Metals Creek drills 6.58 m of 1.19 g/t Au at Ogden
2016-06-23 08:13 ET - News Release
Mr. Alexander Stares reports
METALS CREEK RESOURCES CORP. CONTINUES TO INTERSECT GOLD MINERALIZATION WEST OF THOMAS OGDEN ZONE
Metals Creek Resources Corp.'s drilling continues to intersect gold mineralization west of the Thomas Ogden zone (TOG) on the Ogden gold project, Timmins, Ont. 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.
The Company drilled three holes (See News Release dated May 4, 2016) totaling 1337 meters in an attempt to better define the Thomas Ogden Stratigraphy west of TOG and to follow-up on the previously announced results from OG15-040 (see News Release March 4, 2016) which returned a down hole intercept of 5.06 grammes per tonnes (g/t) over 2.6 meters (m) in the newly discovered 15-40 zone.
TOG-16-46 was drilled 100 meters east of OG15-040, and returned a down hole intercept (282.0-288.58m) of 1.19 g/t over 6.58m. This intersection is described as a strongly altered conglomerate and greywacke characterized by heavy albitization and silicification associated with 1 to 8% disseminated pyrite and local arsenopyrite. A second zone of mineralization was also intersected in hole TOG-46-46 returning a down hole intercept (270.95-272.95m) of 1.30 g/t gold over 2.0m with similar style alteration and mineralization. Reported drill intercepts are not true widths. At this time there is insufficient data to calculate true orientations.
Holes TOG-16-44 and 45 did not return any significant results while encountering similar style alteration to that of TOG.
Management is highly encouraged by the 15-40 zone results to date as it is reminiscent of the first drilling at the Thomas Ogden Zone. Drilling on the Ogden Property will resume once results are compiled and future drill targets are prioritized.
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.
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