- Pine Centre drilling confirms potential for bulk tonnage, open-pittable gold zones at Straw Lake Project
- Drilling highlights include 2.18 g/t Au over 16.50 metres, 1.70 g/t Au over 17.98 metres and 1.38 g/t Au over 15.40m
- Surface channel samples demonstrate remarkable continuity of gold grade - 3.36 g/t Au over 16.0 metres
- Initial drill testing complete over 220 metres strike length and -40 metres vertical depth and remains open along strike and down dip
- The Pine Centre gold zone is open along strike and down dip
Vancouver, B.C. October 18, 2011: Mineral Mountain Resources Ltd. (“Mineral Mountain”) or (the “Company”) (TSXV:”MMV”) and (OTCQX: “MNRLF”) is pleased to announce impressive gold assays from its ongoing exploratory drilling campaign in the Pine Centre Area of its Straw Lake Project, situated approximately 50 km north of Fort Frances in Northwestern Ontario.
Pine Centre Exploration History
The Pine Centre area is underlain by granitic rocks of the Lawrence Lake Batholith and has been witness to intermittent historical work in the forms of prospecting, surface trenching and limited diamond drilling. Previous workers drilling campaigns in the Pine Centre Area have intersected substantial gold grades and widths including drill hole FS-08 (1.60 g/t Au / 21.48m) and drill hole BP07-09 (2.38 g/t / 18.40m). Additional historic length weighted composites from the Pine Centre area are outlined in Table 1.
TABLE 1: LENGTH WEIGHTED GOLD COMPOSITES FROM HISTORICAL DIAMOND DRILLING (RAW ASSAY DATA SOURCED FROM MNDMF ASSESSMENT FILES. CORE LENGTHS EQUAL APPROXIMATELY 90% OF TRUE WIDTHS).
|HOLE-ID||FROM (M)||TO (M)||CORE LENGTH (M)||AU (G/T)||COMMENT|
|FS83-01||26.80||29.80||3.00||0.85||PCAZNOT FULLY SAMPLED|
|OPW-03||4.70||19.20||14.50||1.19||HOLE STOPPED IN PCAZ|
|FS-09||28.20||34.30||6.10||1.45||HOLE STOPPED IN PCAZ|
Current Drilling - Mineral Mountain
The first phase of drilling performed by Mineral Mountain was designed to confirm the historical drilling intersections and also assess the potential for bulk tonnage, open pittable gold mineralization within the Pine Centre alteration zone (PCAZ). The Company’s drill holes were collared proximal to historic drill setups to determine the reliability of previous workers reported intersections and to build a geological framework for the mineralization. Notable intersections include drill hole PC11-018 (2.18 g/t Au over 16.5 metres), PC11-014 (1.70 g/t Au over 17.98 metres) and PC11-019 (1.38 g/t Au / 15.4m). Length weighted gold composites for all assays received to date are presented in Table 2.
TABLE 2: LENGTH WEIGHTED GOLD COMPOSITES FROM CURRENT DIAMOND DRILLING (CORE LENGTHS EQUAL APPROXIMATELY 85-100% OF TRUE WIDTHS).
|HOLE-ID||FROM (M)||TO (M)||CORE LENGTH (M)||AU (G/T)|
Pine Centre Channel Sampling Program
Notable gold grades over wide intervals were delineated over the Pine Centre Occurrences including Channel J (3.36 g/t Au over 16.0 metres), Channel C (3.09 g/t Au over 13.0 metres) and Channel K (3.78 g/t Au over 10.0 metres). Length weighted gold averages for all channel samples are highlighted in Table 3.All channels were cut with a rock saw with a width and depth that would closely mimic the sample size of NQ drill core. Samples were typically 1 metre long, 5 centimetres wide and 5centimetresdeep. This systematic channel sampling program was designed to confirm historical sampling of the Pine Centre outcroppings that was predominantly based on grab and chip samples.
TABLE 3: LENGTH WEIGHTED GOLD COMPOSITES FROM SURFACE CHANNEL SAMPLING AT PINE CENTRE OCCURRENCE
|CHANNEL-ID||ORIENTATION||CHANNEL LENGTH (M)||AU (G/T)|
Geological Framework / Exploration Potential
Based on the drilling and sampling to date, the controls on the gold mineralization in the Pine Centre Area are very well constrained in that gold values are consistently associated with an intensely sheared and altered granitic host rock. The gold bearing shear (PCAZ), ranges from 1-20 metres wide (true width) and has a very shallow dip of 10-20 degrees. Based on the positioning of historical holes the shallow dip of the PCAZ may have not been recognized. The shear has only been drill tested over a strike length of 200 metres and to a vertical depth of -40 metres and remains open along strike and down dip. Numerous other gold occurrences occur in this same granitic batholith including the historical “Harris Lake” showing (2.60 g/t Au in grab sample hosted in sheared granites), which is located 3.3 kilometres northeast of the Pine Centre Occurrences and occurs well within the Company’s large land package.
Nelson W. Baker, President and CEO of Mineral Mountain Resources comments, “We as a Company are extremely pleased with both the gold grades and widths of the mineralization confirmed at Pine Centre. The geological similarities between the Pine Centre mineralization and known deposits such as Osisko’s Hammond Reef and the Kinross Fort Knox deposit are rather striking. We are quite excited about applying our understanding of the mineralizing controls at Pine Centre to expeditiously increase the size of the known mineralization.”
The Straw Lake project is managed by Kevin Leonard, (P. Geo). Wally Rayner (P. Geo)., the Company’s Vice President of Exploration, has verified the contents of this press release and is the Qualified Person for the project.
About Mineral Mountain Resources Ltd.
Mineral Mountain is a well-funded explorer and developer of precious metals with approximately $3.5 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 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 gold 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 and a Hammond Reef-style bulk tonnage gold deposit models.
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
(604) 714-0111 email@example.com
Kin Communications Inc.
(604) 684-6730 firstname.lastname@example.org
or visit our website: www.mineralmtn.com
“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.