Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

March 18, 2010 09:00 ET

Mountain Boy Minerals Ltd.: 309.3 Grams Per Tonne (g/t) Silver 3.95% Lead and 6.19% Zinc Over 9.15 Metres Intersected in the Silver Rich VMS Horizon on the BA Claims

STEWART, BRITISH COLUMBIA--(Marketwire - March 18, 2010) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) reports assay results for another 12 drill holes completed during the 2008 exploration program on the BA property in northwest British Columbia have been received. An additional 10 holes drilled during the 2008 field season remain to be assayed.

Highlights of these latest results include: 51.73 metres grading 146.13 g/t silver, 1.39% lead and 4.01% zinc in DDH-2008-BA-62 including 9.15 metres of 309.27 g/t silver, 3.95% lead and 6.19% zinc and 3.05 metres grading 187.5 g/t silver, 1.77% lead and 4.24% zinc in DDH-2008-BA-58.

Exploration has been on a mineralized zone located in the upper parts of the Bear Glacier within the same stratigraphic horizon that hosted the Eskay Creek deposit. Since start-up in 1995, until closure in 2008, the Eskay Creek mine produced more than 100 tonnes of gold and 5000 tonnes of silver. Project geologists believe that the zone on the BA property represents the upper portion of a Kuroko-type volcanogenic massive sulphide system (VMS) composed of an exhalite horizon with related zinc-lead-silver mineralization. Mineralization occurs below the main exhalite horizon and is located within mudstones, mudstone breccias and dacite breccias.

Within the BA claims exploration has identified this horizon in separate locations as follows:

South Area

This area was the initial discovery area for the BA claims with assay results up to 6.9% zinc, 2.3% lead and 759.6 g/t silver obtained in a mudstone float sample during a 2005 exploration program. Work in 2008 confirmed the presence of dacitic/rhyolitic rocks in this area as well as confirming the presence of mineralization within mudstones. A float sample of a weakly hydrozincite stained mudstone gave 4.77% zinc, 0.69% lead and 82.9 g/t silver in the area of a dacite/rhyolite exposure.

Central Area

This area has been the most intensely explored with 93 drill holes completed over a 400 meter section of exposed zone. The central area is 5 kilometers northwest of the south area. In this area, the mineralized horizon is up to 80 meters thick and has been drilled to a depth of 300 meters below surface. The zone dips approximately 45 degrees to the northwest, parallel to the hillside making it amenable to open pit mining if a deposit is defined. Drilling to date has been on a relatively flat gravel bench along the zone using an excavator to pull the drill from one set-up to another. Northeast and downhill from the drilling, the zone is exposed over another 300 meters along a steep hillside before trending under a small glacier. Exposed mineralization consists of thinly bedded massive pyrite and sphalerite over widths of 6 meters in a zone that is in excess of 40 meters. Approximately 800 meters northeast of the most northerly exposed mineralization, dacite breccia float mineralized with galena and sphalerite indicate that the zone continues beneath this glacier. A float sample of dacite in this area of extension yielded 0.92% zinc, 4.21% lead and 279.9 g/t silver. Overall indication for the central area mineralization is at least 1500 meters based on these exposures and located float samples.

North Area

This area is 600 metres due north of the area of recent drilling with mineralization exposed in the valley slopes. In this area, there are at least 2 different exposed mineralized horizons with indications that there may be 2 more in poorly exposed areas. The mineralization varies from 6 to 25 meters in width in zones that dip gently to the northeast, opposite to that for the Central area. The horizons can be traced along a bench area extending 500 meters east-west and 500 meters north-south. Grab sampling of the upper horizon which is up to 6 meters thick returned up to 6.23% zinc, 0.86% lead and 81.4 g/t silver while grab sampling of the 25 meter thick lowest horizon returned up to 7.44% zinc, 1.05% lead and 28.9 g/t silver.

Work to date has been confined to a small portion of this large VMS belt that has been interpreted to extend for 12 kilometres in the area of the drilling based on government mapping and sampling by the Company.

Assays results for drill holes DDH-2008-BA-52 to DDH-2008-BA-63 from the Central area with assay results greater than 1% zinc or high silver values are as follows:

DDH From (m) To (m) Width (m) Ag g/t Pb % Zn %
DDH-2008-52 78.66 81.71 3.05 116.6 0.85 1.38
and 100 121.34 21.34 28.0 0.18 1.45
including 109.15 121.34 12.20 33.65 0.22 1.37
DDH-2008-53 5.49 11.59 6.10 33.90 0.19 1.31
and 57.32 60.37 3.05 44.50 0.11 1.51
and 118.29 121.34 3.05 61.4 1.19 1.01
and 130.49 133.54 3.05 54.9 0.25 1.20
DDH-2008-54 29.88 32.93 3.05 48.3 0.73 1.59
and 93.90 100.00 6.10 112.65 0.61 0.12
DDH-2008-55 23.78 26.83 3.05 341.90 0.09 0.66
and 118.70 120.90 2.29 58.90 0.06 1.41
DDH-2008-56 62.96 82.01 19.05 94.55 0.73 1.25
DDH-2008-57 75.91 97.26 21.04 102.79 0.62 1.21
including 75.91 85.06 9.15 147.57 1.27 1.41
and 101.83 106.40 4.57 24.20 0.16 1.21
and 127.74 130.79 3.05 24.70 0.41 2.11
and 145.04 152.13 6.10 26.60 0.32 1.97
DDH-2008-58 185.70 188.70 3.05 187.50 1.77 4.24
DDH-2008-60 48.17 96.95 48.80 70.50 0.35 1.56
including 69.51 78.66 9.15 68.10 0.56 4.58
including 84.76 90.85 6.10 262.50 0.17 0.17
DDH-2008-61 81.40 133.25 51.80 58.40 0.36 0.98
including 81.40 93.60 12.20 32.23 0.23 1.75
including 96.55 99.70 3.05 154.80 0.32 0.34
including 124.09 133.23 9.15 99.67 0.44 0.79
DDH-2008-62 71.95 80.49 8.54 21.14 0.18 1.68
and 105.49 157.01 51.73 146.13 1.39 4.01
including 132.93 142.07 9.15 309.27 3.95 6.19
including 148.17 157.01 9.15 164.01 0.42 4.01
DDH-2008-63 96.04 100.30 4.26 15.94 0.15 1.13
and 105.20 108.20 3.05 33.3 0.28 1.99
And** 285.10 294.20 9.15 181.73 0.32 0.98

**Caving prevented further drilling as hole ended at this interval. 

Mountain Boy has granted Great Bear Resources Ltd. an option to acquire up to a 70% interest in the Company's BA and George Copper projects both located 30 kilometres east of Stewart, British Columbia. Great Bear can earn an initial 50% interest in a joint venture on the BA project by paying $158,000 in cash and incurring $5,500,000 in exploration expenditures on or before December 31, 2013. Great Bear can earn an additional 20% interest (for a total of 70% interest) by completing a bankable feasibility study on or before December 31, 2015.

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 samples are assayed by Assayers Canada of Vancouver, BC. The Company uses a program of blank and standard insertion with the core samples to provide quality control on the assaying.

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 is actively exploring for gold-silver-base metals on the Silver Coin project, silver-base metals on their American Creek and Bear Valley properties as well as copper-gold in their Stewart area claims.

For further information, please visit the website at http://www.mountainboyminerals.ca.

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
    or
    Mountain Boy Minerals Ltd.
    Box 859 Stewart, BC V0T 1W0
    250-636-2290
    250-636-2446 (FAX)
    www.mountainboyminerals.ca