Mountain Boy Minerals Ltd.: Drilling Continues to Extend High Grade Gold Zone Beneath Historic Dunwell Mine Workings STEWART, BRITISH COLUMBIA--(Marketwire - July 29, 2010) - Mountain Boy Minerals Ltd. ("Mountain Boy" or the "Company") (TSX VENTURE:MTB) reports that recent drilling at its wholly owned Dunwell Gold Mine continues to expand the previously announced discovery zone. Assay results have been received for the commencement of the 2nd phase drill program. The primary purpose of the 2010 drill program has been to test the potential for depth extensions to the known Dunwell gold-silver mineralization. The Dunwell Gold Mine is a former producing gold mine, located 7.5 kilometres northeast of Stewart BC, 2 kilometres off paved highway 37A. The property has excellent infrastructure being at a low elevation allowing for exploration year round. To date, a total of 8 holes have been completed on the 2nd phase drill program, from 2 panels located 40 and 60 metres north of the previously announced discovery holes. Drilling is testing approximately 150 metres below the lowest underground workings. Significant results from one of the holes are as follows: -------------------------------------------------------------------------- From To Length DDH No. (m) (m) (m) Au g/t Ag g/t Pb % Zn % Cu % -------------------------------------------------------------------------- D4-10-15 208.84 213.14 4.3 15.62 42.0 0.04 0.40 1.44 -------------------------------------------------------------------------- Core intersection widths are interpreted as being true width given the dip of the mineralized zone. To date, the new zone of mineralization has been intersected over a length of 250 metres, a depth of 100 metres over widths up to 10 metres. Mineralization is open in all directions from the new drilling as well as on strike from the upper existing workings. Breccia zones and quartz-sulphide veins are developed en echelon and 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. Surface exploration indicates that another zone of high grade mineralization is present on the property. Float sampling in a creek bed yielded values ranging from 1.05 to 29.22 g/t gold, 1.2 to 313 g/t silver, 0.03 to 0.215% copper, 0.01 to 5.25 lead and 0.09 to 12.24 zinc. Further exploration consisting of soil sampling and prospecting will be conducted in order to locate the source of this float. Mineralization consists of lenses and stringers of pyrite, galena, sphalerite and tetrahedrite with minor chalcopyrite, native silver and argentite in a gangue of quartz and minor calcite. Locally, the Dunwell vein contains up to 75% sulphides. The mineralization is more intense where the veins are intersected by fractures of the West fault zone. Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of exploration on behalf of the company. All assaying is being carried out by Assayers Canada in their Vancouver facilities. About Mountain Boy Minerals 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 944,000 ounces gold in the measured and indicated category and 1,400,000 ounces in the inferred category. The Company is also exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on 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." FOR FURTHER INFORMATION PLEASE CONTACT: Mountain Boy Minerals Ltd. Investor Relations 604-681-0710 or Mountain Boy Minerals Ltd. Ed Kruchkowski 250-636-9232 www.mountainboyminerals.ca
Thursday, July 29, 2010
MTB.V ALERT
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