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Mountain Boy Minerals Ltd (2)
Symbol MTB
Shares Issued 34,910,382
Close 2019-10-22 C$ 0.19
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ORIGINAL: Mountain Boy Extends Discovery Zone at Southmore

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

VANCOUVER, British Columbia, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (“Mountain Boy”, “MTB” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) reports assay results for the Southmore (More Creek) property, located 40 kilometres (“km”) northwest of the historic Eskay Creek Mine. Three companies are actively exploring on adjacent properties in the area. The MTB claims are within 8 kms of the Galore Creek access road.

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

Highlights:

  • Initial MTB field-work 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 multi-gram 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 8-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 + sericite + pyrite alteration with minor arsenopyrite and up to 1,260 ppb gold and 41.4 ppm 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 metres 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 a commonly associated with volcanic hosted massive sulphide deposits (VHMS). 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.
SampleNoAu (ppb)Ag (g/t)Cu (%)Pb (%)Zn (%)Hg (ppm)As (ppm)Ba (ppm)
AW19-127292013.50.0100.0080.012020123028
WK19-6425202.10.0100.0730.07601542270
AW19-12513602.10.0180.0030.0123019941
AW19-13011609.00.0380.0580.023490660707
AW19-13384132.00.0080.0070.00355017203760
AW19-13278034.90.0100.0020.01251023506630
AW19-12950012.00.0160.0810.211000017001720
AW19-11538719.90.0110.0050.02158020003200
WK19-632137.4>1.00000.0054.879090.57010
AW19-13419410.10.0170.0080.2628203552100
AW19-1241701.60.3930.0010.0111019861
WK19-661642.90.2090.0090.0231067.62240
AW19-1361330.90.0040.0470.019068.52810
WK19-681251.30.0060.0160.0334078.92530
AW19-11810012.6>1.00000.0691.25203050.511700
AW19-120971.50.0050.0020.003601895530
AW19-1148918.10.0080.0050.0127019106070
AW19-1128631.60.090>0.500000.9745805307800
AW19-1175313.9>1.00000.0060.0714062.71490
AW19-135474.40.062>0.500000.018066.51310
AW19-131410.40.0070.0200.0117031.42820
AW19-119180.50.0090.0020.0031084.85970
AW19-113134.30.1480.0240.0629026.71160
WK19-6781.90.0710.1680.3899047.73390

Table 1- Significant Assays from 2019 Program

Lawrence Roulston, CEO, 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, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
(604) 914-2142

For further information, contact:   
Nancy Curry
VP Corporate Development                                              
(604) 220-2971

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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