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Mountain Boy Minerals Ltd (2)
Symbol MTB
Shares Issued 36,710,382
Close 2020-06-26 C$ 0.37
Recent Sedar Documents

Mountain Boy summarizes summer exploration plans at BA

2020-06-29 10:00 ET - News Release

Mr. Lawrence Roulston reports

MOUNTAIN BOY PLANS EXPLORATION WORK AT BA TO FOLLOW UP GOLD VALUES FROM TRENCHING

Mountain Boy Minerals Ltd.'s exploration program this summer will include further work at BA, where previous drilling has outlined a large, low-grade silver-zinc-lead occurrence. While the focus remains solidly on the planned drill program at American Creek, the geological team will also be ground-truthing several geophysical anomalies at BA as well as following up on 2016 trenching at the north end of the Barbara Zone that yielded a previously unreported interval of 1.5 metres grading 14.3 g/t gold.

Lucia Theny, Vice-President Exploration, commented: "As a geological consultant for Great Bear while they explored BA, we were all encouraged by the 2016 results. However, by the time the results were available, Great Bear had shifted its attention to their Dixie project at Red Lake, Ontario and the BA results were never followed up."

In June 2017, Great Bear agreed to sell their 50% interest in the BA project back to MTB, resulting in Great Bear becoming a significant shareholder of MTB.

About the BA Project

The 10,658-hectare BA project is located in British Columbia's highly prospective Golden Triangle. The extensive property is host to several mineral occurrences including the Barbara, BOD, Red Top, Superior, George Gold-Copper, and Grand View. Historic mapping suggests that many of the mineralized showings occur within a traceable tuffaceous argillitic horizon that often contains magnetite and hematite. The horizon is postulated to be of similar age to the stratigraphic horizon that hosts the Eskay Creek deposit.

The Barbara zone hosts a Volcanogenic Hosted Massive Sulphide (VHMS) occurrence containing silver, lead, zinc and gold which has been outlined with 178 drill holes.

At the end of the 2010 drill program, laminated massive sulphide mineralization was discovered at the edge of a glacier at the north end of the Barbara Zone. As the glacier receded, more of the showing was exposed and in 2016 further channel sampling was conducted. A diamond saw was used to make two parallel cuts about 4 cm apart and then the sample was chiseled out between the cuts. This results in a surface sample that is comparable to a drill hole in quality. Trench TR2016-A assayed 97.3 g/t silver, 1.11 g/t gold, 0.24% copper, 1.26% lead and 4.19% zinc over 19.5 metres including 1.5 metres at 145 g/t silver, 14.3 g/t gold, 2.88% copper, 2.18% lead and 14.7% zinc.

Volcanic hosted massive sulphide (VHMS) deposits are commonly zoned with copper and gold mineralization occurring closer to the hotter vent source. It is postulated that trenches at the north end of the Barbara Zone are closer to the hydrothermal vent and that the precious metal grades are improving to the north-east. This area has not been drill tested. Drill permits remain in place.

This year's program will also include further work at Big Red. Great Bear, in a January 17, 2017 news release noted: "Results are consistent with high-grade polymetallic VMS feeder-style mineralization ... and include sample BR 7222 returning 20.3% zinc, 6.73% lead, 255 grams per tonne silver, 0.37% copper and 100 parts per billion gold. Great Bear intends to undertake follow-up exploration in the Big Red area in 2017."

Exploration Plans at BA

Prior to this summer's anticipated field work, Mountain Boy will conduct further analyses to better define their working model for the BA deposit. A Pb isotope analysis from the mineralized Barbara zone will provide an age for the mineralization. In addition, a U-Pb zircon age will be provided from an andesitic unit.

Geological groundwork will include property scale prospecting, detailed mapping of previously identified targets and follow-up of anomalous geophysical and geochemical results.

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

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