Mountain Boy Reports Update on Its American Creek Drill Program and Results from Surface Samples

  • Completed 5 holes on the historic High-Grade Zone.

  • Completed 2 holes on the High-Grade extension where 949 g/t silver was sampled on surface.

  • Currently drilling the Maybee Zone where 3,444 g/t silver was sampled on surface.

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2021) – Mountain Boy Minerals Ltd (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9UA) ("Mountain Boy" or the "Company") announces that drilling is proceeding on its flagship American Creek property, with 7 holes completed from 2 drill pads and the drill is now on the third pad.

The American Creek Project is centered on the past-producing Mountain Boy silver mine, located 20 kilometres north of Stewart in BC's Golden Triangle.

Five holes have been completed on the High-Grade zone and two holes on the High-Grade extension. The drill is now on the Maybee Zone. Core samples have been shipped to the lab from the High-Grade and High-Grade extension pads and assays are pending.

Results from surface sampling earlier this season have now been received with highlights in the table below. The recent work included mapping and sampling along the cliffs north of the old mine, an area that had not previously been examined due to the difficult access. Geologists skilled in rock climbing, traced the structure hosting the High-Grade mineralization approximately 400 meters to the north, identifying an area now referred to as the High-Grade Extension where an initial two holes were completed.

Geological work is continuing, focused on the area between the High-Grade Zone and the Maybee zone, a 2-kilometer-long corridor within the 33 square kilometer property. Multiple veins in that area remain under-explored. The intent of the current program is to improve the geological context with the intent of identifying further drill targets.

Select Assays from Surface Samples at American Creek

SampleID

Zone

Ag (ppm)

Cu (%)

Pb (%)

Zn (%)

C0033358

Maybee

3,444.0

1.501

0.009

0.031

C0034021

Mann

2,922.0

0.495

0.132

0.245

C0034057

High-Grade Ext

949.0

0.328

2.770

0.068

C0033353

Jewelry Box

721.0

0.145

0.091

0.121

C0033301

High-Grade

520.0

0.920

3.490

1.250

C0034023

Mann

505.0

0.196

15.260

0.807

C0034056

High-Grade Ext

456.0

2.223

0.225

0.400

C0033361

Maybee

443.0

0.626

0.336

0.785

C0034020

Mann

343.0

0.013

0.157

0.147

C0034003

Four Bees

329.0

0.489

0.371

1.560

C0034004

Four Bees

279.0

0.316

0.773

0.920

C0034052

High Grade

242.0

6.166

5.140

10.730

C0034019

Mann

227.0

0.788

0.174

2.500

C0034016

Mann

185.0

0.005

0.004

0.020

C0034002

Four Bees

170.0

0.081

0.107

0.282

C0034053

High-Grade

127.0

4.214

0.525

0.293

C0034024

Mann

110.0

0.054

0.068

2.170

C0034051

High-Grade

104.0

0.380

10.680

17.570

C0034022

Mann

100.0

0.008

0.028

0.197

C0033354

Jewelry Box

91.8

0.020

0.142

0.117

C0033365

Franmar

91.5

0.043

0.169

0.254

C0033352

Jewelry Box

77.7

0.004

0.002

0.010

C0034001

Four Bees

72.0

0.003

0.160

0.039

C0034151

Four Bees

63.3

0.217

0.205

0.071

C0033356

Four Bees

51.5

0.002

0.028

0.006

C0033364

Franmar

37.6

0.018

0.073

0.480

C0034058

High-Grade Ext

20.6

1.050

0.035

0.249

Mountain Boy CEO Lawrence Roulston commented: "Silver and base metal mineralization has been identified over multiple kilometers and includes some exceptional grades. We are working systematically toward an understanding of this extensive and robust mineralizing system which we firmly believe has the potential to host the kind of deposit for which the Golden Triangle is renowned."

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

  1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.

  2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Work this year is aimed at extending that zone with drilling due to begin in August.

  3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.

  4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).

  5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc. A property wide Skytem survey is set to begin by the end of August.

  6. The Telegraph project, acquired in May 2021, has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle. Exploration this season has been organized in two phases. Phase one is now complete and phase two is set to begin in September.

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

NEITHER 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 certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93209

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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