Metals Creek Intersects 9.46 g/t Gold Over 18.55 Meters, at the Thomas Ogden Zone in Timmins, Ontario
TORONTO, ONTARIO -- (Marketwire) -- 01/15/13 -- Metals Creek Resources Corp. (TSX VENTURE: MEK) (the "Corporation") is pleased to report assay results from its drill program completed last fall on the Ogden Gold Project in Timmins, Ontario. The program consisted of four holes targeted on the Thomas Ogden Zone (TOG) and was designed to test the western extent of gold mineralization and better define known fold structures hosting TOG mineralization which are thought to be an important control on the location of the high grade gold mineralization.
Highlights
-- 9.46 grammes per tonne (g/t) gold over 18.55 meters in hole TOG 12-07,
including 23.22 g/t gold over 6.65 meters.
The program was successful in extending gold mineralization down dip as well as better defining the orientation of known fold structures. In particular, hole TOG-12-07, returned a high grade intercept of 6.65 meters grading 23.22(grams per tonne) g/t gold from a down hole depth of 167.35m. This intercept was a part of a broader zone of gold mineralization which assayed 9.46 g/t gold over 18.55m, and is described as a strongly altered sedimentary and porphyry unit with associated pyrite, arsenopyrite and strong silicification with impressive visible gold. TOG-12-07 was drilled 20 m beneath hole TOG-12-05 which had a previously reported intersection of 5.04 g/t gold over 15 m (see MEK press release dated May 15, 2012)
The other three holes were also successful in tracing the near surface gold mineralization within the TOG zone further to the west with hole TOG-12-09 returning 1.30 g/t gold over 25.00 m (from an area with visible gold)and hole TOG-12-10 returning 2.25 g/t gold over 12.95 m. Drilling continues to confirm the continuity of the Thomas Ogden Zone down dip and along strike, as well as providing a better understanding of the complex structural nature of the Thomas Ogden Zone with what appears to be a strong spatial relationship of higher gold grades in close proximity to geological flexures. The next phase of drilling is slated to begin in February 2013. The details of the assay results from the latest drilling are tabulated below:
Drill Results
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Hole From to interval(i) Gold
Number (meters) (meters) (meters) (g/t)
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TOG-12-07 167.35 185.90 18.55 9.46
including 167.35 174.00 6.65 23.22
and 201.25 213.00 11.75 1.30
and 229.00 255.92 26.92 2.00
including 249.30 255.92 6.62 6.17
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TOG-12-09 232.00 257.00 25.00 1.30
including 239.00 243.54 4.54 3.17
and 254.54 257.00 2.46 3.36
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TOG-12-10 220.1 233.05 12.95 2.25
including 228.15 233.05 4.90 3.98
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TOG12-11 260.0 269.35 9.35 0.311
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(i)Reported drill intercepts are not true widths. At this time
there is insufficient data to calculate true orientations.
Alexander (Sandy) Stares, President and CEO of the Corporation states "we are extremely encouraged by the grade, style and continuity of gold mineralization at the Thomas Ogden zone. This mineralization represents a new discovery along the Destor-Porcupine break, which has produced in excess of 40 million ounces of gold within ten kilometres of our latest drilling. The near surface, strongly altered zone shows very good continuity between holes and remains open on strike and at depth. The next phase of drilling will be focused on the Thomas Ogden zone and will help establish the significance of the zone as we work towards a 43-101 compliant resource."
The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp's Dome Mine and Lake Shore Gold's West Timmins development project. Metals Creek and Goldcorp Canada Ltd. and Goldcorp Inc. (Goldcorp) have recently formed a 50/50 joint venture on The Ogden Gold project with Metals Creek as operator.
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 a well-funded 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 have recently formed a 50/50 joint venture with Goldcorp, to continue exploring the Ogden Gold property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario. MEK will be the operator and subsequent programs will be funded on a 50/50 basis while both companies contribute its share of required funding in the Ogden Gold Property. 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 its profile at www.sedar.com.
Contacts:
Metals Creek Resources Corp.
Alexander (Sandy) Stares
President and CEO
(709)-256-6060
(709)-256-6061 (FAX)
astares@metalscreek.com
www.metalscreek.com