Mineral Mountain Resources Ltd. (Mineral Mountain or the Company) (TSXV: MMV)(OTCQX: MNRLF) is pleased to provide an update on its Pipestone Project (formerly referred to as the Straw Lake Project) located 50 kilometers north of Fort Frances, Ontario.
Phase I Drilling Program at Straw Lake West Occurrence
An initial Phase I diamond drilling program has been approved by the Company for the newly acquired Straw Lake West Occurrences which are a series of surficial gold showings hosted in greenstone rocks adjacent to the Pipestone-Manitou Stretch Deformation Zone. The drill program is scheduled to begin mid-January 2012. This area has never been diamond drilled nor systematically explored by modern methods and also covers the newly acquired Stahn Property (refer to Company press release dated 30 November 2011) which is a key parcel of ground that covers very favorable geology and structural elements.
Straw Lake West Occurrences
The Straw Lake Occurrence (SLO) is characterized by a linear series of gold showings over an 800 meters long strike length hosted in porphyritic dikes with accessory quartz veining. Rock exposure is limited in this low lying area and has historically been a hindrance to exploration. From a structural perspective the SLO is situated in a prime location as it occurs at a major structural intersection between the Pipestone-Manitou Stretch Deformation Zone and the Helena-Pipestone Deformation Zone of which the latter ultimately can be traced over 55 kilometers to the same litho-tectonic setting that hosts the Rainy River Gold Project. A plan map illustrating the relationship of the geology and gold showings is available on the Company's website at www.mineralmtn.com.
Pipestone Manitou Stretch Deformation Zone
The Pipestone-Manitou Stretch Deformation Zone and its associated splays is a vastly underexplored, gold bearing fault system which has a strike length in excess of 250 kilometers stretching from the Ontario-Manitoba border east through the Company's Pipestone project finally terminating near the town of Dryden Ontario. This tectonic zone has countless historical and newly discovered gold occurrences including the Cameron Lake Deposit (JORC Compliant Resource of 422,353 oz Au Indicated and 583,480 oz Au Inferred) owned by Coventry Resources Limited (ASX:CVY) and also the Gaffney Prospect which is currently being explored by Manitou Gold Inc. (TSX-V:MTU). Manitou Gold reported a very significant drillhole intersection of 2.4 g/t Au over 75.1 meters in a press release dated 2 November 2011 and is a testament to the ability of this underexplored fault system to host significant gold mineralization.
Nelson W. Baker, President and CEO of Mineral Mountain Resources comments, In the past, we as explorers, did not target the Wabigoon Sub-Province for large-scale deposits. The Rainy River Gold Project is testament that the Pipestone-Manitou Stretch Deformation Zone could host major deposits and we fully intend to make this area our principal focus and systematically evaluate this potential.
The Pipestone Project is managed by Kevin Leonard, P. Geo., and is supervised Wally Rayner, P. Geo., the company's Vice President of Exploration, and has verified the contents of this press release. Wally Rayner, P.Geo. is the qualified person for this project.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
Nelson W. Baker, President and CEO
For further information, please contact
Brad Baker, Vice-President Corporate Development & Director
Kin Communications Inc.
or visit our website: www.mineralmtn.com
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.
This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward looking statements, including statements about the Offering. Forward looking statements are 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 statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that cause the actual results to differ materially from those in forward-looking statements 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 statements 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 those forward-looking statements 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.