Vancouver, B.C. – Mountain Boy Minerals Ltd (“Mountain Boy”) is pleased to report that it recently attended the Kamloops Exploration Group (“KEG”) meeting and will be attending the Oilfields Minerals & Markets Forum (“OMMF”) in Houston, Texas. Mr. Lawrence Roulston and Mr. Rene Bernard, Directors of Mountain Boy, attended the KEG meeting and Mr. Roulston will be attending the OMMF conference from May 6th to 8th, 2018.
Due to the importance of new sources of the mineral barite to oilfield service companies, the OMMF organizers added a session on emerging barite sources and invited Mountain Boy to present the details of the barite found on its Surprise Creek project.
The Surprise Creek property covers an area of approximately 12 km of known VMS (“Volcanogenic Massive Sulphide”) style mineralization generally hosting copper, zinc and lead, with some gold and silver. Folding within the Surprise Creek claims has resulted in repeated sections of prospective VMS horizons. Anticlinal structures have resulted in the prospective VMS horizon being present along both the west and the east sides of the Surprise Creek claims. There are at least six separate VMS boulder trains or showings on the Surprise Creek property. The Company website at www.mountainboyminerals.ca shows the location of the VMS style of mineralization recent drill results.
Abundant barite is common on the Surprise Creek property. It is a common constituent of Kuroko style VMS systems, forming layers above the base metal-silver mineralization. To date only 4 short drill holes have tested the barite rich portion of the Ataman zone at the headwaters of Surprise Creek.
The barite in itself is significant as the Company has demonstrated that a high quality product can be achieved through floatation with significant base and precious metal recovery in tests completed by SGS Canada Inc dated September 28, 2017. Barite is used by the oil and gas industry as a weighing agent in drilling muds and there is a large production shortage in North America. With increased oil and gas prices drilling activities have increased and demand and prices for barite are rising. With the deep water port of Stewart, B.C. within half an hour of trucking from the deposit, Mountain Boy could compete on the international markets. Barite is currently selling from US$120 to US$180 per ton depending on the location, and would add considerable value to the economic potential of a silver/base metal operation at Surprise Creek. The world barite market is estimated to steadily increase from US $2.2 billion in 2016 to US$4.1 billion by 2024 according to Global Market Insights, Inc. of Delaware, USA.
Further information on the OMMF can be found on its webpage at http://imformed.com/get-imformed/forums/oilfield-houston-2018/programme/
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 has reviewed the geological sections of this news release.
About Mountain Boy Minerals Ltd.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with a diverse property portfolio within the Stewart region located in the very prolific area of British Columbia’s Golden Triangle. It owns 20% of the Silver Coin project, a gold-silver-base metals project that has a NI43-101 compliant resource estimate. Mountain Boy is also exploring silver-base metals on its American Creek and Bear Valley properties, as well as copper-gold on its Stewart area claims. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca. For investor information please call 604-687-3520.
ON BEHALF OF THE BOARD OF MOUNTAIN BOY MINERALS LTD.
Mark T. Brown CPA, CA
Chief Executive Officer
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.
This news release contains forward–looking statements related to the anticipated closing of the royalty purchase. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including risks related to receipt of required regulatory approval and general transaction closing risk. Actual results may differ materially from those currently anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities laws.