MTB Metals (TSX-V:MTB, OTCQB:MBYMF) announced that assay results from the first hole of its inaugural drill program at the Telegraph copper-gold project in British Columbia’s Golden Triangle have returned grade and thickness comparable to those found in mines across the province.
Four drill holes totalling 2,142 meters (m) completed in 2023 targeted the Dok Trend, one of several copper-gold mineralized areas of the project, MTB Metals (TSX-V:MTB, OTCQB:MBYMF) noted.
The company said drill hole DK2023-01 intersected 107m of 0.38% copper equivalent within 436m of mineralization.
“Even at this early stage of exploration, we have confirmed a mineralized porphyry that carries significant grades of copper and gold,” MTB Metals (TSX-V:MTB, OTCQB:MBYMF) CEO Lawrence Roulston said in a statement.
“Those initial grades, and the scale of the mineralized footprint, provide strong encouragement that Telegraph has potential in line with the other porphyry deposits in the area. We may well look back on this hole as the 'discovery hole' of a new mine."
John Ryan, a member of MTB Metals’ Technical Advisory Board, noted the results were “extremely encouraging”.
“The grade and width of the intercepts in DK-2023-01 is comparable to drill holes from active BC Alkalic Porphyry mines and is a great indication that the Dok system has considerable potential within its multi-kilometre footprint,” Ryan said.
“The fact that this was the first hole by the MTB Metals team speaks to the success of the team's systematic approach."
Assay results are pending from the three other drill holes, MTB Metals said.
MTB Metals has six active projects spanning 580 square kilometres (58,000 hectares) in the prolific Golden Triangle of northern British Columbia.