|September 26, 2017|
390 g/t GOLD OVER 5 m in CHIP SAMPLING and 19.9 g/t GOLD over 4.12 m in DDH-17-MON-5 @ Montrose Zone/ Red Cliff project
|Stewart, BC - Mountain Boy Minerals Ltd ("Mountain Boy") reports that 3 different drill programs are ongoing on its properties located in the "Golden Triangle" area of British Columbia. Mountain Boy Minerals Ltd has a 20% carried interest in the Silver Coin, a 35% interest in the Red Cliff and owns 100% of the BA/Surprise Creek property.|
The program underway will consist of approximately 2000 m of drilling and will focus on extending and upgrading lenses of known high grade gold mineralization within the Main Breccia Zone to the northwest as well as testing additional targets along strike to the south and potential sub-parallel zone to the East. Historical total inferred mineral resource estimate for the high-grade core at Silver Coin consists of 967,000 tonnes grading 4.39 g/t Au, 18.98 g/t Ag (Au equivalent of Ag - 4.64 g/t), 0.64% Zn, 0.25% Pb, and 0.04%. This was calculated in accordance with National Instrument 43-101 standards, at a 2 g/t Au cut-off by Mining Plus Canada - August, 2013 and filed on SEDAR by the operator. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources.
On the Ataman zone, a 500 to 600m drill program will test and sample the large barite zone within the Kuroko type VMS zone. Drilling is expected to start September 26.
Exploration to date has consisted of drilling, mapping, sampling and assaying additional core from the 2007-2012 programs. Drilling has been aimed at checking for extensions of the copper rich Red Cliff zone as well as extending the Montrose gold-copper zone. To date 5 holes were completed on the Red Cliff zone and 28 on the Montrose zone, approximately 1.2 km north from the first 5 holes.
Drill results are summarized below for the first holes on the Montrose as follows:
DDH-17-MON-1 & 2 contained 1-2 g/t gold over 1-2 m sections. Visible gold has been noted in 5 other drill holes completed on the Montrose zone.
Drill results are summarized below for the first holes on the Red Cliff as follows:
DDH-17-RC-1, 2 and 3 contained low values.
The geological and surface sampling work carried out in 2017 indicates that the mineralization within the Montrose area is complex and may consist of several zones within a wide interval of altered rocks. It is associated with a zone of latite intrusives that have highly altered the adjoining country rock so that contacts are obscure. Fine grained pyrite is present throughout the mineralized zones in amounts from 1-10 %. Later veining within the intrusive and contact areas consists of zones of sphalerite-galena-minor chalcopyrite veinlets. Fine visible gold is commonly noted in these veinlets. A later stage of chalcopyrite-pyrite --quartz veins are present along the west side of the mineralized zone. Coarse visible gold is commonly present in the later mineralization. The Montrose zone is an north-south trending zone that has cross-cutting veins from to 2 m to 5 wide that trend east-west for at least 25 metres into the wall zones. Within the Lower Montrose portion of the Montrose, massive sulphide veins up to 2.5 m wide had reported assays up to 270 g/t gold while 25 m east, sampling had shown assays up to 49 g/t gold over 0.5 m. This is historic sampling which has not been verified by the Company. It is used for reference purposes. The Company had a crew of climbers that has identified the location of the Waterpump zone as well as sampling across this zone. Historic surface sampling has indicated 12 g/t gold over 8 m along the Lydden Creek canyon. This is historic sampling which has not been verified by the Company. It is used for reference purposes.
The Company carried out its own sampling on the Lower Montrose and Waterpump zones with highlights of some of the sampling as follows:
To date, gold bearing mineralization has been identified over 2 km of strike length with the Red Cliff zone to the south and the Montrose zone to the north. The Montrose, Lower Montrose and Waterpump zones are considered to be one zone that has been displaced by faulting. Also, within the Montrose zone, faulting appears to have resulted in repeat sections of mineralization. As well, there appears to be a wide mineralized splay that strikes SW from the main Montrose zone, resulting in wide target areas that are gold bearing over 50 m of width. From the Waterpump zone to the north end of the identified Montrose zone, mineralization extends to over 600 m of strike length and at least 600 m of depth and is open along strike and depth. It extends from the ridge top hosting the Montrose zone at 725 m elevation to 125m elevation as shown by DDDH-12-11. Width of the gold bearing zone varies from 5 to 40 m with an average of 22 m.
The Company plans to continue drilling to test several areas prior to completion of the program: Drilling will include:
Samples for the 2017 exploration program are cut in half with a diamond saw, with one-half placed in sealed bags and shipped to ActLabs in Kamloops, B.C., for sample preparation and for gold and multielement ICP analysis. A quality control/quality assurance program, including the insertion of standards and blanks, has been implemented.
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is 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 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, 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."
You can view the Next News Releases item: Thu Oct 12, 2017, Update On Company Drill Programs - New High-Grade Sub-Surface Zone Identified At Silver Coin Gold Project, NW, BC
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