April 16th, 2014
Big Onion Project Update
Management of Metal Mountain Resources Inc. and Lloyd Minerals Inc. (the Company) are pleased to provide the following update on the progress at the Big Onion Copper-Molybdenum Project near Smithers, British Columbia.
1. The first 7 holes were focused on the southwestern part of Main Zone of the property to infill drill holes at 50 to 100m spacing to previous holes in order to give the calculation of the resource higher confidence and an extension in depth (up to 250m), since in those areas information raised on percussion drillings from 1974/75 (max. 80m depth). The geophysical signatures of the known part of the Main Zone show intermediate chargeability and intermediate magnetic signals.
2013 Diamond Drill Holes
Highlights from the first 7 holes from the known deposit:
Cu 0.21% over 249m including
Cu 0.32% over top 115m including
Mo 0.012% over top 96.6m including
Cu 0.42% and Mo 0.01% over top 83m, including
Au 0.09g/tonne from 53 to 83m
Copper 0.11% over 223.5m including
Cu 0.20% from 165 to 223.5m including
Mo 0.014% from 209 to 217m
Cu 0.31% over 250.5m including
Cu 0.37% over top 197m including
Cu 0.38% over top 149m including
Mo 0.018% from 79 to 123m and
Au 0.25 g/tonne from 96 to 105m
Cu 0.26% over 185m including
Cu 0.47% over top 85m including
Mo 0.01% from 30.3 to 75m and
Au 0.12 g/tonne from 34.5 to 44m and
Au 0.18 g/tonne from 68 to 81m
Cu 0.19% over 252m including
Cu 0.27% and Mo 0.021% over top 141m including
Cu 0.29% and Mo 0.020% over top 109m
Cu 0.21% and Mo 0.012% over 220m including
Cu 0.26% and Mo 0.015% over top 171.5m including
Cu 0.32% and Mo 0.015% over top 139m
Au 0.2 g/tonne over 2m from 212 to 214m
Cu 0.27% over 225m and
Mo 0.01% over 225m including
Mo 0.019% from 127 to 225m
Cu 0.31% and Mo 0.024% over top 167m including
Cu 0.33% and Mo 0.022% over top 151m
The southwest extension of the known deposit shows some promising results:
Cu 0.47% and Au 0.12 g/tonne from 55 to 56.8m
Cu 0.10% from 30 to 108m including Mo 0.025% from 94 to 103m
Mo 0.006% over top 129m including Mo 0.010% from 84 to 129m and Cu 0.175% from 84 to 101m
Mo 0.009% from 60 to 185m including Mo 0.096% from 60 to 62m, and Mo 0.012% from 116 to 185m including Mo 0.016% from 126 to 161m
Results from the 2013 drill program are highly encouraging. Drilling results warrant further work on the infill drilling of the Main Zone and, furthermore, the extension of the known deposit to the East, West, and to depth.
Notably, recent new mines and mine plans (e.g. Mt Milligan, north of Fort St. James, BC) are calculated based on a cut off grade of copper down to 0.1 % Cu-equivalent due to commodity prices and concentration technologies. The current resource estimate on the Big Onion Project is based on a cut off grade of copper at 0.2% Cu. Therefore, a recalculated resource estimate based on the results of this program and the changed commodity prices may be warranted. In addition, in order to achieve reliable data for the efficiency of the concentration process and the stripping ratio, metallurgical testing should be initiated.
"I have always believed in the Big Onion's potential," says Lloyd Tattersall, Senior Founder, President and CEO of Metal Mountain Resources. "This drill program provides solid evidence that there is still plenty of room to expand. It's exciting! I look forward to a much larger drill program in the future with the intention of finding out just how big the Big Onion really is.
Dr. Mathias Westphal, P.Geo., Head Geologist
About Metal Mountain Resources Inc.
Metal Mountain Resources Inc. is a mineral exploration company headquartered in Vancouver, British Columbia with a field office in Smithers, British Columbia. The Company is managed by an experienced team of professionals with over 250 years of experience and a solid track record of exploration and development success. The Company's main focus is the advancement of its two flagship properties. The Dome Mountain Mine (gold and silver) is owned by the Company's subsidiary Gavin Mines Inc. Metal Mountain holds a 63% interest in Gavin Mines Inc. The Big Onion Project (copper and molybdenum) is owned by the Company's wholly-owned subsidiary, Lloyd Minerals Inc. The Company's property holdings (totaling nearly 15,000 hectares) are all located within the Province of British Columbia.
Curtis Brazeau: 778-846-4907
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