MBYMF - Mountain Boy Minerals Provides Timeline on Pending Assay Results and Updates on 4 Silver and Gold Projects
(TheNewswire)
February 2, 2021 - The Newswire - Vancouver, BC - Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”)(TSX V: MTB ) ( Frankfurt: M9UA) is pleased to update progresson four of its silver and gold exploration projects in BC’s GoldenTriangle.
American Creek Project
The assay lab has committed to delivery of assays within two weeks forthe fall drilling program that MTB conducted around the historicMountain Boy silver mine. The Company is awaiting results from the11-hole drill program which finished at the beginning of November.Like most explorers, we have had to contend with unprecedented delaysat the assay labs.
The 2020 drilling included holes stepping out from the old mineworkings, where along strike favourable results were drilled in 2006and a new target 430 meters north along trend. Another target, 2 km tothe west, was also tested. The presence of visible silver sulphideminerals and other visual geological information in the drill coresupported the decision to continue to aggressively advance theproject. A drill plan has already been developed for the 2021 fieldseason, 3 drill pads are constructed, and contractors are in place toresume drilling this upcoming field season.
BA Silver Project
The geological team are reviewing and re-evaluating results and datafrom previous work on the BA project, including 180 drill holescompleted by Mountain Boy and former joint venture partner Great BearResources Ltd. at the Barbara zone, 4 kms south of highway 37A, 30 kmsnortheast of Stewart.
The drilling outlined an extensive zone of silver-lead-zinc VHMSmineralization. The evolving geological interpretation is helping topinpoint areas within the mineralized system most likely to host zonesof high-grade silver, in addition new target areas are also beingidentified. The geological team believes that the Barbara zone ispart of a mineralized horizon that extends for at least 10 kms onthe MTB property. Drill permits are in place for possible drillingin the upcoming field season.
Surprise Creek Project
Earlier work by Mountain Boy and previous operators has identifiedmultiple silver-lead-zinc VHMS targets on the property. One of thosetargets – the Ataman – was tested by MTB with four drill holes in2016 and 2017. Hole SC17-03 intersected 26 metres that averaged 22.3grams per tonne silver 0.36% copper, 0.03% lead, 1.03% zinc and 41.0%barite. The current interpretation is that the 2016 drilling testedthe feeder zone to the VHMS system. A surface sample in 2019 from adifferent part of the system assayed 1,130 g/t Ag, 3.3 g/t Au, 8.6%Pb, and 0.3% Zn. (2019 assessment report.) MTB is renewing the drillpermits for the 2021 field season.
Theia Project
MTB recently completed the acquisition of the Theia project, wherebythree agreements along with staking has consolidated a 90 sq kmproperty east of Ascot’s Red Mountain project, northeast of DollyVarden Silver Corp’s namesake Dolly Varden project, and immediatelynorth of Hecla Mining’s Kinskuch project. Hecla is the largestprimary silver producer in the U.S.
Previous work on the Theia project was devoted to primarily goldexploration. A compilation and review of the earlier work togetherwith field work last fall, led the company to secure the ground forthe silver potential. Assays from the fall field work are stillpending but the presence of visible silver sulphide minerals supportedthe decision to assemble the ground. A comprehensive explorationprogram is planned for the upcoming field season.
OTCQX Listing underway
The Company further reports that is applying for an OTCQX listing and is currently DTC eligible. DTC isa subsidiary of the Depository Trust & Clearing Corp., a UnitedStates company that manages the electronic clearing and settlement ofpublicly traded companies. Securities that are eligible to beelectronically cleared and settled through DTC are considered to beDTC eligible. DTC eligibility simplifies the process of trading andtransferring the company's common shares between brokerages in theUnited States. DTC eligibility is expected to create a seamlessprocess of trading and enhance liquidity of the Company's commonshares in the United States over time.
The technical disclosure in this release has been read and approved byAndrew Wilkins, B.Sc., P.Geo., a qualified person as defined inNational Instrument 43-101.
On behalf of the Board ofDirectors:
Lawrence Roulston
President & CEO
For further information, contact:
Nancy Curry
VP Corporate Development
(604) 220-2971
NEITHER TSX VENTURE EXCHANGE NOR ITSREGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIESOF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACYOR ACCURACY OF THIS RELEASE.
This news release may containcertain "forward looking statements". Forward-lookingstatements involve known and unknown risks, uncertainties, assumptionsand other factors that may cause the actual results, performance orachievements of the Company to be materially different from any futureresults, performance or achievements expressed or implied by theforward-looking statements. Any forward-looking statement speaks onlyas of the date of this news release and, except as may be required byapplicable securities laws, the Company disclaims any intent orobligation to update any forward-looking statement, whether as aresult of new information, future events or results orotherwise.
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