Mineral Mountain Exploring Homestake Gold Trend

 

VANCOUVER, BC - Mineral Mountain Resources Ltd. reported on activities from the 2013 exploration program at its Holy Terror Project (HTP) located 55 kilometres southeast of the formerly producing Homestake Mine, located in South Dakota. Since the Company acquired the Holy Terror Project in Q2 of 2012 considerable progress has been made by significantly advancing and growing this relatively unexplored area. Since acquiring the Holy Terror Project, the Company has exceeded its first and second anniversary exploration expenditure commitment of US$4,000,000.

The Company's Holy Terror and Rochford Gold Projects are located along the Homestake Gold Trend in the Black Hills of South Dakota and represent above average exploration and development targets for high grade gold given their proximity to the past producing Homestake Mine and also based on the sheer number of turn of the century high grade past producers. Until now, these two areas have essentially been forgotten over time from a development standpoint due to a number of factors. Depressed gold prices and disjointed patented lands consolidation were the major barriers to past development because meaningful consolidated land packages were not assembled to be explored and developed systematically. In total, the Company has patented and unpatented lands that host 8 former high grade gold producers in the Holy Terror district and another 8 shallow high grade producers in the Rochford district. Between the two project areas, the Company now controls approximately 30% of the Homestake Gold Trend.

When the Holy Terror Project was first presented to the Company in March 2012, a total of 450 acres of patented and unpatented lands comprised the project area. Since that time, the Company has consolidated in excess of 5,000 acres of lands in the Holy Terror area through a combination of staking and property purchases. The Rochford Project is 100% owned by Mineral Mountain and represents another 4,400 acres of unpatented mining claims covering 8 former past producers. The Company is currently the majority land holder in these historical mining districts.

The Company recognized the lack of historical geophysical data available for the two project areas and engaged Fugro Airborne Surveys to perform detailed magnetic and electromagnetic surveys to assist in near mine and regional drill targeting. Because the geology that hosts the high grade gold mineralization is akin to that at the Homestake Mine (hallmarked by strongly magnetic iron formation), the detailed magnetic surveys have proven invaluable in detailing the magnetic iron formation and identifying new areas for drill targeting. In conjunction with the high resolution magnetic survey, the electromagnetic survey successfully identified new areas of conductive rocks, especially in overburden covered areas, that are spatially associated with existing gold mineralization and have identified a plethora of new, previously untested drill targets.

Complementing the airborne geophysical surveys, the Company conducted a high-resolution airborne laser mapping survey (LiDAR) over the Holy Terror Project area designed mainly to accurately locate all of the historical workings, trenches, pits, adits and drill roads that were excavated pre-1940's along the gold trend. As well, the LiDAR proved to be effective in tracing the major faults trending through the area and providing an extremely detailed topographic map.

The Company drilled 32 diamond drill holes totalling 6,793 metres during the first two phases of exploration at the Holy Terror Project in 2012-2013. These holes targeted various areas including the Bismarck, Keystone, Bullion and Holy Terror Mines and not only confirmed the known mineralization but also expanded the mineralized horizons and demonstrated the gold systems ability to have depth potential.

It appears that the mineralization intersected in the drilling is hosted in intense brittle-ductile shear zones with localized brecciation and gouging. Parts of the shear zones contain a series of lens-like zones and bodies of glassy, dark coloured (smoky) quartz associated with and surrounded by sections of iron rich chlorite which probably have replaced all pre-existing metamorphic mineral assemblages. The quartz and silicates are intergrown with pyrite, pyrrhotite and arsenopyrite. Gold grade appears to have a rough correlation with arsenopyrite.

Diamond drilling on the Holy Terror Project has been temporarily placed on standby as Company staff model the newly defined gold mineralization from the previous two phases of drilling. Planning and preparation for the Phase III work programs, which will include expansion drilling, are underway.

Wally Rayner, Vice President Exploration, said, "Our drilling to date demonstrates the excellent potential to expand our many existing high grade gold zones to depth and along strike and, equally important, has confirmed the discovery of new zones in proximity to the historic mining areas. As evidenced by our two drill programs, our mineralized shoots are relatively closely spaced, sub vertical plunging and with depth potential. As well, we look forward to field checking the numerous airborne geophysical targets outlines by our airborne geophysical surveys. The planning of a Phase 3 definition drill program designed to expand the known gold zones between the Ida Florence and Holy Terror mine, a strike length of about 650 meters is also in progress."