Toronto, Ontario--(Newsfile Corp. - July 23, 2019) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek or the "company") is pleased to provide an update on the compilation work currently being performed on the recently optioned Dona Lake property.
Dona Lake which was optioned from Newmont Goldcorp (see news release dated 13 June 2019) was an underground operation from 1989 to 1994 producing 246,500 ounces of gold at a grade of 7.44 grams per tonne (g/t) (Source: 2015 Institute of Lake Superior Geology Fieldtrip Guidebook). In 1994, when the mine closed, the average gold price was approximately $383.23 (US) per ounce. (Source; https://onlygold.com/Info/Historical-Gold-Prices.asp).
Gold mineralization at the Dona Lake Mine is hosted within three prominent banded iron formations (BIF's) with the middle iron formation hosting the Dona Lake Mine (Main Zone) which remains open at depth below the 455 meter (m) level with limited drilling along strike.
Over the past few weeks, company personnel have been compiling data on the past producing Dona Lake Mine to try and determine what mineralization remains outside the area of selective historic mining. During compilation, it was determined that the deepest hole found to date was drilled approximately 100m below the mine workings of the Main Zone (455m). This hole (455-2) returned a down hole intercept of 4.36 g/t Gold over 21.08 meters indicating the continuation of mineralization at depth below the bottom level (455 Level) of the Dona Lake Mine.
Reported intercept is not true width. At this time there is insufficient data to calculate a true orientation.
A second zone (B Zone), footwall to the Main Zone, was partially drilled off but only saw limited development and test mining and is open at depth with limited drilling along strike. B Zone is defined as a steeply plunging zone with selective historic intersections including 14.17 g/t Au over 15.31 m, 9.9 g/t Au over 10.6 m, 7.85 g/t Au over 5.85m and 12.44 g/t Au over 4.6m.
The company continues to compile historical data which includes drill hole lithologies, down hole surveys and assays. Underground workings and geological information from both underground and surface will be digitized for the purpose of generating a 3D model of the historic mine as well as prospective targets along strike to aide in drill target generation. In addition, the airborne time-domain electromagnetic (EM) and magnetic (MAG) geophysical survey system is expected to commence towards the latter portion of this month.