Thursday 29th June 2017

Resource Clips



Mountain Boy Minerals increases B.C. Golden Triangle presence with two 100% options

by Greg Klein | June 2, 2017

Mountain Boy Minerals increases B.C. Golden Triangle presence with two 100% options

Home to major deposits as well as earlier-stage exploration, the rugged
terrain of B.C.’s Golden Triangle has Mountain Boy Minerals intrigued.

Encouraging results have prompted Mountain Boy Minerals TSXV:MTB to up its stake in two northwestern British Columbia projects from 50% to 100% options. The company signed the agreement with Great Bear Resources TSXV:GBR, up to then a 50/50 JV partner on both properties, Surprise Creek and BA.

Together, the two nearby projects have undergone over $12 million of exploration spending over the last decade.

As project operator in February, Mountain Boy announced a major base metal-silver-barite zone at Surprise Creek, where one hole on the 7,472-hectare property revealed these intercepts:

  • 0.12 g/t gold, 28 g/t silver, 1.21% zinc, 0.03% lead, 0.31% copper and 46.73% barite over 18.94 metres, starting at 58.26 metres in downhole depth

  • (including 0.11 g/t gold, 44.75 g/t silver, 4.31% zinc, 0.05% lead, 0.33% copper and 67% BaSo4 over 4.58 metres)

  • (which includes 0.09 g/t gold, 70.7 g/t silver, 6.49% zinc, 0.09% lead, 0.56% copper and 60.48% BaSo4 over 2.14 metres)

True widths weren’t provided.

Sample results released in January from the 9,489-hectare BA VMS project showed:

  • 14.3% lead and 1,080 g/t silver
  • 32.4% lead and 417 g/t silver
  • 20.3% zinc, 6.73% lead, 255 g/t silver and 100 ppb gold
  • 33.1% zinc, 1.57% lead and 192 g/t silver
  • 4.41% copper and 142 ppb gold

Subject to approvals, the option lets Mountain Boy take Great Bear’s 50% of both projects by paying $1.3 million and issuing 10 million shares in stages by August 20, 2020. On achieving certain milestones, additional cash payments to Great Bear could total $3.7 million should both properties go into production.

Mountain Boy’s Golden Triangle portfolio includes a 20% stake in the Silver Coin gold-silver-base metals project with a resource estimate, the American Creek and Bear Valley silver-base metals projects, as well as copper-gold claims.

Read more about Mountain Boy Minerals.

See an infographic about B.C.’s Golden Triangle.

Share |

View All: News Stories