- 6.6 g/t Gold over 11.19 m in DDH-17-MON-31
- 13.9 g/t gold over 2.04 m and 13.7 g/t gold over 3.05 m, both in DDH-17-MON-31
- Area of mineralization has been increased.
- Future plans to complete initial gold resource in 2018
VANCOUVER, British Columbia, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (MTB.V) (M9U.F) (“Mountain Boy”) reports on the final results for the Montrose zone on the north side of Lydden Creek from the 2017 drill program. The Red Cliff property is located in the “Golden Triangle” area of British Columbia. Exploration during the 2017 field season indicates that the Red Cliff property hosts a large mineralized system that has been traced for over 2 kilometers. Exploration to date 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 Red Cliff drilling and some of the holes on the Montrose zone were released on September 27, 2017 and October 26, 2017 (see SEDAR for details). Three holes of the 35 on the Montrose zone were terminated after rod and bit loss in the holes due to faulting. Assay results are for drill holes that were not cut in numerical order. Results are being disseminated as received (see press release from October 26, 2017).
Highlights of the latest assays received include:
- Numerous gold bearing zones within the Montrose structure as seen in DDH-2017-7.
- Intersection of 14.6 g/t gold over 2.20 m in DDH-17-MON-8.
- Intersection of 13.9 g/t gold over 2.04 m in DDH-17-MON-31.
- Intersection of 13.7 g/t gold over 3.05 m in DDH-17-MON-31.
Complete assay results for the Waterpump zone have not been received. Once those have been received and tabulated, results will be released.
Drill hole collar locations and elevations have been completed by a surveyor. A data base with GPS locations for all holes as well as the elevations will be established. This data in conjunction with all the drill hole assays will be used to create a new model that shows gold grade shells. All additional assays (cutting extra core) 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.
Drill results are summarized below for holes on the Montrose zone as follows:
| DDH No. | From (m) | To (m) | Interval (m) | Gold (g/t) |
| DDH-MON-7 | 228.66 | 230.03 | 1.37 | 2.78 |
| and | 237.5 | 239.02 | 1.52 | 10.20 |
| and | 251.83 | 256.86 | 5.03 | 5.88 |
| and | 264.39 | 265.91 | 1.52 | 10.40 |
| DDH-MON-8 | 229.42 | 230.85 | 1.43 | 2.78 |
| and | 241.01 | 243.20 | 2.20 | 14.60 |
| and | 249.7 | 251.83 | 2.13 | 1.39 |
| DDH-MON-9 | 227.74 | 228.81 | 1.07 | 3.79 |
| DDH-MON-12 | 42.38 | 42.84 | 0.46 | 5.34 |
| DDH-MON-13 | 29.42 | 32.01 | 2.59 | 2.03 |
| and | 45.27 | 48.17 | 2.90 | 5.28 |
| DDH-MON-29 | 82.77 | 90.85 | 8.08 | 2.62 |
| and | 96.85 | 106.10 | 9.15 | 7.05 |
| and | 112.20 | 121.34 | 9.15 | 2.06 |
| DDH-MON-30 | 105.79 | 107.01 | 1.22 | 3.88 |
| DDH-MON-31 | 352.44 | 355.49 | 3.05 | 5.75 |
| and | 374.79 | 385.98 | 11.19 | 6.60 |
| Including | 374.79 | 376.83 | 2.04 | 13.90 |
| Including | 382.93 | 385.95 | 3.05 | 13.70 |
| and | 395.12 | 396.6 | 1.52 | 4.71 |
| DDH-MON-32 | 190.85 | 192.93 | 2.07 | 2.07 |
Drill hole azimuths vary from 240 to 320 degrees based on drill pad sites available on a steep hillside so true widths are not yet determined.
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 NI 43-101 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.