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Metals Creek Resources Corp. (the
"Corporation") (TSX VENTURE:MEK - News) is pleased to announce assay
results from its ongoing 2500 meter drill program on the Ogden Gold Project
in Timmins, Ontario, which is under option from Goldcorp Canada Ltd. and
Goldcorp Inc. Highlights of the results includes an intersection of 1.08 g/t
(grams per tonne) gold over 54.70m (meters) from a
near surface intercept in drill hole TOG-10-020 which was targeted on the
Thomas Ogden Zone. This intercept is hosted within altered porphyry with
associated pyrite mineralization and strong silicification
and represents the most significant near surface drill intercept to date
within the Thomas Ogden Zone. The hole was drilled in a southerly direction,
as opposed to previous drill holes which were drilled in a northerly
direction, and in the process drilled through an area previously untested
while trying to attain a near surface intercept within the steeply dipping
zone. Hole TOG-10-020 collared in the porphyry unit and remained in this unit
until intercepting the Thomas Ogden stratigraphy
30m above hole TOG-10-08 which had a previously reported intersection of 8.22
g/t gold over 4.4m (see MEK press release dated June 17, 2010) . The Thomas
Ogden Zone occurs within the Porcupine-Destor
Fault, at the contact between mafic volcanic rocks
of the Tisdale Group and a porphyry intrusion, a setting which is analogous
to the majority of the larger gold deposits in the 70 million ounce Timmins
Gold District. The Ogden property covers an 8 km strike length of the
Porcupine-Destor Fault and is located along strike
from Goldcorp's Dome Mine Complex, 8 km to the east, and Lakeshore Gold's
West Timmins development project, 10 km to the west.
"Management is highly encouraged
with this new near surface gold mineralization within porphyry style
mineralization as it demonstrates the potential for a low grade bulk tonnage
resource in close proximity to existing infrastructure within a world class
gold camp."
Drill results include:
TOG-10-020: Targeted on the Thomas Ogden
Zone - 54.7m down hole intercept (83.00m to 137.7m) at 1.08 g/t gold,
including two higher grade portions of 1.15m (110.85m to 112.0m) of 16.986
g/t gold and 2.0m (118.0 m to 120.0m) of 5.03 g/t gold.
OG10-006: Targeted on a peripheral
Induced Polarization anomaly - no significant results
OG10-005: Targeted on a peripheral
Induced Polarization anomaly -returned a 1.07m intercept of 1.15 g/t gold
(174.33 m to 175.4m).
Note: Due to the limited amount of
drilling in the Thomas Ogden area, true widths and orientation of the
porphyry unit are not known at this time.
Drilling is continuing on the Thomas
Ogden Zone and a second drill has been added to further investigate near
surface mineralization within the Naybob South Zone
and peripheral exploration targets outside of the mineralized zones.
Additional drill results will be released when they are received and
compiled.
The Ogden Gold Project is under Option
from Goldcorp Canada Ltd. and Goldcorp Inc. ("Goldcorp"). Metals
Creek can earn a 50% interest in the Project by incurring $3.1 million in
expenditures and issuing a combination of cash and shares totaling $460,000
over 4 years.
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 exhibiting visible gold are
analyzed using the pulp metallic method.
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.
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-d'Or, 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.
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.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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