Mineral Mountain Announces Appointment of CFO Mmv-TSX-V Mnrlf-OTCQB M8M:FRANKFURT
MINERAL MOUNTAIN ANNOUNCES
APPOINTMENT OF CFO
MMV-TSX-V
MNRLF-OTCQB
M8M:FRANKFURT
VANCOUVER, BC
,
Jan. 21, 2022
/CNW/ - Mineral Mountain Resources Ltd. ("
Mineral Mountain
" or
the "
Company
") (TSXV: MMV) (OTCQB: MNRLF) (FRANKFURT: M8M) is pleased to announce
that
Tom Wilson
has joined Mineral Mountain as Chief Financial Officer ("CFO"). Mr. Wilson, an
experienced CFO in the resources industry, replaces
Maribel Jordan
who has resigned from her role
with the Company for personal reasons.
Mr. Wilson is a Chartered Public Accountant ("CPA") with over 43 years of senior financial
experience in areas of financial planning and management including corporate governance,
government and securities compliance for both public and private companies. Within the junior mining
sector, he has been the CFO for numerous private and public companies. Mr. Wilson is a graduate
of PwC Canada.
Nelson Baker
, President and CEO of Mineral Mountain said, "On behalf of the members of the
Board, I am delighted to welcome Tom to our team. We look forward to his participation and how
we can benefit from his extensive background in financial management as we advance Mineral
Mountain."
"I would also like to acknowledge and thank
Maribel Jordan
for her contributions to the Company as
CFO over the past years and wish her all the best in his future endeavors," said Mr. Baker.
About the Standby Mine Gold Target
All geologic, geophysical and drill results to date suggest a Homestake ledge-type target exists at
Standby and is potentially of large scale. Mineral Mountain's goal is to extend the Standby Mine gold
mineralization down-plunge through systematic step-out drilling along strike and down-plunge in the
Upper Tail to discover an
Ore Centroid
at depth.
Approximately 50,000-60,000 tons of ore were mined historically from the Standby Mine before
1950, mostly from oxidized ores in four large open cuts connected by underground workings to a
maximum depth of 130 meters. Historic outcrop surface sampling from the walls and rim of the open
cuts averaged
9.1 m
@ 10 g/t Au
with grab samples up to
38 g/t Au
. A shaft was sunk to the
130
m
(425- ft) level and underground channel sampling assayed
10.1 m
@ 6.0 g/t Au
. Historical drilling
at the Standby Mine consists of
16,360 m
(53,677 ft) across 45 core holes, all in the Upper Tail.
MMV's two previous core drilling campaigns between 2018 and 2020 extended known gold
mineralization from the bottom of the historic Standby Mine workings from 130 meters below surface
to a total plunge length of 850 meters.
Mineral Mountain's proposed drilling program in the Rochford District will focus on the Standby Mine
Target and is fully permitted for drilling, subject to this proposed financing and COVID-19
restrictions. The 9,000-meter drilling program as currently constituted will be focused on three target
areas in general: 1) Several additional holes around MMV hole ST18-006, which cut
43.5 m
@ 1.21
g/t Au
including several higher-grade internal zones such as
2.5 m
@ 4.39 g/t Au and
1.50 m
@
5.24 g/t Au.
This hole was near historic drill hole BLG-UG-03 that cut
25.91 m
@3.19 g/t Au
,
including
10.67 m
@ 5.14 g/t Au
. These intercepts were 100-
150 m
below surface and represent
the opportunity to outline a near-surface high-grade ore shoot in the Upper Tail environment.
A series of proposed holes to intersect the same depth interval cut by historic Homestake Mining
Co. drilling in the SM-86 and SM-87 holes thought to be the upper parts of the Standby Ore
Centroid. These historic holes represent a significant step-off along strike and down-plunge from the
Standby Mine and the deepest historic exploration work performed at the Standby Target Trend
(1,000 and
1,800 m
down-plunge from surface respectively). These results were highly encouraging,
including
3.05 m
@ 10.23
g/t Au. These two holes potentially intersected the crucial Upper Tail-Ore
Centroid transition and need to be replicated by MMV and further tested with systematic step-out
drilling to confirm internally consistent high grade gold is present.
Jeff Hrncir
, the Company's chief geologist commented "Confirming the existence of an Ore Centroid
at Standby would be a game-changing discovery for Mineral Mountain Resources and set the stage
for future resource delineation drilling."
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W. Baker"
, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward looking information
This release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation ("Forward-looking information"). Forward-looking information includes, but is not
limited to, statements that address activities, events or developments that the Company expects or
anticipates will or may occur in the future, including such things as future business strategy,
competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and
with respect to exploration results, the timing and success of exploration activities generally,
permitting time lines, government regulation of exploration and mining operations, environmental
risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any
pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking information can be identified by the use of words such as
"plans", "planning", "planned", "expects" or "looking forward", "does not expect".
SOURCE
Mineral Mountain Resources Ltd.
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For further information:
Brad Baker, Vice-President Corporate Development & Director, (778)
383-3975 [email protected], Or visit our website: www.mineralmtn.com
CO: Mineral Mountain Resources Ltd.
CNW 17:56e 21-JAN-22