- A 700-meter step out from drill hole DOK2023-01 intersects several copper-gold intervals.
- Drilling spans 3.3 kms of the open ended Dok Trend.
- 3DIP Geophysics provides guidance for next round of drilling.
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) ("MTB" or the "Company") is pleased to report assays from drill holes DOK2023-02 and DOK2023-03. These holes partially define an area of interest for 2024 drilling.
The third hole from the 2023 program successfully expanded the strike-length and width of mineralization along the Dok Trend. The hole cut several copper-gold intercepts including 21 meters of 0.68% Cu Eq and 8.6 meters of 0.57% Cu Eq. (Table 1)
Lawrence Roulston, CEO, stated: "These initial holes have confirmed the presence of a porphyry hydrothermal system spanning at least 3.3 kilometers. This is a large, complex, multi-phase system is located in the same geological setting as four other world class deposits located in the area. Significant exploration potential exists along the Dok Trend. This premise is supported by drilling, a continuous induced polarization (IP) chargeability anomaly, fertile porphyry intrusive units, and anomalous copper and gold in soil geochemistry. Continued compilation of the drilling results together with the late-season 3DIP and other geological information will provide a basis for vectoring toward the core of the system with subsequent drilling."
DOK2023-03 targeted a moderate IP chargeability anomaly, underneath an outcrop which returned high-grade grab samples including 3.22% copper with 4.62 g/t gold. The hole was placed along the most easterly line from the 2012 IP program and the 2023 3DIP data had not been collected. Table 1 highlights the significant assays from the hole.
This hole encountered sedimentary-volcanic Stuhini host rocks, post mineral rhyolitic dykes and several variably mineralized monzonite dykes. Potassium feldspar and secondary biotite alteration is noted in several phases of the monzonite dykes. Of note are the five monzonite dykes up to 1 metre wide encountered between 230.9 and 237.7 metres. Clots of secondary coarse biotite and potassium feldspar is clearly recognizable and assays of up to 3.14 % occur within the dyke. The section hosting the dykes assayed 0.57% Cu Eq over 8.6 metres (Figures 1, 2, and 3).
Table 1 - Highlighted assay results from drill hole DOK2023-03
| Drill Hole | From | To | Width | | Cu (%) | Au (gpt) | Ag (gpt) | Mo (ppm) | Cu Eq (%) |
| DOK2023-03 | 5.0 | 26.0 | 21.0 | metres of | 0.23 | 0.16 | 35.30 | 5.25 | 0.67 |
| including | 11.0 | 14.0 | 3.0 | metres of | 0.22 | 0.148 | 229.00 | 7.1 | 2.37 |
| | | | | | | | | | |
| DOK2023-03 | 192.9 | 196.2 | 3.3 | metres of | 0.18 | 0.05 | 1.64 | 1.95 | 0.23 |
| including | 192.9 | 193.5 | 0.7 | metres of | 0.41 | 0.077 | 5.35 | 2.7 | 0.52 |
| | | | | | | | | | |
| DOK2023-03 | 229.1 | 237.7 | 8.6 | metres of | 0.46 | 0.06 | 6.99 | 7.17 | 0.57 |
| including | 232.7 | 237.7 | 5.0 | metres of | 0.70 | 0.09 | 11.2 | 4.36 | 0.87 |
| including | 232.7 | 233.6 | 0.9 | metres of | 1.60 | 0.23 | 13.3 | 6.11 | 1.90 |
| including | 233.3 | 233.6 | 0.3 | metres of | 3.14 | 0.05 | 27.4 | 9.21 | 3.42 |
| | | | | | | | | | |
| DOK2023-03 | 279.8 | 299.0 | 19.3 | metres of | 0.15 | 0.08 | 1.15 | 5.24 | 0.22 |
| | | | | | | | | | |
| DOK2023-03 | 533.4 | 534.3 | 0.9 | metres of | 0.58 | 0.234 | 2.86 | 3.8 | 0.79 |
The copper equivalent calculation utilizes the standard equation and is based on current (January 11, 2024) spot metal prices of copper at US$3.78 per pound, gold at US$2,032 per ounce, silver at US$23.03 per ounce, and molybdenum at $19.50 per pound. Recoveries are set at 100% for all metals for purposes of the copper equivalent calculation as no metallurgical test data is available. Cu Eq is used for illustrative purposes only and does not imply that the metals are economically recoverable.
Figure 1 - DK2023-03 from 229.1 to 237.7 meters yielding 8.6 meters of 0.57 Cu Eq (%).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5332/194567_f525f1bcd4871bf3_002full.jpg
DOK2023-02 (Figure 2 and 4) tested the Red Creek zone, 3 km southeast of DOK2023-01 and was the first hole drilled in that area. The hole encountered low grade copper and gold mineralization from surface to 500 meters and zones of up to 30% disseminated and semi-massive pyrite mineralization. DOK2023-02 is surmised to be within the peripheral zone of a magmatic hydrothermal porphyry system, based on both vertical and lateral distribution of porphyry related trace elements; significant sericite, silica, and chlorite alteration; and multi-percent pyrite.
DOK2023-02 demonstrates that the magmatic hydrothermal footprint at Telegraph extends for several kilometers and that the Dok and Red Creek areas have the potential to host several porphyries. The drill hole mainly intersected the sedimentary-volcanic host rocks and did not intersect any fertile intrusive units, which are an important contributor to increased copper values.
Moving forward, MTB is working with the Mineral Deposit Research Unit at the University of British Columbia (MDRU) to characterize the many porphyritic intrusive phases encountered in drilling and on surface with the objective of identifying the more fertile phases of intrusions and develop a better understanding of the geology overall.
MTB contracted Dias Geophysical to conduct a 16 line-km 3D Induced Polarization ("3DIP") ground geophysical survey which links the previously completed 2022 3DIP and the 2012 IP surveys. The three surveys are currently being integrated. Initial interpretations show a significant northwest-southeast trending chargeability anomaly (Figure 2 and 5). This anomaly is interpreted to map out the extent of the Dok Ridge sulphide-bearing hydrothermal system which extends at least 5 km. These systems host or have significant potential to host porphyry copper-gold mineralization. DK2023-01 and DK2023-03 are at the northwest end of the chargeability anomaly. The trace of the chargeability anomaly shown in figure 2 suggests the extent of untested prospective ground. Initial 2024 plans include further soil sampling along the north facing slope of Dok Ridge where several large IP chargeability anomalies occur, in particular those that overly mapped structures. Additional future work would include drilling of selected targets (Figure 5).