ExGen Options DOK Property in NW BC Golden Triangle
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VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) is pleased to announce that it has signed an option agreement with Mountain Boy Minerals Ltd. (“Mountain Boy”) (TSX.V:MTB) whereby Mountain Boy may earn a 60% interest in the DOK copper-gold porphyry property (the “Option Agreement”), located approximately 40 kilometres southwest of Telegraph Creek, in northwest British Columbia, Canada (the “DOK Property”). The DOK Property consists of approximately 26,365 acres.
- ExGen’s DOK Property is the most advanced and key exploration target in Mountain Boy’s Telegraph project.
- Compilation of historic results provides evidence of large-scale copper-gold porphyry potential.
The DOK Property was first explored in the early 1970s with a focus on copper. That work identified numerous copper showings and outlined a substantial copper-in-soil geochemical anomaly referred to as the Main target, 1,200 meters by 850 meters. Geophysical surveys in later years identified coincident anomalies. The Main target was tested with five drill holes in 1971, totaling 817 metres and two drill holes in 2014, totaling 835 metres. The drilling demonstrated that the system hosts copper and gold mineralization. Results from 2014 include 0.327% Cu, 0.13 g/t Au and 1.92 g/t Ag over 18.3m. and 0.113% Cu, 0.06 g/t Au and 1.64 g/t Ag over 54.9 m. Both of these holes contain broader intervals of lower-grade copper-gold-silver mineralization. In the 2015 assessment report on drilling, Jeffrey D. Rowe and Charles J. Greig state “The presence on the DOK property of broad intervals of low to moderate grade Cu-Au-Ag stockwork-style mineralization in drill holes, extensive soil geochemical anomalies and coincident magnetic and IP chargeability highs, within areas of potassically-altered volcanic rocks and syenitic intrusions are all indications of an extensive porphyry-style mineralizing system, within which the potential for discovery of a substantial Cu-Au-Ag deposit remains high. Further exploration work is definitely warranted, (AR35798)."