NEWS IS OUT!!Metals Creek Resources intersects 4.89 g/t Gold over 3.05 meters at Naybob South on its Ogden Property in Timmins, Ontario.
Jun 08, 2010 (TheNewswire.ca via COMTEX News Network) --
(via Thenewswire.ca)
Toronto, June 8, 2010. Metals Creek Resources Corp. (the "Corporation", TSXV: "MEK") is pleased to announce assays results from the first four holes from the recently completed ten hole diamond drill program on it's Ogden Gold Project in Timmins, Ontario. The project is an Option Agreement (the "Agreement") with Goldcorp Canada Ltd. and Goldcorp Inc. ("Goldcorp") to explore Goldcorp's Ogden gold property in Ogden and Deloro Townships located 6 kilometers south of Timmins city center. The agreement allows for the Corporation to earn a 50% interest in the project by incurring $3.1 million in expenditures and issuing a combination of cash and shares of $460,000 over 4 years. These claims cover eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp's Dome Mine Complex and Lakeshore Gold's West Timmins development project. The current program, previously announced by the Corporation, consisted of ten diamond drill holes totaling 2,150 meters targeting Naybob South, Porphyry Hill and the Thomas Ogden Zones. Results of the first four holes, all of which targeted a well mineralized gold system at shallow depths in close proximity to a former high-grade gold producer on the Naybob South Zone, includes near surface intercepts of 4.89 g/t Gold over 3.05m and 1.03 g/t Gold over 22.5m.
Highlights:
OG10-036: 3.05m down hole intercept (63.15m to 66.20m) of 4.89 g/t Gold. This intercept was part of a broader zone of mineralization assaying 2.52 g/t Au over 8.52m.
OG10-023: 22.50m down hole intercept (27.50m to 50.00m) of 1.03 g/t Gold.
OG10-024: 1.00m down hole intercept (54.30m to 55.30m)) of 1.81 g/t Gold and 2.46m down hole intercept (70.38m to 72.84m) of 1.31 g/t Gold.
OG10-034: 2.42m down hole intercept (57.40m to 60.32m) of 2.93 g/t Gold and 6.0m down hole intercept (63.0m to 69.0m) of 1.4 g/t Gold and 1.80m down hole intercept (109.30m to 111.10) of 3.79 g/t Gold.
Note: True thicknesses of drill intercepts are approximately 60-80% of down hole intercepts.
This latest drill program was designed to test three emerging gold zones on the property including near surface mineralization within the Naybob South Zone, porphyry style mineralization within the Thomas Ogden Zone and the Porphyry Hill gold system. The four holes described in this press release were designed to infill areas of limited drilling in order to better define the geometry of the near surface high grade Naybob South gold zone. The Naybob South mineralization consisted of 1-30% pyrite and 1-4% arsenopyrite within strongly albitized, brecciated and quartz veined mafic volcanic. Assays for the remaining six holes will be released as they are received and compiled.
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, 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 CEOMetals Creek Resources Corptelephone: (709)-256-6060fax: (709)-256-6061email: astares@metalscreek.com
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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