Mineral Mountain Resources Ltd. (Mineral Mountain or the Company) (TSXV: MMV) (OTCQX: MNRLF) is pleased to report that diamond drilling on its Shining Tree Gold Project 70%-owned Block A has resumed. The Shining Tree Gold Project is located approximately 8 km northwest and a short distance north of the Tyrrell Shear Zone which hosts the Juby Main Zone owned by Temex Resources Corp. (TSX-V: TME). Temex recently reported a 50% increase in the Juby Main Zone resource (see Temex release dated January 16, 2012) consisting of an indicated gold resource of 934,645 ounces and an inferred gold resource of 905,621 ounces with significant upside potential. The on-going drill program is designed to locate the source of two distinct gold-in-till dispersal trains that fall in an area not previously explored.
Drilling Targeting Compelling Gold-In-Till Anomaly
A regional deep reverse circulation and shallow pit till sampling identified two strong gold-in-till anomalies dubbed the Decker and Hydro Creek dispersal trains. Both the Decker and Hydro Creek dispersal trains are interpreted to emanate from an area 5 km long and up to 600m wide within a structural corridor in which bedrock samples obtained from RC holes were commonly anomalous in gold (up to 6.36 g/t Au in RC Hole #8). The gold-bearing, 5 km long corridor extends from Highway 560 northward through Arthur Lake to the Montreal River.
The Mineral Mountain technical team have extensive experience tracing gold grains up ice to their source as demonstrated by their success in Richardson Township, Northwestern Ontario during the period 2005 to 2010 while they managed the exploration for Rainy River Resources Ltd. (TSE:RR). During this period, systematic drilling up ice of gold dispersal trains proved to be a valuable exploration tool resulting in the substantial expansion and the discovery of the Richardson Twp. gold deposit.
On September 25, 2011, the Company commenced a cross-sectional drilling program to test one of the two gold-in-till dispersal trains identified by the RC program, the Decker train. Up to and including December 20, 2011, the Company completed 3 fences of drill holes 500m apart totaling 16 diamond drill holes for a total of 4,328.5m. Two of the sixteen holes failed to penetrate the thick till cover. Final results for the first 9 holes have been received and, although no significant gold assays were recorded, a number of anomalous gold intersections up to 13 metres wide were recorded with values ranging from 0.42 g/t to 0.97 g/t Au. It is important to note that these zones are not considered to be the source of the gold-in-till anomalies.
Nelson W. Baker, President and CEO of Mineral Mountain comments: We are very encouraged with the initial results to date. At Rainy River several diamond drill holes were required before we were able to pinpoint the Richardson Twp. gold deposit. Geologically we feel we are in the right environment!
The Shining Tree Gold Project is managed by Joerg Kleinboeck, 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 (778) 383-3975 email@example.com
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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.