- Commercial grade gold mineralization in GH11-45 is the deepest intersection to date and the first hole to test the sub-300m level
- Expands to Depth (-300 metres) and Along Strike (300 metres)
- Drill program increased to 10,000 metres, second drill added
- Zone remains opens in ALL directions
Vancouver, British Columbia, April 27, 2011: Mineral Mountain Resources Ltd. (MMV.TSX-V) (“Company”) is pleased to report that more robust gold assays have been received from the ongoing drill program which is targeting the Cook Zone on Block A, a significant part of the Company’s extensive land package totalling 145 sq. km located in the heart of the emerging Shining Tree gold district. As at March 31st, 2011, the Company has completed 11 drill holes for a total of 3,635 metres and, as a result of the encouraging results to date, the drill program has now been expanded to 10,000 metres. Final assays have been received for three additional drill holes, GH11-45, 46 and 47, the first of which undercuts, by 25 metres, the previously reported intersection of 6.9 metres grading 5.17 g/t Au in hole GH11-44 drilled on section 10150 E and the other two holes, GH11-46 and 47 drilled along section 10125E, a 25-metre step out to the northwest. All results are summarized in Table 1 below.
To see images associated with this release can be viewed on the Company’s website www.mineralmtn.com.
In October, 2010, the Company acquired the right to earn a 70% interest in Block A by 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). Recent 3D modeling of the Cook Zone drilling indicates a steep north-westerly plunge. Earlier interpretations suggested the zone plunged to the southwest.
Cook Porphyry Zone
The Cook Zone lies proximal to the Tyrrell Shear Zone (TSZ) and is hosted within silicified and carbonate altered mafic and ultramafic volcanic rocks that have been intruded by alkaline porphyry displaying intermittent brecciation and pervasive alteration associated with strong quartz carbonate veining with pyrite as the main sulphide mineral. Drilling continues to intersect significant, wide gold mineralization from several sub-parallel zones near surface. The higher grade mineralization lies in a zone proximal to a northwest striking diabase dyke intersected in all holes drilled to date. The gold grade of this lower zone has good continuity and appears to improve at depth.
“We are encouraged that the Cook Zone is so robust at the -300 m level and with its’ unusual continuity. The overall width and grade of this gold system provides significant potential for a commercial grade gold deposit”, 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 the details were describe in our first news release dated Jan 11, 2011 and can be found on the Mineral Mountain Resources Ltd website.
The Shining Tree Project is managed by Joerg Kleinboeck P.Geo. and the drill program 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.
Drill Program Increased to 10,000 metres
A second drill rig has been secured from Bradley Bros and will begin testing the Copper Hill/Brunet Zone located on the main block this week. Mineralization of the copper hill zone consists of chalcopyrite-rich quartz-carbonate veins that occur in and proximal to the red dome rhyolite. They are interpreted as late-stage veins, mineralized with copper remobilized from the copper-rich red dome rhyolite contemporaneous with diabase dyke emplacement.
About Mineral Mountain
The Company is a well-funded explorer and developer of precious metals with approximately $7 million in its treasury. The Company’s portfolio consists of three major gold projects that should meet Mineral Mountain’s long term objective of becoming a strong mid-tier resource group. First in south eastern British Columbia, the Company’s 100%-owned 89,000-hectare, 70 km by 15 km Kootenay Arc Project hosts a geological environment that is favourable for sediment-hosted precious metal deposits similar to those found along the Carlin Trend of Nevada and in the Selwyn Basin of Yukon. Secondly, in the emerging Shining Tree gold district 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 Main Block (60%) and Block A (70%) host a number of regional scale gold-bearing shear zones, one of which hosts the Cook Zone (Tyrrell Shear Zone) that offer above average potential to host both commercial grade bulk tonnage and underground grade gold mineralization. Finally, the recently acquired 11 km by 4 km Straw Lake Gold Property 70 km northeast of the Rainy River deposit, geologically is located at the intersection of two regional faults, the Manitou-Stretch and the Pipestone Faults, an ideal setting to host a Hemlo-style high grade deposit or a Hammond Reef-style large volume, bulk tonnage gold deposit.
Table 1 Summary of drill results
Cook Zone 2011
*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
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy and accuracy of this news 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, 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 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 for further information.