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Surface Work Indicates That the Ataman Zone is a Large VMS System With Sampling Yielding up to 479 g/t Silver and 11.64% Zinc

Dienstag, 29.11.2016 08:30

Mountain Boy Minerals LTD / Surface Work Indicates That the Ataman Zone is a Large VMS System With Sampling Yielding up to 479 g/t Silver and 11.64% Zinc . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

STEWART, British Columbia, Nov. 29, 2016 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (Mountain Boy) (TSX-V:MTB) (Frankfurt:9MU) reports that the 2016 exploration program on the Surprise Creek property has yielded high grade silver-base metal values from grab sampling of both outcrop and float on the Ataman zone. The property which is in the Stewart area of the Golden Triangle district of British Columbia, is 50 percent owned through a JV with Great Bear Resources Ltd with Mountain Boy as the operator. The zone is located 12 kilometres north from an electric transmission line and paved highway 37A, the main access route to Stewart, British Columbia.

Highlights of the surface sampling from part of the zone include:

  • The full size of Ataman zone is not known as the zone was not fully explored. 
  • In the middle part of the Ataman zone several barite-carbonate veins and shear zones up to 25 metres wide were found. These are potential sources of barite.
  • Several angular boulders up to 1.0 metres in size composed of limestone/ mudstone with 1 to 15% sphalerite were located near the footwall region of the zone.  Three samples collected from these boulders assayed 3.04, 3.13 and 11.64% zinc plus anomalous lead, silver, gold, arsenic and tungsten.
  • Float breccia composed of chert and barite fragments cemented by limonite yielded 479 g/t Ag, 0.17 g/t Au, 2.45% Pb and 0.7% Zn.
  • A limestone/chert horizon at least 3-4 metres wide with extremely fine grained sphalerite returned 81 g/t Ag, 0.22% Pb and 5.53% Zn. 
  • A 1.0 m chip from a barite-carbonate vein with visible 1-2% galena and 2-3% sphalerite assayed 297 g/t Ag, 0.85% Pb and 3.10% Zn.

Potential Targets on the zone include:

  • Zinc-silver zones with lead, copper and gold values.
  • Silver rich zones in barite breccia.
  • Copper-zinc-silver-lead zones in barite rich rocks.
  • Barite rich shear zones.
  • Gold-silver zones at depth beneath the vent area identified on the Ataman zone.

The Ataman zone is at least 200 by 600 metres in horizontal and 650 metres in vertical dimension. At the bottom of Ataman Zone there is a zone of intense sericite-quartz-pyrite alteration with associated quartz veining and replacements which sporadically carry up to 3% pyrite, galena, sphalerite and chalcopyrite.  The sericite dominated zone is approximately 100-120 metres high and 200-220 metres long. Numerous barite-carbonates boulders containing up to 15% galena and 5% sphalerite were found just above the sericite zone.  In addition to numerous mineralized zones within the Ataman zone an area of silica sinter was found indicating that Ataman Zone represents a vent area of a VMS system.  Approximately 1.3 kilometres south from the Ataman zone numerous float boulders of limestone/chert with up to 1-2% sphalerite were found, indicating a great extent to this mineralized system.

Work in 2017 will focus on defining the full extent of this large mineralized system including drilling, mapping, prospecting and metallurgical studies. 

All samples are assayed by Loring Laboratories of Calgary, Alberta. It is an ISO9001 certified laboratory. All gold assays are analyzed by fire methods which includes gravimetric finishes on the individual samples.

Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Mountain Boy as he is the president and a director of the Company.

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 20% of the Silver Coin project, a gold-silver-base metals project that has a 43-101 compliant resource calculated. The Company is also exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on their Stewart area claims. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca.  For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.

ON BEHALF OF THE BOARD OF Mountain Boy Minerals LTD.

"Ed Kruchkowski"
Ed Kruchkowski, President, Director

"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." 

"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."

Mountain Boy Minerals LTD
Box 859
Stewart, British Columbia
V0T 1W0
Phone (250) 636-2290
Fax (250) 636-2446
Web page: mountainboyminerals.ca



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Source: Mountain Boy Minerals LTD via Globenewswire

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Mountain Boy Minerals LTD
Box 859 Stewart Canada

WKN: 728492;ISIN: CA6238581079;
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