• SkyTEM airborne geophysical survey in June/July
  • Further geological investigation of copper and gold values from previous surface samples.
  • Follow up fieldwork, including vectoring for potential drill targets.

Vancouver, BC – Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”) (TSX.V: MTB; OTCQB: MBYMF; Frankfurt: M9UA) is pleased to report that a SkyTEM airborne geophysical survey over the Southmore Project is scheduled to begin within the next few weeks. Following the geophysical program, a field program is planned to ground truth geophysical results and expand on the current exploration results with the intention of developing future drill targets.

The 5,038-hectare Southmore property is located in the Golden Triangle of British Columbia, 30 km southeast of Teck Resources Ltd.’s Galore Creek deposit. The completed portion of the Galore Creek access road is within 12 km of the Southmore Project. Southmore is also located between Enduro’s Newmont Lake property to the south and directly south of Sassy Resources (“Sassy”) Foremore property.

Five documented northeast trends on Sassy’s Foremore property, including the More Creek Corridor trend that hosts the Westmore discovery, track onto the Southmore project. Sassy has demonstrated high-grade gold and silver mineralization associated with the Westmore intrusive at Foremore, now believed to be Early Jurassic in age. This age of this grassroots discovery is similar with other Jurassic-aged gold deposits in the Golden Triangle (Sassy NR May 10th 2021). Mineralization intersected in diamond drilling includes a 0.80-meter interval that assayed 26.5 g/t Au, 85 g/t Ag, 8.6% Zn, 2.2% Cu and 1.28% Pb (drill hole FM04-32 – refer to December 17, 2020 news release).

Numerous styles of mineralization have been noted on the Southmore property including porphyry, skarn, VHMS and epithermal mineralization. The 2019 field program confirmed the encouraging results of exploration work conducted in 1990’s. The 2020 field program identified several structurally controlled domains, as well as new areas with copper and gold mineralization. A small talus fines geochemistry program was also conducted on the property and two multi-element anomalies were identified. Mountain Boy’s geological team has identified several compelling targets.

Building on the success of the last two field programs, the SkyTEM geophysical survey will be the initial component of this year’s exploration program. The electromagnetic and magnetic data collected will give the Company insights into the lithological contacts, property scale structures, geology and potential zones of mineralization. Mountain Boy anticipates that geophysical anomalies and domains will help in mapping out potential drill targets. The survey will be followed up with continued prospecting, geological mapping as well as talus fines, rock and channel sampling.

Highlights of 2020 Surface Sample Results on Southmore(from ** news release)

Sample ID Sample Type Au (g/t) Cu (%) Ag (g/t) Pb (%) Zn (%)
71599 Float 3.086 8.214 51.49 0.0013 0.003
A00217698 Float <0.005 0.136 0.03 0.0001 0.001
C0034452 Grab <0.005 0.211 0.03 0.0004 0.008
C0034451 grab <0.005 0.366 0.25 0.0004 0.008
A00217696 float <0.005 0.674 0.14 0.0003 0.011
71584 grab 0.231 0.099 16.89 0.0491 4.660
71564 grab 0.011 12.700 32.30 0.0018 0.159
71563 grab <0.005 0.015 0.90 0.0040 0.194
A00217692 grab <0.005 0.507 1.19 0.0005 0.003
71578 grab 0.063 0.220 1.60 0.0006 0.016
71580 grab <0.005 0.125 0.62 0.0080 0.003
71556 grab <0.005 0.344 0.35 0.0005 0.005
71555 grab <0.005 0.440 1.19 0.0011 0.007
71567 grab 0.099 0.987 11.54 0.1681 2.760
71566 grab 0.096 0.214 2.39 0.0193 0.026
71552 grab <0.005 0.016 0.69 0.0036 0.012
71553 grab <0.005 0.022 0.41 0.0061 0.286
C0034470 float <0.005 0.569 1.27 0.0004 0.011

Lucia Theny, VP exploration, comments, “The geophysical survey will help to understand the complex geology of this property, which exhibits a variety of mineralizing styles. With that additional information, we will conduct further field work, leading to determination of drill targets.”

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

  1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.
  2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway.
  3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.
  4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a recent grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).
  5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc.
  6. The Telegraph project, covering 23,600 hectares, has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle.

Mountain Boy is funded for the coming field season and plans to advance these projects, including drilling on select targets.

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

 

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

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This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.