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Mining Stock News: Drilling On MTB's (TSXV: MTB) George Copper Project In BC's Golden Triangle Intersects Copper In Two Identified Horizons In All Three Holes


Vancouver, British Columbia - October 27, 2023 (Newsfile Corp.) ( Newswire) MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) ("MTB" or the "Company") announces that the 3 holes recently drilled on the George Copper Project all intersected locally semi-massive sulphide mineralization consisting of pyrite, chalcopyrite and sphalerite. George Copper is part of the MTB's wholly-owned BA Property, located 30 kilometres from Stewart.

The George Copper target is considered a copper-bearing part of an extensive VMS system which extends for at least 10 km across the BA property. Drilling was conducted to satisfy assessment work requirements for the BA property. While these results appear encouraging, the primary focus for MTB remains the Telegraph project, where drilling, geophysics and other work is just being concluded for the season. The first results from Telegraph are expected shortly.

The drilling targeted the historic George Copper occurrence. In 1919, a 35-metre-long adit was completed along the showing. The Consolidated Mining and Smelting Company of Canada drilled 8,162 feet between 1927 and 1929. During the summer of 1976, two short holes were drilled to test the thickness of the stratabound sulphide zone. Both holes intersected disseminated chalcopyrite mineralization. In hole 1976-103, a 4.3 metre intersection of mostly massive pyrite (70% to 90% pyrite) contains a 2.9 metre interval that assayed 0.62% copper and 0.24 ounces per ton silver (Smitheringale, 1976). Table 1 summarizes the historic drilling on the George Copper occurrence.

No further drilling has been conducted on the occurrence until the current 2023 program. Greatly improved infrastructure since the historic drilling has made this prospect worth revisiting. Highway 37A and a high-tension powerline are now within a kilometer of the target area.

Previous work by MTB Metals on the BA property focused on the silver-zinc-lead mineralization in the Barbara zone. Only minimal work has been conducted on the copper-dominant part of the system.

The George Copper prospect is now recognized as a replacement-style VMS occurrence. A nearby example of that style of mineralization is the Granduc deposit, 30 km to the northwest. Granduc was developed by Newmont and operated from 1971-78 and 1981-82.

Several mineralizing episodes and prospective horizons have been identified across the MTB property, including the Barbara, George Copper, Red Top, Heather, MJ and New York occurrences. What has been referred to as the ore equivalent horizon has been traced for over 10 kilometres. The 2023 drilling has successfully intersected VMS mineralization within this horizon.

2023 Drilling

GC2023-01 (Vertical, EOH 154.9m)

Sulphide mineralization was intersected from 46.9 to 55.55 metres, within jasperoidal red beds and carbonate replacement. Mineralization consists of patchy chalcopyrite and banded fine-grained pyrite, magnetite and hematite. The unit is strongly magnetic.

Figure 1: Semi-massive sulphide mineralization in hole GC2023-01

GC2023-02 (-50°→170, EOH 130.7m)

Sulphide mineralization similar to hole GC2023-02 was intersected from 48 to 81 metres. and consists of mineralized red beds (jasperoidal unit), carbonate replacement mineralization. An increase in chalcopyrite mineralization was observed in this second hole. A second mineralized horizon occurs from 92.4 to 124.7 metres, consisting of about 25% fine grained banded pyrite and sphalerite mineralization.

Figure 2: Chalcopyrite in the mineralized red beds at 49.7 m, hole GC2023- 02.

GC2023-03 (-50°→220, EOH 174.9m)

An increase in sulphide mineralization was observed from 70.5 to 103.7 90 metres, with up to 10% fine grained pyrite bands. A second horizon from is noted from 103.7 to 110.8 metres consisting of up to 25% banded sphalerite-pyrite. Interestingly no red beds were intersected in this drill hole.

All three holes were drilled from the same pad and represent about 40 metre step outs along the roughly horizontal mineralized horizon. The mineralized horizon has now been tested to 140 metres from the surface showing at the mouth of the adit.

Figure 3: Looking to the west. Highway 37A is visible in the bottom right of the photo.

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