May 10 2016
Montana Gold Mining Company Inc. ("MGM" or the "Company") has received approval of a revised exploration permit notice (the "Permit"), valid for two years, from the US Bureau of Land Management ("BLM") on the Company's Golden Trail Project located in Elko County, Nevada (the "Golden Trail").
The Permit includes 11 proposed drill sites that are situated along the largest identified vein, the Golden Trail Vein ("GTV"), which is over 1,200 meters long and has an associated alteration zone that averages 30 meters wide. Gold values above 20 ppb are common within the zone and several samples above 9 grams have been taken in the central GTV area including one rock chip sample of decalcified limestone that contained over 28 grams gold. Continuous 5 foot trench samples returned 13.7 grams gold with 36.2 grams silver in one 5 foot trench, and 3.49 grams gold with 105 grams silver in a second 5 foot trench.
The Permit is valid for two years and may be renewed or amended at that time, subject to BLM approval. The Permit incorporates operational requirements, including management of local habitat, and reclamation requirements. The Company has posted US $13,033 with the BLM as a financial guarantee which is the estimated reclamation cost.
The Golden Trail is situated on the recently identified North Eastern Nevada Gold Trend (also called the Pequop Trend), about 50 miles north of the Newmont Long Canyon Project and about 100 miles north of Pilot Gold's Mount Kinsley Project. The Geological Society of Nevada 2015 Symposium published a technical paper on the Golden Trail under the Carlin-type Deposits Section titled: "Gold Mineralization at the Golden Trail Project, Northeastern Elko County, Nevada, R. Capps, P. Noble, and C. Jorgensen" That paper and an NI 43-101 report are available on the Company website at www.montanagoldmining.com.
In addition to Golden Trail, and given the recent resurgence of certain metals and related capital markets, the Company is actively reviewing other mineral prospects in the vicinity of the North Eastern Nevada Gold Trend as well as certain areas of Canada for potential addition to the Company's project portfolio. Any such additions will be announced, as will plans for drilling at Golden Trail when finalized. The Company's diamond drill rig will be transported to Nevada in early June.
Richard C. Capps, PhD, is the qualified person responsible for approving the technical information contained within this release.
Montana Gold Mining Company Inc. is a reporting issuer in good standing in the Province of Ontario whose common shares are listed on the Canadian Securities Exchange (CSE) (Symbol: MGM). There are 49,664,765 common shares of the Company issued and outstanding.
Source: http://www.montanagoldmining.com/