts the 1.8 million ounce Juby Deposit owned by Temex Resources Corp. (TME.TSX-V) approximately 6 kilometers to the southeast. The mineralization in the Cook Zone exhibits remarkable continuity typical of Archean mesothermal gold deposits. This deposit model provides a major source of gold production in Canada and globally. In the Timmins gold district, the Hollinger (19 million ounces), the McIntyre (10 million ounces) and the Dome (15 million ounces) are world class mesothermal deposits. All results are summarized in Table 1 below.
The Company has recently acquired a 60% interest in Block A and has a further right to earn an additional 10% by spending an additional $1,000,000 CDN by March, 2014. The Company is assuming all obligations of an option that Benton Resources Corp. (BTC.TSX-V) had originally signed with Golden Harp Resources Inc. (GHR.TSX-V) (see news release of October 26, 2010 on the Company’s website www.mineralmtn.com).
Cook Gold Zone
The Cook Zone is hosted within silicified and carbonate altered mafic and ultramafic volcanic rocks that have been intruded by alkaline porphyry displaying pervasive brecciation and alteration associated with strong quartz carbonate veining with pyrite as the main sulphide mineral. Drilling continues to intersect significant, wide gold mineralization. The higher grade mineralization of 5.40 g/t Au represents the lower zone within the broad interval and it lies proximal to a northwest striking diabase dyke intersected in all holes drilled to date. This lower high grade zone has remarkable continuity.
“Drilling will continue to outline the length, depth and thickness of the Cook Zone, while we await the final results from a recently completed till sampling program that was conducted over Block A and the Main Block.” said Nelson Baker, President of Mineral Mountain Resources Ltd.
Mineral Mountain has implemented a quality assurance/quality control (QA/QC) procedures for all of the Shining Tree Gold Project drill programs. Details are described in the Company news release dated Jan 11, 2011 which is posted on the Mineral Mountain Resources Ltd website (www.mineralmountain.com).
The Shining Tree Project is managed by Joerg Kleinboeck P.Geo. and is supervised by Wally Rayner, P. Geo., the Company’s Vice President of Exploration who has verified the contents of this press release and is the Qualified Person for this project.
About Mineral Mountain
Mineral Mountain is a well-funded explorer and developer of precious metals with approximately $ 4.5 million in its treasury. The Company has three major gold projects that meet Mineral Mountain’s long term objectives of becoming a strong mid-tier resource group. In south eastern British Columbia, the Company’s 100%-owned 89,000-hectare, 70 km by 15 km Kootenay Arc Project is believed to have a geological environment for sediment-hosted precious metal deposits similar to those found in the Carlin Trend of Nevada and in the Selwyn Basin of Yukon. In the emerging new Shining Tree mining camp 100 km south of Timmins, Ontario, the Company, through its joint venture with Golden Harp Resources Inc., has become a key explorer in the district. The 145 km² Golden Harp Main Block (60%) and Block A (70%) options host large gold systems that offer above average potential to host both high grade gold mineralization large bulk tonnage deposits. Finally, the recently acquired 11 km by 4 km Straw Lake Property and the Whetstone Mineral claims 70 km northeast of the Rainy River deposit offers great potential to host both a Hemlo-style gold and a Hammond Reef-style bulk tonnage gold deposit models.
Table 1 Summary of drill results
Mineral Mountain Resources Cook Zone 2011
|Hole #||From (m)||To (m)||Length||Au g/t|
ALL INTERVALS IN TABLE I REPRESENT CORE LENGTHS AND NOT TRUE WIDTHS
On Behalf of the Board of Directors of
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact
Brad Baker, Vice-President Corporate Development & Director
Telephone: (604) 714-0111
Kin Communications (604) 684-6730
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.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are 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 statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements 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 statements 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 those forward-looking statements 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