Monday September 24, 11:02 am Eastern Time
Press Release
SOURCE: Mountain Boy Minerals Ltd.
Mountain Boy Minerals Ltd.
Trading Symbol: CDNX -MTB
STEWART, BC, Sept. 24 /CNW/ - The company is pleased to announce that assay
results for the first 12 holes drilled on the High-Grade zone have been received. The
holes were drilled to test the High-Grade zone in an area of past mining activities and
where it has been tested by several adits and one open cut. The holes with BTW size
core were drilled off one pad at different azimuths and dips.
The pad was located immediately above the High-Grade vein that apparently dipped
into the hillside or west at 25 degrees. In the early 1930's, the Fagan adit was driven
in order to intersect the High-Grade vein at depth, below the area of the high
silver-bearing stringers. It was located approximately 23 meters in elevation below the
High-Grade vein and 40 meters east of the drill pad. The adit failed to locate this vein.
According to previous reports, this vein was interpreted as having been faulted leading
to the failure in intersecting it. The High-Grade vein displays evidence of strong
faulting with abundant slickenslides on most of the fractures. Not only is faulting
present at right angles to the strike, it is also present on strike along the vein. Vertical
displacements of 1 meter along the vein have been noted in an area with little apparent
faulting.
It should be noted that because the pad was so near the vein, in the hanging wall
portion, the drilling only tested a portion of the vein over an area approximately 10 by
20 meters. The close spaced holes were completed in order to test the vein in an area
of faulting and variable mineralization as well as confirm the extent of the high-grade
stringers within the overall much wider and lower grade High-Grade vein.
Mineralization exposed during the past mining efforts varies greatly along strike of the
vein with massive argentite and stromeyerite stringers varying from 0.6 meters down
to several centimeters over a short distance of several meters. The high silver-bearing
portion of the vein has been outlined along approximately 60 meters of vein length. To
the south of the above stringers and approximately 40 meters south of the pad, within
the Daly adit, the High-Grade vein, 4 meters wide, carries massive sphalerite, minor
galena lenses up to 1 meter in thickness. To the north of the stringers, the vein
contains blocks of waste as well as being displaced along an east-west fault.
The numerous holes from this site were intended to give information in regards to possible further select mining and
provide as accurate a grade for possible resource calculations in the future. The assay results in these holes will provide
a check for the assay results obtained in the chip lines completed during the 1999 and 2000 field programs.
Assay results for these holes with azimuths and dips are as follows:
Drill Azi- Dip Total Vein Vein Cu Pb Zn Ag
Hole muth Deg- Depth Depth Width % % % G/tonne
Num- Deg- rees Meters Meters Meters
ber rees
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1 0 Vertical 17.37 6.09 4.81 0.04 0.07 0.64 326
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2 115 -80 18.28 6.71 4.51 0.10 0.23 0.63 373
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3 115 -70 14.63 7.77 1.98(x) 0.17 0.31 0.23 680
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4 70 -75 13.4 3.20 3.65(x) 0.09 0.36 0.56 917
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5 25 -75 20.42 3.35 3.13(x) 0.06 0.79 0.51 203
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6 340 -75 15.24 6.4 6.78 0.04 1.16 0.44 87
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7 295 -80 15.24 8.22 3.38 0.06 0.18 0.18 530
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8 295 -70 19.5 7.31 5.19 0.08 0.20 0.25 534
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9 295 -60 17.98 7.01 7.80 0.04 0.31 0.22 117
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10 295 -50 20.72 8.38 2.21(x) 0.09 0.11 0.22 156
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11 275 -70 13.1 7.92 4.81 0.16 1.02 0.63 757
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12 260 -70 15.24 7.77 3.51(x) 0.06 0.71 0.17 111
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- Partial zone reported, other assays in zone were low.
Stringer zones, 0.3 to 0.6 meters wide located from 1 to 2 meters above and below the High-Grade vein yield
significant silver assays in the range of 60 to 200 grams.
The overall true width of the zone is 4.5 meters. The company has built a second drill pad topographically higher and to the west of the first pad to test the vein at greater depth. It is expected that a minimum of 3 and maximum of 5 holes may be drilled off the second pad. Because the pad is much higher in elevation than the first, the holes will be angled at different azimuths approximately 45 degrees apart to test west of the Daly adit and Open Cut.
The first three holes completed on the second pad have been completed. The first hole which was vertical intersected 5 meters of vein zone with 2.5 meters of country rock within the middle of the zone. The second hole which was at 120 degrees azimuth and at a dip of -70 degrees intersected 13 meters of vein and mineralized wall rock. The third hole at an azimuth of 175 degrees and a dip of -70 degrees intersected 11 meters of vein material. The holes appear to contain minor silver-bearing minerals but more abundant sphalerite than the holes from the initial pad.
The drill program is under the supervision of E. Kruchkowski, B.Sc. P. Geol.
ON BEHALF OF THE BOARD
(signed)
Frank Kamermans, President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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