VANCOUVER, British Columbia, Sept. 18, 2019 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) reports the acquisition, through staking and purchase, of a 100% interest in the More Creek property, located 40 km northwest of the historic Eskay Creek Mine. The 4,970 ha (49.7 sq km) property is adjacent to the Newmont Lake property which is now being drill-tested.
Highlights:
- The last recorded exploration, in 1990, produced samples that assayed up to 13.58% copper, as well as encouraging values of lead, zinc, gold and silver.
- Receding glaciers has opened up large areas that have never been explored.
- The property has potential for precious metal veins, skarn and VMS-style mineralization.
The Mountain Boy team has compiled the available historic data and conducted an initial on-site review of the project.
In 1990, Blue Gold Resources carried out a small exploration program of prospecting, geological mapping and rock sampling on the current claims. They identified two large gossans separated by a large glacier with pervasive silicification and pyrite alteration. Copper, lead, zinc, silver and gold mineralization was discovered within the alteration zones. Magnetite skarn mineralization with sphalerite and chalcopyrite was also discovered to the east of the large gossan. Rock samples from the 1990 program assayed up to 13.58% copper, 1.06% lead, 12.4% zinc, 2,500 ppb gold and 50.0 ppm silver. Samples were also anomalous in pathfinder elements such as antimony, arsenic, cadmium and bismuth (BC Assessment Report No. 21008).
Since 1990, the glacier separating the two gossans has retreated 1,200 metres and thinned substantially, exposing many new outcrops. The BC Assessment Report index contains no other records of work performed on the claims since 1990.
| Sample Number | Au (ppb) | Ag (ppm) | Cu % | Pb % | Zn % | Sample Number | Au (ppb) | Ag (ppm) | Cu % | Pb % | Zn % |
| 2228 | 2500 | 4.8 | 0.63 | | 0.10 | 55946 | 160 | 5.2 | 0.44 | | 1.26 |
| 31933 | 1340 | 2.4 | | | | 55904 | 150 | 17.3 | 1.18 | | 0.24 |
| 2170 | 1280 | 2.3 | 0.25 | | | 55929 | 130 | 3.8 | | | 12.40 |
| 31940 | 1260 | 21.1 | | | | 55945 | 120 | 4.2 | 0.19 | | 2.94 |
| 31941 | 1260 | 41.4 | | | | 55943 | 100 | 5.9 | 1.37 | | |
| 2111 | 1060 | 10.5 | | | 0.78 | 31948 | 90 | 2.9 | 7.85 | | 4.22 |
| 31944 | 1060 | 20.1 | | | 0.25 | 55909 | 90 | 4.7 | 1.73 | | |
| 55601 | 910 | 11.0 | | 0.49 | 0.16 | 55938 | 70 | 3.5 | 0.13 | | 4.48 |
| 31946 | 900 | 34.0 | 0.73 | 0.21 | 0.55 | 2145 | 60 | 7.9 | 1.20 | | 2.37 |
| 2175 | 870 | 50.0 | 3.75 | | | 55907 | 50 | 32.0 | 13.58 | | 0.34 |
| 31923 | 810 | 0.4 | | | | 55908 | 50 | 6.9 | 2.57 | | 0.13 |
| 31932 | 760 | 5.9 | | | | 55905 | 40 | 15.6 | 4.86 | | 0.27 |
| 55602 | 750 | 28.0 | | | | 55919 | 40 | 11.8 | 2.23 | | |
| 55903 | 740 | 8.7 | | | 0.12 | 55921 | 30 | 5.2 | 9.67 | 0.18 | 9.67 |
| 55941 | 720 | 11.1 | 0.44 | | | 55931 | 20 | 5.2 | 1.18 | 1.06 | 3.40 |
| 55937 | 560 | 20.1 | 1.82 | | 0.23 | 30507 | 10 | 8.1 | 1.22 | | |
| 31937 | 400 | 10.7 | | | | 28205 | -10 | 0.6 | | 0.34 | 2.56 |
Table 1- Significant Assays from 1990 Program
The Mountain Boy team spent 4 days on the property and collected 25 rocks samples. Similar mineralization to that described in the 1990 program was identified. Assay results are pending.
Acquisition Terms: Six tenures, comprising 4,140 hectares, were acquired outright from an arms-length party in return 160,000 shares of Mountain Boy, subject to regulatory approval. A further 4 tenures, comprising 828 ha, were staked by or on behalf of MTB.
Lawrence Roulston, CEO, noted: “The MTB geological team recognized the potential in this property, which had been overlooked for decades. The More Creek acquisition positions us in the heart of the highly prolific Eskay Camp, an area that has seen big increase in exploration activity. More Creek complements our three highly prospective projects in the Stewart Camp, where work is on-going.”
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bfaa67c9-4a85-45f4-b4f2-616e6a453824
More Creek Project Location
More Creek Project Location