MTB Metals Corp. reported that drilling on the Telegraph porphyry project is underway, with the first drill hole having intercepted significant visual copper sulfide mineralization. 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. 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.