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VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 22, 2016) – Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company“) (TSX VENTURE:MMV) is pleased to announce that the Company has increased its 100%-owned land position in the Rochford Gold District to 5,447 acres (2179 hectares) by staking an additional 37 unpatented lode mineral claims totaling 606 acres (242 hectares). In all, the Company now owns a contiguous land position located in Lawrence and Pennington Counties totaling 345 unpatented lode mineral claims. The northern boundary of the Company’s land holdings is located 18 km (11 mi.) south of the Homestake Mine deposit. The close similarities between the Homestake Mine and the Rochford District in host rock composition, structural style, metamorphic grade, and gold mineralization suggest that the Rochford District has the potential to contain a large gold resource.
The property covers four high priority gold targets that are situated within two structural corridors that host Homestake Ledge-type gold mineralization associated with banded iron formation documented by Noranda, Newmont, Western Mining and Homestake between 1982 and 1996. All four priority targets, if traced systematically down the limb fold plunge by diamond drilling are considered to be above average for the discovery of Ledge-type gold deposits. The four gold targets, three along the 5.5 km long Standby-South Standby-Lookout Mine Trend and the fourth along the 1 km long Cochrane Trend, require a well-planned drill program initially totaling 9,000 meters of drilling. (see release dated March 7, 2016)
The Rochford Gold District
Despite the similarities to Homestake, and compelling evidence for gold mineralization, the Rochford District has remained under explored. The Rochford Gold District is located approximately 26 kilometers south of the world’s largest banded iron formation hosted gold deposit, the Homestake Mine, which produced nearly 40,000,000 ounces of gold averaging about 10.89 g/t Au (0.350 opt) over the life of the mine from 1876 to 2001.
The geology of the Rochford District is remarkably similar to that at the Homestake Mine with gold hosted in multiple deformed Proterozoic carbonate facies and local sulfide-facies iron formation that has typically been metamorphosed to cummingtonite/grunerite phyllites/schists and chlorite schists. There are numerous, relatively shallow past producing gold mines and prospects in the district that were developed in the late 1800’s and early 1900’s. Mineral Mountain’s property package covers approximately a 9 km long segment of auriferous iron formation considered to have many geological and mineralogical aspects to the Homestake Mine 26 km to the northwest.
The Rochford District covers more than 78 square kilometers and has been explored intermittently by several major companies like Getty, Newmont, Noranda, Western Mining and Homestake Mining in the 20th century. The last serious exploration for the Rochford District was completed in 1997. This district appears to have been forgotten and/or overlooked especially after the closing of the nearby giant Homestake Mine in 2001. We believe that because Homestake was so dominant in the Black Hills for over 125 years, many explorers erroneously assumed that the gold belt been thoroughly explored.
A plan that shows locations of historic mines and prospects as well as important patented and unpatented claim locations has been posted on the Company’s website www.mineralmtn.com.
Qualified Persons
The technical information in this news release has been prepared 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 supervision of Kevin Leonard, P.Geo., also a Qualified Person for this project and conducted by a highly technical team with several years exploring for iron hosted gold deposits in the Black hills and globally.
About Mineral Mountain and the Rochford Project
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused primarily on the systematic exploration and, if warranted, the development of its large, 100%-owned Rochford Project located 26 km south of the Homestake Mine along the highly prospective gold belt trending through the Black Hills of South Dakota, U.S.A. The Rochford Project hosts repeating limbs and/or ledges along two structural corridors that hosts commercial grade, iron hosted gold mineralization that require systematic diamond drilling. The project now totals 345 contiguous unpatented lode mineral claims covering approximately 5,447 acres.
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 labour 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 or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company’s publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
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Mineral Mountain Resources Ltd.
Brad Baker
Vice-President Corporate Development & Director
(778) 383-3975
[email protected]
www.mineralmtn.com
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Wed, 22 Jun 2016 12:00:00 GMT
