Company Acquires Property in the Stewart Area with High Grade Copper-Gold-Silver Zones and High Grade Gold Zones
16 May 2007 - 4:00AM
PR Newswire (US)
Trading Symbol: (TSX: MTB) (OTC Other: MBYMF) (Frankfurt: M9U.F)
STEWART, BC, May 15 /PRNewswire-FirstCall/ -- Mountain Boy Minerals
Ltd. announces that a 100 % interest has been acquired in the Red
Cliff property from Thundermin Resources Inc. The Red Cliff
property is a former producing copper and gold property dating back
to 1908 located about 20 kilometers north of Stewart, British
Columbia in the Skeena Mining Division. It consists of 8 Crown
Granted claims along Lydden Creek. The property is accessible by
road approximately 1.5 kilometers from paved highway 37A and is
underlain by lithologies of the middle Jurassic Hazelton Group.
These rocks host significant precious and base metal deposits in
the Stewart Camp including the Silbak Premier, Silver Coin,
Sulphurets, Red Mountain and Eskay Creek deposits. Seven zones of
copper-gold and/or gold mineralization occur on the property, which
appear to align in a north - south direction. Highlights from
historical work for the three main zones include: Redcliff Zone:
this zone contains 2,300 m of underground development on 5 levels
from 4 portals over a height of several hundred meters with limited
Cu-Au production reported in 1910-12 and 1973. From 1910 - 12
production from the Redcliff zone amounted to approximately 1,136
tonnes estimated to average 5% Cu. In 1972 some 3,776 tonnes of ore
was sent to a local mill. The only reserve estimate reported for
the Redcliff Zone was in 1912 showing a total of 18,900 tonnes
averaging 3.19% Cu and 2.86 grams per tonne gold. This estimate was
only for broken mineralized material within a stope on one of the
levels in the mine. This estimate is historical and is not 43-101
compliant and is used for reference purposes only. During 1973 the
lowest (700 foot) level of the mine was rehabilitated, sampled and
partially open stoped. Here several parallel lenses of copper -
gold mineralization were identified and sampled, the best lens in a
north drift measured 16.46 meters long, 1.71 meters wide and
averaged 6.5% Cu and 5.17 grams per tonne gold. This lens was
probably an extension of a zone located in a south drift that
yielded 1.31 % Cu and 0.3 gram per tonne gold over a width of 2.13
meters and a length of 14.63 meters. The zone was open to the south
and north along strike. Twenty meters to the west, a parallel zone
contained up to 2.02 % Cu and 0.7 gram/tonne gold over 1.37 meters
and it too was open along strike. Drilling in 1988 and 1990
indicated that the zones extended to depth with the best intervals
yielding 4.00% Cu and 2.06 grams/tonne Au over 1.59 meters. In
addition, high grade gold zones are present in the area of the
copper-gold zones with a drill hole in 1990 intersecting 1.10% Cu
and 61.03 grams/tonne Au over 0.39 meters. Montrose Zone: this zone
occurs approximately 1000 meters to the north of the Red Cliff
zones and consists of silicified andesite associated with shearing
with strong pyrite, chalcopyrite, galena and sphalerite
mineralization. This zone has been developed along several short
adits in a very steep part of the property. Initial sampling above
the portal area to one of the adits gave 198 g/tonne Au across 2.59
meters. During 1939-41 a total of 59 tonnes mined averaged 84.4
grams/tonne Au, 101 g/tonne Ag, 0.91% Cu, 3.5% Pb and 4.41 % Zn. In
1979 surface sampling gave 19.3 grams/tonne Au across 2.43 meters
while 1987 surface sampling returned 7.93 grams/tonne Au across
3.81 meters. Recent drill intercepts include 9.3 grams/tonne Au
across 1.71 meters. Waterpump Zone: this zone was a discovery in
1989 and initial results yielded 11.4 grams/tonne Au across 9.48
meters. Recent drill intercepts gave 3.01 grams/tonne Au across
13.07 meters with several higher grade sections including 14.1
grams/tonne Au and 0.22% Cu over 1.01meters and 21.74 grams/tonne
Au and 4.6% Zn over 0.70 meters. A second intersection yielded 4.82
grams/tonne Au over 2.38 meters. To date, all zones have had very
few drill holes completed and exploration potential is excellent.
Once the company has received all necessary government permitting,
drilling will commence on the property. Terms of the acquisition
include issuing 250,000 common shares of Mountain Boy Minerals Ltd
as well as a 2 % NSR to Thundermin for 100 % of the property. A 1 %
NSR interest can be purchased for $1,000,000.00. This agreement is
subject to TSX approval. E. Kruchkowski, P. Geo. is the qualified
person under National Instrument 43-101 and is in charge of the
exploration programs on behalf of the company. 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: visit the website at
http://www.mountainboyminerals.ca/ DATASOURCE: Mountain Boy
Minerals Ltd. CONTACT: visit the website at
http://www.mountainboyminerals.ca/
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