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Mountain Boy Minerals Ltd (2)
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Mountain Boy to begin drilling at American Creek Sept. 16

2020-09-15 10:15 ET - News Release

Mr. Lawrence Roulston reports


The fully financed 4,000-metre drill program on Mountain Boy Minerals Ltd.'s 100-per-cent-owned American Creek project, located in the Golden Triangle of British Columbia, is scheduled to begin Sept. 16, 2020.

Work over the past several years has identified a large mineralizing system on the consolidated American Creek project now held by Mountain Boy, which includes the past-producing high-grade Mountain Boy silver mine.

The drill program is intended to confirm the geological model that points to large-scale silver-gold potential. The emerging geological model indicates that the numerous mineralized occurrences are potential surface expressions of a larger geological system. That system is interpreted to be analogous to the past-producing Premier district, located immediately west of the American Creek property (see news release dated May 21, 2020).

To further support the drill targeting, an airborne lidar (laser imaging, detection and ranging) survey has been flown over the entire property. Lidar provides accurate topographic information that will be useful for structural mapping and interpretation, topographic control for drill targets, and tying together the results from earlier work that has been conducted by multiple operators working independently on small portions of the current property. Given the steep nature of the eastern portion of the property, the lidar survey will be invaluable for providing ground control for drilling the epithermal veins, which have yielded high-grade silver in the past.

In addition to completing the lidar survey, the company has completed a Volterra 3-D induced polarization survey. This geophysical survey has outlined several northwest-trending anomalies.

2020 drill program

MB silver target

The first drill target will be in the vicinity of the historic mining and is designed to follow up on the 2006 drill program, which intersected multikilogram silver values over significant widths. The first drill target will be in the vicinity of the historic mining and is designed to follow up on the 2006 drill program, which intersected silver values in excess of one kilogram per tonne in five holes, including hole 2006-10, which encountered 5.18 metres of 5,258 grams per tonne silver (see Mountain Boy's news release dated Jan. 30, 2007). The drilling is intended to test for continuity of the high-grade zone both along strike and at depth.

Dorothy target

The second drill target is the northern extension of the silver-bearing veins onto the recently optioned Dorothy property. Continuing geological work, including mapping and structural interpretation, is enhancing the understanding of the mineralization and the orientations of these multiple silver-bearing veins.

Wolfmoon target

The IP survey focused on the third target -- the recently discovered Wolfmoon zone, where 28.5 grams per tonne gold and 1,200 grams per tonne silver were recently discovered in separate rock grab samples (see news release dated Jan. 14, 2020). Surface samples with high grades of gold and silver were identified within an extensive alteration zone, which has recently emerged from ice cover. IP surveys have been useful in a similar geological setting on Ascot Resources Ltd.'s Premier gold mine immediately to the west. The IP survey has helped to identify the orientation and width of the mineralized structures sampled at surface, optimizing the prospects of intersecting mineralization with the drilling.

About American Creek

The American Creek project is located in the highly prospective American Creek corridor of British Columbia's Golden Triangle. The property, which has a rich mining history, is road accessible and is 22 kilometres north of the deepwater seaport of Stewart. Mountain Boy has consolidated a 2,600-hectare property and compiled historic production and exploration information.

Mountain Boy Minerals considers the area to have high potential to host one or more deposits. The presence of numerous nearby past producers, the proximity to the Premier mill, an evolving understanding of the geology, and encouraging results and discoveries in the region all support the highly prospective nature of this property.

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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