Mountain Boy Minerals Ltd (TSX-V:MTB, OTCQB:MBYMF) told investors that recent geophysical work at its Telegraph project in British Columbia's 'Golden Triangle' has underscored the potential for a district-scale porphyry system.
Two "compelling" anomalies were identified, which correlate well with geological and geophysical results in a part of the 289 square kilometere (sq km) property that has seen minimal prior work.
The latest so-called Volterra 3D Induced Polarization (3DIP) survey expanded on work undertaken in 2012 and comprised 19.6 line kilometres (km) and measured the resistivity and chargeability of the subsurface rocks.
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A magnetotelluric (MT) survey was also conducted alongside the recent work, which measured the properties of the rocks at greater depth.
"The geophysical anomalies are consistent with the district-scale picture that is emerging of a large area prospective for hosting porphyry systems, with possibly multiple mineralized centers. The recent geophysical survey is another step in a systematic approach to exploring this extensive geological system," explained Lawrence Roulston, the CEO of Mountain Boy, in a statement.
He added: "The 2022 field program saw the first comprehensive examination of this extensive geological system. In addition to geophysics, the geological team conducted mapping and sampling in various parts of the property, with several hundred samples in the lab.
"As well as assays, the samples are being examined with other scientific techniques, such as short-wave infrared analysis and geochronology to extract the maximum information. This season's work identified target areas not previously recognized. A thorough review of the recent results, together with the historic results, will prioritize the various targets and outline the next steps."
The Mountain Boy team also spent several weeks examining an extensive area of gossan referred to as the Strata Mountain Gossan to the northeast of the Dok target, which extends for over 8 km.
Meanwhile, the so-called Chuckster occurrence, which sits between the Dok and Yeti targets, was discovered by provincial government mapping in 1964. A grab sample taken by the government geologist assayed 0.29% copper and 136 grams per ton (g/t) gold.
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 writer at giles@proactiveinvestors.com