Higher prices for copper, gold and silver have led to renewed interest from potential joint venture partners and investors. We continue to work toward joint venture funding and/or other sources of financing to continue to advance our various exploration projects.
Telegraph
On-going evaluation of the abundant data compiled from the Telegraph property continues to support the hypothesis that the project is host to several porphyry copper-gold targets that are worthy of immediate follow-up. MTB's initial drill hole into the Dok target yielded an interval including 107 metres of 0.38 per cent copper equivalent within 436 metres of intersected mineralization.
One of the most significant findings from reviewing the data is the interpretation that the two drill holes drilled in 2014 tested the footwall of mineralization, leaving upside exploration potential over 800 metres along the Dok trend. This, in combination with a better understanding of the mineralization, breccias, and intrusive units along the Dok trend, will help refine vectoring for future work.
Beyond the Dok trend, the Telegraph property hosts two other porphyry targets, a skarn zone, a nickel-cobalt bearing ultramafic intrusion and a potential gold-silver epithermal zone. An important objective in the present work, and for the near-term plans, is gaining a better understanding of the geological setting that produced the mineralization that is evident throughout this 344 square kilometer property.
MTB's American Creek property, located 3 kilometres north of the
The
The restart of production at the
BA
The higher silver price has led to a fresh look at the BA project. Drilling by MTB and a previous joint venture partner outlined a substantial zone of silver-zinc-lead mineralization in a VMS setting. Several other VMS occurrences along a 20 km trend await drill testing, with surface samples showing silver values up to a kg/tonne.
Theia
MTB's Theia project is the vicinity of Dolly
The Theia project, although at an earlier stage than the neighbouring projects, is in a similar geological setting and offers considerable exploration potential.
Southmore
MTB's Southmore project is benefiting from the increasing interest in large-scale porphyry copper-gold targets in
Southmore is located 5 km from the
Golden Triangle Update
Financing
As we continue to work toward joint ventures and a longer term financing solution, we are undertaking an equity financing of up to
Flow-through shares at
Hard dollars at
The technical disclosure in this release has been read and approved by
About MTB
MTB has six active projects spanning 580 square kilometres (58,000 hectares) in the prolific
Telegraph is located in the vicinity of 4 world-class porphyry deposits being advanced by major mining companies: Galore (Teck /
On the BA property, 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Several targets with high-grade silver potential remain to be tested. Drilling in October on the George Copper zone encountered copper mineralization, with assays pending.
On the Theia project, work by MTB and previous explorers has outlined a silver bearing mineralized trend 500 metres long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton). Two other zones on the property produced copper values over 5%.
Southmore is in the midst of some of the largest deposits in
On behalf of the Board of Directors:
President & CEO
Contact:
ir@mtb-metals.com
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