- Very fertile N-S gold corridor 5 km long by 200 m to 600 m wide discovered under till cover in an area not previously explored.
- Two distinct gold dispersal trains with larger than normal gold grains identified within the new gold corridor.
- Mineral Mountain earns its 70% interest in block “A”
VANCOUVER, B.C.: Mineral Mountain Resources Ltd. (MMV.TSX-V) (“Mineral Mountain”) is pleased to report that the final results have now been received from a combined 64-hole reverse circulation (RC) drilling program and a 292 shovel pit sampling program covering both the Main Block and Block “A” held under option from Golden Harp Resources Inc. (GHR.TSX-V). This till sampling program was conducted and supervised by Overburden Drilling Management Limited, leading global experts with a unique expertise in tracing gold grains in till covered terrain up-ice to their source or sources. This RC sampling technique has proven to be highly effective in identifying and pinpointing the best gold zones within large gold systems. The RC portion of the above program was largely focused on Block “A” where till thickness was the greatest. This program succeeded in identifying a very fertile N-S gold corridor located in the northern part of Block A that is up to 5 km long ranging from 200 to 600m wide. The gold corridor may be host to a cluster of new, yet-to-be discovered gold zones. Emanating from the 5 km long corridor are two, long, persistent gold dispersal trains (i.e. Decker and Hydro Creek dispersal trains).
Within the N-S fertile gold corridor, 11 RC drill holes intersected gold-anomalous, fuchsite-rich quartz-carbonate veined komatiite, basalt and feldspar/syenite bedrock. The RC program indicates that the fertile gold corridor lies of the east side of a regional-scale fault that is bordered to the west by Temiskaming-type rocks. Seven diamond drill sections spaced 0.5 km apart totaling 28 holes for 7,000 m are recommended to properly test the 5 km long prospective corridor.
Nelson Baker commented: “The strong, extensive gold grain anomaly in the till, especially in an area not previously explored, represents potentially a significant new gold horizon hosting multiple gold zones. Having used this RC sampling technique successfully with Rainy River Resources Limited, we are planning to aggressively drill test this corridor”.
Mineral Mountain is also pleased to report that pursuant to the terms set out in the agreement between Benton Resources Corp. and Golden Harp Resources Inc. (“Golden Harp”) dated June 1, 2009 and the subsequent agreement between Mineral Mountain and Benton Resources dated October 25, 2010, the Company has fulfilled all the option obligations for the Second Option by spending CDN$1,000,000 prior to 2014 and has earned a total undivided 70% interest in the Benton Block A. Going forward, a joint venture will be formed whereby Mineral Mountain will have an initial interest of 70% and Golden Harp will have an initial interest of 30%.
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.
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
Telephone: (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, 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.