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Manson Creek Resources Ltd. ('Manson
Creek') (TSX VENTURE:MCK - News) is pleased to announce
the discovery of 10 new gold bearing occurrences on the Virgin Arm Project,
Newfoundland. Work to date continues to demonstrate the previously
unrecognized wide spread gold mineralization on the property.
Manson Creek geologists examined many of
the high priority geophysical and geochemical anomalies identified in the
late summer exploration program. It was found that the majority of the
anomalies are located in areas of abundant vegetation and ground cover with
hand dug pits revealing many of the latest discoveries in and around the
priority areas (Map 1). Significant discoveries include the Lake Shore, GBY,
Knob and Barney West showings. The Lake Shore showing, which is 25 meters by
at least 3 meters wide before it disappears under cover, returned grab sample
assays to 0.675 grams/tonne (g/t) gold. This new
area is located proximal to the Hank zone. The Homer zone has been extended a
further 40 meters by the discovery of the GBY showing which is over 4 meters in width with surface chip samples returning
values to 0.491 g/t gold. Additional discoveries were found in a
series of pits over 4.1 kilometers of strike length with further trenching
required to develop a better understanding of the orientation and degree of
mineralization. Prospecting the southern portion of the block resulted in two
new discoveries; the Knob and Barney West which are located 430 meters east
and 120 meters west of the Barney zone respectively (Map 1).
Regan Chernish,
P.Geol. President of the Company commented
"The discovery of 10 new gold zones on the Virgin Arm property is very
significant in demonstrating the regional extent of the gold mineralization
that is present. Assay values received from the surface sampling is on par
with results taken in the original due diligence visit to the property.
Follow up on those areas resulted in the outlining of large zones of gold
mineralization with values over meter scale widths of up to 10 grams/tonne. Work planned going forward will continue to expand
the open ended gold zones at Hank and Homer as well as examining and
expanding the recently discovered gold zones."
Table 1. Significant New Zones
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Gold Grams per
Anomaly / Zone Status Sample Type Tonne
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Lake Shore New Discovery Outcrop grab 0.114 to 0.675
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GBY New Discovery Outcrop surface chips 0.010 to 0.491
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Piranha North New Discovery Grab sample from hand dug pit 0.197
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Knob New Discovery Outcrop grab 0.039 to 0.127
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The rock samples were delivered to
Eastern Analytical Ltd. in Springdale, Newfoundland for analysis. Gold was
assayed by standard fire assay methods with 30 additional elements analyzed
by Induced Coupled Plasma (ICP). Laboratory duplicates and blanks were
inserted in the sample series order to ensure optimum precision and accuracy.
With the November 3, 2010, $1,058,000
financing Manson Creek is well positioned to undertake its planned 2011
Virgin Arm exploration program. The program will include detailed soil sampling, prospecting, geological mapping and trenching
that will lead to diamond drilling in mid to late 2011.
Background
Gold has now been found in a mineralized
corridor of 4.2 kilometers by up to 800 meters on the Virgin Arm property in
three trenched zones; Hank, Homer, and Barney, and 10 newly discovered gold
zones. Each of these zones is an excellent target for significant new gold
resources with high grade gold values to 10.07 grams per tonne
(g/t) found within zones of lower grade gold mineralization. The Company has
demonstrated that a widespread, previously unrecognized, gold system is
present at the Virgin Arm property and that there is excellent potential for
the discovery of a large, bulk tonnage style gold mineralized system
The President of Manson Creek Resources
Ltd., Regan Chernish P.Geol.,
is the Qualified Person responsible for preparation of this news release.
Regan Chernish,
P. Geol., President and Director
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.
To view the associated map, please visit
the following link: http://media3.marketwire.com/docs/1115mck_map1.pdf
The TSX Venture Exchange has neither
approved nor disapproved of the contents of this press release.
Contact:
Regan Chernish
Manson Creek Resources Ltd.
President and Director
1.403-233-0464
www.manson.ca |