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Mountain Boy Minerals Ltd (2)
Symbol MTB
Shares Issued 34,910,382
Close 2019-10-22 C$ 0.19
Recent Sedar Documents

Mountain Boy samples 2,920 ppb Au at Southmore

2019-10-23 11:41 ET - News Release

Mr. Lawrence Roulston reports

MOUNTAIN BOY EXTENDS DISCOVERY ZONE AT SOUTHMORE

Mountain Boy Minerals Ltd. has released assay results for the Southmore (More Creek) property, located 40 kilometres northwest of the historic Eskay Creek mine. Three companies are actively exploring on adjacent properties in the area. The Mountain Boy claims are within eight km of the Galore Creek access road.

The recent field results build on results from 1990, which were not previously followed up.

Highlights:

  • Initial Mountain Boy fieldwork confirmed the historic showings and identified new zones of interest, some of which were ice covered at the time of the previous work;
  • Identification of a large zone of intense hydrothermal alteration;
  • Samples with multigram gold and strong base metal assays demonstrate mineralization over an extensive area.

The results point to the presence of mineralized systems similar geologically and in scale to other large deposits in the region.

The Mountain Boy team spent eight man-days mapping the geology, alteration and structure as well as sampling outcrop for geochemical analysis. Samples taken validate historic assays and outline new areas of mineralization.

Mineralization within the large gossan identified in 1990 has been extended 500 metres to the southwest. The gossan is interpreted as a northeast-trending, structurally controlled, hydrothermal alteration conduit consisting of quartz plus sericite plus pyrite alteration with minor arsenopyrite and up to 1,260 parts per billion gold and 41.4 parts per million silver. Significant base metal values were also encountered within the gossan. The best gold numbers appear to be associated with pyrite. Mineralization has been traced for 1,300 m on surface.

Additional structurally controlled alteration zones with up to 2,920 ppb gold were also mapped in the northern portion of the claims.

Samples from this summer's program are also anomalous in pathfinder elements such as antimony, mercury and arsenic. Barium is also anomalous in some areas and is commonly associated with volcanic-hosted massive sulphide deposits. The property has had very little exploration on it to date and the potential for more discoveries is high.

Three styles of mineralization have been identified. These include the following:

  1. Structurally controlled precious and base metal mineralization as found in the large gossan and the other veins to the north;
  2. Bedded massive sulphides of copper, lead and zinc;
  3. Massive sulphides within skarn identified in 1990 but not visited in the 2019 program.

                          SIGNIFICANT ASSAYS FROM 2019 PROGRAM

Sample No.  Au (ppb)  Ag (g/t)   Cu (%)    Pb (%)  Zn (%)  Hg (ppm)  As (ppm)  Ba (ppm)

AW19-127       2,920      13.5    0.010     0.008    0.01     2,020     1,230        28
WK19-64        2,520       2.1    0.010     0.073    0.07        60       154     2,270
AW19-125       1,360       2.1    0.018     0.003    0.01       230       199        41
AW19-130       1,160       9.0    0.038     0.058    0.02     3,490       660       707
AW19-133         841      32.0    0.008     0.007    0.00     3,550     1,720     3,760
AW19-132         780      34.9    0.010     0.002    0.01     2,510     2,350     6,630
AW19-129         500      12.0    0.016     0.081    0.21    10,000     1,700     1,720
AW19-115         387      19.9    0.011     0.005    0.02     1,580     2,000     3,200
WK19-63          213       7.4  >1.0000     0.005    4.87        90      90.5     7,010
AW19-134         194      10.1    0.017     0.008    0.26     2,820       355     2,100
AW19-124         170       1.6    0.393     0.001    0.01       110       198        61
WK19-66          164       2.9    0.209     0.009    0.02       310      67.6     2,240
AW19-136         133       0.9    0.004     0.047    0.01        90      68.5     2,810
WK19-68          125       1.3    0.006     0.016    0.03       340      78.9     2,530
AW19-118         100      12.6  >1.0000     0.069    1.25     2,030      50.5    11,700
AW19-120          97       1.5    0.005     0.002    0.00       360       189     5,530
AW19-114          89      18.1    0.008     0.005    0.01       270     1,910     6,070
AW19-112          86      31.6    0.090  >0.50000    0.97     4,580       530     7,800
AW19-117          53      13.9  >1.0000     0.006    0.07       140      62.7     1,490
AW19-135          47       4.4    0.062  >0.50000    0.01        80      66.5     1,310
AW19-131          41       0.4    0.007     0.020    0.01       170      31.4     2,820
AW19-119          18       0.5    0.009     0.002    0.00       310      84.8     5,970
AW19-113          13       4.3    0.148     0.024    0.06       290      26.7     1,160
WK19-67            8       1.9    0.071     0.168    0.38       990      47.7     3,390

Lawrence Roulston, chief executive officer, noted: "The MTB geological team recognized the potential in this property, which had been overlooked for decades. The Southmore project provides MTB shareholders exposure to a project with outstanding potential in the heart of an intensely well-endowed mineral region, which is host to multiple world-class deposits including Brucejack, Eskay Creek, Galore Creek and Schaft Creek. Southmore complements our three-more advanced-stage projects in the Stewart camp of the Golden Triangle."

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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