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MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9U) ("MTB" or the "Company") announces that drilling on the Telegraph porphyry project is anticipated to start around August 19. Currently pads are being built and the drills are being mobilized. The first phase of drilling will be testing three areas along 2.5 kilometres of the identified Dok trend.
The geological setting of the Telegraph property is similar to four world-class porphyry copper-gold deposits in the same region, all of which are being advanced by major mining companies. MTB consolidated a 310 square kilometer land package in 2021 and is now exploring this area for the first time on a consolidated basis.
Two holes drilled in 2014 confirmed the presence of a porphyry copper-gold system at Dok, but the holes are interpreted to be peripheral to the heart of the system. For the last 2 years the MTB geological team has been compiling the historic data and systematically exploring the various identified targets with geological alteration and structural mapping, prospecting, shortwave infrared spectroscopy (SWIR), rock sampling, spectral analysis and soil geochemistry. A Volterra 3D Induced Polarization (3DIP) ground survey was also conducted in 2022 over the Red Creek area within the Dok Trend. By evaluating the SWIR data, trace element geochemistry and identified alteration, the geological team is building a porphyry model for the area. Multiple porphyry targets have been identified within the broad zone of alteration identified in the area, including the Dok trend and Strata Mountain. This initial drill program will involve 2,000 to 3,000 meters of drilling from 3 drill pads, with the details of the program evolving based on observations as the drilling progresses.
2023 Field Program and Target Selection
For the 2023 field season, exploration has been focussed primarily on the Dok trend in preparation for drilling.
Field work has consisted of further geological alteration and structural mapping, spectral analysis, shortwave infrared spectroscopy (SWIR), assay rock sampling, and soil geochemistry. A portable X-Ray Fluorescence Spectrometer (pXRF) is on site which allows the team to instantaneously analyze the soil and rock samples without having to wait for assay results from the lab. Over 650 soil samples have been collected of which assay results have been received for the first 275 samples. The assay results for copper from the lab are consistently about 30% higher than the pXRF results, providing added confidence in the identified pXRF soil anomalies.
Numerous copper and gold in soil anomalies occur within Dok trend including a 1.2 km x 1 km anomaly, which includes 175 soil samples. The average concentration of copper in soils within this anomaly is 376 ppm, with a high of 3,860 ppm Cu and a low of 51 ppm. Values of up to 0.36 ppm gold also occur within this area.
Analysis of trace element geochemistry has demonstrated diagnostic zonation of metals comparable with current porphyry models. Additionally, SWIR data has identified alteration patterns, including white mica with high white mica crystallinity, a proxy for hotter temperatures and subsequently the centre of a porphyry hydrothermal system.
Figure 1- Current and Historic Soil Geochemistry for Copper on the Dok Trend
Currently, three styles of copper and gold mineralization have been identified. They include the following,
- High grade copper mineralization hosted within quartz and carbonate veins interpreted to be peripheral to a porphyry system.
- Disseminated and stockwork copper mineralization occurring with magnetite, k-feldspar, epidote and chlorite interpreted to be within the upper reaches of a porphyry system.
- Disseminated and stockwork copper mineralization with k-feldspar, biotite and sericite, interpreted to be within the hotter (deeper) parts of a porphyry system.
Targets along the Dok trend have been ranked based on their IP and 3DIP chargeability responses from the 2012 and 2022 ground surveys, the magnetic response from the 2012 airborne mag survey, soil geochemistry results, pXRF results, SWIR results and field observations from ground truthing of identified anomalies.
Lucia Theny, Vice President Exploration, stated: "The overlapping of multiple geological, geophysical and geochemical indicators is providing good confidence in our target selection and the team is excited to be able to test their hypothesis with the drill."
Figure 2 - Proposed Drill Holes for the Dok Trend on top of Copper Soil Geochemistry and Induced Polarization Chargeability
Lawrence Roulston, CEO, noted: "The geological team over the past two months carried out mapping, sampling and spectral analysis which confirmed the earlier information and filled in some gaps. These results provided a firm basis for selection of the initial drill targets. The team has worked methodically to advance the understanding of this huge geological system. This initial drill program will involve 2,000 to 3,000 meters of drilling from 3 drill pads, with the details of the program evolving based on observations as the drilling progresses. Use of the pXRF on the drill core will support the geological team's observations."
About MTB
MTB has six active projects spanning 670 square kilometres (67,587 hectares) in the prolific Golden Triangle of northern British Columbia. With the focus on the Telegraph project, discussions are now underway leading to joint ventures and/or spinouts of other projects.
- Telegraph is located in the vicinity of 4 world-class porphyry deposits being advanced by major mining companies: Galore (Teck / Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newcrest / Imperial Metals). Field work by MTB on its 310 square kilometre property, together with earlier results, provides compelling evidence for the presence of one or more porphyrys, similar to others in the area.
- The American Creek project is centered on the historic Mountain Boy silver mine. The project is road accessible and 20 km from the deep-water port of Stewart. There are multiple silver, gold and copper occurrences on the property, including a 2006 drill hole that encountered 5 kgs of silver over 5 metres.
- Red Cliff is a past producing gold and copper mine in which the Company holds a 35% interest. Recent drill results include 2 meters of 26 g/t gold.
- 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. Surprise Creek, to the north, hosts the same prospective stratigraphy.
- 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 the Golden Triangle. It was explored in the 1980s through the early 1990s and was overlooked until MTB consolidated the property and carried out airborne geophysics and field work which confirmed several zones of gold and copper, with values up to 20% copper and 35 g/t gold.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
For further information, contact:
Caroline Klukowski
info@mountainboyminerals.ca
NEITHER 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 may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
MTB:CA
Equity Metals: Advancing High-grade, District-scale Silver and Gold Assets in British Columbia
Equity Metals (TSXV:EQTY,OTCQB:EQMEF,FSE: EGSD) is rapidly advancing exploration at its 100 percent-owned Silver Queen Project in British Columbia, aiming to expand resources and further de-risk one of the province’s most promising high-grade polymetallic deposits. Situated in the prolific Skeena Arch—home to the historic Equity Silver and Huckleberry mines—Silver Queen hosts an NI 43-101 compliant resource of 62.8 million ounces silver equivalent (indicated) and 22.5 million ounces silver equivalent (inferred). Ongoing drilling in 2024 continues to extend known zones while uncovering new areas of mineralization.
The company is also advancing its newly acquired Arlington Project, a district-scale, never-before-drilled gold-copper-silver asset located in southern BC’s Greenwood Mining Division. With geological similarities to historic producers such as Phoenix and Buckhorn, Arlington is currently undergoing an aggressive 3,000-meter drill program, targeting high-grade, gold-enriched polymetallic mineralization.
The Silver Queen Project is Equity Metals’ 100%-owned flagship asset, located in the heart of British Columbia’s prolific Skeena Arch, approximately 35 kilometers south of Houston. Covering 18,871 hectares, the property comprises 17 crown-granted titles and 46 mineral tenure claims within the Omineca Mining Division. Strategically positioned among past-producing and active mines, including the Equity Silver Mine, Berg, Endako, and Mt. Milligan, the project is well supported by established infrastructure, with convenient access to roads, power, and rail.
Company Highlights
- Flagship High-grade Project – Silver Queen: Over 85 million silver-equivalent ounces defined in the heart of BC's Skeena Arch mineral belt, surrounded by Tier 1 infrastructure and historical producers.
- New Gold Discovery Potential – Arlington project: A district-scale, early-stage gold-copper-silver system with analogues to major past-producing skarn and vein-hosted mines in the region.
- Fully Funded for 2025: 9,000 meters of combined drilling is underway across both Silver Queen and Arlington with assay results expected to drive news flow through Q3 and Q4 2025.
- Experienced Management and Technical Team: Track record of discovery and mine development across North America, including the Penasquito and Eskay Creek mines and the Wind Mountain project.
- Exposure to Critical and Precious Metals: Balanced portfolio spanning silver, gold, copper and diamonds with optionality in battery materials (silica) and critical minerals.
This Equity Metals profile is part of a paid investor education campaign.*
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Equity Metals
Investor Insight
Equity Metals offers investors exposure to high-grade silver and gold discoveries in British Columbia through a dual-track strategy of expanding its flagship Silver Queen resource and advancing the newly acquired Arlington district.
Overview
Equity Metals (TSXV:EQTY,OTCQB:EQMEF,FSE:EGSD) is fast-tracking exploration at its 100 percent owned Silver Queen project in British Columbia, targeting resource expansion and derisking of one of the province's most prospective high-grade polymetallic deposits. Located within the prolific Skeena Arch near the historic Equity Silver and Huckleberry mines, Silver Queen boasts an NI 43-101 compliant resource of 62.8 million ounces (Moz) silver equivalent (indicated) and 22.5 Moz silver equivalent (inferred), with 2024 drilling extending known zones and identifying new mineralized areas.
Complementing this is the Arlington gold-copper-silver project, a newly acquired district-scale, never-before drill-tested project located in southern BC's Greenwood Mining Division. With analogues to historic producers like Phoenix and Buckhorn, Arlington is being aggressively explored with 3,000 meters of drilling underway, focused on delineating high-grade gold-enriched polymetallic mineralization.
Parameters for the NI 43-101 Compliant Mineral Resource Estimate are in the Appendix and in the EQTY News Release, dated Dec 1, 2022
Together, Silver Queen and Arlington offer a balanced exposure to high-grade polymetallic and gold-rich systems. The former provides near-term resource expansion and development optionality, while the latter opens up district-scale discovery potential.
In addition, Equity Metals holds interests in the Monument and WO diamond properties in the Lac de Gras region (Northwest Territories), proximal to the Diavik and Ekati mines, and the La Ronge silica project in Saskatchewan. These projects offer upside optionality for strategic partnerships or asset sales.
Company Highlights
- Flagship High-grade Project – Silver Queen: Over 85 million silver-equivalent ounces defined in the heart of BC's Skeena Arch mineral belt, surrounded by Tier 1 infrastructure and historical producers.
- New Gold Discovery Potential – Arlington project: A district-scale, early-stage gold-copper-silver system with analogues to major past-producing skarn and vein-hosted mines in the region.
- Fully Funded for 2025: 9,000 meters of combined drilling is underway across both Silver Queen and Arlington with assay results expected to drive news flow through Q3 and Q4 2025.
- Experienced Management and Technical Team: Track record of discovery and mine development across North America, including the Penasquito and Eskay Creek mines and the Wind Mountain project.
- Exposure to Critical and Precious Metals: Balanced portfolio spanning silver, gold, copper and diamonds with optionality in battery materials (silica) and critical minerals.
Key Projects
Silver Queen Project
The Silver Queen project is Equity Metals’ 100 percent owned flagship asset located in central British Columbia’s prolific Skeena Arch, approximately 35 km south of Houston. This 18,871-hectare property consists of 17 crown-granted titles and 46 tenure claims in the Omineca Mining Division. Surrounded by past-producing and active mines, including the Equity silver mine, Berg, Endako and Mt. Milligan, the project benefits from established infrastructure such as roads, power and rail access.
Silver Queen hosts a high-grade polymetallic system featuring silver, gold, copper, lead and zinc mineralization. The project is underpinned by a robust NI 43-101 compliant resource estimate (as of December 2022) consisting of 62.8 million ounces (Moz) silver-equivalent (AgEq) in the indicated category grading 565 grams per ton (g/t) AgEq, and 22.5 Moz AgEq in the inferred category grading 365 g/t AgEq. This includes 3.46 million tons (Mt) of indicated resources averaging 189 g/t silver, 2.13 g/t gold, 0.24 percent copper, 0.6 percent lead, and 3.5 percent zinc, and 1.92 Mt of inferred resources grading 167 g/t silver, 0.82 g/t gold, 0.23 percent copper, 0.5 percent lead, and 2 percent zinc.
The mineralization occurs in multiple steeply dipping epithermal vein systems, subdivided into the No. 3, NG-3, Camp and Sveinson veins. Each exhibits distinct metal zonation – the Camp veins are silver-dominant, while the Sveinson, No. 3 and NG-3 show a stronger gold bias. Bonanza grades have been intercepted at multiple locations, including down-hole drill core intervals assaying up to 56,115 g/t silver over 0.3 metres in recent drill results. High sulphide and low sulphide vein environments have both been identified, suggesting a long-lived and multi-phase mineralizing event.
Since late 2020, Equity has completed 52,877 meters of drilling in 146 holes, targeting extensions and new zones of mineralization. In 2024 alone, four target areas – George Lake, Camp North, No. 3 North and Camp-Sveinson – were tested via 17,209 meters across 42 holes. Drilling resulted in the delineation of a 550-metre strike-length for mineralization in the George Lake target and a 400-metre strike-length for mineralization in the No. 3 North target, as well as several extensions of earlier identified veins in the Camp Deposit and a new discovery in the Camp North target. A 6,000-meter 2025 drilling program will further test these zones with updated modeling and resource growth expected in Q3 2025.
Metallurgical testing completed in both 1988 and 2022 yielded positive recoveries: 83 percent gold, 95 percent silver, 93 percent copper, 91 percent lead, and 98 percent zinc. A follow-up metallurgical program is planned to support preliminary development studies. With extensive underground development (~9 km of historic workings) and proximity to key infrastructure, the Silver Queen project is well positioned for advancement toward economic studies and ultimately, a potential strategic transaction.
Arlington Project
The Arlington project is a 3,584-hectare, early-stage exploration asset located in southern British Columbia’s Greenwood Mining Division, approximately 65 km south of Kelowna. The project sits within the prolific Quesnel Terrane and is accessible year-round via Highway 33 and a network of logging roads. The region hosts several historical producers including the Buckhorn, Phoenix, and Beaverdell mines, which have collectively yielded more than 2 Moz gold, 6 Moz silver and 500 Mlb copper.
Arlington encompasses multiple mineral occurrences and at least four deposit styles across a more than 5 km strike length. Historic and recent surface work has confirmed high-grade mineralization with rock samples returning values up to 11.67 g/t gold, 211 g/t silver, and 3.22 percent copper. The 2025 exploration program, currently underway, includes a 3,000-metre drill campaign primarily targeting the Fresh Pots gold-silver anomaly – a large (2 km x 1 km) intrusion-related gold system delineated by multi-element soil geochemistry and magnetic lows.
Other high-priority targets include:
- Rona Porphyry Target: A copper-molybdenum-gold system with pyroxenite intrusive-hosted mineralization. Rock chip assays have returned >1 percent molybdenum, 0.6 g/t gold, and 32.4 g/t silver. The area is characterized by a large copper-nickel soil anomaly and widespread argillic alteration in adjacent sedimentary rocks.
- Arlington Polymetallic Veins: A structurally controlled vein system with documented historic workings. Highlights include Arlington South (11.67 g/t gold, 3.22 percent copper) and Arlington North (1.86 g/t gold, 1.07 percent copper), suggesting vertical metal zonation and potential for stacked vein systems.
- Skarn and Replacement Targets: Notably at the Bru and Arlington zones, analogous to Buckhorn and Phoenix, where gold-copper magnetite skarns produced over 1 Moz historically.
In early 2025, Equity Metals completed a property-wide airborne magnetic/radiometric survey and LiDAR mapping campaign to refine targeting. Soil and till geochemistry, IP surveying and mapping continue across the license area to delineate follow-up drill targets for 2026.
Management Team
Lawrence Page – Chairman and Director
A seasoned mining executive with over four decades of experience, Lawrence Page has helped finance and develop several major discoveries including Penasquito (Mexico), Eskay Creek and Hemlo. He brings strategic oversight and a deep network within the exploration and capital markets community.
Joseph A. Kizis Jr. – President and Director
With over 40 years of mineral exploration experience, Joseph Kizis has been instrumental in advancing gold, silver and base metal projects across North America. He is also president of Bravada Gold and has played key roles in advancing Wind Mountain in Nevada and Homestake Ridge in BC.
Robert W.J. Macdonald – VP Exploration
Robert Macdonald leads Equity Metals’ technical team and brings extensive epithermal and porphyry system expertise. His past project experience includes Homestake Ridge in BC and Cerro Las Minitas in Mexico, and he is the Qualified Person for all technical disclosures.
Killian Ruby – CFO and Director
As president and CEO of Malaspina Consultants and a former senior manager at KPMG LLP, Killian Ruby brings financial discipline, governance strength and tax expertise. He also serves as CFO for several junior resource companies.
John Kerr – Director
A professional engineer with five decades of exploration experience, John Kerr has contributed to the discovery and development of projects such as Santa Fe and Mindora in Nevada, and Frasergold in BC.
Courtney Shearer – Director
Courtney Shearer has served in executive and advisory roles with multiple Canadian mining companies, including San Gold Corporation, where he led strategic evaluations and project planning initiatives.
Arie Page – Corporate Secretary
Arie Page provides legal and corporate compliance support and has served as corporate secretary for numerous public companies within the Manex Resource Group.
Appendix:
Silver Queen Mineral Resource Estimate (NI 43-101 Compliant, Dec. 1, 2022) (C$100 NSR cut-off)
- The current Mineral Resource Estimate was prepared by Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd and Eugene Puritch, P. Eng., FEC, CET and Fred Brown, P, Geo. of P&E Mining Consultants Inc. (“P&E”), Independent Qualified Persons (“QP”), as defined by National instrument 43-101.
- All Mineral Resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required under National Instrument 43-101 (“NI43-101”).
- Mineral Resources were constrained using continuous mining units demonstrating reasonable prospects of eventual economic extraction.
- Silver and Gold Equivalents were calculated from the interpolated block values using relative process recoveries and prices between the component metals and silver to determine a final AgEq and AuEq values.
- Silver and Gold Equivalents and NSR$/t values were calculated using average long-term prices of $20/oz silver, $1,700/oz gold, $3.50/lb copper, $0.95/lb lead and $1.45/lb zinc. All metal prices are stated in $USD. The C$100/tonne NSR cut-off grade value for the underground Mineral Resource was derived from mining costs of C$70/t, with process costs of C$20/t and G&A of C$10/t. Process recoveries used were Au 70%, Ag 80%, Cu 80%, Pb 81% and Zn 90%.
- Grade capping was performed on 1m composites for the No. 3 and NG-3 veins and whole vein composites for the Camp and Sveinson veins. For the No. 3 and NG-3 veins Inverse distance cubed (I/d3) was utilized for grade interpolation for Au and Ag and inverse distance squared (I/d2) was utilized for Cu, Pb and Zn. Inverse distance squared (I/d2) was used for all metals in the Camp and Sveinson veins.
- A bulk density of 3.56t/m3 was used for all tonnage calculations in the No. 3 and NG-3 veins. A variable density with a 3.15 average was used for the Camp and Sveinson veins.
- Mineral Resources are not Mineral Reserves until they have demonstrated economic viability. Mineral Resource Estimates do not account for a Mineral Resource’s mineability, selectivity, mining loss, or dilution.
- An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
