MEK Drills 5.83 g/t Gold over 16.27m at Thomas Ogden Zone.
Metals Creek drills 5.83 g/t Gold over 16.27m at Thomas Ogden Zone.
Toronto,15 May, 2012. Metals Creek Resources Corp. (the “Corporation”, TSXV: “MEK”) is pleased to report final assay results from its recent
Results included in this release are from the final three diamond drill holes targeting gold mineralization at the Thomas Ogden Zone (TOZ). Two holes, TOG-12- 05 and TOG 12-06 both targeted near surface gold mineralization and were drilled 25m apart along the western extension of the Thomas Ogden Zone. Hole TOG 12-05 returned an intercept of 2.34g/t (grams per tonne) gold over 43.7m (141.3m to 185.0m) including a higher grade intersection of 5.04 g/t gold over 15.0m (170.0m to 185.0m). The second hole, TOG-12-06 intersected 5.83 g/t gold over 16.27m (146.60m to 162.87m). Both holes undercut previous intersections and demonstrate the continuity of mineralization to depth. The zone is described as strongly altered porphyry and conglomerates with associated pyrite, arsenopyrite and strong silicification.
The third hole reported herein, TOG 12-02, returned two zones of mineralization with the upper zone intersecting 3.60 g/t gold over 2.7m (370.0m to 372.7m) and a lower zone assaying 4.03 g/t gold over 1.0m (450.15m to 451.15m). This hole was designed to target the continuity of deeper mineralization within the down-plunge extension of the TOZ and undercut 30m below previously released hole TOG-11-03 returning an intercept of 6.73 g/t gold over 1.0m. Very little drilling has been completed in this area. A surface plan and vertical longsection can be viewed on Corporations website highlighting holes from this release.
The 2012 drill program was completed in March and all results have now been received. MEK is currently compiling all the results into a final report to include a summary of expenditures. Once is has been determined that the Corporation has incurred expenditures of $3.1 million in the Ogden gold property, a notification stating that the corporation has vested as to a 50% interest in the Ogden property will be sent to its option/joint venture partner Goldcorp along with the final share issuance.
The latest program has demonstrated that the TOZ has good potential and management is highly encouraged by its continued success in defining the geometry and down plunge extension of gold mineralization within the Thomas Ogden Zone. A summary of the more significant intersections from the TOZ over the past 12 months is detailed in the table below.
Note: Due to the complex nature of the mineralized stratigraphy, true widths are unknown at this time.
The Ogden Gold Project is under Option from Goldcorp Canada Ltd. and Goldcorp Inc. (“Goldcorp”). The Ogden Project covers eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp’s Dome Mine Complex and Lake Shore Gold’s West Timmins development project. Metals Creek is earning a 50% interest in the Project by incurring $3.1 million in expenditures and issuing a combination of cash and shares totaling $460,000 over four years.
All split core samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol “MEK”. Metals Creek can earn a 50 % interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (PDF) that stretches between Timmins, Ontario and Val d’Or, Quebec. The Corporation is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company’s profile at www.sedar.com.
For further information, please contact:
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp