Corporate Update, Claim Acquisition and New Mineral Discovery
STEWART, British Columbia, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd. (TSX-V:MTB) (Frankfurt:M9U) (“Mountain Boy”) reports that exploration programs are ongoing on properties located in the “Golden Triangle” area of British Columbia. The Company also is pleased to announce that final approval from the TSX Venture Exchange has been received for the acquisition of the remaining 50% interest in and to each of the BA and Surprise Creek joint ventures. This will allow the Company to have a 100% interest in the above joint ventures and associated properties. Ed Kruchkowski, president of the Company states: “Acquisition of the properties allows the Company to aggressively explore for VMS deposits as well as gold-silver bearing zones indicated in historic programs. Both properties have zones of high grade zinc-lead-silver as well as zinc-copper-silver. Based on belief that approval would be granted, the Company has been actively exploring the Surprise Creek and BA properties, prior to the formal approval.”
To date, the Company has conducted exploration programs on the following properties:
MB Silver
The Company sampled several chalcopyrite rich structures located west and above the previously explored High Grade vein. Mineralization is located along replacement zones within the Betty Creek formation. Samples were collected from two different zones located several hundred metres apart during this sampling program. Bedrock samples were taken and have been sent for assay.
West George Copper
The Company has struck an option agreement whereby it can earn a 60-per-cent interest in West George Copper in return for the use of assessment work credits. The property consists of 288 hectares adjacent to the Company’s 100% owned George Copper project. The project has a silica cap over highly sericite altered andesitic rocks containing sulphide bearing quartz stockworks. High copper values with 2-3 g/t gold have been obtained on the talus slopes below the silica cap. A geological crew with the capability to sample the steep slopes is presently working on the property. Samples are being collected from the main alteration zone during this sampling program. Bedrock samples that are taken will be sent to the lab for assay shortly.
Surprise Creek
The Company has conducted exploration along the south edge of the claims and has discovered a new zone of gold-silver mineralization associated with a quartz stockwork containing tetrahedrite, pyrite, arsenopyrite and chalcopyrite. Gold assays are up to 3 g/t with associated 324 g/t silver assays. Follow up work is planned for this area to determine the extent of this mineralization.
On the Ataman zone, sampling is continuing north of the latest drilling to map and sample the large barite zone within the Kuroko type VMS zone. Further sampling is being carried out to define other areas of VMS mineralization indicated in historic sampling. The Company has permits in place and drilling on the Ataman zone is planned for later in September. Rock sampling is ongoing.
BA Property
The Company has sampled an area just north of 2016 channel sampling that indicated 7.50 m of 5.31% Zn, 1.97% Pb and 132 g/t Ag within 15.0 m of 3.84% Zn, 1.25% Pb and 108 g/t Ag. The Company has outlined drill locations to test the north extension as well as to depth.
Red Cliff
Drilling is continuing on the Red Cliff property, to depth as well as testing for north extensions. A total of 25 holes have been completed. The Company is awaiting check assays prior to releasing results for this drilling.
The Company has sampling crews that are obtaining samples from the Lydden Creek canyon on both the Waterpump as well as Lower Montrose zone. On receipt of assays from the Waterpump zone, the Company plans to conduct a drill program to test it. Historic numbers indicate 12 g/t gold over 8 metres along a trench sampling program. These numbers have not been verified by any Company sampling and are used for reference purpose.
In addition, the Company has added to the claim holdings by participating in a joint venture on claims to the SE of the Red Cliff Crown Granted claims. The joint venture can earn an 80% interest with the Company interest being 28% (35% interest in the Red Cliff JV).
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.
The Company is presently in the midst of a $1,000,000 financing with non flow through shares priced at $0.08 and flow through shares priced at $0.10 with each having an attached 2 year full warrant. Two thirds of the financing has been completed with management participation and closing is expected shortly.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings within the Stewart region located in the very prolific area of 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.”