MTB Metals (TSX-V:MTB, OTCQB:MBYMF) CEO Lawrence Roulston told shareholders that fieldwork will get underway at the DOK trend on its Telegraph porphyry copper-gold project in June.
In a shareholder letter, Roulston outlined the ongoing development at the British Columbia-located project, including sample collection and analysis on the prospective trend.
An induced polarization (IP) geophysical survey last summer highlighted a chargeability target which aligns with both geochemistry and geology, the CEO noted.
“The overlapping signatures generated by each of those analysis are characteristic of porphyry deposits and makes this area a very compelling target that requires testing at depth,” Roulston wrote. “To have this set of overlapping indicators in the same area as four world-class porphyry deposits is extremely exciting.”
Roulston added that, despite a lack of hard news from the company, work is heating up at the project ahead of its drill program.
“The market for exploration companies continues to be difficult. In spite of the market, we continue to attract interest from investors and from the larger mining companies. The large-scale potential of Telegraph makes it stand out among exploration projects.”
The CEO also compared MTB with another Golden Triangle story: GT Gold, which was acquired by Newmont in a deal valued at $420 million, or 40 times the current value of MTB.
Roulston also highlighted a “growing interest” in large-scale copper prospects among the majors.
The full shareholder letter is available here.
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