Dec 22, 2020 | 2020
Vancouver, BC – Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) announces the acquisition, through staking and purchase of another highly prospective property in the Golden Triangle. While remaining solidly focused on the American Creek project, the management and technical team locked up another exceptional opportunity.
This latest acquisition is in line with the Company’s successful strategy of consolidating properties where a fresh look and consolidation of results from previous explorers working small portions of the property point to larger-scale potential.
Theia is Mountain Boy’s fifth project in the Golden Triangle. It adds another 9,028 hectares, bringing the total Golden Triangle holdings to 36,186 hectares (361 square kilometers).
The Theia project is located in the midst of several advanced-stage silver-gold projects. It is 10 km southeast of Ascot’s Red Mountain gold deposit. Ascot announced a US$105 million financing to fund a re-start of mining at its Premier mine (1), with a feasibility study that involves Red Mountain ore being trucked to the Premier mill (2). Theia is immediately north of the Homestake Ridge project of Fury Gold Mines Limited with a Preliminary Economic Assessment announced in April 2020 (3). The proposed access road to Homestake Ridge would come within 9 km of the Theia property. The past producing Dolly Varden silver camp is located 12 km to the south of Theia. Dolly Varden Silver Corp has outlined a high-grade silver resource around the old mines and is continuing to expand the resource (4). Hecla Mining, the largest primary silver producer in the United States, is exploring the Kinskuck Property, a large claim block that abuts the Theia property to the south (5).