• 2020 field work defined a 500-meter-long silver trend.
  • 39 kg/t silver in a recent grab sample. 
  • Aligns with geophysical trend.

Vancouver, BC – Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) announces results of the 2020 field work which identified a 500-meter-long trend of silver bearing mineralization on the newly acquired Theia property in BC’s Golden Triangle.  Based on encouraging results, Mountain Boy will continue exploration on the property during the upcoming 2021 field season.

The Company has been researching silver occurrences in the Golden Triangle that were identified in earlier exploration programs focused on gold. The Mountain Boy geological team was attracted to high-grade silver results reported in the 1990’s that had not been followed up since their discovery. Based on these results and other mineralized occurrences in the area, the company consolidated a 100% ownership in 9,265 hectares (92 sq kms) of mineral rights through staking and three purchase agreements.

Historic exploration on the Theia property began with base metal discoveries in the 1960s. In the 1990’s, following the discovery of the nearby Red Mountain gold deposit, the area was explored for gold, resulting in the discovery of several gold-bearing quartz veins as well as some high-grade silver veins.

In 2020 field work was spent following up on the high-grade silver occurrences identified in the 1990’s. The team confirmed the historic occurrences and extended the mineralized trend to 500 meters. Recent grab samples include the following results:

  • 39 kg/t silver, 3.45 g/t gold, 45.8% lead,1.25% copper, 2.57% zinc.
  • 1.68 kg/t silver, 3.46 % lead, and 2.7% zinc.

(The reader is cautioned that grab samples are selective by nature and may not represent the true mineralization on the property).

Highlights of historic and 2020 results are presented in the following table.

Sample No Year AU (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%)
A00217672 2020 3.941 39293.0 1.251 45.790 2.570
ERK94070 1994 4.500 7409.0 2.180 0.055 0.215
ERK94071 1994 2.850 4320.0 0.662 0.028 0.047
A00217671 2020 0.180 1681.0 0.081 3.460 0.270
ERKDC-09 1994 0.140 701.4 0.135 4.260 19.300
ERKDC-11 1994 0.540 645.3 0.053 0.363 0.146
ERK94585 1994 0.280 507.4 0.135 0.713 0.864
KK94091 1994 0.680 211.1 0.018 0.597 0.325
ERK94072 1994 0.245 149.3 0.015 0.002 0.004
A00217673 2020 0.033 71.3 0.010 0.049 0.013
71538 2020 0.008 65.0 0.017 0.060 0.005
KK94090 1994 0.780 64.3 0.010 0.069 0.155
KK94628 1994 0.170 62.3 0.003 1.750 1.960
ERK94573 1994 0.450 45.8 0.027 0.030 0.039
A00217674 2020 0.013 45.1 0.007 0.051 0.008
KK94625 1994 0.420 2.8 0.001 0.010 0.016

Table 1 – Selected grab samples from 1994 and 2020 programs

The geological team continues to assemble the results of previous work conducted by numerous companies over various parts of this extensive property.  An airborne geophysical survey was flown in 2010, involving magnetics and versatile time domain electromagnetics (VTEM). The survey identified a number of EM and magnetic trends of interest. The Company plans a more thorough interpretation of this geophysical survey and will use the results in guiding future field work. Receding glaciers in the area have also exposed ground that has never been explored. A follow-up program is being designed for 2021 to further evaluate the Theia project and an application for a drill permit has been submitted.

Further details, including the historic sample values, can be found on the website at: https://www.mountainboyminerals.ca/project/theia/

Lawrence Roulston, CEO, commented: “The Golden Triangle has seen a lot of exploration beginning in the late 1980s and conducted by multiple companies, each with a narrow focus. Most of that work was directed towards gold. The Theia project resulted from assembling information from multiple sources and consolidating a large ground position. In the decades-long search for gold in this region, some highly prospective silver occurrences were identified which are of particular interest to the Company.”

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.