Metals Creek Resources Corp. Commences Drilling On The Tillex Copper Deposit, Followed By The Ogden Gold Project - Timmins Ontario
(via Thenewswire.ca)
Toronto, 17 August 2011. Metals Creek Resources Corp. (the "Corporation", TSXV: MEK) is pleased to announce the commencement of a five hole, 800 meter diamond drill program on its 85% owned Tillex Copper Project, located in Currie Township, 65 km east of Timmins, Ontario. The purpose of this program is to further delineate copper mineralization within the historic Tillex Copper Deposit as well as to further define the copper mineralization at depth. A near surface non 43-101 compliant mineral resource of 1,338,000 tonnes grading 1.56% Cu was calculated in 1990 for the deposit (Pacifica Resources Ltd., 2005-6 Canadian Mines Handbook, page 318) however management notes that this calculation does not meet the standards as outlined in National Instrument 43-101, "Standards of Disclosure for Mineral Projects", has not been independently validated or verified by the Corporation, and should not be relied upon.
The Corporation also is pleased to announce that upon completion of the Tillex drill program, the drill rig will be mobilized to the Ogden Property in the Timmins Gold Camp, Ontario. The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp's Dome Mine and Lakeshore Gold's West Timmins development project. The Ogden drill program will consist of a minimum 3000 meters of drilling testing various high priority targets including the Thomas Ogden Zone porphyry mineralization and three recently identified IP targets located immediately west of the Zone. Results of this drill program will be released as they are received and compiled.
Recently completed drilling on the Thomas Ogden Zone has partially delineated a significant mineralized porphyry exhibiting a wide zone of lower grade gold with a higher grade core. Highlights include a near surface intercept in hole TOG-10-21 of 4.37 g/t (grams per tonne) gold over 23.4m (meters) described as an altered porphyry with associated pyrite, strong silicification and visible gold. This intercept was part of a broader zone of porphyry-style mineralization assaying 1.94 g/t gold over 75.85m. (See MEK press release dated 11 January, 2011) The hole was collared 50m east along strike from previously released hole TOG-10-20, which had a down hole intercept of 1.08 g/t gold over 54.70 m.
The Ogden Gold project is subject to a Joint Venture Agreement (the "Agreement") with Goldcorp Canada Ltd. and Goldcorp Inc. ("Goldcorp"). The agreement allows for the Corporation to earn a 50% interest in the project, located in Ogden and Deloro Townships, by incurring $3.1 million in expenditures and issuing a combination of cash and shares totaling $460,000 over 4 years.
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, Yukon 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.
"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."
For further information, please contact:
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com
WWW.metalscreek.com
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