- DDH GH11-44 intersects 3.46 g/t Au over 13.25 m including 5.17 g/t Au over 6.9m and 10.28 g/t Au over 1.0 m.
- Gold mineralization in hole GH11-44 is hosted in a 111 meter wide, strongly altered structure grading 0.62 g/t Au.
- Drilling continues to the northwest. Cook Zone is open in all directions and offers excellent potential to host a commercial gold resource.
Vancouver, British Columbia, March 22, 2011: Mineral Mountain Resources Ltd. (MMV.TSX-V) (the “Company”) is pleased to report that more positive gold assays 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 totalling 145 sq. km located in the heart of the emerging Shining Tree gold district. Final assays have been received for an additional 3 drill holes, GH11-42, GH11-43 and GH11-44 drilled on the same section 10150 E.
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 on the Company’s website www.mineralmtn.com).
Cook Porphyry Zone
The Cook Zone 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 gold-bearing alteration zone on this section which includes all three holes in this release averages 103.5 metres wide with an average grade of 0.483 g/t Au. The higher grade mineralization lies in a zone proximal to a northwest striking diabase dyke intersected in all holes drilled to date.
“The drill program has been expanded to 10,000 m in light of the continued positive results in all 9 holes reported by Mineral Mountain Resources.” said Nelson Baker, President of Mineral Mountain Resources Ltd.
This release covers the next 3 diamond drill holes GH11-42 (dip -45), GH11-43 (dip -50) and GH11-44(dip -55) all on the same section with an azimuth of 015 degrees. The latter hole, GH11-44, is the deepest gold intersection to date, at approximately -250 m, on the Cook Zone.
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.
About Mineral Mountain
Mineral Mountain is a well-funded explorer and developer of precious metals with approximately $7.5 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 88,000-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 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 or 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|
NOTE: ALL INTERSECTED WIDTHS IN TABLE 1 ARE CORE INTERVALS AND NOT TRUE WIDTHS
The Company wishes to make a correction to the news release dated March 7, 2011 whereby it was errantly reported that the Mineral Mountain Resources Ltd. could purchase one-half of the 3% net smelter royalty for CDN$1,500,000. The correct terms should state that Mineral Mountain Resources Ltd. could purchase 1% of the 3% net smelter royalty for CDN $1,500,000.
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
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.