Mountain Boy Minerals Ltd (TSX-V:MTB, OTCQB:MBYMF) said it was planning an expanded exploration program at its Telegraph project in British Columbia and further work on four of its other assets (Southmore, BA, Theia, and American Creek) in 2023 as the company provided an update on progress at its properties in the region's prolific Golden Triangle.
In 2022, the main focus was on the 280 square-kilometer (sq km) Telegraph porphyry copper-gold project, the firm noted, where work included ground geophysics, soil and rock geochemistry, SWIR (short-wave infrared spectrometry) analysis, geochronology, and prospecting.
For Telegraph, the company is now awaiting the rest of the geochemistry, SWIR and geochronology results, while current and historic results are being compiled into the database.
Lawrence Roulston, the CEO of Mountain Boy summed up: "The results to date support the premise of large-scale discovery potential on each of our projects. Planning is already underway for greatly expanded programs in the coming field season. We anticipate funding from joint venture partners on some of these projects."
READ: Mountain Boy Minerals closes financing with proceeds to fund exploration at Telegraph copper-gold property in British Columbia
At Southmore, at three target areas, magnetite skarn mineralization was identified with chalcopyrite (copper) and sphalerite (zinc) mineralization. Assays from rock samples are pending.
At the BA project, historic work has included drilling on the Barbara, the BA North, and BOD VHMS occurrences and has outlined an extensive area of silver-lead-zinc mineralization. Recent work by Mountain Boy continues to extend the Barbara Zone and has also identified other targets in the area, the company said.
Meanwhile, fieldwork this year at the Theia project followed up on several anomalous samples from the last two years as well as the examination of historic Minfile showings in the northern part of the claim group.
At American Creek, Mountain Boy said it was "encouraged" by the continuing progress of Ascot Resources' proposed restart of the historic Premier mine, which lies just west of the asset.
Assuming completion of a new funding package of around C$200 million, Ascot reported it anticipates delivering the project in line with the most recently guided timeframe and a first gold pour expected in early 2024, noted the firm.
"This important announcement on the neighbouring property should add investor interest to our American Creek project," said Mountain Boy.
"Work on our project demonstrates that it has a similar geological setting to the Premier camp. The property is centered on the historic Mountain Boy silver mine and encompasses several other past-producing mines and prospects," it added.
Mountain Boy has six active projects spanning 650 sq km in the prolific Golden Triangle region of northern British Columbia. Its Telegraph project lies near several large porphyry deposits including Galore Creek (Teck - Newmont), Schaft Creek (Teck - Copper Fox), Big Red (Libero Copper and Gold), Saddle and Saddle North (Newmont), and the operating Red Chris copper-gold mine (Newcrest - Imperial Metals).
Contact the author at giles@proactiveinvestors.com