MTB Metals (TSX-V:MTB, OTCQB:MBYMF) told investors its first drill hole intercepted significant visual copper sulfide mineralization as drilling got underway at its Telegraph copper-gold porphyry project in British Columbia’s Golden Triangle.
In a statement, the company noted that the geological setting of the Telegraph property is similar to four world-class porphyry copper-gold deposits in the same region, all of which are being advanced by major mining companies.
It consolidated a 310 square kilometer land package in 2021 and is now exploring this area for the first time on a consolidated basis.
MTB said the first drill hole from the 2023 program is testing an area with elevated copper in rock and soil samples, mapped potassic and phyllic alteration within a mineralized breccia on surface and a chargeability feature that penetrates to depth.
To date, drilling has intersected over 200 metres of phyllic and potassic alteration with associated mineralization, including an upper oxide and lower sulphide zone. It noted that mineralization occurs within a healed breccia, as disseminations, fracture coatings, veins and veinlets and includes chalcopyrite, pyrite, chalcocite, and malachite.
"This first drill hole supports our hypothesis that the 2014 drilling intersected the margin of a potentially larger porphyry system,” commented MTB vice president of exploration Lucia Theny.
“The diligent work of our exploration team has resulted in generating some exciting targets that now need to be tested with the drill.”
The company said drilling is proceeding on schedule and is anticipated to continue through the end of September.
Numerous targets on the Dok trend with similar geological, geochemical, and geophysical features identified in the first hole have also been identified by the MTB team, it added.
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