Gold Terra Resource Corp. press release
Bonanza style silver mineralization to be explored on the MB Silver Property
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Trading Symbol: TSX - MTB
STEWART, BC, March 30 /CNW/ - Mountain Boy Minerals Ltd. announce that an exploration program is planned for the MB property which hosts bonanza style silver mineralization. The MB property is located about 22 kilometres north of Stewart and is road accessible along the American Creek valley. In anticipation of a 2006 field program, the company has assembled all available historical geological reports and has conducted a study of all newspaper accounts for this property from the archives in the local Stewart Museum. Replacement type mineralization on the property consists of at least seven main and four minor replacement zones tested with trenches, previous open cuts, limited diamond drilling and/or adits in the past. The mineralization occurs along wide bodies that are up to 15 meters thick consisting of mainly barite, quartz, jasper, carbonates and sulfides with local native silver. Acanthite (silver sulphide) and stromeyerite (silver-copper sulphide) occur as veinlets, stringers and lenses in the High Grade and No 3 vein, giving rise to bonanza style grades. Between 1929 and 1938, the MB property produced 60 tons of hand cobbed material that yielded an average 546.8 oz/ton silver, 3.2 % copper and 3.15 % lead per ton of ore. In 1940, mining extracted 3.08 tons grading an average 0.09 oz/to gold, 248 oz/ton silver, 2.2 % copper, 4.9 % lead and 5.8 % zinc. In 1999, Mountain Boy Minerals extracted a 13.6 tonne (15 ton) sample from the High Grade vein with results from the smelter indicating a value of 18,854-grams/tonne silver (550 oz/ton), 1.1 % zinc and 2.5 % lead for this shipment. Based on the surface and underground sampling and drilling, an indicated resource totaling 105,555 tonnes grading 0.064 % copper, 0.69 % lead, 2.01 % zinc, 208.9 g/t silver and 13.59 % barite has been outlined in small portions of three different veins. A complete report is filed on Sedar dated June 20, 2003. There is great potential to expand the known resources through drilling. Some highlights from the 2000 trenching on the High Grade vein include the following:
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High Grade Vein
Chip Line No. Width Copper Lead Zinc Silver (Meters) (%) (%) (%) grams/t
1 4.7 2.4 2.07 1.22 7053.0 2 2.6 0.825 0.51 0.20 8892.0
During the 2001 drill program, select grab sampling of a 0.3 meter wide vein of massive argentite and stromeyerite approximately 30 meters south of the above chip lines yielded 88,564 g/T silver while the second sample gave 17,600 g/T silver. It should be noted that the High Grade vein has only been tested along a 100 meter section in the southern portion of the Mountain Boy claim. Based on newspaper accounts, bonanza style silver mineralization apparently occurs several hundred feet (60 meters) south of the above mineralization in the chip lines. In addition the No 3 vein located 100 meters topographically above the High Grade vein has reported grades that contain 0.91 meters of 12,917 g/T, 0.46 meters of 18,361 g/T, 0.91 meters of 13,569 g/t and 1.22 of 6,361 g/T silver over a strike length of 100 meters along this vein. The High Grade vein has been traced over a length of 457 meters and the No 3 vein has been traced over a strike length of 550 meters. The No 3 vein appears to strike into the former Silver Mask claim (present Stromeyerite claim owned by Mountain Boy) which appears to have similar high grade mineralization. On the Silver Mask claim, an article in the June 28, 1929 edition of the Stewart News indicates that a vein 1.83 meters (6 feet) wide was located on this claim. The article describes the vein as similar to the High Grade vein on the Mountain Boy property approximately 500 meters away with "copper sulphides mixed with bunches and stringers of native silver. Four additional veins have been located, some of them with similar high grade ore and some carrying galena in massive form". The company plans to locate these silver showings on the former Silver Mask claim, locate the No 3 vein and test along strike on the High Grade vein. Drilling will be located along any newly discovered mineralization. E. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Companies. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.
Mountain Boy Minerals Ltd is a Canadian based mineral exploration company whose activities are in the Stewart and McKenzie area of BC. It is actively exploring for gold-silver-base metals on the Silver Coin project, silver-base metals on their American Creek properties, copper-gold in the Stewart area, porphyry molybdenum in the Stewart and McKenzie areas and copper-nickel- platinum group metals in the McKenzie area.
ON BEHALF OF THE BOARD
"Ed Kruchkowski"
Ed Kruchkowski, Director
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