Mr. Nelson Baker reports
DRILLING ON MINERAL MOUNTAIN'S STANDBY MINE PATENTS BEGINS IN THE ROCHFORD DISTRICT, SOUTH DAKOTA, USA
Mineral Mountain Resources Ltd.'s planned phase 1 drill program consisting of a minimum of 12 drill holes totalling approximately 4,300 metres started Feb. 7 to test the down-plunge extension of the 300-metre-wide Standby mine gold structure partially developed from 1891 to 1909 by underground mining from surface to the 425-foot level. Three-dimensional mag modelling suggests that this high-priority gold target is a large magnetic body consisting of iron formation-hosted gold mineralization that may have the potential size to have district-scale discovery potential.
A total of 12 drill holes ranging between 300 m and 400 m deep are planned to intersect the wide Standby mine gold structure down plunge from the Standby mine 425-foot level. The first drill hole is spotted to intersect this gold structure at about 100 m below the 425-foot level proximal to hole S-1 drilled by Getty Oil in 1982. S-1 intercepted altered and locally quartz flooded iron formation with 3 to 10 per cent pyrrhotite and trace to 5 per cent arsenopyrite from 33.83 m to 71.32 m (111.0 feet to 234.0 feet) for a core interval of 37.5 m (near true width). Visible gold was observed in four different relatively short intervals. The entire interval was sampled and much of it had been sampled twice. No historical assay results are available for the remaining one-quarter core, but it is a very impressive looking intercept.
Up plunge from hole S-1, a historic underground drill hole, BLG-UG03, designed the test the Standby mine horizon 75 metres below the 125-foot level, intersected 4.61 grams per tonne across 12.19 metres. A channel sample collected from one of the mineralized gold zones of quartz-flooded iron formation on the 425-foot levels assayed 6.22 grams per tonne gold across 10.5 m.Between 1986 and 1988, Homestake drilled three separate widely spaced stepout cross-sections down plunge from the Standby mine shaft. The stepout cross-sections were designed to intersect the major gold-bearing fold structure at 750-metre intervals down plunge. Remarkably, in 1987, Homestake SM87-3A, located 1,500 metres laterally and about 560 metres vertically and 1,500 mdown plunge from the Standby mine deposit, intersected a broad interval of gold mineralization within a thick unit of iron formation, including a high-grade interval grading 10.29 grams per tonne across 3.1 metres.
The Standby mine patents are located approximately 26 kilometres (16 miles) south of the world's largest, richest iron formation hosted gold deposit, the Homestake mine, which produced over 40 million ounces of gold from 11 ledges of ore averaging approximately 10.89 g/t Au(0.350 ounce per ton) over the life of the mine from 1876 to 2001.
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, PEng, the president and chief executive officer 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, PGeo, also a qualified person for this project.
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 of its 100-per-cent-owned Homestake South project situated in the Rochford district along the highly prospective Homestake gold belt in the Black Hills of South Dakota.The Rochford project covers approximately 7,500 acres and straddles five major trends of structurally thickened auriferous iron formation that host ledge-type gold mineralization.
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