Mountain Boy Minerals LTD - Total of 33,500 meters of Drilling in Proposed 2008 Exploration Program
April 24 2008 - 12:12PM
PR Newswire (US)
Trading Symbol: TSX-MTB Frankfurt-M9U.F OTC-MBYMF STEWART, BC,
April 24 /PRNewswire-FirstCall/ -- The Company which owns extensive
mineral holdings in the Stewart area plans aggressive exploration
programs on properties in which it has a 100 % interest. There are
twelve different properties in the company's portfolio (9 of which
are 100 % owned) with some properties having outlined mineral
resources. Pending government approval, Mountain Boy Minerals plans
to explore the Red Cliff, George Copper, MB, FR and BA properties
all of which are in the Stewart area and 100 % owned. Approvals are
being awaited for 33,500 meters of drilling as follows: 2,500
meters of drilling on the FR, 10,000 meters of drilling on the BA,
5,000 meters of drilling on the MB, 10,000 meters of drilling on
the Red Cliff and 3,000 meters of drilling on the George Copper
properties. The company owns 4 diamond drills which will be used to
complete the above drilling at a cost well below what is presently
being charged. In addition, the company has farmed out the Dunwell
and Ben Ali properties with the farm in agreement calling for a
program that includes 3,000 meters of drilling. As well exploration
work will be conducted on the Mackenzie property (20 % Mountain
Boy) by a farm in partner. A brief summary of the companies main
properties are as follows: Silver Coin project - The resource on
this property totals 1,370,803 ounces of gold in 25,655,126 tonnes
grading 1.662g/t Au, 7.492g/t Ag, 0.022% Cu and 0.285% Zn along a
1.5 to 2 kilometer long breccia zone. This resource is based on a
National Instrument 43-101-compliant technical report on the Silver
Coin property (which encompasses the Kansas claim) prepared by
Minefill Services Inc. of Seattle, Wash., in April, 2007, This
resource is along 500 meters of strike length within the Kansas
claim (29.4 % Mountain Boy) and 200 meters within the Big Missouri
Claim (49 % Mountain Boy). The company directly owns approximately
424,000 ounces gold plus silver and zinc credits in 700 meters of
this breccia strike length with the structure open along strike to
the north and south (49 % Mountain Boy interest). At least one
kilometer of mineralized structure remains to be tested to the
north with mineralization also open an unknown distance to the
south. Exploration for 2008 on this property was dependent on a
November 2007 joint venture meeting in order to review the 2007
drill results and plan a 2008 program. To date, Mountain Boy has
not received notice for any joint venture meeting or work proposal
approval by its joint venture partner for the Silver Coin project.
MB Silver project - This project contains numerous
silver-zinc-barite veins with an indicated 43-101 compliant
resource totaling 105,555 tonnes grading 208.9 g/t Ag, 2.01 % Zn,
0. 68 % Pb, 0.064 % Cu and 13.59 % BaSO4 outlined in short portions
of 3 different veins. Drilling in 2008 will be above the Cameron
adit in which 2 underground chip lines several meters apart gave
3.4 meters of 398.8 g/t Ag, 2.16 % Zn and 0.15 % Cu followed by 3.0
meters of 45.5 g/t Ag, 3.62 % Zn and 0.024 % Cu. A trench over part
of the vein system 30 meters above this adit yielded 3200 g/t Ag
over 1.5 meters. Drilling will include 5,000 meters to test above
and below this trench as well as along strike in the immediate
area. Road access is presently possible to the Cameron portal and
drill set-ups will be off the existing road. George Copper project
- Historical resources have been reported to total (indicated and
inferred) 180,000 tonnes grading 2.0 % copper, 17.1 g/t Ag and
2.1g/t Au. Unclassified resources were reported to be 453,550
tonnes grading 2.0 % copper, 17.1 g/t Ag and 2.0 g/t Au. These
resources are not 43-101 compliant and are being used for reference
purposes only. These historical resources were based on work by
Consolidated Mining and Smelting (now Teck Cominco) for surface
work in 1929. Excellent potential exists for up grading resource to
present day classifications and expanding the total resource.
Exploration potential on the property is considered to be excellent
with 4 different types of targets including stratabound
copper-silver, vein type copper-gold, vein type Pb-Zn-Cu-Ag as well
as potential Kuroko type Zn-Pb-Ag extending from the BA discovery
area. The company plans to test, with 3,000 meters of drilling, the
down dip extent of the vein type copper-gold particularly below
trenches (1917 era) that yielded copper mineralization having
values of 4.0 % Cu over widths of 3.0 meters in these cuts. Red
Cliff project - Historical resources have been reported to total
20,789 tons of sorted ore averaging 3.19% Cu and 2 gram/tonne gold
within a stope area of the former small mine. These resources are
not 43-101 compliant and are being used for reference purposes
only. To date 2007 drilling has confirmed the presence of high
grade copper and high grade copper-gold veins in the area of these
historical resources. Exploration has only been carried out on a
small portion of the most easterly edge of mineralization with
zones open to surface (up to 1000 meters of height), depth and to
the west along strike. In addition, the company explored the
Montrose zone which had 65 tons mined averaging 2.45 opt Au, 2.95
opt Ag, .91% Cu, 3.5% Pb and 4.41 % Zn in 1939 - 41. Work in the
area of high grading during a 1979 surface sampling program yielded
19.31 g/t Au over 2.43 m and 1987 surface sampling gave 7.93g/t Au
over 3.81 m. Several holes drilled in 1988 to 1990 gave intercepts
of 1.72 g/t Au over 14.48 m including 9.31 g/t Au over 1.70 m and
1.17 g/t Au over 16.89 m including 4.82 g/t Au over 2.29 m. In 1988
the Waterpump Zone which represents the south fault extension of
the Montrose Zone was discovered. It is located approximately 50
meters south of the 1939-1941 mining. A trench over the zone gave
values consisting of 21.37 g/t Au over 4.2 m and 6.89 g/t Au over
3.3 m with 2.0 m of dyke between the values. Across the entire zone
including the dyke, the sampling yielded an average of 12.07 g/t Au
over 8.5 m. Drilling in 2007 gave values of 16.61 g/t Au over 1.61
meters and 9.22 g/t Au over 3.05 meters for the Montrose zone. The
company plans to continue to explore this property with 10,000
meters of drilling in 2008 in order to expand the area of known
mineralization, both in the Montrose zone and copper-gold zones...
BA project - A total of 45 holes have been drilled in 2006-2007 on
the main exposed high grade silver - massive sulphide horizon with
5 of these holes testing for a southerly extension beneath a cover
of overlying sediments. Zinc-silver and lead values within the high
grade silver - massive sulphide horizon on the BA claims have been
intersected in drilling over at least 500 meters in strike length
in a volcanic rock unit traced for over 5 kilometers. Wherever the
zone is exposed along the 5 kilometers of strike length, sampling
has yielded zinc-silver-lead values. In the immediate area of
drilling, the mineralized zone is exposed for over 1 kilometer of
strike length. The mineralized zone is located in the upper parts
of Bear Glacier Valley within the same stratigraphic horizon as
that which hosts the Eskay Creek deposit. The company believes that
the zone represents the upper portion of a Kuroko-type volcanogenic
massive sulphide (VMS) system composed of an exhalite horizon with
related zinc-lead-silver mineralization. This mineralization
consisting of finely bedded sphalerite and pyrite with minor galena
and chalcopyrite occurs below the main exhalite (red jasper/green
to grey chert) horizon and is located within mudstones, mudstone
breccias and dacite breccias. A zone 3 kilometers south of the
drilling with grab samples giving 12 % zinc and 698 g/t silver are
within the same stratigraphic horizon as the results below. The
horizon which is strongly folded to the north of the drilling has
been traced for at least 1 kilometer in that direction. Highlights
of 2007 drilling includes 57.93 meters of 140.44 g/t Ag, 1.66 % Pb
and 2.51 % Zn in DDH-2007-BA-1, 6.1 meters of 276.65 g/t silver,
1.98 % lead and 3.77 % zinc in DDH-2007-BA-2, 12.20 meters of 145.3
g/t silver, 3.13 % lead and 2.30 % zinc and 37.20 meters of 140.7
g/t silver, 2.63 % lead and 2.89 % zinc in DDH-2007-BA-5, 26.98
meters of 99.03 g/t silver, 1.16 % lead and 3.72% zinc in
DDH-2007-BA-9 and 15.24 meters of 52.91 g/t silver, 1.01 % lead and
5.73 % zinc in DDH-BA-2007-10. Drilling in 2008 will include 10,000
meters of drilling in approximately 60-70 holes. It is the
companies plan to have a 43-101 report prepared on this property at
the end of the 2008 drilling. This project has the potential to
host a large Kuroko type VMS deposit that is silver rich. FR
property ----------- The company plans to explore the Lilianne vein
which is at least 600 meters long with strong gold-silver values.
Best grab results included 236.6 g/t Au, 8108 g/t Ag, 11.24 % Cu,
5.95 % Pb and 13.4 % Zn. This vein has the potential to host a high
grade epithermal gold-silver deposit. The company plans to conduct
2,500 meters of drilling to define this poorly exposed vein system.
E. Kruchkowski, P. Geo., a qualified person under National
Instrument 43-101, is in charge of the exploration programs on
behalf of the Company. Drill core and surface samples are assayed
by Assayers Canada of Vancouver, BC. Mountain Boy Minerals Ltd is a
Canadian based mineral exploration company whose activities are in
the Stewart and McKenzie area of BC. It is actively exploring for
gold-silver-base metals on the Silver Coin project, silver-base
metals on their American Creek properties, copper-gold in the
Stewart area, porphyry molybdenum in the Stewart and McKenzie areas
and copper-nickel-platinum group metals in the McKenzie area. ON
BEHALF OF THE BOARD "Ed Kruchkowski" Ed Kruchkowski, Director
CONTACT: Ed Kruchkowski at (250) 636-9232, or visit the website at
http://www.mountainboyminerals.ca/ DATASOURCE: Mountain Boy
Minerals Ltd. CONTACT: Ed Kruchkowski at (250) 636-9232, or visit
the website at http://www.mountainboyminerals.ca/
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