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Update from BC Golden Triangle Explorer. “Monster Deposits” Await

Dave Jackson Dave Jackson, Stockhouse
1 Comment| May 5, 2021

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(Click image to play video)

Rugged, breathtakingly beautiful, and largely underexplored for its immense mineral potential, British Columbia’s prolific Golden Triangle is, in many ways, an investor’s, and geologist’s, dream come true.

Now, Vancouver BC-based Mountain Boy Minerals Ltd. (TSX-V: MTB, Forum) is exploring this unique region in northwestern BC for large-scale silver-gold deposits in the heart of the Golden Triangle. The company is advancing multiple targets on its extensive holdings in this metals-rich corner of B.C. Building on years of work by previous operators, Mountain Boy’s projects are already far along the path toward discovery.

The spectacular silver grades that came out of the historic Mountain Boy mine acted as a beacon to lead them to take a close look at the area around it. In other settings, seeing high-grade silver values demonstrating over many kilometers might be seen as isolated occurrences. In this region, which is renowned for large deposits, it pointed to a different interpretation.

The geological team, led by VP of Exploration Lucia Theny, provide the ground truth to the geological concept, expanded on that concept, and have recently filled in the details leading to its recent drill program. Ms. Theny joined Stockhouse Media’s Dave Jackson to talk about it in this upbeat and educational video podcast.


SH: To start off with, Lucia, can you tell us a little bit about yourself and the history of the company?

LT: Yeah, absolutely. So I've had the opportunity to work throughout a lot of BC, focused mostly in the Golden Triangle. I've also worked in Mexico and Argentina. I have a master's degree in structural and economic geology and that's my background. I really am a boots-on-the-ground kind of geologist. And it's funny because it's such a small industry. So in 2010 I was working for Great Bear Resources and they entered into an option agreement with Mountain Boy Minerals. So in 2010, I worked on the drill program on the BA project for Great Bear. And now we fast forward 10 years ahead, and I'm working on the BA project again this time with Mountain Boy Minerals. So Mountain Boy Minerals is a company that's been in the Golden Triangle for decades and they've always focused their concentration in the Stewart Camp. And they, since 2018, we've really had the strategy to identify and acquire advanced overlooked opportunities in places that have had piecemeal work. And our American Creek project is really a great example of that.

SH: Can you update our investor audience and your M-T-B shareholders on all the new company developments, especially in the wake of COVID-19?

LT: Yeah, COVID.Well in the last two years, Mountain Boy has acquired two new properties. So two years ago we acquired the Southmore project, which is a copper gold property just north of Stewart. And then last year we acquired the Thea project which is a really interesting project because it actually has a number of targets on it including some high-grade silver and base metal targets. And you know, last year with all of our field work and drilling and geophysical and mapping, we were able to implement enough health and safety protocols that really kept our teams safe. And it kept the town of Stewart safe. You know, Stewart is a really small remote little town and of course we'll have to maintain our vigilance and, you know, keep all those protocols up, but things have really been moving in the right direction. You know, a lot of our crew has been vaccinated. The word on the street is that the clinic in Stuart is going to offer rapid testing this summer. So luckily, we haven't really missed a beat.

SH: On February 23rd, you announced assay results from your American Creek project. This may be news to many investors. Can you unpack some of the highlights and what do these results mean going forward?

LT: Yeah, that's a great question. So our American Creek project lies directly east of Ascot’s Premier project. And over the last few weeks, Ascot has secured over $80 million in funding to move that project forward. They're really working towards moving that Premier mine back into operation. So we at Mountain Boy see a lot of similarities between Ascot’s Premier project and our American Creek project. You know, of course we're at a much earlier phase in terms of development, but that really offers a lot of discovery opportunity for our shareholders. So, you know, the drilling last year showed that the shallow structures that we intersected are certainly rich in base metals and likely represent one of several mineralizing events on in the epithermal system. So in 1999 and 2000 Mountain Boy removed about 50 tons of material from the high-grade vein area. And that material ran approximately 19-kilogram silver, and really at the end of the day, that's what makes this still a very compelling target. And so now with the data that we've generated last year,this season, we're going to test different steeper structures, and we're still going to be looking for that higher grade material.

SH: The Company is fully funded for a Summer 2021 at the American Creek exploration program and looks set for strong future growth. How are you placed to expand these operations?

LT: Yeah, so our operations have expanded in essence, by diversifying our portfolio. You know, we've added a few copper, gold projects to the North of Stewart and that has really changed our game. We also have a very talented crew that are excited to come back, and that consistency and continuity really helps us. A lot of our contracts are in place. And you know, we're also one of our big things that I'm really excited about this summer is we're looking to do some research with the mineral deposit research unit out of UBC. So we're going to have them look at vectoring for mineralization on some of our BMS targets.

SH: You just confirmed high-grade silver samples identified along a 500-meter trend at your Theia property. Can you expand on this initiative as well as the Southmore and B-A projects?

LT: Yeah, absolutely. 39-kilogram silver and several percent base metals. Like Theathose were some very great grab samples and MJ, one of our prospectors, Geo-technicians found those and two years in a row, he's come back with the best silver samples. So we're pretty excited about that. To be clear that Thea is at a really early-stage prospect, but both South Moore and Thea are in areas where we saw an opportunity to acquire and advance the ground. So they both had piecemeal historic work and, on both projects, we were able to go in over the last years and the last year and confirm the historic assays and help with our geological understanding. So on Theawe will be following up on that high-grade samples and the 500-meter trend and working on that and working on developing an understanding and seeing how much continuity there is to that mineralization because that's really what would make the project. And for Southmore over the last two years, we've had some pretty good success with geochemical anomalies.

So this year we're going to be flying a property wide geophysical survey, and then we'll ground truth. And for BA we're planning a tentative drill program. So over a few years, we've had several successful channel sample programs on BA, and we've been able to extend the known mineralization over another a hundred meters to the North. So we're really interested on testing that extension of the mineralized horizon. So really what the company right now is excelling at is identifying areas that can be put together and putting the ground together and then advancing them to a drill ready state. And I think that's really what offers the shareholders the value.

SH: I have to mention your stock has been on a bit of a roller coaster ride the past year What can you tell our investor audience regarding the current valuation of your stock and why you think it’s still a good buy right now?

LT: Yeah, so like rollercoasters, exploration is a roller coaster in essence, right? And we try our best to mitigate that risk. And luckily, we learn from every exploration program and every season on a project helps revise our ideas and our understanding. So the opportunity right now is that we're at the beginning of our field season. You knowwe've got all our initiatives and objectives lined out. And the stock is at a 52-week low. So we have a much better focus on a lot of our projects and we're ready to get started.
A lot of our projects are at an early stage, right? So this year will help us determine what kind of future work that these projects will warrant. So Southmore is a very good example. We've had two years of field work where we've generated good geochemical anomalies. This summer, we're going to follow up with property wide geophysical survey. So in my mind, when you have coincidence geochemical and geophysical anomalies, you go and you check them out. And if you like what you see, well then really potentially we could be planning a third drill program.

SH: Can you tell our audience a little bit about your corporate management and board teams, along with the extensive experience and innovative ideas they bring to the gold and silver exploration space?

LT: Yeah, absolutely. It's a great team. And it's led by Lawrence Roulston and Lawrence has over 40 years in the industry. And his career has really allowed him to see mining projects across the world. And in that time, he's really developed an eye for projects that he sees a potential to generate large scale projects. And that's really what attracted him to Mountain Boy. One of our directors, Ben Whiting, Ben has over 40 years in industry and he's a technical person, he's a geologist and he's had a lot of success on epithermal deposits in Mexico. And he also has a lot of experience in the Golden Triangle. Mark Brown brings more of a financial background and he's had a lot of success including building a $500 million value for one of his companies. Two of our other directors bring really strong business backgrounds and experience with government. So we have a very diverse team and it's pretty well-rounded. And of course we want to make a discovery that will add value for the shareholders.

SH: On an interesting personal note, you were in late pregnancy during the 2019 field season. What was that experience like?

LT: This is one of the greatest things about this company. So I was in a conversation with Lawrence, actually it was the conversation where he was asking me if I wanted to take on this position and I dropped a complete bomb on him. I looked him straight in the eyes and I said, Lawrence, I would love this opportunity, but I have to tell you I am pregnant, and he didn't miss a beat. And he looked at me and he said, you know, Lucia, if you could make it work, we want you and I have had so much support from the company that I'm, and I'm really grateful that I was able to work so late into pregnancy. So I was out in the field and my belly just kept getting bigger and bigger and bigger. Like I was nine months pregnant almost when, by the time I hung up my rock hammer right?And what I can say is it wasn't easy, but it was worth it. And I really want to set the example for women because it's an industry where a lot of women come and they have to make that hard decision. So I'm really grateful that I can lead by example.

SH: And finally, Lucia, if there’s anything I’ve overlooked please feel free to elaborate.

LT: My closing points are that we'll be putting out news releases over the next little while, kind of outlining our detailed plans for exploration this summer. And I'm really excited about this upcoming field season. And I hope everybody stays tuned.

To find out more about the company, visit:

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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