MTB Metals drilling at Telegraph project, British Columbia
MTB Metals Corp. [MTB-TSXV; MBYMF-OTCQB; M9U-FSE] has begun drilling at the Telegraph porphyry project, northwestern British Columbia, with the first drill hole having intercepted significant visual copper sulphide mineralization.
The geological setting of the Telegraph property is similar to four world-class porphyry copper-gold deposits in the region, all of which are being advanced by major mining companies. MTB consolidated a 310 km2 land package in 2021 and is now exploring this area for the first time on a consolidated basis.
The first drill hole from the 2023 program is testing an area with elevated copper in rock and soil samples, mapped potassic and phyllic alteration within a mineralized breccia on surface, and a chargeability feature that penetrates to depth. Drilling to date has intersected over 200 metres (with the hole still advancing) of phyllic and potassic alteration with associated mineralization, including an upper oxide and lower sulphide zone. Mineralization occurs within a healed breccia, as disseminations, fracture coatings, veins and veinlets, and includes chalcopyrite, pyrite, chalcocite and malachite.
Drilling is proceeding on schedule and is anticipated to continue through to the end of September. The MTB team has identified numerous targets on the Dok trend with similar geological, geochemical and geophysical features identified in the first hole.
Lucia Theny, Vice-President, Exploration commented, “This first drill hole supports our hypothesis that the 2014 drilling intersected the margin of a potentially larger porphyry system. The diligent work of our exploration team has resulted in generating some exciting targets that now need to be tested with the drill.”
MTB has six active projects spanning 670 km2 (67,587 hectares) in the prolific Golden Triangle. 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, together with earlier results, provides compelling evidence for the presence of one or more porphyries, similar to others in the area.