Business & Finance
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Business and Finance
Wed, June 30, 2010 Mountain Boy Minerals Ltd.: Drilling Extends High Grade Gold Zone Beneath Historic Dunwell Mine Workings
STEWART, BRITISH COLUMBIA--(Marketwire - June 30, 2010) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) ("Mountain Boy" or the "Company") reports that ongoing drilling at its wholly owned Dunwell Gold Mine continues to intersect the previously announced discovery zone. Assay results have been received for the first 4 holes of the 2nd phase drill program.
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 primary purpose of the 2010 drill program is to test the potential for depth extensions to the known Dunwell gold-silver mineralization.
To date, a total of 6 holes have been completed on the 2nd phase drill program, on a panel 40 metres north of the previously announced discovery holes. Significant results from the 2nd phase drill program received to date are as follows:
| DDH No. | From (m) | To (m) | Length (m) | Au g/t | Ag g/t | Pb % | Zn % | Cu % |
| D4-10-16 | 218.60 | 230.34 | 11.74 | 3.13 | 48.43 | 0.35 | 3.07 | 0.07 |
| including | 221.65 | 223.78 | 2.13 | 8.08 | 66.23 | 0.47 | 4.09 | 0.124 |
| including | 225.91 | 227.74 | 1.83 | 6.50 | 49.75 | 0.48 | 6.9 | 0.085 |
| D4-10-17 | 216.77 | 230.79 | 14.02 | 3.62 | 33.79 | 0.21 | 1.96 | 0.05 |
| including | 220.27 | 222.71 | 2.44 | 5.91 | 63.86 | 0.40 | 2.82 | 0.12 |
| including | 228.66 | 230.18 | 1.52 | 17.49 | 72.30 | 0.1 | 6.58 | 0.069 |
| D4-10-18 | 219.97 | 220.73 | 0.76 | 1.16 | 28.3 | 0.21 | 1.90 | 0.038 |
| and | 224.39 | 225.0 | 0.61 | 1.80 | 39.1 | 0.23 | 0.63 | 0.058 |
| D4-10-19 | 231.40 | 232.47 | 1.07 | 8.06 | 68.4 | 0.20 | 4.21 | 0.167 |
Previously announced results from the 1st phase drill program include:
| DDH No. | From (m) | To (m) | Length (m) | Au g/t | Ag g/t | Pb % | Zn % | Cu % |
| D4-10-6 | 208.84 | 211.89 | 3.04 | 3.75 | 55.87 | 0.21 | 3.87 | 0.17 |
| D4-10-7 | 207.62 | 208.38 | 0.76 | 2.23 | 48.78 | 0.24 | 4.63 | 0.06 |
| D4-10-9 | 215.55 | 222.26 | 6.71 | 14.27 | 37.81 | 0.25 | 0.63 | 0.02 |
| D4-10-10 | 216.77 | 221.95 | 5.18 | 5.31 | 62.4 | 0.52 | 0.80 | 0.03 |
| D4-10-11 | 217.07 | 222.93 | 5.85 | 4.74 | 55.88 | 0.09 | 0.72 | 0.02 |
| D4-10-12 | 218.35 | 225 | 6.64 | 7.68 | 37.40 | 0.330 | 0.90 | 0.02 |
The Dunwell 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 secondary veins. The 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.
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 per cent sulphides. The mineralization is more intense where the veins are intersected by fractures of the West fault zone.
Core intersection widths are interpreted as being true width given the dip of the mineralized 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 in their Stewart area claims.
ON BEHALF OF THE BOARD
"Ed Kruchkowski"
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."
