Canadian copper ores company Mountain Boy Minerals (MTB) has acquired a 100% interest in the More Creek property.
The 4,970ha site is located 40km northwest of the historic Eskay Creek Mine and adjacent to the Newmont Lake property, which is currently being drill-tested.
The last recorded exploration, which was conducted in 1990 at the More Creek property, produced assaying samples of 13.58% copper, and good values of lead, zinc, gold and silver.
Blue Gold Resources carried out the exploration programme of prospecting, geological mapping and rock sampling on the existing claims.
Two large gossans separated by a large glacier with pervasive silicification and pyrite alteration were identified.
Receding glaciers have also opened up large areas that were never explored.
The More Creek property has the potential to host precious metal veins, skarn and VMS-style mineralisation.
Six tenures were acquired outright from an arms-length party in exchange for 160,000 shares of Mountain Boy, subject to regulatory approval. In addition, four tenures comprising 828ha were owned by or on behalf of MTB.
Mountain Boy Minerals CEO Lawrence Roulston said: “The MTB geological team recognised the potential in this property, which had been overlooked for decades.
“The More Creek acquisition positions us in the heart of the highly prolific Eskay Camp, an area that has seen big increase in exploration activity. More Creek complements our three highly prospective projects in the Stewart Camp, where work is ongoing.”
Last month, Mountain Boy reported a new gold-silver discovery on its American Creek West project, located in the Golden Triangle of British Columbia. The project is located 20km north of the deepwater port of Stewart.