Metals Creek Intersects 6.22 g/t gold over 6.63 metres at Naybob South Zone in Timmins, Ontario
Toronto, 11 January, 2012. Metals Creek Resources Corp. (the “Corporation”, TSXV: “MEK”) is pleased to announce assay results from four diamond drill holes testing near surface mineralization at the Naybob South Zone on the Ogden Property. OG11-02 returned a high-grade intercept of 6.22 g/t (grams per tonne) gold over 6.63 m (metres) from one of four holes which tested the Naybob South Zone.
These holes were designed to increase drill density within the near surface high grade gold mineralization of the Naybob South stratigraphy which has been traced for approximately 400m. Mineralization consists of pyrite and arsenopyrite within strongly albitized mafic volcanic rocks. The four diamond drill holes were part of a thirteen hole, 3593m diamond drill program designed to target mineralization on the Porphyry Hill, Naybob South and Thomas Ogden zones. Assay results have been received for eight of the thirteen holes. Three holes (TOG-11-08, 09 and 10) were previously released (November 16. 2011) included a high grade intercept of 13.07 g/t gold over 2.88m extending high grade gold mineralization to depth at Thomas Ogden. Hole PH11-01 which targeted the down plunge extension of porphyry hill mineralization did not reach its target due to ground stability problems.
“Drilling continues to demonstrate the continuity of the near surface mineralization at the Naybob South Zone which is approximately 8 km west of Goldcorp’s Dome mine and mill complex. We are very encouraged with the results of the recent program on the Ogden Project in Timmins.” said Sandy Stares, President and CEO of Metals Creek. Results from the last five holes will be released as they are received and compiled.
Results from the four holes at Naybob South:
OG11-01: 8.84m down hole intercept (64.76m to 73.60m) of 1.066 g/t gold.
OG11-02: 6.63m down hole intercept (87.80m to 94.43m) of 6.217 g/t gold
And 2.6m down hole intercept (71.0m to 73.6m) of 1.547 g/t Gold.
OG11-03: 2.5m down hole intercept (81.5m to 84.0m) of 2.155 g/t gold
And 5.05m down hole intercept (98.20m to 103.25m) of 2.767 g/t gold.
OG11-04: 2.88m down hole intercept (57.05m to 59.93m) of 2.224g/t gold
Note: True thicknesses are approximately 60-80% of down hole intercepts
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 Lakeshore Gold’s West Timmins development project. Metals Creek can earn 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 4 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 to Actlabs located in Thunder Bay, Ontario. 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’Dor, 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
telephone: (514)-904-1333 or (514)-947-4847
telephone: (514)-904-1333 or (514)-835-1781
This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to the Corporation. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Corporation has no intention or obligation to update the forward-looking statements contained in this press release.
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