Mountain Boy Minerals Ltd (TSX-V:MTB, OTCQB:MBYMF) has reported that the on-going exploration program at its Telegraph copper-gold project has demonstrated highly encouraging initial results.
The work in the early part of the season was directed at two areas that had seen minimal exploration in the past - the Border Zone and the Strata Gossan.
The company said the project continues to indicate the presence of extensive mineralization, and observations and interpretations support a metallogenic model of one or more mineralized porphyry systems.
READ: Mountain Boy Minerals says fieldwork underway to expand copper mineralized zones discovered last year on the Telegraph Copper-Gold Project
The Border Zone straddles what was previously a property line in the midst of the six kilometre Dok Trend, which currently encompasses two porphyry targets. Mapping and sampling in the vicinity of the Border Zone has identified mineralized epithermal-style veining which is interpreted to represent the upper reaches of a porphyry system.
Results of the recent induced polarization (IP) and magnetotellurics (MT) geophysical surveys are pending. Preliminary interpretation has identified a prominent chargeability anomaly underlying the epithermal veining found at surface, the company said.
Samples have been collected for several types of analysis, including assay; short wave infrared spectroscopy (SWIR, which identifies hydrothermal alteration minerals); and geochronology (to identify the ages of the rocks and mineralization).
Mountain Boy said fieldwork will include further mapping, sampling, and ground-truthing the preliminary geophysical data. The SWIR sampling program will also continue with the resulting alteration data helping to vector towards the centre or centres of the extensive 'gossan' identified on surface, which is interpreted to be the upper reaches of a porphyry system.
A gossan is a characteristic 'rusty' zone on surface where weathering of metal-bearing sulphide minerals has generated iron oxides and the resulting orange colour.
The Strata Gossan is located east of the Dok trend. Historic observations identified numerous discrete gossanous areas. As a result of the receding glaciers and the 2022 mapping program, these gossans are now recognized as consisting of one large continuous gossan.
This extensive gossan is interpreted to represent the oxidized cap of the phyllic zone of a large, northeast-trending hydrothermal porphyry system that extends at least eight kilometres, with the Dok area at the southwest end. Copper mineralization has been found in numerous locations within this gossan.
Assays and the interpretation of the SWIR data are expected to help focus on the more prospective areas within the gossan. As a result of the 2022 field program, the company said it has expanded the property to include the northeast extension of the prospective Strata Gossan.
The Yeti Zone is southeast of the Strata Gossan and has some of the best historic gold samples on the property. No work has been conducted during the current field season. However, the Mountain Boy team will cover this area with the same geological mapping, sampling and SWIR sampling programs that have been used on the Dok and Stata Gossan zones.
The company also said it has arranged a flow-through private placement of up to $0.5 million, priced at $0.12 per unit with a two-year warrant at $0.18 to further fund the expanded program at Telegraph with the intention of generating drill targets on the Dok trend, the Strata Gossan, and the Yeti zones.
Vancouver-based Mountain Boy Minerals has six active projects spanning 650 square kilometres in the prolific Golden Triangle of northern British Columbia.
Contact the author at susie@proactiveinvestors.com