Standby Gold Zone Considered to Be a Homestake-Style Discovery: Major Volume of Untested Gold Potential Corridor Requires Both In-Fill Drilling and Continued Exploration Drilling Down Dip and Down Plunge MMV : TSXV MNRLF
Standby Gold Zone Considered to Be a
Homestake-Style Discovery: Major Volume of
Untested Gold Potential Corridor Requires Both
In-Fill Drilling and Continued Exploration Drilling
Down Dip and Down Plunge
MMV
: TSXV
MNRLF
:
OTCQB
M8M
:
FRANKFURT
VANCOUVER
,
April 9, 2020
/CNW/ - Mineral Mountain Resources Ltd. and Mineral Mountain Resources
(SD) Inc. ("
Mineral Mountain
" or the "
Company
") (TSXV: "MMV") are pleased to report that Standby
Gold Project represents a new Homestake-style gold discovery, 25 kilometres south of the Homestake
Mine, that shares the critical characteristics of the Homestake Gold System,
including predictability
and grade
of gold mineralization
, structural control of mineralization along late near-vertical shear
zones which cut complexly folded and thickened iron formation, and a style of mineralization
characterized by hydrothermal chlorite alteration, quartz veining and silicification, remobilized pyrrhotite,
and coarse grained euhedral arsenopyrite that is broadly correlated with gold mineralized intervals.
Upper Tail Gold Zone
The Standby Mine Gold Zone, mined historically in the early 1900's, considered to be upper-tail type
gold mineralization has now been extended to a plunge length of
850 metres
(2,788 feet)
as a result of
drilling during the 2018 and Q4-2019-Q1-2020 campaigns that extended the mineralized trend an
additional
400 metres (1312 feet)
. Within this gold-bearing corridor 4 drill holes, BLG-UG3
(81.93
gram-metres Au)
, ST18-006
(39.84 gram-metres Au)
, ST18-003
(21.10 gram-metres Au)
and SM86-
01
(26.18 gram-metres Au)
, are considered to be well within an underground grade threshold of
16.00
gram-metres Au
. (See Figure 1 below). The Company believes that these concentrations of gold
mineralization are indicative of
upper tail-type gold mineralization
transitioning down plunge to
the
upper portion of an ore centroid
.
A program of
in-fill drilling
is planned to intersect the Standby Mine Gold Zone at 40-metre centres
testing a volume of gold-hosting iron formation measuring about 200 metres wide by 400 metres by 850
metres down plunge, designed to define an inferred gold resource.
Larger Gold Potential Corridor
The Company integrated pathfinder elements such as arsenic, which typically forms a broader halo
around gold mineralization, and alteration intensity including quartz veining, hydrothermal chlorite
alteration, abundance of coarse-grained euhedral arsenopyrite and remobilized gold-related pyrrhotite,
into its 3D model. (See Figure 2 below). This program has been successful in providing the Company's
technical team with vectors to a large volume of untested potentially gold-hosting iron formation that is
largely down dip and down plunge beneath the existing historic drill holes and Mineral Mountain drill
holes. Based on 3D modeling of the iron formation within the favorable structural and alteration corridor,
the untested trend beneath existing historic and Mineral Mountain drilling extends for at least
1800
meters (5905 feet)
down plunge, averages
200 meters (656 feet)
wide and ranges from
100 meters
(328 feet)
to
400 meters (1312 feet)
in height. Comparison with the Homestake Gold System suggests
that this iron formation, low in the sequence along the favorable structural corridor, is typically the first to
react with ascending hydrothermal fluids, and therefore the most likely the locus of significant economic
grade concentrations of gold within the iron formation.
A 4-hole 3200-meter exploration drill program designed to test the high-grade gold intersection of
10.29
gm/t over 3.1 meters
previously recorded by Homestake Mining in 1986 and considered to be in the
upper part of an
ore centroid
is scheduled to begin as soon as possible.
Additional figures documenting the integrated targeting study can be found here:
https://mineralmountainresources.com/wp-content/uploads/2020/04/MMV_PPT_For_NR_2020_04_09.pdf
This systematic exploration approach, namely seeking gold - associated hydrothermal alteration in
addition to just gold values, had proven very successful for Homestake Mining Company during their
exploration and development programs. This approach resulted in the discovery of the
15-Ledge
gold
mineralization within the Homestake Mine complex, and the
Homestake North Ledge
discovery several
kilometers northwest of the mine complex.
Dr.
Robert Brozdowski
, V. P. Exploration of Mineral Mountain Resources, Ltd., noted "Our synthesis has
defined a broad high gold potential corridor, and has determined where this corridor intersects a large
volume of untested iron formation low in the sequence. This structurally lowest iron formation target is
most likely to have been mineralized by gold-rich ascending hydrothermal fluids. Drill testing this large
target provides our best exploration opportunity as we progress down-dip and down-plunge in this large
system."
Nelson W. Baker
, President and CEO of Mineral Mountain Resources Ltd. says "We have established
without a doubt that the world's richest and largest gold deposit, the Homestake Mine, was not a unique
event. In addition to the Standby Gold Zone that has multi-million ounce potential, we have
three
similar-
scale high priority gold targets within our 7500 acre contiguous land holdings in the most fertile geology
in the Homestake camp".
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
, P.Eng., the President and CEO of Mineral Mountain Resources Ltd. and a Qualified Person for
this project. All exploration activities at the Rochford Project are carried out under the strict supervision
of
Kevin Leonard
, P.Geo., also a Qualified Person for this project.
Quality Control
Drill core samples are transported, handled and stored with chain of custody procedures. Core is sawn
or split in representative halves with one half submitted to the laboratory for analysis and the second half
saved for archival purposes. Typical core samples are 0.5 to 1.5 m in length. Gold (Au) assays are by
30 g fire assay with atomic absorption finish with a lower limit of 0.005 ppm and upper limit of 10 ppm.
The 48 element geochemical package, including silver (Ag), uses a 4 acid digestion followed by Induced
Coupled Plasma with Atomic Emission Spectrometry (ICP-AES) and Mass Spectrometry (ICP-MS),
when gold values are greater than 10 ppm then the sample is reanalyzed using fire assay with a
gravimetric finish. All over limits are also analyzed using the screened metallic method.
The laboratory for the Standby Project is ALS located in
Reno, Nevada
. ALS is a certified laboratory
that used standard reference material and duplicate sampling to ensure quality control. Mineral Mountain
routinely sends a set of 4 blind standards as well as one blank sample with every shipment of core. The
results of the analysis of the standard material are continuously reviewed to ensure quality assurance
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 such term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward looking information
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.
Figure 1: Standby Gold Trend Long Section illustrating significant gram-meters Au intersections (CNW
Group/Mineral Mountain Resources Ltd.)
Figure 2: View to Northwest toward Standby Mine, illustrating all of the components used to define the
Standby Gold Potential Corridor. Cross-hatched area below existing drilling defines untested area within
the gold potential corridor and within the modelled iron formation. (CNW Group/Mineral Mountain
Resources Ltd.)
SOURCE
Mineral Mountain Resources Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/April2020/09/c2952.html
%SEDAR: 00029624E
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 09-APR-20