VANCOUVER, British Columbia, March 17, 2020 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) announces the application for work on the American Creek West project, including drilling, has been reviewed by the Ministry of Energy, Mines and Petroleum Resources with permit issuance subject only to MTB posting a bond in the amount of $13,500. The Company also announces that B. H. (Ben) Whiting, P.Geo., FSEG, KStG, has joined Mountain Boy as a Director.
Exploration Plans
The American Creek West project is located in the Golden Triangle of British Columbia, 20 kilometres north of the deep-water port of Stewart.
Last year’s exploration included property scale mapping and sampling, re-evaluation of historic mineral occurrences, grid soil geochemistry, and generating a working geological model. Mapping confirmed silver and base metal mineralization along a ~ 2 km intermediate epithermal system, revealed a new area of gold-silver and base metal mineralization, and discovered an Early Jurassic latite porphyry intrusion. This previously unrecognized intrusion is similar in age to the many Jurassic Intrusions that are related to several of the deposits in the Golden Triangle including the Premier Porphyry, which is directly related to the historic Silbak-Premier Mine, 11 kilometres to the southwest. The soil grid was designed to test the contact of Hazelton volcanic rocks and the Early Jurassic intrusion. Three coincident gold-copper anomalies generated by the soil grid warrant follow-up.
The current working deposit model includes two styles and ages of mineralization. The first style of mineralization consists of multi-pulsed epithermal mineralization telescoping off a porphyry hydrothermal system, with the Early Jurassic intrusion identified on the property providing the magmatic heat source for circulating metal bearing fluids. The second style of mineralization is interpreted to be significantly younger and possibly related to felsic volcanic rocks mapped on the property. Previous exploration examined the various mineral occurrences in isolation. This revised geological model will be useful in future exploration as it will tie the various mineral occurrences together and identify potential large-scale targets moving forward.
A two phased exploration program is planned for this upcoming field season. Phase one includes a LiDar survey of the property, detailed structural mapping, and mapping of identified targets. Phase two will be drilling of defined targets, including the historic mined areas and the newly discovered mineralized zones.
Appointment of Director
Mr. Ben Whiting, is a professional geoscientist with more than 40 years of experience in the international mining industry. He has worked for both major & junior companies, managing a wide range of operations from exploration through to mine development. He has acted as a special advisor on mining industry matters to government agencies, the World Bank, and is a past Adjunct Professor of Queen's University in the Geological Sciences & Mining Engineering departments. Ben is an "Economic Geology" medal award winner and the 2008 IAC "Explorer of the Year" for his role in the discovery of the giant La Preciosa Silver-Gold Deposit in Durango, Mexico. In 2015, he was chosen as a “Distinguished Science Alumnus” by his alma mater, the University of British Columbia, where he received B.Sc. and M.Sc. degrees. He is a member of the Engineers & Geoscientists British Columbia (EGBC), Professional Geoscientists Ontario (PGO), La Asociación de Ingenieros de Minas Metalurgistas y Geólogos de México (AIMMGM), the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and a Fellow and past guest editor for the Society of Economic Geologists (SEG). In 2019, Ben was awarded a “Knight – Chevalier” by the international Order of St. George for his past military and volunteer service.
Currently in conjunction with his Director’s position with Mountain Boy Minerals Ltd., Ben Whiting serves as Vice President Exploration for Orex Minerals Inc. and Barsele Minerals Corp. in the Belcarra Group.
Mr. Whiting commented: “I am excited by the exploration potential of the Mountain Boy projects and look forward to working with management and the technical team to advance these projects.”
Lawrence Roulston, CEO, stated: “We are delighted to have Ben join our team. He brings a wealth of exploration experience, including enormous success with deposits very much like those being pursued by Mountain Boy.”
The Board approved the grant of 250,000 options at an exercise price of $0.25 for a period of 5 years to the new director.
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
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.
