|October 31, 2017|
Drilling Intersects Visible Gold on the Waterpump Zone within the Red Cliff Project-Extends Montrose Zone by 150 m.
|Stewart, BC -- Mountain Boy Minerals Ltd ("Mountain Boy") reports that the 2017 drill program is testing the Waterpump zone (faulted extension of the Montrose zone) on the Red Cliff property located in the "Golden Triangle" area of British Columbia. 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.|
Mineralization encountered in the present drilling is the first intersection by the Company on the Waterpump zone. The Company was able to locate the exact position of this zone by using rock climbing geologists to obtain GPS co-ordinates. Drilling indicates weak sphalerite-galena-chalcopyrite veining in the wall of a strong breccia that contains quartz-pyrite-minor chalcopyrite over 15-20 m true width. Quartz-sulphide forms from 10-30 % of the breccia zone. Visible gold has been observed in sphalerite-galena-chalcopyrite veinlets as well as in quartz-pyrite veinlets. Sampling in 1973, yielded 40.68 g/t gold over 3.05 m with grab sampling up to 170.2 g/t gold. In 1987, sampling returned 12 g/t gold over 8.5 m along an area located 30 m above the 1973 sampling. The Company has verified the high grade nature of the zone with the 2017 sampling by the rock climbers which gave 19.9 g/t gold over 4m along part of the structure.
Drilling is continuing as the area of exploration is located at low elevations. The Company has completed 4 holes on the Waterpump and is expecting to complete at least another 4 to 6 holes. These hole locations will be surveyed and data will be entered into the new model. Additional assay data from cutting and sampling historic holes will also be used.
Assay results from the Montrose drilling are expected shortly and will be released when the Company receives and tabulates the results.
A diagram of the Waterpump zone is attached based on 1987 exploration. The Company has determined that the zone is a north-south structure. In addition to the diagram, a photo showing the Waterpump zone is attached. The photo shows the rusty zone with the constructed drill access road.
Ed Kruchkowski, president of the Company states: "Results continue to indicate a large and extensive mineralized zone for the Montrose that has a length of at least 600 m of depth, 600 m of strike length and widths up to 40 m. The zone is open to depth and along strike. The Company is excited to be conducting the first ever resource calculation for this property located 2 km from power and a paved highway."
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 contains forward--looking statements related to the anticipated closing of the royalty purchase. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including risks related to receipt of required regulatory approval and general transaction closing risk. Actual results may differ materially from those currently anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities laws.
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