Mineral Mountain Announces Receipt of Preliminary Airborne HELITEM Data
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/23/13 -- Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSX VENTURE: MMV)(OTCQX: MNRLF) is pleased to announce that preliminary data from the detailed Fugro HELITEM survey on the Holy Terror and Rochford Projects located southeast along strike of the formerly producing Homestake Mine in South Dakota, USA has been received.
Existing Mineralization Confirmed - New Targets Generated
The preliminary results for the HELITEM airborne magnetics and electromagnetics surveys from the Holy Terror and Rochford Projects have been received and are currently being reviewed. The HELITEM system is a proprietary technology belonging to Fugro Airborne Surveys and is a helicopter towed electromagnetic system designed to elicit a measurable geophysical response from conductive rocks. The majority of mineralization styles which host gold at both the Holy Terror and Rochford Projects are amenable to detection from this advanced geophysical system.
Based upon historical records, this is the first time that either area has been flown with any electromagnetic system or in such great detail. Initial assessments of the preliminary data indicate extremely positive correlations between the known gold mineralization at the Bullion, Keystone and Bismarck mines and the HELITEM responses. Application of these same signatures has yielded a plethora of new, previously unidentified target areas which will be ground-truthed and prospected by exploration staff in Q2 2013. This survey has yielded numerous significant new targets in undrilled areas of the properties.
In total, 997 line kilometres were flown at a resolution of 100 metre line spacings and have provided an amazing degree of detail for these project areas.
Commentary
Nelson W. Baker, President and CEO of Mineral Mountain comments:
"With the completion of this airborne survey we have now covered in excess of 1/3 of the Homestake Gold Trend".
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. The exploration activities at the Holy Terror Project are carried out under the supervision of N. Wally Rayner, P.Geo., Vice President of Exploration and implemented by Project Manager Kevin Leonard, P.Geo., both being Qualified Persons for this project.
About Mineral Mountain
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused on the exploration and, if warranted, development of its key assets, the Holy Terror Project in the Keystone Mining district and the 100%-owned Rochford Project both located along the Homestake Gold Trend in the southeastern part of the Black Hills of South Dakota. The Holy Terror Project is centered along the southwestern extension of the Homestake Gold Trend and covers approximately 4,000 acres straddling a major gold bearing structural corridor measuring about 15 km in strike length and 1.5 km in width. The Holy Terror and Rochford Projects contain 17 historic gold mines, eight of which within the Holy Terror Project. Production of these mines came from early Proterozoic gold mineralization associated with iron formation, and shear zones similar to the deposits at the former Homestake gold mine which, over 120 years, produced over 40 million ounces of gold. The Holy Terror Project is very well located near Rapid City where it can be easily accessed by a network of roads and has hydro-electricity and modern internet services to the drill site. As well, the area has a skilled labor force and is a low cost exploration area. South Dakota has low political risk and a jurisdiction that embraces mineral development.
A technical report prepared by SRK Consulting entitled "Technical Report for the Holy Terror Project, South Dakota, USA" dated June 20, 2012 (the technical report) is available on the Mineral Mountain website (www.mineralmtn.com) or under Mineral Mountain's profile on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
Nelson W. Baker, President and CEO
Reader Advisory
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.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Mineral Mountain Resources Ltd.
Brad Baker
Vice-President Corporate Development & Director
(778) 383-3975
bbaker@mineralmtn.com
www.mineralmtn.com