06:00:47 EDT Thu 17 Oct 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Mountain Boy Minerals Ltd (2)
Symbol C : MTB
Shares Issued 34,910,382
Close 2019-09-11 C$ 0.24
Recent Sedar Documents

Mountain Boy acquires More Creek

2019-09-18 13:32 ET - News Release

Mr. Lawrence Roulston reports

MOUNTAIN BOY ACQUIRES ADDITIONAL PROPERTY IN THE GOLDEN TRIANGLE

Mountain Boy Minerals Ltd. has acquired, through staking and purchase, a 100-per-cent interest in the More Creek property, located 40 kilometres northwest of the historic Eskay Creek mine. The 4,970-hectare (49.7 square kilometres) property is adjacent to the Newmont Lake property which is now being drill tested.

Highlights:

  • The last recorded exploration, in 1990, produced samples that assayed up to 13.58 per cent copper, as well as encouraging values of lead, zinc, gold and silver.
  • Receding glaciers has opened up large areas that have never been explored.
  • The property has potential for precious metal veins, skarn and volcanogenic massive sulphide-style mineralization.

The Mountain Boy team has compiled the available historic data and conducted an initial on-site review of the project.

In 1990, Blue Gold Resources carried out a small exploration program of prospecting, geological mapping and rock sampling on the current claims. They identified two large gossans separated by a large glacier with pervasive silicification and pyrite alteration. Copper, lead, zinc, silver and gold mineralization was discovered within the alteration zones. Magnetite skarn mineralization with sphalerite and chalcopyrite was also discovered to the east of the large gossan. Rock samples from the 1990 program assayed up to 13.58 per cent copper, 1.06 per cent lead, 12.4 per cent zinc, 2,500 parts per billion gold and 50 parts per million silver. Samples were also anomalous in pathfinder elements such as antimony, arsenic, cadmium and bismuth (B.C. assessment report No. 21008).

Since 1990, the glacier separating the two gossans has retreated 1,200 metres and thinned substantially, exposing many new outcrops. The British Columbia assessment report index contains no other records of work performed on the claims since 1990.

Sample No.     Au (ppb)   Ag (ppm)    Cu %   Pb %   Zn %

2228              2,500        4.8    0.63          0.10
31933             1,340        2.4
2170              1,280        2.3    0.25
31940             1,260       21.1
31941             1,260       41.4
2111              1,060       10.5                  0.78
31944             1,060       20.1                  0.25
55601               910       11.0           0.49   0.16
31946               900       34.0    0.73   0.21   0.55
2175                870       50.0    3.75
31923               810        0.4
31932               760        5.9
55602               750       28.0
55903               740        8.7                  0.12
55941               720       11.1    0.44
55937               560       20.1    1.82          0.23
31937               400       10.7
55946               160        5.2    0.44          1.26
55904               150       17.3    1.18          0.24
55929               130        3.8                 12.40
55945               120        4.2    0.19          2.94
55943               100        5.9    1.37
31948                90        2.9    7.85          4.22
55909                90        4.7    1.73
55938                70        3.5    0.13          4.48
2145                 60        7.9    1.20          2.37
55907                50       32.0   13.58          0.34
55908                50        6.9    2.57          0.13
55905                40       15.6    4.86          0.27
55919                40       11.8    2.23
55921                30        5.2    9.67   0.18   9.67
55931                20        5.2    1.18   1.06   3.40
30507                10        8.1    1.22
28205               -10        0.6           0.34   2.56

The Mountain Boy team spent four days on the property and collected 25 rocks samples. Similar mineralization to that described in the 1990 program was identified. Assay results are pending.

Acquisition terms

Six tenures, comprising 4,140 hectares, were acquired outright from an arms-length party in return for 160,000 shares of Mountain Boy, subject to regulatory approval. A further four tenures, comprising 828 hectares, were staked by or on behalf of Mountain Boy.

Lawrence Roulston, chief executive officer, noted: "The MTB geological team recognized the potential in this property, which had been overlooked for decades. The More Creek acquisition positions us in the heart of the highly prolific Eskay camp, an area that has seen big increase in exploration activity. More Creek complements our three highly prospective projects in the Stewart camp, where work is ongoing."

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.

© 2019 Canjex Publishing Ltd. All rights reserved.