Saturday 21st October 2017

Resource Clips



Mountain Boy Minerals hits high-grade gold as drills turn on three B.C. properties

by Greg Klein | September 28, 2017

With initial results in from one of Mountain Boy Minerals’ (TSXV:MTB) three current drill programs at British Columbia’s Golden Triangle, assays show some of the grades that make the region so attractive. So far 33 holes have been completed at the Red Cliff property, 28 on the Montrose zone and five on the Red Cliff zone. The first batch of assays covered five holes from each zone, with Montrose hitting as high as 19.9 g/t gold over 4.12 metres and 9.98 g/t over 3.35 metres. Drilling extended Montrose at depth and along strike, showing the campaign’s best results:

Hole DDH-MON-3

  • 1.53 g/t gold over 3.05 metres, starting at 227.44 metres in downhole depth
Mountain Boy Minerals hits high-grade gold as drills turn on three B.C. properties

  • 1.06 g/t over 0.46 metres, starting at 231.55 metres

  • 9.98 g/t over 3.35 metres, starting at 248.48 metres

DDH-MON-4

  • 2.61 g/t over 2.28 metres, starting at 244.97 metres

  • 19.5 g/t over 0.76 metres, starting at 256.25 metres

  • 5 g/t over 2.13 metres, starting at 264.33 metres

DDH-MON-5

  • 2 g/t over 5.74 metres, starting at 279.73 metres

  • 1.07 g/t over 0.74 metres, starting at 310.52 metres

  • 19.9 g/t over 4.12 metres, starting at 311.28 metres

True widths weren’t provided. Two selected chip samples from Lower Montrose excelled with grades of 390 g/t and 35.7 g/t gold.

Five other holes targeted the Red Cliff zone, about 1.2 kilometres south. Highlights showed:

RC-17-3

  • 6.4 g/t gold and 3.37% copper over 0.61 metres, starting at 53.23 metres

RC-17-4

  • 1.6 g/t gold and 4.89% copper over 0.46 metres, starting at 37.01 metres

Again, true widths weren’t provided. Two other Red Cliff zone holes showed low values, the company stated.

At the project’s Waterpump zone, meanwhile, a grab sample returned 11.6 g/t gold and a chip sample graded 19.2 g/t.

Mountain Boy considers Montrose, Lower Montrose and Waterpump to be a single zone that was displaced by faulting. Expected to continue another six weeks, the Red Cliff program has several holes slated at depth on Montrose and to the west, as well as six to eight others for Waterpump.

Mountain Boy holds a 35% interest in Red Cliff in a joint venture that has recently acquired additional claims.

The Silver Coin project’s current drill program calls for about 2,000 metres to extend and upgrade lenses of high-grade gold mineralization within the Main Breccia zone to the northwest and to test targets along strike to the south and east.

Using a 2 g/t gold cutoff, a 2013 resource for Silver Coin’s four zones totals:

  • indicated: 702,000 tonnes averaging 4.46 g/t gold, 17.89 g/t silver, 0.88% zinc, 0.33% lead and 0.07% copper

  • inferred: 967,000 tonnes averaging 4.39 g/t gold, 18.98 g/t silver, 0.64% zinc, 0.25% lead and 0.04% copper

Mountain Boy holds a 20% interest in Silver Coin, with the remainder held by JV partner Jayden Resources TSXV:JDN.

And the third drill program has just begun, as the Ataman zone on Mountain Boy’s 100%-held Surprise Creek undergoes 500 to 600 metres to test and sample barite, a mineral essential to oil and gas exploration. Last July the company announced production of a barite concentrate exceeding American Petroleum Institute standards.

Earlier this week Mountain Boy closed a private placement of $586,400.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

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

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