- DDH GH11-65 intersected 4.5 m assaying 5.69 g/t Au within a broader interval of 16.5 m assaying 2.07 g/t Au between 151.5 to 168.0 m down hole
- DDH GH11-64 supports the northwest plunge intersected 4.5 m grading 4.18 g/t Au, from 241.5 to 246 m down hole.
Vancouver, British Columbia, November 9, 2011: Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) (OTCQX: “MNRLF”) and Golden Harp Resources Inc. (TSXV: “GHR”) are pleased to report the final assay results for an additional 5 diamond drill holes (GH11-61 to GH11-65) from the on-going drill program targeting the Cook Zone, a mesothermal gold deposit located in the central part of Block A. The results for all 5 drill holes are summarized in Table 1 below. Historic drilling of the Cook Zone outlined gold mineralisation down to -75meters below surface. Systematic drilling by Mineral Mountain has now extended the Cook Zone to -450 meters vertical along a northwest plunge under Ashburn Lake. To date, the Cook Zone drilling by Mineral Mountain totals 11,734.5 meters providing the company sufficient drill hole information to create a geological model and an in-house preliminary non 43-101 compliant resource.
Drill hole GH11-61 was drilled on section 10150E to undercut the northwest plunge and bracket the zone. DDH GH11-62 drilled on section 10175E undercut GH11-40 also bracketing the zone. GH11-63 and GH11-64 on section 10225E tested the lower contact of the Cook Zone whereas drill hole GH11-65 tested the central core of the Cook Zone on the same section. The Cook Zone occurs within a west-northwest trending quartz carbonate alteration zone that has demonstrated excellent continuity from section to section.
The Cook Zone is located in MacMurchy Township on the Company’s 70%-owned Block A proximal to the Tyrrell Shear Zone, a regional scale northwest trending structure that hosts a number of similar gold occurrences including the Juby Gold Deposit held by Temex Resources Corp. (TME.TSX-V) and the Big Dome/Hydro Creek Zones explored by Goldeye Explorations Limited (GGY.TSX-V). The Cook Zone 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”. A 70% Mineral Mountain and a 30% Golden Harp joint venture has been formed to further explore Block A with a renewed focus to drill “up ice” from two defined “gold in till” dispersal trains highlighted by a recently completed Reverse Circulation drilling and pit sampling program (news release dated August 30, 2011). The RC program recorded the highest concentration of persistent, locally derived, pristine gold grains were identified from “as-yet-undiscovered” gold zones north of the Decker and Hydro Creek historical zones. Several fences of drill holes are planned to track the sources of the gold grains.
“Since 1972, Stu Averill and his team at Overburden Drilling Management Limited have had incredible, well-documented discovery success by tracing gold grains recovered from till sampling to their source in glaciated terrains. We are optimistic that systematic diamond drilling up-ice from the newly-defined dispersal trains will result in locating their source or sources.” 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 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 leading explorer in the district. Finally, the Company’s recently acquired 11 km by 4 km Straw Lake Gold Project 70 km northeast of the Rainy River 5+ million ounce gold deposit. This project offers unusual potential to host both high grade epithermal and/or mesothermal gold mineralization and lower grade 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
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
(778) 383-3975 email@example.com
Kin Communications Inc.
(604) 684-6730 firstname.lastname@example.org
or visit our website: www.mineralmtn.com
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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, including statements about the Offering. 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.