Wednesday 26th October 2016

Resource Clips

Their legacy lives on

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Mineral Mountain’s earn-in is progressing quickly, Baker says. “We haven’t been working the project a year yet, but we’ve already made the first two years of work commitments.”

There are approximately 100 historic, non-43-101 holes on the property, so we had tremendous confidence coming in. Our drilling has supported that confidence and our theory that these deposits could run much deeper than ever previously known.—Brad Baker,
Mineral Mountain director/VP of corporate development

Yet a maiden resource estimate might take up to a year or more. “As of right now we’ve covered just a few areas of a huge number of prospective areas,” he points out. “So we’d like to get a better handle on the total upside before we start focusing on a resource.”

Not exactly strapped for cash, Mineral Mountain seems well-financed for further work. “The last presentation I created before PDAC, I believe we were just above the $3-million mark.” Baker adds. “We can fund exploration through to the end of the year, if we want to be conservative.”

Last January Mineral Mountain picked up a few more former mines with 289 claims in the Rochford gold district, about 30 kilometres north of Holy Terror and 22 south of Homestake. Despite its prolific mining background, Rochford has yet to undergo systematic airborne geophysics, the company stated.

Mineral Mountain opened March 14 on $0.195, half a cent below its previous close, and dropped to $0.17 before ending the day back on $0.20. With 112.28 million shares outstanding, the company’s market cap came to $22.46 million. Its 52-week high and low show $0.41 and $0.15.

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