CALGARY, ALBERTA--(Marketwired - July 24, 2013) - Manson Creek Resources Ltd. ('Manson Creek') (News - Market indicators) is pleased to announce that work has commenced on the Grommet property, located 200 kilometers east of Whitehorse, Yukon and that it has been approved for a Yukon Mining Assistance Program ('YMIP') grant on the grubstaked Grommet property. The grant will reimburse 50% of qualifying expenditures to a maximum of $25,000.
The Grommet property is comprised of 14 mineral claims located in the Watson Lake Mining District. The property was first examined briefly in the in the early 1980's following up on coincident copper-molybdenum stream sediment anomalies on the property. The grass root work that was completed outlined a 3500 meter by 650 meter molybdenum in soil anomaly. Coincident with the molybdenum were anomalous copper, lead and silver. The historic work did not include assaying for gold. The property is now being explored for a copper-molybdenum-gold porphyry system.
The current work program consists of comprehensive soil sampling, prospecting and geological mapping to delineate the gold potential of the property. The 2013 work is following up on the brief prospecting and reconnaissance soil sampling conducted on the property in 2012. The 2012 reconnaissance soil sampling survey outlined defined a soil geochemical gold anomaly in the northern portion of the property with peak values of 335 parts per billion (ppb). These strongly anomalous gold values are significant as the property was glaciated and has an immature soil profile. Another significant discovery of the 2012 program was a grab sample of vein material in southern portion of the property which returned 2.04 grams per tonne gold. The results of the 2012 reconnaissance program demonstrated that the porphyry system carries gold in addition to copper and molybdenum.
The grubstake agreement with the vendor on the Grommet property allows Manson Creek to explore the property with the current program with a planned budget of up to $50,000. The work will then give the Company exclusive right to enter option agreement discussions 90 days following receipt of final exploration report with the analytical results. The Company is excited to have up to 50% of the current exploration program funded by outside capital.
The President of Manson Creek Resources Ltd., Regan Chernish, P.Geol., is the Qualified Person responsible for the preparation of this news release.
Regan Chernish, P. Geol., President and Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Manson Creek's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek's filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements.
