- DDH GH11-60 intersected 7.04m assaying 4.284 g/t Au within a broader interval of 24.5 m assaying 2.444 g/t Au between 270.0 to 294.5m down hole which may be the start of a new shallower parallel zone.
- DDH GH11-59 , the deepest intersection in the Cook Zone to date at -400m vertical, intersected 3 separate gold zones of 4.3m grading 4.349 g/t Au, 3.0m grading 2.764 g/t Au and 38.0m grading 0.822 g/t Au
Vancouver, British Columbia, September 27, 2011: Mineral Mountain Resources Ltd. (MMV.TSX-V) (“Company”) is pleased to report assay results of 6 diamond drill holes (GH11-55 to GH11-60) from the ongoing drill program targeting the Cook Zone, a mesothermal gold zone located on Block A. The results for all 6 drill holes are summarized in Table 1 below. GH11-55 to 59 were drilled on section 10050E which is the furthest northwest section along the trend of the horizon containing the Cook Zone. To date, including section 10050E, all the drill holes completed have consistently intersected the quartz carbonate alteration zone. This alteration zone contains the Cook Zone which demonstrates excellent continuity from section to section. A fan of five diamond drill holes (GH11-55 - GH11-59) were drilled at dips ranging from -45 to -63 degrees to test the down plunge of the Cook Zone, northwest of Ashburn Lake. This set of holes is a step out of 25 m to the northwest of section 10075 E. All holes reached the target depth except for GH11-57 which was abandoned at 197m due to excessive deviation. Drill hole GH11-59 recorded the deepest gold intersection to date at -400m vertical and illustrated the consistent continuity to depth.
Drill hole GH11-60 was drilled on section 10150E as an undercut to GH11-45 (press release of April 27, 2011). This hole intersected two strong zones of gold mineralization, the first from 270m to 294.5m having a weighted average of 2.44 g/t Au over a core length of 24.5m. Within this interval 7.04m graded 4.284 g/t Au. The second zone in this hole extended from 353m to 377.7m for a core length of 24.7m grading 1.86 g/t Au.
The Cook Zone is located in MacMurchy Township on the Company’s 70%-owned Block A along a 4.5 Km extension of the Tyrrell Shear Zone, a regional scale structure. This gold mineralization exhibits remarkable continuity typical of Archean mesothermal deposits. This deposit model is 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.
The Company has recently acquired a 70% interest in Block A and a 70% Mineral Mountain and 30% Golden Harp joint venture has been formed to further explore the Cook Zone and to drill up ice from the gold in till dispersal train discovery made by Reverse Circulation drilling and pit sampling of till (news release dated August 30, 2011). The Company has assumed 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 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. This broad interval lies proximal to a northwest striking diabase dyke intersected in all holes drilled to date.
“Mineral Mountain will finish hole GH11-65 on the Cook Zone this week before moving the drill to test the gold in till dispersal train north of the Decker Occurrence” 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 $ 4.0 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
NOTE: GH11-57 DID NOT ACHIEVE THE TARGET DUE TO EXCESSIVE DEVIATION
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, 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.