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Mineral Mountain Resources Signs an Exploration Agreement With Option to Purchase the Historic Standby Gold Mine Property With G&D Gold Mining Company in the Rochford Gold District, South Dakota, USA
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2016) - Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSX VENTURE:MMV) is pleased
About this update from Badlands Resources Inc
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2016) - Mineral Mountain Resources Ltd. (\"Mineral Mountain\" or the \"Company\") (TSX VENTURE:MMV) is pleased to announce that the Company has signed an Exploration Agreement With Option To Purchase (the \"Option Agreement) the historic Standby Gold Mine Property consisting of 9 contiguous patented claims totaling 67.45 acres (the \"Standby Property\") from G & D Gold Mining Co., (\"G&D Gold\") a South Dakota corporation. The Company believes that the optioned claims represent a potentially important addition to the Company's substantial land holdings in the Rochford Gold District and, in particular, provides an immediate focus for future exploration. This acquisition adds approximately 1.5 km of strike length to the north end of the Standby-Bloody Gulch-Lookout Mine structural corridor that is considered to be highly prospective for iron-hosted gold mineralization. In 1879, the historic Standby Gold Mine, located on the Standby Property and about 26 km south of the Homestake Gold Mine in Lead, South Dakota, was comprised of a series of several small pits, as well as underground exploratory drifts accessed on a number of levels by shafts and adits to a depth of 425-ft. The historic mine, which had a 40-stamp mill, used a flume to divert water and create power. This mine and mill contributed to much of the town of Rochford's growth in the late 1800's which at one time was estimated to have a population of about 1,000 people. Historic workings were concentrated in the outcropping position of the head of the southward-plunging, structurally thickened and sheared Standby syncline, within Rochford iron formation. Indications from historic pit sampling and from underground sampling are that the poorly explored trough of the syncline, and particularly the west limb of the syncline, host higher concentrations, yet these areas have not been explored to depth along the plunge of the Standby syncline and its associated major shear structures. This target area, comprising at least 1.5 km of plunge extent, is the prime focus of Mineral Mountain's planned exploration on the Standby Mine portion of the Rochford Project. Terms of the Option Agreement Under the Option Agreement, the Company has been granted a 3-year Option pursuant to which it may acquire the Standby Property by payi...