Corporate Update, Claim Acquisition and New Mineral Discovery
11 September 2017 - 2:00PM
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 SilverThe 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 CopperThe 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 CreekThe 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 PropertyThe 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 CliffDrilling 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.”
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