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Mineral Mountain Resources Ltd (2)
Symbol MMV
Shares Issued 72,355,403
Close 2019-09-17 C$ 0.175
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Mineral Mtn contractor begins drilling at East Limb

2019-09-18 08:20 ET - News Release

Mr. Brad Baker reports


Major Drilling, experienced in directional drilling technology for the mineral exploration industry, has began a 4,000-metre drill program to target historic high-grade gold intersections and extend gold mineralization along the East Limb shear structure in iron formation. Only the initial 450 m plunge length of the structure was defined and partially tested during Mineral Mountain Resources Ltd.'s 2018 phase 1 drilling program. Historic intersections along the East Limb structure, which hosts the Standby mine, include BLG-UG3: 24.0 metres at 3.36 grams per tonne Au down plunge from the historic mine and SM87-3A: 3.10 m at 10.29 g/t Au intersected 1,800 m down plunge along the structure. The major benefits to employing directional drilling technology is that it enables the company to dramatically lower overall drill costs by utilizing shorter directional offsets from a deep trunk hole to test the gold-bearing structure along plunge rather than drilling each hole from surface, provides quicker turnaround for assays because of the reduced metre necessary to effect multiple penetrations of the mineralized zone and, importantly reduces the local environmental impact by utilizing fewer drill sites.

Scope of directional drill program

A trunk hole of up to 1,600 metres in length will be directed down the plunge of the East Limb structure using directional drilling technology toward two separate historic gold zones, target 1 (shallower) and target 2 (deepest), that are about 750 m apart. Several shorter offset holes will then be drilled between the two targets, including above and below targets 1 and 2, to more thoroughly explore the East Limb structure.

The Standby target -- thickened iron formation cut by a regional deformation zone

The Standby mine, a turn-of-the-20th-century producer, is situated 16 miles (25 km) south of the Homestake gold mine, the largest iron-formation-hosted gold deposit in the world, having produced over 40 million ounces of gold over its 125-year history at an average historical reserve grade of approximately 0.27 ounce per ton (8.38 g/t Au).

The Standby target is situated in the northern portion of the five-mile-long (eight km) Standby-Bloody Gulch-Lookout trend, and represents the southern extension of the Homestake corridor, which comprises tightly folded and thickened iron formation, the gold host rock, cut by numerous major northwest-trending, steep, mineralized structures. Based on 3-D modelling of the company's 2013 airborne magnetics, surface geological mapping and the control provided by several historic deep hole arrays completed by Homestake Mining in 1986 to 1987, the Standby target trend alone is of sufficient scale (multikilometre plunge length of structurally thickened iron formation) to host a major gold ore-bearing structure on the scale of the Homestake 9-Ledge, without even considering the numerous other major structural trends within gold-bearing iron formation present on Mineral Mountain's 30 square km Rochford district land package.

Drilling to date by Mineral Mountain has partially defined a gold-bearing, arsenopyrite-pyrrhotite mineralized, near-vertical shear zone in iron formation, approximately 30 m wide, striking 129 degrees azimuth, in structurally thickened iron formation which comprises a tight isoclinal, steeply dipping closed anticlinal structure forming the eastern limb of the Standby syncline. This structure, the East Limb structure, has been traced for over 400 metres to date in the company's 2018 drilling, and the company's database confirms that this gold mineralization also continues through a number of deep drill holes up to 1.8 kilometres down plunge that were drilled by Homestake Mining in 1986 to 1987. In 1987, Homestake drilled SM87-3A which intersected 3.1 m at 10.29 g/t Au at about 1,800 m down plunge. As one example from this trend to date, MMV drill hole ST18-006, intersected 2.12 g/t Au over 20 metres, including 4.39 g/t Au over 2.5 m and 5.24 g/t Au over 1.5 m, 230 m below surface. This drill hole is 50 m down plunge of historical drill hole BLG-UG3 which graded 3.36 g/t Au over 24 metres. The ST18-006 intersection occurs within a 34 m wide classic Homestake-style quartz vein-hydrothermal chlorite breccia with quartz flooding, 3 to 15 per cent coarse-grained arsenopyrite and 3 to 7 per cent pyrrhotite, within the host iron formation.

About Mineral Mountain Resources Ltd. and the Rochford gold project

Mineral Mountain Resources, through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused on the exploration and, if warranted, development of its 100-per-cent-owned Rochford gold project situated along the highly prospective Homestake gold belt in the Black Hills of South Dakota, United States. The Rochford project covers in excess of 7,500 acres and covers five major trends of structurally thickened auriferous iron formation comparable with the geological setting of the ledge-type gold mineralization developed at the Homestake mine.

Magnetic 3-D modelling of the company's airborne survey in 2013, combined with surface geological mapping and the compilation of historic drilling, highlights three high-priority exploration targets trends, including the Standby mine target, coincident with structurally thickened, sheared, gold-bearing iron formation within the Mineral mountain land package.

We seek Safe Harbor.

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