- DDH GH10-38 intersects 4.66 g/t Au over 14.0m including 13.01 g/t Au over 4.0m.
- Gold mineralization hosted in intrusive alkaline porphyry intrusion, geologically similar to Creso Exploration’s Minto deposit mineralization nearby and Lake Shore Gold’s Thunder Creek deposit in the Timmins gold camp to the north.
- All historical and present drilling has been shallow. The Cook Zone offers excellent potential to host a commercial gold resource.
Vancouver, British Columbia, January 11, 2011: Mineral Mountain Resources Ltd. (MMV.TSX-V) (“Company”) is pleased to report that positive assays for the first 3 diamond drill holes have been received from the ongoing drill program which is 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. Recently, the Company purchased Block A from Benton Resources Corp. (BTC.TSX-V) which is held under option to earn 70% interest from Golden Harp Resources Inc. (GHR.TSX-V) (see news release of October 26, 2010 on the Company’s website www.mineralmtn.com).
Cook Porphyry Zone
This zone was first discovered in the 1930’s 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 sulphides with up to 3% by volume. This zone has been subject to several diamond drill campaigns which have intersected significant, wide gold mineralization from several sub-parallel zones.
Some of the better historical down hole drill intersections prior to the Benton era (2009-2010) included 52.4 g/t Au over 4.0m (DDH B-04), 5.71 g/t Au over 4.6m (DDH B-06), 5.40 g/t Au over 7.6m (DDH T-14), 10.6 g/t Au over 3.1m (ORC-01) and 2.7 g/t Au over 13m (DDH KC-12).
Since March 2009, Benton conducted three separate phases of diamond drilling on the Cook Porphyry Zone confirming that the zone is a strong mineralizing event. The results for all of the Benton drill phases are tabulated in Table 2 below.
In December 2010, Mineral Mountain launched a 3500-metre drill program targeting the southwest extension of the Cook Porphyry Zone at about the 150m level below surface. Three holes, GH 10-36, 37 and 38 were completed and sampled prior to the holiday period. Mineral Mountain drill hole GH 10-36 targeted the Benton holes GH 09-04, 05, 06 and 10 while GH 10-37 and 38 targeted Benton holes GH 09-01, 08 and 09. Table 1 below summarizes the results of the 3 holes completed by Mineral Mountain. The shapes and dimensions of the areas of gold mineralization is not yet fully understood, thus true widths of these intersections still cannot be determined.
Diamond drill crews have resumed drilling of the Cook Porphyry Zone on January 10, 2011.
Nelson Baker, President and CEO commented: “Drilling results from the Cook Porphyry Zone continue to demonstrate that it hosts a very large gold system with considerable potential to support either a standard high grade mining or a low-cost bulk mining operation. The core of porphyry mineralization is similar to those found in world class mines in the Timmins Camp such as the Hollinger and McIntyre deposits. The excellent near surface widths and grades intersected provide us with great confidence that the Cook Porphyry could generate an important gold resource for the Company”.
Mineral Mountain has implemented the following quality assurance/quality control (QA/QC) procedures for all of the Shining Tree Gold Project drill programs:
Core was logged then sawed in half, with one side bagged and labeled; the remaining half was placed in core boxes for a permanent record and stored on site. All samples were transported to Accurassay preparation laboratory in Sudbury, after which pulps are shipped to the analytical laboratory in Thunder Bay, Ontario. All samples sent for analyses were prepared using a jaw crusher, which was cleaned with compressed air between samples. A 250-gram split of the crushed sample with 70% passing through a 10 mesh screen was pulverized with 85% passing through a 200 mesh screen. Fire assays were performed using 50-grams of sample with assays equal to or greater than 10 g/t calculated gravimetrically, and lower-grade samples measured by atomic absorption. Multi-element analyses were performed using 1-gram of sample digested in aqua regia and analyzed by inductively coupled plasma atomic emission (ICPMS). Accurassay carries out duplicate assays on every 10th sample. Three Standards (one high grade, medium grade and one low grade) and one locally sourced Blank were inserted sequentially at every 20th sample into the drill core samples before shipment. All the blanks returned no significant gold values. Standards displayed standard deviations of less than 0.16 g/t and geometric means of +/- 1% of the known grade.
Core sample size varied from 0.5 to 2.0 metres with an average sample size of 1.14 metres. Quality control was monitored using a high grade (5.49 g/t) and medium grade (1.019 g/t) and low grade (0.43 g/t) gold standard from Analytical Solutions Inc, as well as a locally sourced rock blank.
The 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.
About Mineral Mountain
Mineral Mountain is a well-funded explorer and developer of precious metals with approximately $8 million in its treasury. The Company has four 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 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 bulk tonnage and high grade gold mineralization. The recently acquired 7 km by 3 km Straw Lake Beach Mine Property 70 km northeast of the Rainy River deposit offers great potential to host a Hemlo-style gold deposit.
Table 1 Summary of drill results
Mineral Mountain Resources Cook Porphyry Zone 2010
|Hole #||From (m)||To (m)||Length||Au g/t|
In drill hole GH10-38 a one meter interval from 161 to 162m assayed 40.13 g/t gold, confirming the potential for high grade shoots within the thicker sections of gold mineralization.
Table 2: Summary of 2009 Benton Drill Results-Cook Zone
|Hole #||From||To||Length||Au g/t|
MINERAL MOUNTAIN RESOURCES LTD.
Nelson W. Baker, President and CEO
For further information, please contact
Brad Baker, Director
Telephone: (604) 714-0111
Telephone: (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.