STEWART, British Columbia, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (MTB.V) (M9U.F) (“Mountain Boy”) is pleased to report the final gold assay results for the 2017 drill program on Waterpump Zone at the Red Cliff property. The Red Cliff property is located in the “Golden Triangle” area of British Columbia, 2.5 km from a paved highway and the power grid.
Exploration during the 2017 field season indicates that the Red Cliff property hosts a large mineralized system that has been traced over 2 kilometres. Exploration in 2017 has consisted of drilling, mapping, sampling and assaying additional core from the 2007-2012 programs. In the 2017 drill program, 5 holes were completed on the Red Cliff zone, 35 on the Montrose zone and 11 holes on the Waterpump zone. Results for the drilling on Red Cliff and Montrose zones were released on September 27, 2017, October 26, 2017 and January 9, 2018 (see SEDAR for details).
Highlights of the latest gold assays on the Waterpump Zone include:
- Intersection of 13.88 g/t gold over 7.5 m in DDH-17-M0N-37.
- Intersection of 10.41 g/t gold over 22.87 m in DDH-17-M0N-40.
- Intersection of 7.21 g/t gold over 7.16 m in DDH-17-M0N-41.
Drill hole collar locations and elevations for all drilling has been completed by a surveyor. A data base with GPS locations for all holes as well as the elevations is presently being established. This data in conjunction with all the drill hole assays will be used to create a new model that shows gold grade shells. In addition all additional assays from previous holes will be entered into the data base. The Company will also use the existing 2007-2012 and 2016-2017 data to prepare a preliminary resource calculation for the Montrose zone, including the Waterpump zone.
Drill results are summarized below for holes on the Waterpump zone as follows:
| DDH No. | From(m) | To(m) | Width(m) | Gold g/t |
| DDH-MON-36 | 57.59 | 59.63 | 2.04 | 19.70 |
| DDH-MON-37 | 69.21 | 71.19 | 1.98 | 2.40 |
| and | 73.38 | 80.85 | 7.50 | 13.88 |
| DDH-MON-38 | 32.62 | 35.67 | 3.05 | 2.64 |
| and | 63.11 | 63.93 | 0.82 | 3.41 |
| and | 67.68 | 87.32 | 14.63 | 1.97 |
| and | 84.45 | 89.18 | 4.72 | 4.18 |
| DDH-MON-40 | 88.41 | 116.46 | 22.87 | 10.41 |
| DDH-MON-41 | 67.16 | 68.29 | 1.13 | 3.42 |
| and | 84.45 | 93.60 | 7.16 | 7.21 |
| and | 97.56 | 98.78 | 1.22 | 3.0 |
| DDH-MON-42 | 62.50 | 64.79 | 2.29 | 2.97 |
| DDH-MON-43 | 72.65 | 73.11 | 0.46 | 8.10 |
| DDH-MON-44 | 83.08 | 84.45 | 1.37 | 10.96 |
| and | 105.79 | 107.07 | 1.28 | 2.23 |
| DDH-MON-45 | 108.23 | 108.64 | 0.46 | 6.06 |
| and | 121.04 | 130.18 | 9.1 | 2.50 |
| DDH-MON-46 | 101.37 | 102.99 | 1.62 | 9.49 |
| and | 139.33 | 142.38 | 3.05 | 11.60 |
These holes were drilled at angles of -45 to -70 degrees. Truth widths are not yet determined.
Drilling was off several panels located 25 m and 50 m south of the surface expression of the zone located along the Lydden Creek canyon. Drilling tested above the surface expression of the zones which is located 150 m vertically below the drill pads. Numerous post mineral diabase dykes were intersected within the zone.
The Red Cliff project is held in a joint venture with Decade Resources Ltd. (65% - Mountain Boy 35%) and the claims are located in the Skeena Mining Division of British Columbia.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release.
About Mountain Boy Minerals Ltd.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with a diverse property portfolio within the Stewart region located in the very prolific area of British Columbia’s Golden Triangle. It owns 20% of the Silver Coin project, a gold-silver-base metals project that has a NI43-101 compliant resource estimate. Mountain Boy is also exploring silver-base metals on its American Creek and Bear Valley properties, as well as copper-gold on its 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 604-687-3520.
ON BEHALF OF THE BOARD OF MOUNTAIN BOY MINERALS LTD.
Mark T. Brown, Chief Executive Officer
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 contains forward–looking statements related to the anticipated closing of the royalty purchase. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including risks related to receipt of required regulatory approval and general transaction closing risk. Actual results may differ materially from those currently anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities laws.