MMV-TSX-V
MNRLF-OTCQB
M8M:FRANKFURT
VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Mineral Mountain
Resources Ltd. and Mineral Mountain Resources (SD) Inc. ("Mineral
Mountain" or the ("Company") (TSXV: MMV) is pleased to report,
that over the last few months, the Company has significantly
advanced its understanding of underlying geological controls on
gold mineralization in the Rochford district, and, particularly in the
vicinity of the Standby Mine. This has been accomplished through
recently completed and ongoing structural, stratigraphic and
geochronologic studies, along with the application of innovative
geochemical and multi-isotopic vectoring methods. This on-going
work continues to highlight the Standby Mine as a significant
exploration target with many of the architectural elements needed
to host a major gold deposit.
The Standby Mine occurs at the intersection of a significant
body of Rochford Iron Formation thickened in a synclinal fold axis
with a regionally significant north-northwest-trending shear zone
that guided mineralizing hydrothermal fluids from depth. Ten
synclinal fold structures with a similar geometry and overall scale
referred to as "ledges" contained economic gold mineralization
mined at the Homestake Mine (see Figure 1 entitled
Standby/Homestake Comparison posted on the Company's website at
Rochford Standby – Mineral Mountain Resources Ltd. ). The
geometry of the iron formation at Standby is now understood in
detail from recently acquired high resolution geophysical surveys
and will aid in further subsurface drill targeting. A well-defined
zone of quartz veining, carbonate-chlorite alteration and shear
fabric can be traced through the Standby mine area for at least
3,650 meters (12,000 feet) on surface, and marks the position of
the shear zone that appears to control mineralization in this part
of the district. The long-lived structural history of this shear
zone, as the evidence suggests, is an important factor in the
development of a significant shear zone-hosted gold deposit.
Multiple episodes of this movement are indicated by the presence of
several generations of crosscutting and variably deformed
quartz-carbonate veins and shallow plunging drag folds associated
with oblique thrust movement along the shear zone. Compositionally
unusual albitite veins have intruded the shear zone at Standby and
importantly, have also been seen in the largest ledge systems in
the Homestake mine and in many of the world's significant orogenic
gold camps such as in the Timmins
gold district, northeastern Ontario.
Significant advances have also been made in the regional
connections between the Rochford
district and the spectacularly productive Lead-Homestake district
to the north. Presently, the Rochford and Lead districts are only 25 kilometers apart,
and significantly, at least 14 kilometers of net shear offset
brings the two camps into direct juxtaposition (see Figure 2
entitled "Regional Connection: Homestake and Rochford posted on the Company's website at
Rochford Standby – Mineral Mountain Resources Ltd.). During the
time of major gold mineralization in the Black Hills, the two camps
were neighbors across this shear zone and it is possible to
consider the Rochford district
"West Homestake". It is even possible that the two major antiforms
were once aligned into a single large-scale structure prior to
shear dismemberment. The portion of the antiform containing older
(deeper) rocks, including the Homestake iron formation dominates
exposure in the Lead District,
while the younger (shallower) rocks are exposed in the Rochford district. The overall architecture of
the two camps is remarkably similar. Given the similarity in
deformation-metamorphic histories and the comparable lithologies of
the Homestake and Rochford iron
formations, the Rochford district
should contain significant gold resources available for discovery.
The displaced eastern lower portion of this major early structure
produced, in excess of 41 million ounces of gold.
Mineral Mountain Resources Ltd. will be raising sufficient
capital to support a fully permitted core drilling program in early
2021 that will test the Standby Trend. In addition, Mineral
Mountain is also conducting a district scale structural foliation
study and a specific type of geochemical study that has proven
successful at providing vectors to mineralization at the Homestake
Mine.
Nelson Baker, President and CEO
of Mineral Mountain offers: "Our technical team are very
encouraged and excited about the initial results of our
study on contours of the dip of a specific foliation to spatial
relationships with gold mineralization in the Rochford District. This novel approach was
successfully applied in Australia
by an esteemed structural professor on several synorogenic gold
deposits and has also been mirrored successfully in unpublished
work from former Homestake Mine geologists at the Homestake
Mine. Initial work by MMV is providing positive results
validating known gold systems such as the Standby and Cochrane deposits in the Rochford District and identifying other
anomalies that need to be field checked and
evaluated."
Mineral Mountain also announces that it has granted an aggregate
of 2,275,000 incentive stock options to directors, officers and
consultants of the Company in accordance to the Company's stock
option plan. The options are exercisable at a price of $0.25 per share for periods between three and
five years from January 27, 2021, the
date of grant, in accordance with their respective vesting
provisions. The options are subject to the approval of the TSX
Exchange.
About Mineral Mountain
Mineral Mountain Resources Ltd., through its wholly owned
subsidiary Mineral Mountain Resources (SD) Inc., is an exploration
and development Company with a strong management and technical team
which has many years of experience in the Homestake area. The
parent Company, Mineral Mountain Resources Ltd., is based in
Vancouver, B.C.
The Company now owns one of the largest land packages, now
totaling over 7500 acres, in the Rochford District located in the Black Hills
of South Dakota, U.S.A. about 25
kilometers south of the richest and largest gold deposits in the
world, the Homestake Mine gold system, which produced over 41
million ounces of gold! The Company also owns a comprehensive
database for the entire Rochford Gold District, a
large supporting land position within the
second most productive gold districts in the United States.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W.
Baker", President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward looking information
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.
SOURCE Mineral Mountain Resources Ltd.