VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (MTB.V) (M9U.F) (“Mountain Boy”) is pleased to report on two shallow drill holes completed on the Ataman zone within the 100% owned Surprise Creek VMS/barite claim block in the Golden Triangle area of British Columbia.
The Surprise Creek property covers an area of approximately 12 km of known VMS (“Volcanogenic Massive Sulphide”) style mineralization generally hosting copper, zinc and lead, with some gold and silver. Folding within the Surprise Creek claims has resulted in repeated sections of prospective VMS horizons. Anticlinal structures have resulted in the prospective VMS horizon being present along both the west and the east sides of the Surprise Creek claims. There are at least six separate VMS boulder trains or showings on the Surprise Creek property. The Company website at www.mountainboyminerals.ca shows the location of the VMS style of mineralization.
Abundant barite is common on the Surprise Creek property. It is a common constituent of Kuroko style VMS systems forming layers above the base metal-silver mineralization. To date only 4 short drill holes have tested the barite rich portion of the Ataman zone at the headwaters of Surprise Creek.
The objective of the 2017 drill program at the Ataman zone - Surprise Creek VMS target was to define the location and direction of the stratiform barite cap within the system. This will help the Company in conjunction with the interpretation of the VTEM survey to define drill targets for the 2018 program. The key targets are high grade mineralized sulfide lenses or zones within the system which are mostly distal but directly related to the barite occurrence. In the accepted model for sedex hosted deposits, the barite would be the first mineral to come out of the vents followed by a sphalerite rich zinc and silver zone. Hematite, calcite, bornite and chalcopyrite mineralization are precipitated last.
It is noteworthy that zinc, lead, copper and silver, as well as low amounts of gold are present in the barite cap in the form of small zones and veinlets which could be the result of a subsequent hydrothermal event bringing the sulfide minerals to surface. Surface sampling has shown that the barite cap or horizon extends for at least 650 m of height and at least 150 m of length. To date, the source of large angular zinc boulders up to 1 m in diameter, assaying over 7% zinc, has not been located. These boulders are located in the immediate vicinity of the barite zone.
Detailed results of the 2017 drilling are shown below:
Surprise Creek Drill Intersections
| Drill Hole | From (m) | To (m) | Width (m) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | BaSO4 (%) |
| SC-3 | 33.0 | 37.5 | 4.5 | 23.1 | 0.10 | 0.71 | 3.27 | - |
| and | 48.95 | 75 | 26.05 | 22.34 | 0.36 | 0.03 | 1.03 | 41.0 |
| SC-4 | 39.0 | 45.0 | 6.0 | 39.71 | 0.07 | 0.17 | 1.37 | - |
| and | 61.90 | 76.95 | 15.05 | 26.48 | 0.19 | 0.09 | 0.42 | 66.82 |
At the Howards Pass lead zinc mine in the eastern Yukon, which has characteristics analogous to mineralization at Surprise Creek, the main deposit is directly positioned under the main barite zone.
Mountain Boy is most encouraged from the results in light of the extensive and numerous showings that require further work.
The barite in itself is significant as the Company has demonstrated that a high quality product can be achieved through floatation with significant base and precious metal recovery. Barite is used by the oil and gas industry as a weighing agent in drilling muds and there is a large production shortage in North America. With increased oil and gas prices drilling activities have increased and demand and prices for barite are rising. With the deep water port of Stewart, B.C. within half an hour of trucking from the deposit, Mountain Boy could compete on the international markets. Barite is currently selling from US$120 to US$180 per ton depending on the location and would add considerable value to the economic potential of a silver base metal operation at Surprise Creek. The world barite market is estimated to steadily increase from US$2.2 billion in 2016 to US$4.1 billion by 2024 according to Global Market Insights, Inc. of Delaware, USA.
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.