Mineral Mountain Reports New High-Grade Gold Discovery Rochford Project, Black Hills, South Dakota
Mineral Mountain Reports New High-Grade
Gold Discovery Rochford Project, Black Hills,
South Dakota
VANCOUVER, BC, Feb. 2, 2023 /CNW/ - Mineral Mountain Resources Ltd. ("Mineral
Mountain" or the "Company") (TSXV: MMV) (OTCQB: MNRLF) (FRANKFURT: M8M) is
pleased to announce the discovery of a major new zone of high-grade gold mineralization
in iron formation around the Standard Mine Target in the northeastern portion of the
Rochford Mining District (Figure 1). Sixteen grab samples averaging 64.9 g/t Au (2.01
opt Au) were collected from two new surface zones of mineralization during geologic field
mapping. The first zone, known as Birdsong, produced six grab samples from an area measuring
45 x 30 m averaging 39.3 g/t Au while the second, Jackpot, yielded ten samples averaging
80.3 g/t Au from an area measuring 25 x 15 m. These two targets are located 280 meters from
each other on interpreted separate fold structures within iron formation (Figure 2). Previous
Mineral Mountain sampling produced values up to 13.1 g/t Au from the dump of the Standard
Mine a short distance northeast of Birdsong.
Standard Mine Target Trend 2022 Sampling R esults
*all reported samples select grabs screened with pXRF
Sample Number Target Zone Au g/t Au opt
22MMV15 Birdsong 74.9 2.32
22 MMV16 Birdsong 13.0 0.40
22MMV17 Birdsong 13.7 0.42
22MMV18 Birdsong 67.7 2.10
22MMV19 Birdsong 17.4 0.54
22MMV20 Birdsong 49.3 1.53
22MMV21 Jackpot 90.4 2.80
22MMV22 Jackpot 55.9 1.73
22MMV23 Jackpot 53.8 1.67
22MMV24 Jackpot 79.7 2.47
22MMV25 Jackpot 50.9 1.58
22MMV26 Jackpot 80.5 2.49
22MMV27 Jackpot 114.5 3.54
22MMV28 Jackpot 69.2 2.14
22MMV29 Jackpot 72.7 2.25
22MMV30 Jackpot 135 4.18
During the course of routine mapping and geochemical trace element examinations of altered iron
formation in both outcrop and historic prospect workings around the Standard Mine with the aid of a
ThermoFisher Niton portable XRF analyzer, numerous grab samples containing compelling values of
indicated gold and/or gold-associated trace elements such as arsenic were found. These samples
were of distinctive deeply oxidized, often jasperoidal, siliceous zones within altered iron formation.
Additional grab samples pre-screened for possible precious metals with XRF collected on
subsequent field examinations were submitted for fire assay and found to contain high-grade gold
values up to 135.0 g/t Au (4.18 opt Au).
Investors should note that grab samples are not representative of the actual tenor of the
mineral occurrence and the results are only used to measure and identify the distribution of
the precious minerals present along this newly defined gold target.
Summer 2022 Exploration Program
Many major advancements were made this summer on the understanding of the northeast portion of
the Rochford Mining District, which remained poorly mapped and almost entirely unexplored. An
isolated historic shaft known as the Standard Mine was the only working of significance known prior
to this season. Over
250 mine workings have now been mapped
in the Standard Mine Target
Trend.
A large fold structure around
Silver Creek
measuring 0.7 km wide and 5 km long
exposes a
sequence of black carbonaceous slate, iron formation, quartzite and mafic volcaniclastics previously
thought to represent the ~1.88 Ga Flag Rock Group found throughout the rest of the
Rochford
District (Figure 2). However, an ongoing revision of the Precambrian stratigraphy by Mineral
Mountain informed by new LA-ICP-MS U-Pb age dating of the schists suggests the rocks in this
portion of the
Rochford
District are much older than areas further southwest. Detrital zircon
depositional ages of around 2.12 Ga and Nd T
DM
model ages on interbedded mafic volcanics of
approximately 2.05 Ga overlap well with the known ages of the lower and upper Homestake Mine
stratigraphy further north (2.16 - 2.01 Ga).
The profound implications of this age dating are that
the extensive iron formations in
Silver Creek
represent the Homestake iron formation found
in the Homestake Mine just 20 km to the north.
The
Silver Creek
structure
, now understood to be an anticline in the uplifted hanging wall of a
major thrust fault, contains at least
eight significant F
2
synclinal folds that
are similar in scale to
the individual ore-producing gold ledges in the Homestake Mine
. In the limbs of the anticline the
Homestake iron formation is typically 50 to 80 meters thick but in the superimposed F
2
fold hinge
regions, such as the vicinity of the Standard Mine shaft, the iron formation has been
structurally
thickened in excess of 275 meters
(true thickness unknown).
Historic documents relating to the Standard Mine have also recently been located that indicate
underground workings dug in 1880 encountered
bodies of mineralized iron formation ranging
from 12 to 18 meters wide at average gold grades of 6 to 9 g/t Au
. A small amount of this ore
was treated in a ten-stamp amalgamation mill on site with poor recovery before mine closure prior to
1900. To Mineral Mountain's knowledge, no drilling has ever been performed at the Standard Mine
or in the vicinity of the Birdsong and Jackpot zones.
Map 1. Mineral Mountain Land holdings (CNW Group/Mineral Mountain Resources Ltd.)
Map 2. Mineral Mountain Geophysical Signature of Standard Iron Formation (CNW Group/Mineral
Mountain Resources Ltd.)
*The preceding disclosure is based on information that is historical in nature and can not be
treated as NI-43-101 compliant verified by a qualified person. The historical estimates should
not be relied upon and there can be no assurance that any of the mineralization, in whole or
part, will ever become economically viable.
CEO Statement
Nelson Baker, President and CEO commented
: "
A major conclusion of this new age dating is that
the voluminous iron formation exposed around
Silver Creek
and the Standard Mine Target
represents the Homestake iron formation itself, which is the near-exclusive host to 60 million ounces
of gold resources at the Homestake Mine and, to our knowledge, has never been drill tested. This is
a major new important development in the exploration of the
Rochford
District. More importantly, the
high density of grab samples recording multi-ounce values in two discrete target zones over a large
area makes the Silver Creek Structure a very compelling gold target. In fact, the 700 x 5,000-m
footprint of the anticline is comparable in scale to the entire Homestake Mine system developed in
an area measuring 1,500 x
4,000 m
. Our previous airborne geophysical surveys in the
Silver Creek
area revealed a large positive aeromagnetic high flanked by strong conductors that can now be
confidently linked through surface mapping to thick zones of likely Homestake iron formation at
shallow depths. Drill permitting of this high- quality new gold target is in progress."
Granting of Stock Options
The Company has granted incentive stock options to officers, directors to purchase up to 1,875,000
shares at
$0.10 cents
per share for 5 years in accordance with the Company's Stock Option Plan.
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 and reviewed and approved by Nelson
W. Baker, BSc Geological Engineering, the President and CEO of Mineral Mountain Resources Ltd.
and a Qualified Person for this project. All exploration activities at the
Standby Mine
and at the
Company's other activities in the
Rochford
District are carried out under the strict supervision of
Kevin Leonard
, P.Geo., also a Qualified Person for this project.
ABOUT MINERAL MOUNTAIN
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources
(SD) Inc., began exploring in the Black Hills of
South Dakota, USA
in
July 2012
. The Company
recognized that the
Homestake Gold Trend
was not well explored using modern technology and
the potential of discovering another similar Homestake-style gold deposit with scale was above
average. Since 2012, the Company has expended well over
$13 million USD
in systematic, "state of
the art" exploration with a strong technical and highly experienced team largely focused on its 100%-
owned
Rochford Gold Project
physically situated 26 kilometers south of the world's richest and
largest orogenic gold deposit, the Homestake Mine.
With the recent staking of the 3.7 km long trend linking the Black Eagle-King of the West-Yellow Bird
Trend, the Rochford Gold Project now covers
7,835 acres
, covering at least four large magnetic
bodies that are considered to be structurally thickened auriferous iron formation comparable to the
ledge-type gold mineralization developed at the Homestake Mine. The Standby Mine Target, the
Company's flagship project is the most advanced gold exploration target within the Rochford Gold
Project is believed to possess the requisite volume of altered and gold-mineralized iron formation
needed to contain a large scale, economic gold resource. With the Standby Mine fully permitted with
an on-an site water well, financing is in progress to drill
9,000 m
at the Standby Mine deposit down
plunge.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W. Baker"
, President and CEO
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", "continues",
"scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate" or
"belief" or describes a "goal" or variation of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information is based on a number of material factors and assumptions, including,
the result of drilling and exploration activities, that contracted parties provide goods and/or services
on the agreed timeframes, that equipment necessary for exploration is available as scheduled and
does not incur unforeseen break downs, that no labor shortages or delays are incurred, that plant
and equipment function as specified, that no unusual geological or technical problems occur, and that
laboratory and other related services are available and perform as contracted. Forward-looking
information involves known and unknown risks, future events, conditions, uncertainties and other
factors which may cause the actual results, performance or achievements to be materially different
from any future results, prediction, projection, forecast, performance or achievements expressed or
implied by the forward-looking information. Such factors include, among others, the interpretation
and actual results of current exploration activities; changes in project parameters as plans continue
to be refined; future prices of gold; possible variations in grade or recovery rates; failure of
equipment
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.mineralmountainresources.com
CO: Mineral Mountain Resources Ltd.
CNW 08:00e 02-FEB-23