STEWART, British Columbia, July 05, 2017 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (“Mountain Boy”) (TSX-V: MTB ) (Frankfurt: M9U ) reports that Phase I drilling is continuing on the Red Cliff property. On the Red Cliff project, the Company and Decade Resources are in joint venture on the Crown Granted portion of the property which is owned 65% by Decade and 35% by Mountain Boy. The Silver Crown 6 claim, in which Decade is earning a 100 % interest, is adjacent to the north portion of the crown grants. To the north of the Silver Crown 6 claim, Mountain Boy owns a 100 % interest in the MB property. The Red Cliff Extension claim owned 100 % by Decade is along the east side of the Silver Crown 6 claim.
Drilling on the Montrose zone has intersected a wide mineralized intrusive within red tuffs forming the Betty Creek formation. The Company has used a just completed petrographic study which is greatly aiding the 2017 exploration. Based on thin sections examination of mineralized rocks from both the Red Cliff zone and Montrose zone, the following information was obtained:
1) Mineralization is associated with intrusions of porphyritic latite to trachyte. 2) Late alteration-mineralization events led to the deposition of quartz, carbonates, pyrite, magnetite, chalcopyrite, galena, specularite, sphalerite and gold. 3) The presence of magnetite and Fe-rich chlorite as well as an undulating, wavy pattern of some the veins indicates a high temperature (hypothermal) environment.
Using this information, the Company has continued drilling holes which still contained the intrusive whether it was mineralized or not. As a result, all holes on the Montrose were continued past areas where previous drilling would have been terminated. All three holes completed on the Montrose zone contain visible gold at depths deeper than expected. The 3 holes have tested a zone up to 150 m in vertical height in an area that had not been tested previously.
The latest hole drilled at minus 50 degrees and at right angles to the zone was off the same set-up as hole 1 and 2. It intersected almost 100 metres of weakly sheared and brecciated intrusive with mineral zonation occurring from 150 to 250m in depth. Along the upper intersection, weak disseminated pyrite is present with local quartz-amethyst-galena-sphalerite-chalcopyrite-pyrite stringers in zones up to 5 m. At 163 m core length, fine visible gold is noted in galena-sphalerite stringers. From the top mineralized zone, short galena-sphalerite sections are noted to 218 m where the hole intersects a 18 m section of quartz-amethyst-galena-sphalerite-chalcopyrite-pyrite stringers. At 227 and 229 m, visible gold is noted within the galena-sphalerite veinlets. At the termination of the galena-sphalerite veinlets, chalcopyrite-pyrite veining is present along the bottom chill margin of the intrusive as well as the baked contact of the red tuff. The chalcopyrite-pyrite veining is present over a 10 m length. True width of the intrusive appears to be at least 70 m in DDH-Mon-17-3. Photos of the gold bearing galena stringers as well as chalcopyrite-pyrite stringers are included below.
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On the Red Cliff zone, located 900 m south of the Montrose drilling, the Company has completed 3 holes. The holes contain a 5-6 m wide mineralized zone with strong chalcopyrite-pyrite within quartz veins and silicified intrusive.
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, will be in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Mountain Boy as he is the president of the Company.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings around the Stewart region in British Columbia’s golden triangle. It owns 20% of the Silver Coin project, a gold-silver-base metals project that has a 43-101 compliant resource calculated. The Company is also exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on their Stewart area claims. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca . For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF MOUNTAIN BOY MINERALS LTD
Ed Kruchkowski” Ed Kruchkowski, President
“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.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”
