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Mountain Boy Minerals Ltd (2)
Symbol C : MTB
Shares Issued 34,410,382
Close 2019-04-16 C$ 0.175
Recent Sedar Documents

Mountain Boy begins American Creek West permitting

2019-04-23 09:43 ET - News Release

Mr. Lawrence Roulston reports

MOUNTAIN BOY ANNOUNCES DRILL PERMITTING UNDERWAY ON AMERICAN CREEK WEST PROJECT & APPOINTS VP EXPLORATION

Drill permitting is under way on Mountain Boy Minerals Ltd.'s newly named American Creek West project, which consists of the MB silver property and the recently acquired Dorothy and Silver Crown properties. The 2646-hectare American Creek West project is located 25 kilometres north of Stewart in British Columbia's Golden Triangle. In addition, the company has appointed Lucia Theny as vice-president of exploration.

Mountain Boy views the American Creek West project as having district-scale potential to host gold/silver and base metal deposits similar in style and scale to neighbouring past-producing and current mines. These include the past-producing high-grade Mountain Boy mine on the property, the Terminus and Ketchum silver mines within two kilometres of the claims, the historic Premier mine less than 10 kilometres west, the Red Cliff historic mine and current exploration project immediately south, the Red Mountain deposit 20 kilometres southeast, and the Brucejack mine 30 kilometres north.

The high-grade Mountain Boy silver mine operated until 1939, with access by pack horses in challenging mountainous terrain. Mountain Boy conducted drill programs in 2006 and 2011 with the intention of near-term production. Significant intercepts include 8.53 metres of 2,260 grams per tonne silver in DDH-2006-19 and 5.18 metres of 5,258.0 grams per tonne silver in DDH-2006-10 (assessment report No. 29066) as well as 396.33 grams per tonne silver over 4.57 metres in DDH-2011-1 (assessment report No. 33036). Numerous mineralized veins, like those drilled in 2006 and 2011, have been identified on the property and have seen minimal modern exploration. The exploration model holds that the silver/base metal values high in the system could transition to gold/copper values in a hotter part of the system.

Mountain Boy now holds a dominant land position in the lower American Creek corridor and considers this area to be highly prospective due to the presence of several nearby past producers, the prospective geology, numerous mineralized showings, newly consolidated claims and encouraging nearby results. For example, drilling by Pretium Resources Inc. on its American Creek zone included drill holes within five kilometres of Mountain Boy's project, which generated significant gold and silver values.

Mountain Boy is conducting a co-operative exploration program with Auramex Resource Corp., which holds adjacent properties on the east side of American Creek. Multiple mineral occurrences on both sides of American Creek are now interpreted to be related to an extensive and robust mineralizing system extending along the American Creek corridor. The veins at surface are believed to represent the high-level expressions of a deep-rooted system. For the first time, the lower American Creek ground has been unified and is being looked at with a comprehensive geological model without the constraints of property boundaries.

The company is continuing to integrate the historic data from the recently acquired properties. Plans are being formalized for an exploration program that will cover the entire project area. Permitting is under way for drilling, which will follow up the earlier drill results as well as test other highly prospective targets.

Lucia Theny appointed vice-president, exploration

Lawrence Roulston, president and chief executive officer of Mountain Boy, stated: "I am extremely pleased to have someone of Lucia's calibre join our team. Her knowledge and experience in the Golden Triangle will be very beneficial as we transition the company from target generation to testing. Mountain Boy is gearing up to drill test the American Creek West project, after consolidating a large land position. We see enormous potential for a new discovery in this prolific mining region."

Ms. Theny is a structural and economic geologist with experience in base metal and precious metal exploration. As a field geologist for several junior exploration companies, she has conducted successful exploration programs on grassroots and brownfield projects. With worldwide experience, a majority of her career has been focused in British Columbia's Golden Triangle. Ms. Theny has experience with several deposit types, including sedex (sedimentary exhalative), porphyry, epithermal, skarn, sediment hosted, intrusion related and volcanogenic-hosted massive sulphide (VHMS). Ms. Theny founded an independent geological consulting practice and has been providing geological and project management services to a number of clients since 2013. Ms. Theny holds a BSc (honours) in Earth and environmental sciences, specializing in geology from the University of British Columbia, and an MSc in Earth sciences, focused on structural and economic geology, from Simon Fraser University.

Ms. Theny commented on her appointment: "I am thrilled with the opportunity to be working with the Mountain Boy team in the Golden Triangle. It is a district like no other, with numerous mineral occurrences having the potential for both grade and tonnage. Mountain Boy's significant land package is host to structural complexity, large hydrothermal alteration systems and known mineralization. This is the right setting to host large deposits."

The technical disclosure in this release has been read and approved by Andrew Wilkins, BSc, PGeo, a qualified person as defined in National Instrument 43-101.

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