Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

August 31, 2010 14:06 ET

Mountain Boy Minerals Ltd.: Bonanza Gold-Silver Mineralization With 105 g/t Gold and 1748 g/t Silver Identified at FR Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2010) - Mountain Boy Minerals Ltd. (the "Company") (TSX VENTURE:MTB) announces results from their 2010 exploration program on its 100% owned FR property. The FR property consists of 7675 hectares within 21 claims at the headwaters of American Creek approximately 42 kilometres north of Stewart BC.

To date, the 2010 exploration program has identified a stockwork zone over 15 metres wide containing stringers and veins of quartz-sulphide. The quartz veins which are heavily manganese stained carry from trace to strong chalcopyrite, galena and sphalerite mineralization. The stockwork zone may be an off shoot or parallel zone to the Lilianne zone that was traced over 600 metres along strike in 2006 exploration. The recent strong snow melt has exposed additional new mineralization. Results of grab sampling on some of the veins in the stockwork are summarized below.

  Assay Assay Assay Assay Assay
Sample Au Ag Cu Pb Zn
Name g/t g/t % % %
FR1 13.1 82.4 0.547 0.42 0.03
FR2 0.95 13.9 0.018 0.03 0.03
FR3 105.0 1071 4.57 6.40 0.19
FR4 58.4 485.7 3.88 0.94 0.80
FR5 90.0 992.1 6.05 1.58 0.32
FR6 61.2 998.3 4.92 3.17 3.14
FR7 58.4 1748 6.99 3.21 1.60
FR8 50.2 994.9 4.85 4.00 2.53

The region associated with this recent sampling is at the intersection of two strong mineralized trends. No drilling has been previously conducted on these zones. A drill rig is presently being mobilized to the property and all necessary drill permits have recently been received.

Update on Additional Property Holdings

Red Cliff Project

Mountain Boy Minerals Ltd. has been informed by its joint venture partner, Decade Resources Ltd., that assay results are expected shortly from drilling and sampling on the Company's 40% owned Red Cliff Project. 

BA Project

The Company is expecting the release of results from exploration on the Company's BA Project, under option to Great Bear Resources Ltd. Great Bear has planned a 17,000-metre program for the BA project in 2010. The focus of this work will be the north-south and down-dip expansion of the main zone high-grade mineralization and the discovery of new silver-rich VMS zones.

Dunwell Project

Additional results from drilling at the Company's wholly owned Dunwell property are pending expected soon. The Dunwell Gold Mine is located 7.5 kilometres northeast of Stewart, and is a former producing gold mine.

Silver Coin Project

The Company has also been informed by its joint venture partner, Jayden Resources Inc., that drilling is about to begin on its 30% owned Silver Coin Project. 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.

E. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of exploration on behalf of the Company. Assaying is carried out by Assayers Canada.

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

Contact Information

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