Shareholder Updates

Mountain Boy has accomplished an enormous amount over the past year, even if those successes are not yet reflected in the share price. The achievements of 2021 set a solid basis for gains in the new year.

Mountain Boy’s highlights of 2021:

  • We acquired another exciting new project and now rank among the largest property holders in the Golden Triangle – one of the most richly mineralized areas on the planet. Our holdings now encompass six distinct projects, each of which has large-scale discovery potential.
  • Drilling on the American Creek project demonstrated size potential by intersecting the mineralized vein system over a 2 km strike length. Earlier work, including historic mining, shows that the system can produce exceptionally high grades of silver. We are making enormous progress toward understanding this extensive and extremely robust mineralized system.
  • Drilling on the BA silver-lead-zinc project extended the previously drilled zone to 700 metres and provided useful information that will help locate zones with higher grades. Two additional target areas were identified. Incorporating the latest results with previous results outlines a mineralized trend that extends for 12 km, including a copper target that was drilled by Cominco in the 1920s.
  • Work on Theia (silver) and Southmore (copper-gold) generated results that will be very useful in guiding the next phase of work on those projects.
  • The Telegraph property, acquired earlier this year, hosts a large porphyry copper-gold system. The project was languishing because of fragmented ownership and had never been looked at comprehensively. We consolidated the property (through five separate agreements plus staking) after the geological team compiled a wealth of information generated over several decades by tens of companies. The first season of fieldwork supported the previous information and also identified some highly prospective new targets.
  • We expanded our technical and business expertise through the appointment of Dorian L. “Dusty” Nicol to the board of directors.

The geological team is continuing an active exploration program through the winter. The hundreds of samples collected are being evaluated using the best science available to extract useful information. Our internal efforts are augmented with collaborative research projects with British Columbia Geological Survey; Geological Survey of Canada and the Mineral Deposit Research Unit (MDRU) at the University of British Columbia. These initiatives give us the benefit of leading geological experts and access to the most up-to-date analysis tools and techniques. Results of this work will provide information that will help to understand the position in the geological system and to vector toward the hearts of those systems.

We are bringing together a group of experts in porphyry geology who will help with the reinterpretation of the earlier results and guide us in the next phase of exploration on the exciting Telegraph project.

The latest findings are being integrated with earlier results to provide an advanced stage launch pad for next season. We will truly hit the ground running next season.

In the meantime, we will have a lot of news to report:

  • Further assays and other analytical results from the field work.
  • Formal establishment of a technical advisory board.
  • Geological interpretation and modelling of each of the projects.
  • Plans for next year.

In terms of financing, we are working toward creative ways to fund further work on the various projects that minimize dilution.

There were also important developments in the Golden Triangle over the past year which will have a big impact on all of the companies operating there. Several companies have enjoyed big gains in valuations from exploration successes.

In November, Newcrest, one of the largest gold producers, offered to acquire Pretium Resources in a deal that values the miner at C$3.4 billion. Pretium is mining the Brucejack gold deposit. Newcrest has been working in the GT for almost two years after buying a controlling interest in the Red Chris copper-gold mine. They seem to like the GT.

We are operating in an exciting region and are committed to becoming the next big success story in the Golden Triangle. Building on the accomplishments of 2021, we are looking forward to an exciting new year.

The very best wishes for a safe and happy holiday season and for the new year.

From the team at Mountain Boy Minerals.