Mountain Boy Minerals Ltd. (TSX VENTURE: MTB) announces that Great
Bear Resources Ltd. ("Great Bear") (TSX VENTURE: GBR) has released
further exploration results from the BA project in the Eskay Creek
mining district near Stewart, northern British Columbia. All zones
continue to be expanded through sequential step out drilling. The
drilled strike length of the Main zone has been extended to 800+
metres, while the Stockwork zone has been extended to 300+ metres.
Prospecting at the George Copper claims on the BA property has
resulted in discovery of multiple gold bearing structures
associated with a higher temperature phase of the VMS system that
is developed at BA. A chip sample graded 9.09 g/t gold over one
metre, with a grab sample from this zone returning a value of 38.50
g/t gold. This discovery will be treated as a separate priority
drill target in 2011.
Main Zone Drill Results - Edges Tested as Main Zone Expanded
The on strike extensions of the Main zone were targeted during
the second half of the 2010 exploration season. Several higher
grade intercepts were discovered within a larger broadly
mineralized massive sulfide system, defining four open mineralized
trends. Results are summarized in the table below.
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Total Interval Interval Interval
BA Margin Length From To Length Silver Lead Zinc
Drill Hole Tested (m) (m) (m) (m) g/t % %
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BA-2010-149 North 117.21 45.71 75.59 29.88 32.8 0.20 0.73
including 66.45 72.54 6.09 102.5 0.67 2.75
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BA-2010-157 North 127.1 16.30 20.42 4.12 47.2 0.07 0.10
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BA-2010-138 West 388.02 192.94 308.77 115.83 11.0 0.07 0.26
including 220.37 226.56 6.19 38.6 0.60 0.30
including 290.48 293.53 3.05 33.0 0.14 2.02
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BA-2010-153 West 185.02 3.42 99.67 96.25 34.1 0.26 0.73
including 38.71 72.24 33.53 74.5 0.58 1.77
above includes 56.01 66.14 10.13 165.5 0.50 2.75
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BA-2010-154 West 120.7 38.40 98.06 59.66 9.2 0.06 0.25
including 50.60 53.56 2.96 38.3 0.17 2.15
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BA-2010-155 West 127.1 53.95 79.05 25.10 80.6 0.21 1.04
including 57.00 61.20 4.20 207.9 0.31 0.69
including 66.10 75.30 9.20 90.1 0.33 2.09
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BA-2010-122 Southwest 120.12 43.89 74.37 30.48 27.9 0.45 0.80
including 43.89 46.94 3.05 132.0 2.78 1.55
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BA-2010-123 Southwest 173.13 3.59 87.78 84.19 11.5 0.14 0.69
including 18.4 21.4 3.00 44.0 0.38 2.76
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BA-2010-127 Southwest 167.03 39.01 54.25 15.24 31.3 0.16 0.54
including 48.16 52.28 4.12 57.9 0.18 0.59
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BA-2010-128 Southwest 105.46 44.50 62.79 18.29 28.1 0.24 0.80
including 53.64 58.15 4.51 56.6 0.41 0.91
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BA-2010-130 Southwest 154.54 2.56 78.33 75.77 14.5 0.07 0.55
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BA-2010-131 Southwest 160.63 2.13 66.14 64.01 19.0 0.13 0.69
including 11.28 14.48 3.20 83.0 0.28 2.70
including 60.05 63.09 3.04 66.0 0.09 0.32
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BA-2010-132 Southwest 212.50 1.44 63.09 61.65 12.5 0.08 0.61
including 60.05 63.09 3.04 35.0 0.02 0.41
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BA-2010-133 Southwest 191.16 41.60 69.19 27.59 21.6 0.13 0.67
including 44.81 47.85 3.04 52.0 0.39 2.44
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BA-2010-121 South 212.45 47.85 93.57 45.72 21.6 0.13 0.54
including 69.19 75.29 6.10 34.6 0.09 0.62
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BA-2010-140 South 173.43 127.71 130.76 3.04 13.0 0.05 0.27
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BA-2010-141 South 123.75 20.12 41.45 21.33 18.0 0.08 0.38
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BA-2010-142 South 126.80 9.07 47.55 38.48 16.5 0.08 0.49
including 41.45 44.50 3.05 72.0 0.05 0.21
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BA-2010-146 South 84.43 16.43 66.14 49.71 14.1 0.09 0.48
including 60.05 63.09 3.04 51.0 0.02 0.56
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BA-2010-152 Main 151.20 0.37 105.46 105.09 13.5 0.10 0.46
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including 14.02 17.07 3.05 54.3 0.27 0.52
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including 57.60 67.90 10.3 41.8 0.15 1.91
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BA-2010-139 East 200.56 - - - No Significant
Intercepts
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These results indicate that higher grade silver-lead-zinc
mineralized trends remain open to the north, northwest and
southeast of the Main zone. The boundaries of the Main zone
continue to be expanded by drilling. As drilled, the strike length
measures 800+ metres. Further results from the north, west and
southeast boundaries of the Main zone are pending.
The highest grade mineralization in the Main zone occurs near
northeast and northwest trending high angle structures, where they
intersect an intrusive/sedimentary contact. These structures remain
open along strike and are considered priority exploration targets.
A detailed description of mineralization controls is provided in
the NI 43-101 compliant technical report covering the BA project
which is posted on the Great Bear web site at
www.greatbearresources.ca.
North Extension - Stockwork Zone Expanded
Drilling in the Stockwork zone, located 300 metres north Main
zone, has extended the drill defined strike length of silver-rich
VMS mineralization to 300+ metres. The most recent drill results
indicate that it remains open in all directions. Results are
summarized in the table below (please refer to the September 30
Great Bear news release for previously reported Stockwork zone
results).
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North Total Interval Interval Interval
BA Extension Length From To Length Silver Lead Zinc
Drill Hole Area (m) (m) (m) (m) g/t % %
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BA-2010-118 Stockwork 208.84 54.50 59.44 4.94 12.6 0.22 0.70
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BA-2010-119 Stockwork 200.25 166.73 175.87 9.14 98.9 0.12 0.78
including 169.77 172.93 3.16 252.0 0.22 1.14
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BA-2010-120 Stockwork 151.49 53.15 57.00 3.85 42.0 0.28 0.50
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BA-2010-124 Stockwork 254.21 159.03 174.96 15.93 35.3 0.15 1.12
including 162.76 165.81 3.05 69.0 0.28 1.57
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BA-2010-125 Stockwork 244.76 156.36 165.51 9.15 10.0 0.05 0.63
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BA-2010-126 Stockwork 237.20 154.84 185.32 30.48 14.3 0.21 1.16
including 157.89 163.98 6.09 34.5 0.30 1.96
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BA-2010-137 Stockwork 315.17 238.97 278.59 39.62 13.0 0.17 0.15
including 238.97 242.01 3.04 41.0 0.55 0.36
including 273.54 278.59 5.05 42.0 0.42 0.35
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Bod Zone Tested - Reconnaissance Drilling Supports Future
Work
A series of six drill holes were completed in the Bod zone
target, located approximately 900 metres to the northeast of the
Stockwork zone. Results include several zones of silver rich VMS
mineralization within a wide zone of geochemical alteration.
Mineralization increases in intensity and width to the south.
Grades and interval widths are similar to previously tested targets
adjacent to the Main and Stockwork zones.
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Total Interval Interval Interval
Bod Zone Length From To Length Silver Lead Zinc
Drill Hole (m) (m) (m) (m) g/t % %
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BA-2010-143 236.22 135.64 156.97 21.33 12.0 0.14 0.56
including 144.78 147.83 3.05 44.0 0.51 1.44
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BA-2010-144 190.20 89.61 104.85 15.24 11.8 0.12 0.71
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BA-2010-145 87.78 - - - No Significant
Intercepts
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BA-2010-148 171.91 - - - No Significant
Intercepts
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BA-2010-150 272.49 2.39 4.27 1.88 83.0 0.69 1.46
101.40 105.60 4.20 12.5 0.02 0.14
109.90 114.00 4.10 12.2 0.18 1.15
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BA-2010-156 232.56 - - - No Significant
Intercepts
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Exploration in the Bod area is early stage and will be followed
up by additional geological mapping, trenching and drill target
identification during the 2011 exploration season.
Drill results returned to date from the BA project indicate the
Main, Stockwork and Bod zones form part of a large VMS mineralized
system with an apparent north-south strike length of over 2
kilometres. Over 1,100 metres of continuous silver-lead-zinc
mineralization has been drill defined in the Main and Stockwork
zones. Testing the continuity of higher grade mineralization
between the Bod, Stockwork and Main zones will be a priority of the
upcoming 2011 exploration season.
The George Copper Claims - High Grade Gold-Copper System
Identified
The George Copper, Grand View and Helena showings are located 5
kilometres west of the Stockwork zone at BA. The George Copper
claims are contiguous with the other BA claims, and cover a land
position to the northwest of the Main and Stockwork zones.
Reconnaissance geological mapping by Great Bear in summer 2010
identified an approximately 700 metre by 500 metre area of intense
hydrothermal alteration, structurally controlled mineralization,
and both oxide copper and sulfide mineralization at surface. This
occurs in the vicinity of the previously identified George Copper,
Grand View and Helena showings. Historical exploration and
development at the George Copper claims includes excavation of a 35
metre adit into a zone of disseminated copper-silver-gold
mineralization, which appears to comprise a BA-type
stratigraphically controlled bulk-tonnage VMS target, and over 2400
metres of drilling into four known gold-bearing vein systems. The
NI 43-101 compliant technical report produced for the BA property
in September 2010 indicates that this historic drilling was poorly
placed to determine the continuity of gold mineralization.
Assays of all 19 in place bedrock hand samples taken over the
mapped area range from 0.007 g/t gold and 0.0019% copper to 38.5
g/t gold and 3.86% copper, with an average of 3.03 g/t gold and
0.63% copper. The highest grade gold results were returned from a
one metre bedrock chip sample taken across a gold-bearing
mineralized structure which returned values of 9.09 g/t gold, with
a hand sample from the centre of this zone returning a value of
38.50 g/t gold. The newly identified gold and copper rich
mineralized zone is open in all directions.
These results define a gold enriched high priority drill target
within the broad VMS mineralized system that occurs at the BA
property. The George Copper claims will be a significant focus of
exploration during 2011.
The BA Project
As previously announced, Mountain Boy has entered into an Option
and Joint Venture Agreement with Great Bear Resources Ltd. (TSX
VENTURE: GBR) whereby Great Bear can earn a 50% interest in the BA
project by spending $5.5M over four years, and can earn an
additional 20% interest, for a total of 70%, by completing a
Positive Feasibility Study.
The Main zone at BA hosts a silver rich volcanogenic massive
sulphide (VMS) system that has been drill confirmed for 800 metres
of mineralized strike and down dip for 400 metres. 62 of 90
historic drill holes into the Main zone have returned in excess of
68 g/t silver over drill indicated widths of 3 to 134 metres with
significant associated lead - zinc mineralization. Great Bear has
mapped silver rich VMS mineralization over a strike length in
excess of 2,000 metres from the Main zone to the Bod zone. Most
drill holes completed by Great Bear have been sited to determine
true mineralized thicknesses. However, further modeling is required
to define the total mineralized geometry, which contains multiple
stacked mineralized horizons with more than one orientation, and
remains open to expansion.
E. Kruchkowski, P.Geo., a qualified person under National
Instrument 43-101, has reviewed this release on behalf of the
Company.
About Mountain Boy Minerals Ltd.
Mountain Boy Minerals Ltd. is a Canadian based mineral
exploration company with diverse property and resource holdings
around the Stewart region in British Columbia's golden triangle. It
owns 30% of the Silver Coin project, a gold-silver-base metals
project with a 43-101 defined 835,700 ounces gold in the measured
and indicated category and 655,200 ounces in the inferred category.
The Company is also is exploring silver-base metals on its American
Creek and Bear Valley properties as well as copper-gold in their
Stewart area claims.
ON BEHALF OF THE BOARD
Ed Kruchkowski, Director
"This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements."
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Mountain Boy Minerals Ltd. Investor Relations
604-681-0710 Mountain Boy Minerals Ltd. Ed Kruchkowski 250-636-9232
www.mountainboyminerals.ca
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