Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

June 21, 2010 14:38 ET

17,000 Meter Drill Program Begins on Mountain Boy's BA Project

STEWART, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) ("Mountain Boy" or the "Company") reports that Great Bear Resources Ltd. ("Great Bear") has started work on the BA Project, in the Eskay Creek mining district near Stewart, British Columbia. More than 17,000 metres of diamond drilling is planned; targeted at expanding the Main Zone massive sulphide outlined by Mountain Boy in drilling programs from 2006 to 2008. This zone which is open in all directions is one of many VMS targets in the project area. 

The mid-June start date represents an earlier beginning to the field season than had previously been anticipated. Drilling services are being provided by MoreCore Diamond Drilling Services Ltd. based out of Stewart, British Columbia.
Extensive prospecting and geological mapping is also underway, in addition to a more than 200 square kilometre airborne VTEM geophysical survey. Prospecting, mapping and geophysical surveying all aim to identify additional silver-rich VMS mineralization targets beyond the Main Zone mineralization. A second silver rich massive sulphide discovery has been identified and confirmed by historical sampling 4 kilometers east of the Main Zone.

The BA Project

As previously announced, Great Bear has entered into an Option and Joint Venture Agreement with Mountain Boy to earn a 50% interest in the BA project by spending $5.5 million over four years, and can earn an additional 20% interest, for a total of 70%, by completing a Bankable Feasibility Study on or before December 31, 2015.

The BA Project hosts a silver rich volcanogenic massive sulphide (VMS) system that has been drill confirmed for 600 metees of mineralized strike and down dip for 300 metres. The discovery is open for expansion in all directions. 62 of 90 drill holes into the Main Zone at BA have returned in excess of 2 oz silver over drill indicated widths of 3 to 134 metres with significant associated lead – zinc mineralization.

Iceberg Claims

Mountain Boy owns a 100% interest in a large claim package covering a rhyolite/dacite which is the same stratigraphic horizon associated with the BA mineralization.

In 2008, limited grab and chip sampling in an exposure of rhyolite breccia with minor tetrahedrite along fracturing has yielded high silver values. The rhyolite contains abundant barite and several zones of galena-sphalerite and tetrahedrite mineralization. Best assays received are as follows:

Sample No. Sample type Au g/t Ag g/t Cu % Pb % Zn %
Freeze 1 Grab 1.14 3275 1.08 0.06 0.17
Freeze 2 1 metre chip 0.37 859 0.236 0.03 0.04

The Company plans to fly an airborne VTEM geophysical survey over the southern exposed outcrops. If results of the survey indicate anomalies, the company will develop a drill program to test these EM responses. A program of prospecting, rock geochemistry and sampling of outlined mineralization will also be conducted on these claims.

About Mountain Boy Minerals Ltd.

Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings around the Stewart region in British Columbia's golden triangle. It owns 30% of the Silver Coin project, a gold-silver-base metals project with a 43-101 defined 944,000 ounces gold in the measured and indicated category and 1,400,000 ounces in the inferred category. The Company is also is exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold in their Stewart area claims.

ON BEHALF OF THE BOARD

Ed Kruchkowski, Director

"This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

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.

Contact Information

  • Mountain Boy Minerals Ltd.
    Investor Relations
    604-681-0710
    or
    Mountain Boy Minerals Ltd.
    Ed Kruchkowski
    250-636-9232
    www.mountainboyminerals.ca