MTB Metals (TSX-V:MTB, OTCQB:MBYMF) Corp has announced initial results from drilling on the Red Cliff gold-copper project in British Columbia’s Golden Triangle region, which included 26 grams per tonne (g/t) gold over 2.0 meters (m) that extends the known mineralized zone at Upper Montrose.
The resource projects developer said the results highlight the potential of the Upper Montrose zone, while work is continuing in order to better understand the distribution of high-grade gold values within the mineralized zone.
MTB noted that copper values were also present in holes 6 through 12, averaging 0.12% and ranging from 0.5 parts per million (ppm) to as high as 2.1% in drill hole MON-2023-09.
The company added that drilling was conducted by Decade Resources, operator of the Red Cliff joint venture, as MTB holds a 35% working interest and a 1.35% net smelter return (NSR) royalty on the Red Cliff project.
Red Cliff was historically mined for copper, while the Lower Montrose Zone, 1,000m to the north, has been explored for gold and saw small-scale production from 1939-41, MTB stated.
MTB and Decade are jointly designing a drill program that involves one deep hole below Upper Montrose/Lower Montrose as well as testing two parallel mineralized zones south of the Red Cliff workings, which have never been tested, according to the company.
MTB Metals (TSX-V:MTB, OTCQB:MBYMF) has six active projects spanning 670 square kilometres in the Golden Triangle of northern British Columbia, with a focus on the Telegraph project. Discussions are now underway leading to joint ventures and/or spinouts of other projects.
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