METALS CREEK RESOURCES CORP. INTERSECTS 4.39 G/T GOLD OVER 12.45 METERS AT THOMAS OGDEN GOLD ZONE.
Toronto, January 11, 2017.
Metals Creek Resources Corp. (TSX-V:MEK) (the “Company”) is pleased to announce final drill results from its recently completed diamond drill program targeted on expanding the Thomas Ogden Gold Zone (TOG), located in the heart of the Timmins gold camp. This program consisted of six holes (2382 meters) and was successful in further defining the TOG Zone and host stratigraphy. Results from the first hole, TOG-16-47, was outlined in a previous release dated Nov 15, 2016 and included an intersection of 5.73 g/t (grammes per tonne) gold over 8.2m (meters). Highlights from the remaining 5 holes described in this release, included an intersection of 4.39 g/t over 12.45m from hole TOG-16-48.
The Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp") owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project. The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp’s 16.5 million oz. Dome Mine and Tahoe Resources West Timmins Mine. The vast majority of the Porcupine-Destor Fault on the property is underexplored, compared to other properties in the Timmins Gold camp.
TOG 16-48 was a 45m undercut below previously released hole TOG 13-27 which intersected several zones of mineralization including a down hole intercept of 49.96 g/t Au over 9.0m (MEK NR April 10, 2013). Hole TOG 16-48 intersected the zone at a down-hole depth of 199.95m and assayed 4.39 g/t gold over 12.45 m. This intersection is typical of the TOG Zone and is described as a strongly altered felsite and conglomerate characterized by strong albitization and silicification with associated disseminated pyrite, local arsenopyrite and visible gold.
Results from all drill holes in the recent program are included as table 1 below:
|Comments||From (m)||To (m)||Interval (m)*||Gold (g/t)|
|TOG-16-47||Previously released (press release on Nov. 15, 2016)||222.3||230.5||8.2||5.73|
|TOG-16-48||Undercut to earlier high grade hole (49.96 g/t over 9.0 m)||199.95||212.4||12.45||4.39|
|TOG-16-49||Albitized conglomerate with V.G.||357.04||362.1||5.06||1.2|
|TOG-16-50||Upper eastern section of TOG Zone stratigraphy||191.68||196.5||4.82||0.46|
|TOG-16-51||Intersected below interpreted plunge, testing down plunge of TOG||604.32||605.32||1||1.03|
|TOG-16-52||Upper eastern section of TOG Zone stratigraphy||282||296||14||0.44|
* Reported drill intercepts are not true widths. At this time there is insufficient data to calculate true orientations.
Commented Alexander (Sandy) Stares, President and CEO of MEK “Management remains highly encouraged by these results as we continue to intersect high grade gold mineralization over appreciable widths, within 10 kms of Goldcorp’s Dome Mill Complex. Each drill program adds to our understanding of the controls of the mineralization and will enable MEK to more effectively evaluate the down plunge projection of the TOG Zone as well as integrate the 15-40 zone located 500m to the west of TOG, into the current geological model”.
Metals Creek is currently compiling the data from the recently completed drill program and drilling is expected to recommence in February.
Drill sections and a drill plan map is available on the company’s website at www.metalscreek.com
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.
Metals Creek has been accepted to participate in the Junior Exploration Assistance Program (JEAP) grant of up to 33.3% of approved exploration expenses up to a maximum of $100,000 on the Ogden Project. MEK would like to thank the Northern Ontario Heritage Fund and the Ontario Prospectors Association for the opportunity to participate in this program.
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 a junior exploration company 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 has earned 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 (P-DF) that stretches between Timmins, Ontario and Val d’Or, Quebec. The Company has also recently entered into an Option/JV with Trifecta Gold Ltd. on Metals Creek’s Squid properties in Yukon. Metals Creek also has a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland as well as two option agreements with Anaconda Mining Inc. on Metals Creek’s Jacksons Arm and Tilt Cove Properties also in Newfoundland. The company is engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp