Mountain Boy Minerals Ltd. (MTB:CA)

Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company that is publicly traded on the TSX Venture Exchange (TSX-V-MTB). It has diverse property and resource holdings around the Stewart region in British Columbia's Golden Triangle as well as in the Blackwater region. It owns 30% of the Silver Coin project, a gold-silver-base metals project that has a new 43-101 compliant resource calculated. The Company is also exploring for gold at Blackwater as well as for silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on their Stewart area claims.



The Company goal is to develop mineral resources on other properties through efficient exploration and strategic acquisitions. The Company is lead by an experienced management team that is systematically exploring its properties.

Projects

Red Cliff

The Red Cliff property is a former producing copper and gold property originally staked in 1908 located about 20 kilometres north of Stewart, British Columbia in the Skeena Mining Division. It consists of 8 Crown Granted claims along Lydden Creek. The claims extend from just west of American Creek with its confluence with Bear River along Lydden Creek for approximately 3 kilometres. The property is accessible by road approximately 1.5 kilometres from paved highway 37A and is underlain by lithologies of the middle Jurassic Hazelton Group. These rocks host significant precious and base metal deposits in the Stewart Camp including the Silbak Premier, Silver Coin, Sulphurets, Red Mountain and Eskay Creek deposits.
The property contains three main mineralization types identified along a number of different zones during previous exploration activities. Mineralization noted in the zones is as follows:

1. Extremely fine grained pyrite in host rocks that have been pervasively altered to a mixture of sericite and quartz.
2. Veins carrying coarse-grained pyrite and chalcopyrite plus or minus galena and sphalerite plus or minus significant gold values associated with quartz.
3. Intensely silicified rocks, possibly intrusive with strong epidote and chlorite associated with quartz veins containing up to 25 % coarse pyrite and local minor chalcopyrite.

Highlights from historical work for the three main zones on the property include:

The Red Cliff zone contains 2,385 m of underground development on 5 levels from 4 portals over a height of several hundred meters with limited Cu-Au production reported in 1910-12 and 1973. From 1910 -- 12 production from the Redcliff zone amounted to approximately 1,136 tonnes estimated to average 5% Cu. In 1972 some 3,776 tonnes of ore was sent to a local mill. The only reserve estimate reported for the Redcliff Zone was in 1912 showing a total of 18, 900 tonnes averaging 3.19% Cu and 2.86 grams per tonne gold. This estimate was only for broken mineralized material within a stope on one of the levels in the mine. This estimate is historical and is not 43-101 compliant and is used for reference purposes only.



The Montrose zone occurs approximately 1000 meters to the north of the Red Cliff zones and consists of silicified andesite associated with shearing with pyrite, chalcopyrite, galena and sphalerite mineralization in quartz veins and stockworks. This zone has been developed along al short adit in a very steep part of the property. Initial sampling, conducted after discovery, above the portal area to one of the adits gave 198 g/tonne Au across 2.59 meters. During 1939-41 a total of 59 tonnes mined averaged 84.4 grams/tonne Au, 101 g/tonne Ag, 0.91% Cu, 3.5% Pb and 4.41 % Zn. In 1979 surface sampling gave 19.3 grams/tonne Au across 2.43 meters while 1987 surface sampling returned 7.93 grams/tonne Au across 3.81 meters. Recent drill intercepts include 9.3 grams/tonne Au across 1.71 meters.
Click here for more information

Dunwell

The 450 hectare property is located eight kilometres north of the town of Stewart BC, on the east side of the paved Highway 37A in the Skeena Mining Division. The principal Dunwell workings are accessible by four wheel drive vehicles with travel to the remaining portions of the property by foot. Exploration is possible year round with drilling using existing roads and trails.



The Dunwell property is underlain by argillites, graphitic black shales, dacitic volcanics, and possibly dioritic intrusives. Strong shear zones are developed in the graphitic rocks. A number of oblique trending intensely silicified and quartz -veined areas are present some of which are mineralized. Narrow lamprophyre dykes which are altered to a mixture of quartz, dyke material; chlorite and sericitic material are often associated with irregular masses of pyrite, galena, and sphalerite carrying precious metal values. Wide dykes, which are altered completely, are slightly silicified and pyritic. Altered dykes have been found in close proximity to all the mineralized concentrations and showings.



The primary mineralization of interest is gold-silver bearing quartz veins and breccias associated with variable amounts of galena, pyrite, pyrrhotite, chalcopyrite, tetrahedrite and sphalerite. Massive sulphides occur in these quartz structures and veins along the wall of light green weakly mineralized dukes that strike parallel to the nearby north-westerly trending Portland Canal Dyke Swarm. Native silver, electrum, and argentite have been known to occur at or near the surface within the vein structures. The deposit consists primarily of two veins, the Sunbeam vein to the north and the Dunwell (number 23) vein to the south, with a number of other less important veins. The veins are developed en echelon adjacent to a major north striking, west dipping fault zone (West fault). The veins are commonly situated along one or both sides of parallel lamprophyre dykes which are up to 0.6 metres wide.



The mine was developed by 4 primary adits from the 520 m the No. 1 level ranging down to 381 m at the No. 4 level. Addition ore was extracted accessing a No. 4 sub-level down to 361 m using the No. 4 level.
Click here for more information

Blackwater

Mountain Boy Minerals Ltd. ("Mountain Boy") and Decade Resources Ltd ("Decade") have acquired 3 separate blocks of claims through staking in early February in the Blackwater region of BC with one block adjoining the north end of the property owned by Richfield Ventures Ltd.. The companies acquired a total of 37,296.28 ha in 80 claims. The properties are readily accessible along a well developed network of established forestry roads in the area.



At Blackwater, disseminated gold-silver mineralization and high-grade gold in shear-hosted veins is reported as being hosted in Jurassic aged Hazelton Group rhyolites. Richfield has recently announced exceptional drill results from its Blackwater Gold Project, including 205m of 2.04 g/t Au (Reported in Stockwatch, January 25, 2011), and 145 metres of 2.70 g/t Au. (Reported in Stockwatch, March 15, 2011). At a base case cut-off grade of 0.40 g/t Au, the estimated global Indicated resource is 53.46 million tonnes at an average grade of 1.06 g/t Au containing 1.83 million ounces gold, with an additional 75.45 million tonnes at an average grade of 0.96 g/t Au containing 2.34 million ounces gold in the Inferred category.



Mineralization appears to be associated with intensely altered volcanics related to north south trending structures.



The companies have plans to explore the different claim blocks as soon as weather conditions allow. The work will include geochemical surveys and geological investigation.