Mineral Mountain Further Expands Its Rochford Project Holdings by 1793 Acres (2.8 Sq. Miles)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 31, 2016) - Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSX VENTURE:MMV) is pleased to announce the acquisition, through professional claim staking, of an additional 105 unpatented lode mining claims totaling 1,792.6 acres (725.25 hectares) contiguous with our current 5,656 acre (2289 hectare) Rochford Project located within the Homestake Gold Trend in the Black Hills of South Dakota. In total, Mineral Mountain now has assembled a contiguous land package totaling 461 unpatented lode mining claims for 7448.6 acres (3014 hectares) and 9 patented lode claims (Standby Mine) for 67.45 acres (27.3 hectares). A revised location plan outlining the Company's Rochford Project holdings can be viewed on its website at www.mineralmtn.com.
The new claims constitute a strategic acquisition for the purpose of pursuing extensions of our currently identified exploration targets and developing new target opportunities. These strong gold targets were formulated from an integration of the Company's high-resolution, low level VTEM survey flown in 2013, existing extensive soil and rock geochemistry and recent field mapping complimented by the most comprehensive database ever assembled for the Rochford District.
The Rochford Gold District is under-explored and since 1997 has been virtually overlooked by explorers during the most recent gold cycle between 2004 and 2013. This Proterozoic greenstone belt has excellent geologic, structural and alteration analogies to the Homestake Gold District only 18 km (11 miles) to the north-northwest and presents a unique opportunity to discover major ore ledges along three structural corridors trending through the belt. The Company's experienced technical team have a clear targeting criteria and an exploration methodology that was successfully utilized by Homestake Mining Company during the 1980's era where several economic gold discoveries were identified proximal to the mine system.
Mineral Mountain's property package covers five high priority gold targets that are situated within three structural corridors that host Homestake "ledge-type" gold mineralization associated with banded iron formation well documented by Getty, Noranda, Western Mining and Homestake between 1982 and 1996. The five large-scale gold targets, three along the 5.5 km long Standby-South Standby-Lookout Mine Trend, the fourth along the 3.0 km long Cochrane Trend and the fifth along the 3.0 km long Silver Creek Trend, will require a well-planned program initially totaling a minimum of 10,000 meters of drilling. In aggregate, the five gold targets total 11.5 km of a highly prospective exploration environment. The Company has engaged the professional services of FMG Engineering, a firm based in Rapid City, South Dakota to assist Mineral Mountain through the drill permitting process.
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 supervision of Kevin Leonard, P.Geo., also a Qualified Person for this project.
About Mineral Mountain Resources and the Rochford Gold Project
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 100%-owned Rochford Gold Project situated along the highly prospective Homestake Gold Belt in the Black Hills of South Dakota, U.S.A.
Since 2013, the Company has continued to expand its land position in the Rochford gold district by professional claim staking and also by purchasing strategically located private properties that fall along three major sub-parallel structural trends that host Ledge-type gold mineralization similar to those developed at the Homestake Mine just 19 km to the north. The Company now owns the largest contiguous land position in the Rochford greenstone belt and now possesses by far the largest and most comprehensive database for the district in modern day exploration history! The Rochford Project is vastly under-explored and has the potential to host several district scale gold discoveries.
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.
Contact
Mineral Mountain Resources Ltd.
Brad Baker
Vice-President Corporate Development & Director
(778) 383-3975
bbaker@mineralmtn.com
www.mineralmtn.com