Sunday 8th December 2019

Resource Clips


Posts tagged ‘Great Bear Resources Ltd (GBR)’

International Montoro Resources moves into Ontario’s Red Lake camp

October 23rd, 2019

by Greg Klein | October 23, 2019

A new acquisition brings another player into a busy northwestern Ontario mining and exploration region. Under an agreement announced October 23, International Montoro Resources TSXV:IMT can earn a 51% interest in the 2,250-hectare Camping Lake property on the Birch-Uchi-Confederation Lakes greenstone belt, home to the Red Lake gold deposits and Great Bear Resources’ (TSXV:GBR) attention-grabbing Dixie Lake property 20 kilometres north.

International Montoro Resources moves into Ontario’s Red Lake camp

Previous work at Camping Lake includes petrographic studies, rock, soil and lake sediment samples, IP and ground geophysics, as well as drilling. Conducted between 2010 and 2013, the work was carried out by Laurentian Goldfields, Kinross Gold TSX:K and AngloGold Ashanti NYSE:AU. Montoro plans an immediate compilation of exploration data prior to its own program.

Under the JV agreement with Falcon Gold TSXV:FG, Montoro would issue 1.5 million shares over one year and assume Falcon’s payments of $65,000 over four years. Montoro’s exploration commitments would call for $100,000 within one year and another $200,000 over the second year. On earning the initial 51%, Montoro could up its stake to 75% by paying $500,000. A 2% NSR applies.

In Ontario’s Elliot Lake district, Montoro has found nickel-copper-PGE potential in addition to historic uranium and rare earths mineralization on the company’s Serpent River project. Last month Montoro engaged Mira Geoscience to undertake an extensive study of the company’s drilling and geophysics data, along with previous work on or around the property by other companies and regional programs by the Ontario Geological Survey.

In central British Columbia’s Cariboo region, Montoro holds a 2,138-hectare property bordering Defense Metals’ TSXV:DEFN Wicheeda rare earths project.

In southern Quebec’s Saguenay-Lac-Saint-Jean region, Montoro holds the Duhamel titanium-vanadium-chromium prospect. The company’s portfolio also includes two northern Saskatchewan uranium properties held 50/50 with Belmont Resources TSXV:BEA.

Earlier this month Montoro closed a private placement first tranche of $47,500.

Read more about International Montoro Resources.

Read more about Ontario’s Red Lake camp.

The Red Lake resurgence

September 16th, 2019

Miners and explorers seek ever more gold from this busy Ontario district

by Greg Klein

Miners and explorers seek ever more gold from this busy Ontario district

Benefiting from reinterpretation of past work, Great Bear now
has three rigs drilling Dixie Lake. (Photo: Great Bear Resources)

 

A new gold producer on the way, attention-grabbing assays from a well-financed junior and high hopes for the price of gold—could that in any way explain the current excitement at Red Lake? A region that’s produced 30 million ounces since its first rush in 1926 still has more gold to mine and, explorers believe, more mines to find.

Just as Newmont Goldcorp TSX:NGT was considering the sale of its Red Lake operations, Pure Gold Mining TSXV:PGM began building Madsen Red Lake, billed as Canada’s highest-grade gold development project. But, as far as juniors are concerned, the district’s biggest newsmaker has been Great Bear Resources’ (TSXV:GBR) Dixie Lake property.

While focused on British Columbia’s Golden Triangle in 2017, Great Bear optioned Dixie from Newmont, also getting decades of data from over 160 historic holes. Given the succession of companies that drilled and departed, the data might have seemed more encumbrance than encouragement. Undeterred, Great Bear geologists began relogging core to “resolve geological differences between generations of work dating back to the 1980s and provide a coherent framework for the company’s own drilling.”

The prepping paid off. That summer’s Phase I program found success with its first hole and reached up to 16.84 g/t gold over 10.4 metres in hole #5 at the Dixie Limb zone. As the campaign progressed, the company tripled its turf to cover a potential gold-bearing structure of regional significance.

Miners and explorers seek ever more gold from this busy Ontario district

Pure Gold conducts underground test mining at Madsen Red Lake.
(Photo: Pure Gold Mining)

More expansions followed, with assays reaching up to 26.91 g/t over 16.35 metres at the newly discovered and near-surface Hinge zone. Financings came through too, most notably with an $11.1-million infusion that included a total of $5.7 million from McEwen Mining TSX:MUX and Rob McEwen himself, progenitor of Red Lake’s last renaissance. The Canadian Mining Hall of Fame credits him with transforming the Goldcorp mine “from a 50,000-ounce producer in 1997 to a 500,000-ounce producer in 2001, while cash costs fell from $360 per ounce to $60 per ounce over this period.”

The stock soared past $2 from about $0.58 pre-McEwen. The grades, discoveries and financings continued, even with what president/CEO Chris Taylor called “the cheapest discovery hole we’ve ever had.” That happened after a keen-eyed geo spotted high-grade visible gold on unassayed core that had been neglected for 12 years. Clearly, the company was on to something when its management decided past operators had overlooked Dixie’s promise.

Great Bear now has three rigs at work.

But this is no spectator sport, as the inevitable influx demonstrated. For Pistol Bay Mining TSXV:PST, however, the attraction is base metals more than the yellow stuff. The company’s Garnet deposit features a 2017 inferred resource showing 2.1 million tonnes averaging 5.78% zinc, 0.72% copper, 19.5 g/t silver and 0.6 g/t gold, using a 3% zinc-equivalent cutoff. 

Miners and explorers seek ever more gold from this busy Ontario district

Visible gold attests to Great Bear’s confidence in Dixie Lake.
(Photo: Great Bear Resources)

An historic, non-43-101 resource for Pistol Bay’s Fredart zone estimated 385,000 tonnes averaging 1.56% copper and 33.6 g/t silver. Historic drilling on the company’s Joy-Caravelle area shows non-43-101 results including 21.6% zinc and 0.13% copper over 0.25 metres.

Up to recently, Pistol Bay’s portfolio had been about 25 kilometres northeast of Dixie Lake. But the company moved closer in July, with an option on 2,130 hectares southeast of Great Bear. Part of the former Goldpines claims, the property’s past work consisted mainly of geochemical sampling.

An NSR held by Perry English on Fredart hints at the prospector’s impact on the district. English sold the Dixie and Packwash properties to Great Bear and, under an LOI signed earlier this month, will vend Red Lake’s Camping Lake and Bruce Lake projects to Prime Meridian Resources TSXV:PMR.

Spurred on by recent grab samples as high as 19 g/t, 23.3 g/t and 126.5 g/t gold, Pacton Gold TSXV:PAC plans 10,000 metres of drilling to begin next month at its Red Lake project. Historic work included sampling, trenching and drilling.

A more advanced project towards the district’s eastern reaches, First Mining Gold’s (TSX:FF) Springpole reached PEA in 2017 with an indicated 4.67 million gold ounces and 24.19 million silver ounces, along with an inferred 230,000 gold ounces and 1.12 million silver ounces.

Proximal to both Newmont Goldcorp and Pure Gold, Nexus Gold’s (TSXV:NXS) McKenzie project underwent a spring field program that scored a sample result of 135.4 g/t gold. In August the company signed an LOI with privately held Hawkmoon Resources that could have the latter company acquire or JV on Nexus’ Canadian projects.

With a Phase I drill program of at least 2,500 metres well underway, BTU Metals TSXV:BTU hopes to find evidence that Great Bear’s high-grade LP fault structure crosses BTU’s Dixie Halo property.

Under an LOI signed last week, Maxtech Ventures CSE:MVT would acquire the Panama Lake project from Benton Resources TSXV:BEX. The latter company assembled the property by staking, last year adding the former Goldcorp Ben Lake project. This year’s drilling produced assays up to 1.23 g/t gold over 6.5 metres.

Some other companies in the district include Confederation Minerals TSXV:CFM, which last May added the Leo property to its Red Lake portfolio with the company’s 70%-held Newman Todd property.

This month GoldON Resources TSXV:GLD completed prospecting and soil sampling on its West Madsen project optioned from Great Bear last May. GoldON sees rare earths as well as gold potential in the property.

Meanwhile Madsen begins construction, with commercial production expected by the end of 2020. The project came together quickly after Pure Gold, then called Laurentian Goldfields, assembled claims including the former Madsen mine in late 2013 and early 2014. Within five years Pure Gold built a resource of 2.06 million ounces indicated and 467,000 ounces inferred. That includes a probable reserve of 3.51 million tonnes averaging 8.97% for 1.01 million ounces that’s expected to keep the mine busy for 12 years.

Deep-pocketed support comes from AngloGold Ashanti NYSE:AU, Eric Sprott, Rob McEwen and Newmont Goldcorp, who collectively hold over 30% of Pure Gold.

Although the district’s success stories encourage enthusiasm, Red Lake also spawned a cautionary tale. Rubicon Minerals TSX:RMX notoriously skipped feasibility to take its Phoenix project directly from PEA to production in 2015. Six months later the mine shut down. The explanation: Unexpectedly complex geology. The resource shrank dramatically, from 1.13 million gold ounces measured and indicated in 2013 to just 106,000 ounces in 2016. Inferred fell from 2.22 million ounces to 307,000 ounces.

Later that year the company sought creditor protection.

But last month Rubicon bravely unveiled a new PEA with “a lower margin of error and risk.” Still a far cry from the 2013 estimate, however, are the current numbers of 589,000 ounces measured and indicated, along with 540,000 ounces inferred. Chastened, the company plans to begin feasibility studies in Q1 2020.

Belmont Resources moves into Ontario’s Red Lake camp with zinc-polymetallic acquisition

September 4th, 2019

by Greg Klein | September 4, 2019

A newly signed option opens a substantial land package with historic deposits for further exploration. Under the agreement, Belmont Resources TSXV:BEA takes a substantial interest in part of Pistol Bay Mining’s (TSXV:PST) Confederation Lake greenstone belt portfolio.

The Fredart/Gerry Lake and adjoining claim groups sit about 25 kilometres northeast of Great Bear Resources’ (TSXV:GBR) Dixie property and adjacent to Pistol Bay’s Garnet Lake claims in an increasingly busy camp where Great Bear’s drill results have attracted other explorers.

Belmont Resources moves into Ontario’s Red Lake camp with zinc-polymetallic acquisition

The Arrow zone on Pistol Bay’s Garnet Lake hosts a 2017 43-101 inferred resource using a 3% zinc-equivalent cutoff to show 2.1 million tonnes averaging 5.78% zinc, 0.72% copper, 19.5 g/t silver and 0.6 g/t gold. “The geological setting of the Fredart and associated claims is similar to the Garnet Lake claims area,” Belmont and Pistol Bay stated.

Belmont’s acquisition comprises about 6,700 hectares over a 17-kilometre stretch of the greenstone belt. A 2017 VTEM-Plus survey found granitic intrusions in the northeast part of the Fredart area and two or possibly three parallel conductive responses over parts of the Fredart-Gerry Lake trend.

Extensive past work includes 124 drill holes totaling 22,500 metres between 1956 and 2003 on the Fredart zone. Data has yet to be compiled for additional drilling on the Fredart trend’s western extension and the Joy-Caravelle area.

The Fredart zone, also known as Copperlode A, has an historic, non-43-101 estimate showing 385,000 tonnes averaging 1.56% copper and 33.6 g/t silver. The companies describe the property’s mineralization as volcanogenic massive sulphide dominated by zinc, copper and silver, with occasional associated gold values.

The acquisition’s Joy-Caravelle area has historic, non-43-101 drill results that include 21.6% zinc and 0.13% copper over 0.25 metres, 17.17% zinc and 0.28% copper over 0.6 metres, as well as 4.01% copper over 3.55 metres.

Infrastructure includes all-weather roads, a transmission line crossing the property, water and nearby natural gas.

Belmont may earn an initial 65% of the claims for $40,000 and 1.5 million shares on TSXV approval, another $50,000 and 1.5 million shares within one year and an additional $50,000 and one million shares in the second year.

An additional 10% interest would cost $200,000, after which the two companies would form a JV. Two third parties each hold a 2% NSR on separate parts of the claims, with one NSR also including a $10,000 annual advance royalty payment.

Looking at another recent acquisition in another busy mining camp, last month Belmont announced an upcoming field program for its Pathfinder project in southern British Columbia’s Greenwood district. Surface sampling results released in July showed assays up to 29.2 g/t gold, 16.4 g/t silver, 365 ppm copper and 4 ppm lead.

Belmont’s portfolio also includes a 75% stake in Nevada’s Kibby Basin lithium project, where drilling has found 393 ppm lithium over 42.4 metres and 415 ppm over 30.5 metres.

Additionally, Belmont shares 50/50 ownership with International Montoro Resources TSXV:IMT on two northern Saskatchewan uranium properties.

Belmont closed a private placement of $252,000 in June and arranged two loans totalling $50,000 in August.

Drilling, sampling, optioning: Mountain Boy Minerals updates B.C. activities

September 13th, 2017

by Greg Klein | September 13, 2017

Demonstrating that a diverse portfolio doesn’t necessarily mean idle properties, Mountain Boy Minerals TSXV:MTB updated several projects in northwestern British Columbia’s Golden Triangle.

Drilling has just resumed at Silver Coin, held 20% by Mountain Boy and 80% by joint venture partner Jayden Resources TSXV:JDN. Acting as operator is Sprott Mining Inc on a campaign of about 6,000 metres mostly focusing on stepouts. The agenda also calls for regional exploration on the 1,470-hectare property.

Silver Coin hosts a 2013 43-101 resource that uses a 2 g/t gold cutoff to show an 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.

Drilling, sampling, optioning: Mountain Boy Minerals updates B.C. activities

Mountain Boy awaits assays from Red Cliff,
where core from five holes has revealed visible gold.

Drilling continues at the Red Cliff property, where 25 holes have been completed so far with assays pending. In July Mountain Boy reported visible gold in the program’s first five holes. Red Cliff also has sampling underway at the Lower Montrose and Waterpump zones. The latter has drilling planned, once sampling assays arrive.

Mountain Boy has a 35% interest in Red Cliff, with JV partner Decade Resources TSXV:DEC holding the rest. The ownership gets more complicated, however, now that the two companies have teamed up on additional claims to the southeast. The acquisition gives the JV an earn-in total of up to 80% of the extension, with 28% to be held by Mountain Boy and 52% by Decade. The size of neither the original Red Cliff property nor the additional claims was reported. Mountain Boy and Decade share overlapping management and directors.

TSXV approval came through earlier this month for Mountain Boy’s 100% options on the Surprise Creek and BA properties, both formerly 50/50 JVs with Great Bear Resources TSXV:GBR. Over $12 million of exploration has gone into the nearby projects over the last 10 years, revealing zones of high-grade zinc, lead and silver, as well as zinc, copper and silver.

Prior to a drill program expected later this month, the 7,472-hectare Surprise Creek has sampling underway on a large barite zone and on areas of VMS mineralization revealed by historic sampling. In July the company announced successful production of a barite concentrate that surpassed American Petroleum Institute standards. The mineral is considered essential to oil and gas exploration.

Additional sampling has taken place on the 9,489-hectare BA VMS project, just north of a 2016 channel sample result that returned 3.84% zinc, 1.25% lead and 108 g/t silver over 15 metres. That included a sub-interval of 5.31% zinc, 1.97% lead and 132 g/t silver over 7.5 metres.

Mountain Boy also optioned 60% of West George, a 288-hectare copper property adjacent to the company’s George copper project that the company now holds 100%. The original George has non-43-101 copper-silver-gold estimates. West George has sampling underway.

Meanwhile assays are pending for recent sampling from MB Silver, a project with historic, non-43-101 polymetallic estimates. In southern B.C., Mountain Boy plans to begin PEA studies on its 100%-held Manuel Creek zeolite project.

The company expects to soon close a private placement of up to $1 million.

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

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

Mountain Boy Minerals drills more visible gold at B.C.’s Golden Triangle

June 21st, 2017

by Greg Klein | June 21, 2017

With two rigs busy, Mountain Boy Minerals TSXV:MTB intersected visible gold above historic underground workings on northwestern British Columbia’s Red Cliff property. Assays are still pending, but one of the holes that intersected a sheared, mineralized intrusive on the Montrose zone showed the welcome sight of yellow within numerous galena stringers. The company added that mineralization within the two most recent holes resembles a previously reported hole from the same zone that graded 14.53 g/t gold and 0.27% copper over 30.64 metres.

Mountain Boy Minerals drills more visible gold at B.C.’s Golden Triangle

The sight of gold attracts Mountain Boy Minerals
more than Red Cliff’s rugged scenery.

Work continues to test an approximately 200-metre vertical distance between the previous holes and the past-producer’s workings.

About 900 metres south of Montrose, meanwhile, the other rig targets the Red Cliff zone, where quartz with chalcopyrite, pyrite and sphalerite has been found in zones up to five metres in width.

The program also intends to confirm previous results from the property’s Waterpump zone, a goal that will require a drone and possibly climbers to find a 1988 mountainside drill collar.

Mountain Boy has a 35% stake in the project, with JV partner Decade Resources TSXV:DEC holding the remainder.

In deals re-negotiated with Great Bear Resources TSXV:GBR earlier this month, Mountain Boy increased its options on two other Golden Triangle properties, Surprise Creek and BA, from 50% to 100%. Other northwestern B.C. interests include a 100% stake in the MB project, with historic, non-43-101 polymetallic estimates; a 50% stake in the George property, with non-43-101 copper-silver-gold estimates; a 20% stake in Silver Coin, with a gold-silver-base metals resource; the American Creek and Bear Valley silver-base metals projects; as well as copper-gold claims. In southern B.C., Mountain Boy prepares to begin PEA studies on its Manuel Creek zeolite project.

Read more about Mountain Boy Minerals.

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

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

June 2nd, 2017

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.

Mountain Boy advances B.C. polymetallic, industrial minerals projects

March 30th, 2017

by Greg Klein | March 30, 2017

Among other plans announced March 30, Mountain Boy Minerals TSXV:MTB intends to conduct metallurgical studies for its Surprise Creek joint venture in northwestern British Columbia. Tests will evaluate one interval of drill core reported in February that shows barite, silver, copper and zinc. Barite is mainly used as an ingredient in drilling mud for oil and gas exploration.

Metallurgical results will guide further Surprise Creek exploration, expected to include surface sampling and drilling. Mountain Boy acts as operator on the 7,472-hectare property in a 50/50 JV with Great Bear Resources TSXV:GBR.

Mountain Boy advances B.C. polymetallic, industrial minerals projects

Rugged terrain and high grades
characterize the former Montrose mine.

In southern B.C., Mountain Boy has begun discussions with the Lower Similkameen Indian Band prior to PEA studies on the Manuel Creek zeolite project acquired last December. With numerous agricultural uses for the commodity, this 1,062-hectare project holds the advantage of location in the Okanagan farming region.

Back in the province’s northwest, two companies have surface sampling and drilling planned this year for Red Cliff, held 35% by Mountain Boy and 65% by Decade Resources TSXV:DEC. Amid mountainous terrain, plans call for a drone and climbers to locate a 1988 drill collar to sample the zone and confirm previous results from the former gold-copper mine.

Underground drilling will test above and below the property’s 1,000 mine level, which has previously revealed several high-grade intercepts. Some examples include:

  • 37.26 g/t gold and 6.07% copper over 0.91 metres

  • 21.94 g/t gold and 0.76% copper over 4.42 metres

  • 29.93 g/t gold and 1.57% copper over 1.9 metres.

Additional drilling will help define the property’s Montrose zone. Even higher values have been found here:

  • 5.18 g/t gold and 0.43% copper over 12.65 metres

  • 43.91 g/t gold and 1.46 % copper over 7.47 metres

  • 14.53 g/t gold and 0.27% copper over 30.64 metres

Metallurgical studies will also take place.

From 1939 to 1941, mining at Montrose extracted 65 tons averaging 2.45 ounces per ton gold, 2.95 ounces per ton silver, 0.91% copper, 3.5% lead and 4.41% zinc.

Mountain Boy and Great Bear also share the nearby BA VMS project, from where they reported high-grade polymetallic samples in January.

Along with 80% partner Jayden Resources TSXV:JDN, Mountain Boy holds a 20% interest in another property in B.C.’s Golden Triangle, Silver Coin. Using a 0.3 g/t gold cutoff, the project’s 2011 resource shows a measured and indicated total of 842,416 ounces gold, 4.46 million ounces silver and 91.17 million pounds zinc. The inferred category comes to 813,273 ounces gold, 6.69 million ounces silver and 128 million pounds zinc.

Mountain Boy’s regional portfolio also includes the MB project, with historic, non-43-101 estimates for copper, lead, zinc, silver and barite. Grab samples from last year assayed as high as 31,192 g/t silver. The company additionally holds a 50% stake in the George property, which has historic, non-43-101 estimates for copper, silver and gold.

In mid-March the company closed a private placement totalling $231,619.

Mountain Boy Minerals reports barite-polymetallic results from NW B.C.

February 2nd, 2017

by Greg Klein | February 2, 2017

An explorer with extensive assets in northwestern British Columbia’s Golden Triangle, Mountain Boy Minerals TSXV:MTB announced a “major base metal-silver-barite zone” at the Surprise Creek property. The company acts as project operator on the 50/50 JV with Great Bear Resources TSXV:GBR.

Of two holes sunk late last year, one missed a polymetallic VMS-related occurrence called the Ataman zone. But DDH-SC-2 returned the following intercepts, announced February 2:

  • 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)
Mountain Boy Minerals reports barite-polymetallic results from NW B.C.

A helicopter lands at the BA project,
part of the same JV with Surprise Creek.

True widths weren’t available. The hole appeared to end in mineralization but drilling stopped due to weather.

Further work this year “will target this extensive barite horizon,” Mountain Boy stated. The Ataman zone has been traced across approximately 1.2 kilometres of strike. The 7,472-hectare Surprise Creek property sits immediately north of a highway.

Barite is used as a drilling mud in the oil and gas industry. Imports to Canada and the U.S. come to about 400,000 tonnes of industrial-grade barite and 3.6 million tonnes of oilfield barite, the company stated.

The JV also covers the nearby BA VMS project. Some highlights from samples reported last month from a three-by-two-kilometre area of the Big Red target 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

Big Red has additional exploration planned this year, but the BA property’s eponymous BA zone remains the project’s primary focus. In December Mountain Boy released channel sample results from the zone, with some highlights showing:

  • 3.84% zinc, 1.25% lead and 107.65 g/t silver over 15 metres
  • (including 5.31% zinc, 1.97% lead and 132.44 g/t silver over 7.5 metres)

  • 2.42% zinc, 0.55% lead and 99.41 g/t silver over 12 metres
  • (including 3.2% zinc, 0.72% lead and 119.68 g/t silver over 6 metres)
  • (which includes 5.12% zinc, 0.83% lead and 102.85 g/t silver over 3 metres)
Mountain Boy Minerals reports barite-polymetallic results from NW B.C.

An aerial view of the MB project.

Another Mountain Boy asset in B.C.’s Golden Triangle is the MB project. Grab samples taken last year from the property’s High Grade zone assayed as high as 31,192 g/t silver, with averages of 4,795.16 g/t silver, 3.35% zinc, 0.837% lead and 1.38% copper.

Sampling from MB’s Mann zone averaged 750.48 g/t silver, 9.02% zinc, 2.61% lead and 0.303% copper.

MB has an historic, non-43-101 indicated estimate for three veins totalling 105,555 tonnes averaging 0.064% copper, 0.69% lead, 2.01% zinc, 208.9 g/t silver and 13.59% barite.

The company’s portfolio includes a 20% interest in the Silver Coin project, in which Jayden Resources TSXV:JDN holds the remainder. A 2011 resource gave the project a measured and indicated total of 842,416 ounces gold, 4.46 million ounces silver and 91.17 million pounds zinc. The inferred category came to 813,273 ounces gold, 6.69 million ounces silver and 128 million pounds zinc. Further drilling is planned this year.

Mountain Boy also holds a 35% interest in Decade Resources’ (TSXV:DEC) Red Cliff project, which has modelling and additional drilling slated for 2017.

Just west of the BA project, Mountain Boy’s 50%-held George property has historic, non-43-101 estimates for copper, silver and gold.

In December Mountain Boy announced the purchase of the 1,062-hectare Manuel Creek zeolite and pozzolan property in southern B.C.’s Okanagan region, where work on a resource estimate should start in early spring. The company noted that zeolite is used in applications such as soil amendments and hydroponics, water filtration, livestock feed enhancement and waste management.

The company offered a private placement of up to $1.2 million in December.