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Mountain Boy Minerals (TSX-V: MTB)(OTCQB: MBYMF) CEO Lawrence Roulston on Commencement of Drilling and High Grade Samples at American Creek
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Mountain Boy Minerals, Mr. Lawrence Roulston. Lawrence, how are you this morning?
Lawrence Roulston: I'm great. Gerardo, how are you?
Gerardo Del Real: I am well, thank you very much for asking. Thank you for jumping on the call on such short notice. You had some news today that I thought set the table well for the next major catalyst out of Mountain Boy. You went ahead and reported assay results, and frankly, they're pretty spectacular grades. You collected a sample 285 meters to the north of the high grade zone that included 949 grams per tonne silver. You mentioned in this latest release that the new zone appears to be an extension of the historically mined area and the drill will be turning next week as well. So, a lot to get to, I'll let you provide some context there.
Lawrence Roulston: Yeah, let's say geology of this area is somewhat complex. There's a lot of veins and the main focus historically, and our focus has been on this thing we call the high grade zone. It was historically mined. It was mined a little bit in the 1990s. And in 2006, there were several drill holes. One of which encountered five kilos of silver over five meters. So, very, very significant silver occurrence related to this broad north trending feature. It dips into the mountain and we tried to drill it last year. We couldn't get a pad in where we wanted. We drilled too far away from that high grade zone. We learned a lot from the drilling last year. And in particular, we learned the importance of some crosscutting features that we now realize are important controls on the mineralization within that high-grade zone. So, we've located a drill pad, it's already constructed onsite, ready to go.
We had to get some really expert drill pad builders in, because it's awkward to get in there. Now, if you look at the news release that was issued on July 22nd, there's a ortho photo in there that shows the setting. And it gives a really good idea of the challenges and the opportunities. So, these veins outcrop on an area that's mainly steep cliffs, and we were able to recruit some geologists that were skilled rock climbers, and they scrambled all over these cliffs for the first time really gave a good geological examination of that area. They were able to trace what appears to be the high grade zone for 400 meters to the north of where it was previously drilled at a point 285 meters north. They took three samples. Well, there were a number of samples taken all along here, but in that one area, three of the samples were sent in for rush assay.
And those are the assays that were reported on July 22nd. And as you say, one of them was 949 grams of silver. So, it appears as though we found another one of these areas where the main high grade zone is intersected by one of these east-west trending features and it looks like it may have created another concentration. So, we've already had a drill pad built to give us a test of that zone. So, we now have two drill pads, both targeting on areas where we know we have high grade values either on surface or in the case of the main high grade zone from the underground mining. So, two very exciting drill targets.
Gerardo Del Real: Absolutely. No, I wanted to highlight a couple of things. The first thing I wanted to highlight is I believe the two pads are about 310 meters away from each other. Is that accurate?
Lawrence Roulston: That is correct.
Gerardo Del Real: Excellent. The other thing I wanted to highlight is I mentioned that phenomenal 949 grams per tonne silver sample. You also had a a sub crop sample that had a 2.2% copper assay comeback. Tell me a bit about the mineralization and what you understand of it as far as how it's distributed and then talk to me a bit about the initial drill program. How many holes, how many meters and the approach there?
Lawrence Roulston: Well, first of all, let's touch on the copper. And I wish I could answer your question in a more detail, but at this stage, we don't have a clear vision of the nature of the mineralization and the distribution. But there is certainly a lot of copper in the system. There's a showing actually not far from that new discovery that was actually examined historically as a copper mine. And there were multi percent copper values taken out of that area. And then just a few kilometers south of us is the old Red Cliff mine, which was mined from 1910 to 1912 as a copper mine. And in fact, they built a railroad from the port of Stewart up to the mine in order direct ship the ore from the Red Cliff mine to a smelter at Tacoma.
So, we don't yet understand the distribution and the zonation within this system, but there's definitely a lot of copper along with these spectacular silver grades. And the Red Cliff mine was also drilled and produced some very, very good gold values as well. Now, in terms of where we're going to be drilling this year, we'll start off drilling at the high grade zone. We'll drill a few holes from that pad. And then we're going to move up and drill from the pad at the new discovery zone.
Gerardo Del Real: Excellent. Now, of course, this is an exciting project. It has a ton of merit. I'm looking forward to that program and the results, but you have six active projects that span 604 square kilometers. Is that accurate?
Lawrence Roulston: That is accurate. Yes.
Gerardo Del Real: And so it sounds like a pretty active second half of the year as it relates to news flow and drilling and exploration, right?
Lawrence Roulston: Yes, yes, absolutely. Well, the main focus of course is going to be the American Creek, but these other projects are also very, very, very significant. BA already has 185 drill holes into it. They've outlined up a very significant zone of silver, lead, zinc. And we're looking at an area that might be an expansion of that zone and particular we're looking for areas that have higher grades. One of the intercepts in the BA drill program was actually over a kilo. So, it is capable of generating high grades. So, we're looking to try to get a better understanding on that system as well.
And then really significant is our Telegraph project, which we just put together in May. And we're still in the process of assembling data, interpreting it. A lot of work was done up there over a period of decades, all on little bits and pieces of it. So, for the first time we're pulling all that together, we've consolidated the ground and it looks to us like another big porphyry system, very much like Galore Creek, which is just to the Southwest of us and then the Shop Creek, which is just east of us. So, we're literally in the midst of a number of very significant porphyry copper gold deposits. So, that's also very exciting early stage for us, but we expect a lot of news coming out about the summer as well.
Gerardo Del Real: A lot to like there, Lawrence. Copper's at $4.24 again, gold is above $1,800. Silver looks like it's pushing towards the $26 level. We know that the consolidation in the junior resource space over the past several months has made for some pretty compelling opportunities. And given the news flow that you have the remainder of the year, I’ve got to believe that you're going to attract some attention. I thank you again for your time. Anything else to add to that? I can't wait to chat once the drill program commences and we start seeing some of the results come in.
Lawrence Roulston: Well, I expect a lot of news coming on a regular basis going forward here. So, look forward to keeping you and all your followers up to date.
Gerardo Del Real: Thanks again, Lawrence. Appreciate it.
Lawrence Roulston: Okay. Talk to you soon.