Metals Creeks Discovers New High Grade Gold Mineralization with Assays up to 4.16 g/t Gold on the Shabaqua Corners Gold Property
Thunder Bay Ontario, , July 06 2023 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, FRA:M1C1) is pleased to announce the new discovery of additional high grade gold mineralization on the eastern portion of the Shabaqua Corners Gold Property. This new discovery is the second new gold discovery (See news release: June 21, 2023) over the last several weeks which is a part of an ongoing prospecting and geological mapping program.
The property is located within the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario near Shabaqua Corners and on trend to Delta Resources Delta 1 project. The property has seen very little exploration work.
Prospecting and mapping activities on the Shabaqua Corners Gold Property continues to uncover areas of new gold mineralization within prospective areas outside of the Main Zone mineralization (See news release: May 25, 2023). This new zone of gold mineralization (East Zone) is located 397m east of Main Zone and returned assays ranging from 16 ppb (parts per billion) to 4116 ppb (4.16 grams per tonne). Gold mineralization is hosted within carbonate altered sediments which include conglomerates with associated quartz-carbonate veining and local stockwork striking roughly the same orientation to that of the main zone. Alteration is made of up strong silicification with pervasive iron carbonate. Mineralization consists of trace to 6% disseminated to stringer pyrite with trace to 2% arsenopyrite also present. ( See figure 1 and figure 2). Cubic pyrite is common throughout the alteration system and appears to be an important component for the presence of gold. Preliminary interpretation indicates gold mineralization occurs at the contact with mafic volcanics and sediments which is a high priority target for upcoming exploration work. An exploration permit has been applied for, so trenching within this and other areas on the property will take place once the permit is received. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)
Management is highly encouraged with the recent success in discovering two new gold systems ( Echo Zone and East Zone) outside of the main zone mineralization over a short period of time, demonstrating the strong exploration potential for additional discoveries through systematic prospecting.
Prospecting and geological mapping is ongoing with the aim of further delineating known gold mineralization along strike of the recently discovered gold zones as well as continuing to evaluate other prospective areas of the property. Additional samples are currently at the lab awaiting results. MEK is also targeting potential parallel gold bearing structures as demonstrated within other projects within the Shebandowan Greenstone Belt.
The eastern boundary of the property is located 1.57 kilometers(km) west of Delta Resources (DLTA) drill hole DL-22-18 which returned an intercept of 5.92 g/t Au over 31m (Source: Delta New Release October 31, 2022). Trenching conducted on Delta’s ground 390m east of the property boundary, returned an interval of 2.22 g/t Au over 8m (Source: Delta Resources Website).
All samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish.
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 from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek owns and/or has option agreements in place to acquire a 100% interest in claims in the Shabaqua Corners area of North western Ontario.
Metals Creek also has multiple quality projects available for option which can be viewed on the Company’s website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company 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