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By: AllPennyStocks.com
Events on North American stock markets in the first few days of May left lots of
jagged nerves. With the Greek situation remaining uncertain, traders of all
stripes needed a diversion, a whiff of good news, and, as if on cue, a mining
company out of British Columbia provided it.
Assay results smiled on Mountain Boy Minerals Ltd. (TSX-Venture:MTB), from its
two-year-old exploration program on its BA property in the northwestern part of
B.C.—results that have only recently assayed and never reported. The BA Project,
located 30 kilometres east of the town of Stewart, B.C. is home to
silver-lead-zinc deposits that are part of an exhalative volcanogenic massive
sulfide (VMS) style, base and precious metal mineralization system.
One drill hole returned 59.15 metres, grading 157.96 grams per ton (g/t) silver,
0.30% lead and 0.41% zinc, including 3.05 metres of 520.4 g/t silver, 3.23% lead
and 0.84% zinc. Another drill hole assayed 26.46 metres, grading 219.76 g/t
silver, 1.73% lead and 2.96% zinc.
MTB boasts diverse property and resource holdings around the Stewart region in
B.C.'s golden triangle. It is actively exploring for gold-silver-base metals on
the Silver Coin project, silver-base metals on their American Creek and Bear
Valley properties as well as copper-gold in their Stewart area claims.
Besides being busy in the BA property, MTB also has been successful in the
Silver Coin Project, a mineral resource that has been significantly increased
and improved since the last resource estimate published in March 2006. The new
resource estimate includes 947,988 ounces of gold in the inferred category and
423,002 ounces of gold in the measured and indicated category.
As well, its MB Silver Project, has an indicated resource totaling 105,555
tonnes grading 0.064% Copper, 0. 68% lead, 2.01% Zinc, 208.9 g/t silver and
13.59% barium sulfate. The company’s George Copper project has historical
resources on a small portion of the second horizon totaling (indicated and
inferred) 180,000 tonnes grading 2.0% copper, 17.1 g/t silver and 2.1 g/t gold.
Unclassified resources were reported to be 453,550 tonnes grading 17.1 g/t
silver, 2.0 g/t gold and 2.0% copper.
The news of the recent assays on the BA project boosted volumes of MTB stock to
upwards of half a million shares on May 4. Somehow, the nervousness that gripped
the markets that day kept the price around the 20-cent mark, in the middle of a
52-week trading range that bottomed out at three cents late last May, before
rushing to a peak of 48.5 cents last September. It could be just a matter of
time before the price fulfills the promise shown by MTB’s recent activity in
finding viable gold, silver, lead and copper deposits.
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