Drilling Update on the Montrose Zone -Visible Gold in 5th Hole Within a Wide Mineralized Intrusive Section
STEWART, British Columbia, July 31, 2017 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd. (TSX-V:MTB) (Frankfurt:M9U) (“Mountain Boy”) reports that Phase I drilling is continuing on the Red Cliff property. On the Red Cliff project, the Company and Decade Resources are in joint venture on the Crown Granted portion of the property which is owned 65% by Decade and 35% by Mountain Boy. The Silver Crown 6 claim, in which Decade is earning a 100% interest, is adjacent to the north portion of the crown grants. To the north of the Silver Crown 6 claim, Mountain Boy owns a 100% interest in the MB property. The Red Cliff Extension claim owned 100% by Decade is along the east side of the Silver Crown 6 claim.
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Drilling on the 5th hole on the Montrose zone has intersected a wide mineralized intrusive within red tuffs forming the Betty Creek formation. The drill hole collar is located 30 m north and 25 m higher in elevation relative to 2017 drill holes 1-3. The hole tested the zone lower in elevation than the previous 2017 holes. Logging the core has indicated 3 main mineralized sections within the intrusive. Along the east edge, a zone of galena-sphalerite-chalcopyrite stringers occur in zones up to 5 m wide. Near the west edge of the intrusive, another galena-sphalerite-chalcopyrite stringer zone is present. This grades into a chalcopyrite-pyrite zone along the west contact. Between the above zones, weakly pyritic intrusive is present. The fifth hole was drilled to test beneath some of the gold bearing intersections in the following holes:
| DRILL HOLE | INTERSECTION WIDTH | GOLD GRADE (g/T) |
| DDH-MON-2011-2 | 12.96 m | 10.05 |
| DDH-MON-2011-29 | 10.28 m | 10.85 |
| DDH-MON-2011-37 | 8.32 | 16.53 |
| DDH_MON-2012-61 | 35.06 | 7.83 |
The location of all holes up to 2012 are shown on the 43-101 report located on the Company website. Figure 30 on this report shows the modelling looking SW along the Montrose zone. It is the intention to extend the testing of the gold bearing zone along strike and to depth.
The hole drilled at minus 55 degrees at an azimuth of 268 degrees, intersected fine visible gold within several galena-sphalerite-chalcopyrite stringers at 286.59 m. Coarse gold was intersected in several spots within a chalcopyrite-pyrite rich section up to 2.5 m wide at 314.02 m. For 6 m above the visible gold intersection in the chalcopyrite, the core contained brecciated intrusive with pyrite-minor chalcopyrite-hematite veins surrounding clasts. Several photos show the chalcopyrite rich core as well as gold area circled in a white crayon.
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Core is being logged and cut at present and assays for the earlier drilling is expected within two weeks.
A quality assurance/quality control program including blanks and standards form part of the sampling protocol in addition to the laboratory's own quality assurance program. The field program is supervised by Mountain Boy Mineral staff and the technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, will be in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Mountain Boy as he is the president of the Company.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings around the Stewart region in British Columbia’s golden triangle. It owns 20% of the Silver Coin project, a gold-silver-base metals project that has a 43-101 compliant resource calculated. The Company is also exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on their Stewart area claims. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF Mountain Boy Minerals Ltd.
“Ed Kruchkowski”
Ed Kruchkowski, President
“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.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”