Vancouver, BC – Mountain Boy Minerals Ltd (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) reports a new gold-silver discovery on its American Creek West project, located in the Golden Triangle of British Columbia, 20 km north of the deep-water port of Stewart, BC. The property spans 6 km of the highly prospective American Creek corridor and includes the historic Mountain Boy Mine, a high-grade silver mine that last operated in the 1930s.

Highlights:

  • A rock sample from the new discovery assayed 8.4g/t gold and 903 g/t silver.
  • 61 of 63 samples from the zone were anomalous in at least two metals.
  • The geological team is now refining targets in preparation for initial drilling.
  • Targets include:
    • The new discovery;
    • Extension of the Mountain Boy mine;
    • The Maybe vein system north of the mine that has never been worked or drilled.

The Mountain Boy team has developed a new geological model, based on a century of historic results and two field seasons on the ground. It is now recognized that the extensive mineralization in the area is related to an intermediate sulfidation epithermal system. An intrusive body identified by the MTB team near American Creek is believed to be the magmatic heat source and the source of the metals. Geochronology and other studies are on going to further characterize that intrusive.

The geological setting, style of mineralization, nature of the intrusive body and the scale of the system has many similarities to the Premier Camp, located immediately to the west. The Premier Camp produced 2.5 million ounces of gold and 50 million ounces of silver from 1918 to 1996.

The new discovery area, located west of the Mountain Boy mine, was covered by glaciers during the early years of exploration along American Creek and has not seen recorded work in modern times. Guided by the emerging geological model, the team mapped and sampled a prospective area that resulted in the new discovery. Select sample results are presented in Table 1.

Table 1: Select rock samples.

Sample No TypeSam Ag
(g/t)
Cu
(ppm)
Pb
(ppm)
Zn
(ppm)
Au
(ppb)
KD19-155R grab 903 214 >5000 7470 8440
LT19-139R float 724 687 >5000 2670 16
LT19-162R grab 292 38.7 1320 2620 526
LT19-161AR grab 283 58.1 1060 3190 889
LT19-165R grab 72.8 1880 >5000 30900 50
LT19-170R grab 46.1 544 >5000 274 362
KD19-146R grab 35 28.3 >5000 83100 3
LT19-155AR grab 33.6 44.4 >5000 >100000 -2
AW19-045 grab 24.2 29.7 944 1110 284
KD19-097BR grab 23.3 471 >5000 55800 190
KD19-097R grab 18.3 212 >5000 28800 184
AW19-025 float 14.6 >10000 41.3 255 3490
KD19-158AR grab 14.3 6 >5000 10300 15
LT19-166R grab 7.58 23 1230 1950 23
LT19-103R proximal float 5.26 4940 55.5 1560 48
KD19-080R float 4.27 4400 19.2 605 139
LT19-114R grab 3.1 154 1960 1310 24
KD19-147R grab 2.79 7 2000 4950 -2
LT19-100AR proximal float 2.08 4210 19.3 281 195
LT19-102R grab 1.55 84.2 34.4 59300 101
LT19-099R proximal float 0.86 20.3 63.2 7160 8
LT19-101R proximal float 0.86 29.5 399 10000 -2

Note: Assays shown as > represent over limits, which are currently being further analyzed.

These samples are characterized by an ore mineralogy suite that in part defines intermediate epithermal deposits (Sillitoe and Hedenquist, 2003). Ore minerals, such as acanthite, Ag-sulfosalts, low Fe sphalerite, galena, tetrahedrite-tennantite and chalcopyrite were identified in the field; the correlating assays to these samples exemplify the poly-metallic nature of the prospect. In addition to the ore mineralogy, several vein textures that further support the intermediate epithermal model were observed, such as open space filling textures, crustiform banding and carbonate replacement.

Lucia Theny, VP Exploration for Mountain Boy, commented: “We have now collected abundant evidence in the field for a mineralizing system adjacent to American Creek which parallels and is distinct from the Premier system. The multitude of occurrences, deposits and past-producing mines along both sides of American Creek can now be explained in the context of this updated geological model.”

Lawrence Roulston, CEO, noted: “The MTB geological team have done a superb job of identifying the intrusive body under American Creek and assembling and interpreting abundant geological evidence to understand this area. The updated model has enormous implications for on-going exploration. This new discovery highlights the potential for further discoveries on our extensive property.”

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
(604) 914-2142

 

For further information, contact:
Nancy Curry
VP Corporate Development
(604) 220-2971

 

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