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Mountain Boy Minerals Ltd (2)
Symbol MTB
Shares Issued 36,110,382
Close 2020-01-14 C$ 0.27
Recent Sedar Documents

Mountain Boy samples 28.5 g/t Au, 1,200 g/t Ag in B.C.

2020-01-14 10:50 ET - News Release

Mr. Lawrence Roulston reports

MOUNTAIN BOY PROVIDES UPDATE ON NEW GOLD-SILVER DISCOVERIES IN THE GOLDEN TRIANGLE

Mountain Boy Minerals Ltd. has released updated results on two new gold-silver discoveries on its American Creek West project, located in the Golden Triangle of British Columbia, 20 kilometres north of the deepwater port of Stewart.

Highlights:

  • 28.5 grams per tonne gold and 1,200 g/t silver in separate rock grab samples from the newly discovered Wolfmoon zone;
  • 17.2 per cent zinc and 33.6 g/t silver (previously reported and updated for overlimit reassays) from the newly discovered Crown Ridge zone;
  • Samples from the historic Chris adit and surrounding area produced copper values to 4 per cent, defining yet another style of mineralization on the American Creek West property;
  • Early Jurassic age (185 million years) determined for the recently mapped American Creek intrusion -- a similar age as several large gold deposits in the region.

Receding glaciers and detailed geological mapping of the newly consolidated American Creek West ground in 2019 led to the discovery of the Wolfmoon and Crown Ridge zones.

Mineralization at Wolfmoon occurs within a north-northwesterly striking structural corridor that has so far been traced for 450 metres. Wolfmoon is a very significant discovery, as it contains both high-grade gold and silver in the same zone.

The Crown Ridge zone occurs 1.4 kilometres north of Wolfmoon at a similar elevation, near the top of Bear River Ridge. Chalcedony occurs within many of the veins, suggesting the zone represents the upper levels of an epithermal system.

The Wolfmoon and Crown Ridge zones are located at the margins of the felsic Mount Dilworth formation. This suggests the zones are younger than the nearby Silbak-Premier deposit, however, similar in age to other large-scale deposits in the Golden Triangle including the Brucejack deposit.

High-grade gold, silver and base metal values in veins and structures have been identified throughout the property, which spans eight kilometres north-south along the American Creek corridor, six kilometres east-west and 1.3 kilometres of vertical extent, from the American Creek valley bottom to the top of Bear Ridge.

An age measurement on an intrusive unit located just west of American Creek at 250 metres elevation yielded an Early Jurassic age of 185 million years. This previously unrecognized intrusion is similar in age to the many Jurassic intrusions that are related to several of the deposits in the Golden Triangle including the Texas Creek intrusion, which is directly related to the historic world-class Silbak-Premier mine, 11 kilometres to the southwest.

The current working deposit model consists of multipulsed epithermal mineralization telescoping off a porphyry hydrothermal system, with the Early Jurassic intrusion identified on the property providing the magmatic heat source for circulating metal-bearing fluids. The large vertical (greater than 1.3 kilometres) and areal extent of mineralization in the area suggests the possibility of a large mineralizing system. Previous exploration examined the various mineral occurrences in isolation. This revised geological model will be useful in future exploration as it will tie the various mineral occurrences together and identify potential large-scale targets moving forward.

Work is presently under way re-examining earlier results in the context of the revised geological model. The objective is to identify drill targets that will be tested in the coming field season.

Select sample results from the latest batch of assays are presented in the select sample table and previously reported results with updated overlimit values are presented in the previously reported samples table.

                                   SELECT SAMPLE RESULTS

Sample No.         Zone  Type  Width (m)  Ag (g/t)  Au (ppb)  Cu (ppm)  Pb (ppm)  Zn (ppm)

MW19-003       Wolfmoon  Grab              1,200.0     3,450       743    17,000     7,980
AW19-108       Wolfmoon  Comp        2.0     258.0     1,860       246    28,400     5,370
WK19-61        Wolfmoon  Grab                239.0       249     1,000    13,200    10,300
AW19-110       Wolfmoon  Grab                197.0     1,150     1,530   132,000    30,600
AW19-111       Wolfmoon  Grab                133.0    28,500     1,460    29,200    42,800
LT19-312R      Wolfmoon  Grab                 64.4        28        98       532     1,180
LT19-314R      Wolfmoon  Grab                 52.8       454       198     2,130    21,000
WK19-62        Wolfmoon  Grab                 34.1       106        73    12,900    26,200
LT19-313R      Wolfmoon  Grab                 17.3     1,000        71     6,000     2,460
AW19-109       Wolfmoon  Comp                  5.9        38        18     1,440       982
KD19-148R   Crown Ridge  Grab                 13.7         4        17     2,790       613
LT19-155BR  Crown Ridge  Grab                  2.8        -2        23     2,070       182
LT19-156R   Crown Ridge  Grab                  0.6        -2         6       151     4,300
AW19-047          Chris  Chip        0.4      32.6        37    25,500       852     4,010
DG19-032R         Chris  Grab                 32.1        49    40,400     3,910    40,900
AW19-049          Chris  Chip        0.5      23.3        26    29,000       298     1,570
AW19-051          Chris  Chip        0.1      11.8        52    21,500       361    11,200
DG19-030R         Chris  Grab                  8.2       538     8,420       507    66,900
LT19-185R         Chris  Grab                  6.4        64     1,330     3,320    10,500
DG19-027R         Chris  Grab                  4.1        13     5,470       597       649
DG19-029R         Chris  Grab                  4.0       310     4,980       869    46,900

PREVIOUSLY REPORTED SAMPLES WITH UPDATED OVER LIMIT RESULTS

Sample No.    Zone or claim   Type  Width (m)  Ag (g/t)  Au (ppb)  Cu (ppm)  Pb (ppm)  Zn (ppm)

KD19-155R          Wolfmoon   Grab                903.0     8,440       214     8,800     7,470
KD19-158AR         Wolfmoon   Grab                 14.3        15         6     8,700    11,700
LT19-165R          Wolfmoon   Grab                 72.8        50     1,880    30,400    30,900
LT19-170R          Wolfmoon   Grab                 46.1       362       544    13,200       274
KD19-146R       Crown Ridge   Grab                 35.0         3        28    14,800    83,100
LT19-155AR      Crown Ridge   Grab                 33.6        -2        44    16,000   172,000
KD19-097R             Akash   Grab                 18.3       184       212    64,400    32,300
KD19-097BR            Akash   Grab                 23.3       190       471    65,700    72,200
LT19-139R   Silver Crown C2  Float                724.0        16       687     7,100     2,670
AW19-025          Dorothy 3  Float                 14.6     3,490    40,300        41       255
LT19-101R         Dorothy 3  Float                  0.9        -2        30       399    11,600

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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