A quick update and 2 images to provide a better understanding of the current drill program on Mineral Mountain Resources Standby Mine Gold Project..…. Mineral Mountain is proceeding with their 4,000 meter Phase 2 drilling program consisting of one 1,600 meter pilot hole and up to 25 directional holes that will be drilled/spliced off of the pilot hole.
The pilot hole drilling is progressing well – the drilling is slow as they are using a technique called Controlled Drilling to ensure the trajectory of the hole is correct and they hit the desired targets at depth.
They are also using True Core analysis which allows the geologists to obtain more information about the orientation of the geologic structures at depth and better determine where the gold in iron is situated. The pilot hole was planned to hit 2 target zones. Target 1, located approximately 400 m below surface was previously tested in Phase 1 drilling last year.
Gold in drill intersections included 20 m of 2.12 grams/tonne and 24 m of 3.5 grams/tonne.
Target 2, located approximately 1,000 meters below surface (1,300 meters down dip) is the highest priority target.
They are targeting a Homestake style iron formation with higher grade disseminated gold.
In 1986, Homestake Mining drilling one hole into this zone and hit over 3 m of 10.23 grams/tonne.
Once the pilot hole is complete, the core from all mineralized zones will be assayed and results will be released.
Prior to the start of directional drilling, down-hole geophysical surveys will be completed at Target 2 and Target 1 locations. These surveys will provide geological data (electro-magnetic and conductivity), for an area about 400 meters around the survey shot.
The geophysics will assist is determining the best location for the 20 – 25 directional holes.
These will be wedged off of the pilot hole to provide additional exploration and discovery of gold in iron formation around Target 2 and 1.
The past few days have provided some excitement in the Mineral Mountain shares.
Over the past week, the stock has traded over 2.4 million shares – higher volume than normal and stock price movement both up and down.
Investors are becoming aware of the potential grand-slam home-run reward if Mineral Mountain has success on this round of drilling.
Mineral Mountain has publicly announced that the size and scale of the iron formation at Target 2, is similar to Homestake’s Ledge 9….that hosted over 9 million ounces of gold averaging 9 grams/tonne….36,000,000 tonnes were mined.
This is a world class target. Maybe nothing will come of this but the shares are definitely starting to gain market attention.