- Extensive structural mapping derived from the data
- A major NW-SE fault system, believed to be an important mineralizing control, was delineated
(Vancouver, August 23, 2012): Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) (OTCQX: “MNRL”) is pleased to report that the Company has completed a remote sensing airborne Light Detection And Ranging (LIDAR) survey and a high resolution helicopter-borne Tri-Axial magnetometer survey over the area encompassing the Holy Terror Gold Project, including the 7 historical high grade gold producers presently held by the joint venture. The airborne magnetometer survey was flown at closer than industry standard flight line intervals of 25-meters and the improvement in magnetometer design has provided very accurate data. A total of 319 line kilometers were required to cover an area of approximately 10 sq. mi. for both surveys.
A LIDAR survey offers the possibility of acquiring high-resolution (ca. 1-4 m) topographic data through dense forest cover. Airborne LIDAR is an important tool for geoscience research especially in tracing lithological units and mapping fault systems that, in the Keystone Mining District, are vital conduits for the emplacement of gold mineralization. Complementing the LIDAR survey, the high resolution airborne magnetometer survey has successfully traced the underlying geology especially the banded iron formation that commonly hosts the gold mineralization in the Keystone Mining District. To the Company’s knowledge this detailed airborne survey represents the first of its kind ever flown in this gold district.
In a news releases dated May 31, 2012 and August 20, 2012, the Company announced the signing of an option agreement with the Holy Terror Mining Company, a 120-year old privately-held mining company that owns 14 patented mineral claims and 22 unpatented mineral claims and subsequently the purchase of the Bullion Mine Property from Energy Fuels Corporation for an area totalling 721.8 acres located along the southeastern extension of the Homestake Formation in the Keystone Mining District of South Dakota, U.S.A.
Nelson Baker, President and CEO of Mineral Mountain comments: “The extreme detail of both the airborne magnetics and the LIDAR data has proved very successful in clearly defining the most prospective units of gold-bearing iron formation within the Holy Terror Project and tracing the NW-SE trending regional fault system that are potentially an important mineralizing control for the area”.
The Holy Terror gold project is managed by Kevin Leonard, a Professional Geologist with greater than 30 years of exploration experience. Wally Rayner (P.Geo.), the Company’s VP of Exploration, has verified the contents of this press release and is the Qualified Person for this project.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact
Brad Baker, Vice-President Corporate Development & Director
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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 information” under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking-information. Forward looking information consists of 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 information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward-looking information. Factors that cause the actual results to differ materially from those in forward-looking information 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 information 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 the forward-looking information 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.