NEW YORK, NY / ACCESSWIRE / October 17, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update note on Mineral Mountain Resources Ltd. (TSXV: MMV, OTCQX: MNRLF) with a Target Price of C$1.15.
The report is available here: October 2018 Update Note.
We are updating coverage of Mineral Mountain Resources Ltd. (TSXV: MMV, OTCQX: MNRLF, "Mineral Mountain"). MMV is headquartered in Vancouver, BC, and the company is focused on the identification and exploration of gold projects with "camp scale potential" in cost-effective, mining friendly regions in North America. Mineral Mountain's flagship Homestake South Gold Project is positioned in the Rochford District of the Black Hills of South Dakota along the southern portion of the Homestake Gold Belt. The Homestake Gold Belt is one of the top three gold producing gold belts in North America, including Timmins in Canada and the Carlin Trend in Nevada. In our view, Mineral Mountain offers significant potential given encouraging preliminary resource data and 3D imaging, its attractive location, and an experienced management team which has already demonstrated the capability to build and sell a multi-hundred-million-dollar gold exploration business. We also see the company as offering an intriguing speculative conduit for exposure to an asset class historically non-correlated to the business cycle.
MMV reports strong results and outlook for FY2019
We are updating coverage of Mineral Mountain following recent results, including Phase 1 drilling results for the Standby Mine site in the company's Homestake South Gold Project, as well as plans to initiate Phase 2 drilling. Highlights are as follows:
- Mineral Mountain completes Phase 1 drilling program. Mineral Mountain announced that it had completed its Phase 1 drilling program for Homestake South.
- Phase 1 included nine holes totaling 2,937 meters (9,367 feet), and 1 was designed to acquire a better understanding of the upper structure and upper tail of the syncline to intersect the high grade zone.
- Announcing the results, CEO Nelson Baker stated that the Phase 1 program had solidified MMV's belief that the Standby target is of sufficient scale to host a major ore-bearing structure on the scale of the Homestake 9-Ledge that produced 9.5mn ounces of gold.
- MMV planning for Phase 2 to begin in October. MMV announced that it is readying a Phase 2 drilling program. Phase 2 is expected to be a 4,000 meter drilling program, which will target what MMV has identified as a high grade gold intersection by Homestake in 1987, which ran 10.29 g/t over 3.05m. Phase 2 will feature advanced directional drilling and BHEM technology, and will commence with a deep directional drill hole designed to run parallel to the main syncline to intersect the high grade zone.
Price target of C$1.15 for MMV
The target remains C$1.15 following encouraging Phase 1 drilling results at the Standby Mine. We see the deeper drill program outlined in Phase 2 as a potential catalyst for the company, as it would better define what is hoped to be the high grade area of the project. We view Mineral Mountain as an emerging gold exploration company offering an attractive combination of experienced management, a promising location, and upcoming drilling results. Additionally, we are intrigued by the countercyclical relationship of gold to the broader economy, and note that increasing market volatility has the potential to increase demand for gold– and profit potential for Mineral Mountain given that gold is the underlying commodity for its business.
Please review important disclosures in the report and on our website at www.seethruequity.com.
About Mineral Mountain Resources Ltd.
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused on the exploration of its 100%-owned Rochford Gold Project situated along the highly prospective Homestake Gold Belt in the Black Hills of South Dakota, U.S.A. The Rochford Project covers approximately 7,500 acres and straddles three major trends of structurally thickened auriferous iron formation that host ledge-type gold mineralization.
Since 2012, the Company, through its wholly owned subsidiary Mineral Mountain Resource (SD) Inc., has spent over $10 million US in gold exploration in the Black Hills of South Dakota and controls the largest land position in the Rochford greenstone belt and now possesses by far the largest and most comprehensive database for the district in modern day exploration history! The Rochford Project is vastly under-explored and has the potential to host district scale gold discoveries.
About SeeThruEquity
Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative approach to deliver equity research of microcap and smallcap companies. SeeThruEquity has also been the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion since 2012.
SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.
For more information visit www.seethruequity.com.
Contact:
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity
View source version on accesswire.com:
https://www.accesswire.com/525540/SeeThruEquity-Issues-Update-on-Mineral-Mountain-Resources
