Mar 18 2015
Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") is pleased to report that the Company has commenced a drill program consisting of eight holes totalling 1,500 meters (5,000 feet) designed to expand two of the highest grade gold deposits located within the 4129-acre the Holy Terror Project.
Past historical development and limited diamond drilling clearly indicate that the Keystone Mine North Extension and the Bullion Mine gold deposits are open for expansion along strike and down plunge. A number of exceptional, high grade gold intersections over robust mining intervals were recorded historically in both gold zones that were followed-up by systematic diamond drilling.
The Holy Terror Project is located in the mining friendly state of South Dakota, U.S.A., about 55 kilometres southeast of the Homestake Mine, the richest and deepest gold mine in the Western Hemisphere. This drill program, which is scheduled to commence in mid-March, will specifically target the expansion of both high grade gold zones along strike and down plunge.
Bullion Mine and Keystone Mine North Extension
Both the Bullion Mine and the Keystone Mine North Extension are located approximately 550 metres southeast of the Bismarck Mine within a 300 meter wide, crustal-scale regional fault zone that hosts five "turn of the century" gold producers within a strike length distance of about 650 meters. This regional fault zone host three parallel gold horizons, the Holy Terror Mine, the Keystone and the Bullion, that are approximately 150 meters apart and trend northwesterly toward the Bismarck Mine. Well known Dr. Graham Wilson, P. Geo., conducted a recent petrographic study on the Company's Phase I and II drill core on the mineralogy of the Holy Terror drill core and his study concluded that: "The Holy Terror suite of rocks in this study display numerous similarities with the Homestake Mine ores, in terms of host rock, ore mineralogy, textures and general paragenesis."
Near the end of the Company's Phase II drill program completed in March 2013 (March 27, 2013 news release), Hole HT-13-032 successfully intersected both the northwestern extension of the Bullion Mine gold deposit near surface and the Keystone Mine North Extension. Of importance, Hole HT-13-032 intersected this latter zone 25 metres to the northwest and at the same level as defined by historical Hole KG94-70 (1994 Energy Fuels Corporation), which intersected 16.88 g/t (0.49 oz/t) Au over 3.35 metres (10.7 feet). Hole HT-13-032 successfully confirmed this high grade gold mineralization having intersected 10.47 g/t (0.31 oz/t) Au over 6.00 metres (19.2 feet).
The surface expression of the Bullion Mine horizon was also tested by the same Hole (HT-13-032) returning 5.00 g/t (0.15 oz/t) Au over 10.52 metres (33.7 feet). This intersection expands the Bullion Mine zone and remains open to the northwest and to depth.
Note: All width intervals quoted above are drill widths and not true widths.
Commentary
Nelson W. Baker, President and CEO of Mineral Mountain comments:
"As has been demonstrated by our previous two phases of drilling, the exploration potential of the Holy Terror Project is quite simply above average. We are particularly encouraged with the excellent distribution and continuity of the gold mineralization throughout the intersected intervals in the Bismarck, Bullion and Keystone North Extension zones. All of the zones are open for expansion along strike and to depth. This project stands out from most others because the high grade gold mineralization is near-surface and possesses robust mining widths. We believe that, because of the high grade tenor and the robust widths recorded in the Keystone North Extension and in the Bullion Mine horizon, these two targets offer excellent potential to host a commercial gold resource."
Qualified Persons
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved by Nelson W. Baker, P.Eng., the President and CEO of Mineral Mountain Resources Ltd. and a Qualified Person for this project. The exploration activities at the Holy Terror Project are carried out under the supervision our Project Manager Kevin Leonard, P.Geo., another Qualified Person for this project.
About Mineral Mountain and Its Black Hills Area Properties, South Dakota
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused on the exploration and, if warranted, development of its key assets, the Holy Terror Project in the Keystone Mining district and the 100%-owned Rochford Project both located along the Homestake Gold Trend in the southeastern part of the Black Hills of South Dakota. The Holy Terror Project covers 4129.19 acres straddling a major gold bearing structural corridor measuring about 15 km in strike length and 1.5 km in width. The Rochford Project covers approximately 4,466.46 acres straddling about 9 km of the gold bearing structure and 2 km in width. Collectively, Mineral Mountain controls property interests along 24 km of the Homestake Gold Trend. The Holy Terror and the Rochford Project contain 17 historic gold mines, eight of which occur within the Holy Terror Project. Production from these mines came from early Proterozoic gold mineralization associated with iron formation, and shear zones similar to the deposits at the former Homestake gold mine which, over 120 consecutive years, produced over 40 million ounces of gold. Both the Holy Terror and Rochford Projects are located near Rapid City, are easily accessed by a network of roads and have hydro-electricity, and cell phone and internet services available to the drill sites. As well, the area has a skilled labor force and is a low cost exploration area. South Dakota has low political risk and a jurisdiction that embraces mineral development.
A technical report prepared by SRK Consulting entitled "Technical Report for the Holy Terror Project, South Dakota, USA" dated June 20, 2012 (the technical report) is available on the Mineral Mountain website (www.mineralmtn.com) or under Mineral Mountain's profile on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W. Baker", President and CEO