Manson Creek Resources Ltd.

Published : April 15th, 2014

Manson Creek Provides a Corporate and Technical Update

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Keywords :   Barium | Cobalt |

Manson Creek Provides a Corporate and Technical Update

CALGARY, ALBERTA--(Marketwired - Apr 15, 2014) - Manson Creek Resources Ltd. (TSX VENTURE:MCK) ("Manson" or "the Company") is pleased to provide a technical overview on its Tell Property, Yukon, in conjunction with its current financing and 2014 planned exploration program, including first pass drill testing of the Tell target.

The Tell Property, located some 140 kilometers north east of Mayo, Yukon, was initially staked by Manson as a high priority target in 2002, following extensive field work in the region from 1998 to 2002. The property consists of 103 claims covering a surface area of roughly 2,150 hectares, 100% owned by Manson.

Due to poor market conditions at the time and lack of activity in the region, the property did not see significant work except for a number of short field programs that occurred in 2005, 2011 and 2012. Surface prospecting and geochemical sampling in 2005 and 2011 outlined the presence of 7 significant zones of metal bearing gossanous material at surface, occurring either as coatings on exposed rocks and talus (Main Tell gossan), as zones of iron oxide coated soils and surface materials, or as active sinters/spring sources. The uppermost 5 main gossans define a zone oriented east-west, and approximately 600 meters in strike length.

These gossans all carry high level of various metals including zinc, nickel, cobalt, as well as anomalous amounts of tracer materials such as cobalt, barium, arsenic, mercury and locally silver. A compilation table of the ranges of elements for each gossan is presented below (see NR 12-14, Sept. 14/12).

Location Number of Samples and Type Zinc
ppm
Nickel
ppm
Arsenic
ppm
Silver
g/t
Roswell 2 Soil Samples 5,795 to 7,149 >1,000 966 to 1,114
Crystal Springs 6 Soil Samples 6,005 to 23,500 245 to >1,000 4.0 to 110
Ash Springs 3 Soil/Silt Samples 10,800 to 24,500 425 to >1,000 114 to 358 -
Ash Springs 3 Rock Samples 19,700 to 27,500 1,056 to 1,591 10 to 25 0.6 to 1.0
Area 51 4 Soil/Silt Samples 4,738 to 8,565 164 to >1,000 1,149 to 1,816
Majestic 7 Soil Samples 12,500 to 17,700 808 to >1,000 18 to 33 0.1 to 0.2
Corona 1 Soil Sample 15,600 973 31 0.1
Tell Zone (Historical Sampling) 4 Soil/Silt Samples 20,020 to 49,600 1,545 to 2,560 16 to 103
Tell Zone 8 Rock Samples
(Ferricrete)
15,700 to 24,900 401 to 604 8 to 30

Of significance, there is a large zone of abnormally stunted vegetation, also known as a "kill zone", which is framed by the known gossans. These zones often develop due to high acidity in soils as well as high metal contents that can be related to underlying sources of mineralization. The core of this kill zone is approximately 1 km long in an east-west direction with widths varying between 100 to 500 meters.

In 2005, a small grid of soil sampling centered around the main Tell gossan was performed, consisting of 4 lines, 100 meters apart and with sampling every 25 meters along each line. This outlined a zone 400 meters by 400 meters with anomalous zinc values above 100 ppm (parts per million), with a core area roughly 240 meters by 75 meters with values ranging between 10,000 to 49,600 ppm (1 to 5%) zinc, and a coincident 250 to 2600 ppm (0.26%) nickel anomaly. Barium, cobalt and silver were also found to be anomalous in various parts of the grid. (NR-11-11 - August 22/11 and NR 12-14 - September 14/12)

In 2012, an induced polarization surface geophysical survey grid was established to cover the area of the main gossan trend and associated kill zone. The survey outlined a large zone of low electrical resistivity, or conductivity (800 meters in length by 150 to 250 meters in width) with a coincident chargeability anomaly (500 meters by 100 meters in width). Both the conductivity and chargeability anomalies extend to the maximum survey depth (to 400 meters), and also extend beyond the actual grid, and remain open (NR-12-14, September 14, 2012).

Preliminary field mapping of the target area to date has not identified any geological unit at surface that could be responsible for the metal signatures or geophysical anomalies revealed by the surveys, and it is interpreted that a shallow metal bearing massive sulphide VMS/Sedex type target may be the source of the anomalies. This interpretation is supported by extensive historical regional work identifying both volcanic rocks and exhalative units in the region.

The correlation of the zones of high conductivity and chargeability with known gossans, the extensive vegetation kill zone and known metal signatures found in all gossans and in the soil grid all support a priority drill target, and also suggests that further work regionally should be undertaken to identify additional targets. A presentation of the project can be found at www.manson.ca.

In March 2014, Manson Creek entered into an Letter of Intent agreement with Guatavita Gold Corp., a private non-arm's length company, to create a Strategic alliance to conduct further exploration at the existing Tell property and regionally (NR 14-02, March 20, 2014). The Guatavita/Manson (or "Guaman") alliance is anticipating a two phase program of regional and focused exploration to advance the project to and through the drill stage, subject to completion of the previously announced financing. Total program expenditures are anticipated to be $1 million dollars in two stages, for which Guatavita may earn a 50% interest in the Manson Property by contributing $650,000 of the expenditures, at which point a Joint Venture will be formed. The project operator is Manson.

The 2014 exploration program consists of a first phase regional airborne helicopter supported Mag/EM geophysics aimed at defining the extent of the Tell conductor, as well as identifying any similar conductors in the region. This work will be followed up with ground checking, mapping and sampling of any new conductors, as well as completion of an extensive soil grid over the remainder of the Tell target that was not previously fully covered with systematic sampling. This first phase of work is currently budgeted at $368,000, and subject to financing being in place, is estimated to take place between May and June. The second phase of work will consist of drill testing of the large untested conductor with a minimum program of 800 meters of Diamond drilling, in a minimum of four drill holes across the coincident zone of conductivity/chargeability and surface gossan formation. This second phase of work is currently budgeted at $632,000, and is anticipated to take place mid-July to mid-August. The program has been fully permitted.

Pursuant to TSX Venture Exchange policies, Manson will be commissioning an independent technical report prepared in accordance with NI 43-101, which will be filed on SEDAR once completed. This is required as part of the Exchange approvals required for the LOI transaction with Guatavita Gold Corp. on the Tell property as announced on March 20th 2014, and subsequent announcement of the financing and restructuring of the Company as announced on March 26, 2014. This report is to be completed by the end of June, 2014.

It is anticipated that the restructuring announced by the Company will be completed within the next week, and the financing closing on a post consolidation basis shortly thereafter.

Samples were forwarded to the Eco Tech Laboratory Stewart Group in Whitehorse, Yukon for analysis. The Stewart Group Lab are an independent certified commercial laboratory All of the soil and rock samples were analyzed using inductively coupled plasma (ICP) together with mass spectrometry (MS) finish. Gold was analyzed by a fire assay preparation with an atomic absorption spectroscopy finish.

The President of Manson Creek Resources Ltd., Jean-Pierre Jutras, P.Geol., is the Qualified Person responsible for the preparation of this news release.

On Behalf of the Board of Directors,

Jean-Pierre Jutras, President/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.

Read the rest of the article at finance.yahoo.com

Manson Creek Resources Ltd.

EXPLORATION STAGE
CODE : MCK.V
ISIN : CA5644491063
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Manson Creek Res. is a silver and gold exploration company based in Canada.

Manson Creek Res. holds various exploration projects in Canada.

Its main exploration properties are VIRGIN ARM, BLACK LAKE, MERIDIAN, CR, CUPRUM and PALOMINO in Canada.

Manson Creek Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 10.0 millions as of today (US$ 7.6 millions, € 6.2 millions).

Its stock quote reached its highest recent level on July 29, 2011 at CA$ 1.80, and its lowest recent point on April 15, 2016 at CA$ 0.01.

Manson Creek Res. has 31 250 000 shares outstanding.

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Financings of Manson Creek Resources Ltd.
4/30/2014Closes Financing
11/2/2012Manson Creek Closes First Tranche in Non-Brokered Financing
11/1/2012Closes First Tranche in Non-Brokered Financing
10/15/2012Manson Creek Announces Non-Brokered Financing
10/15/2012Announces Non-Brokered Financing
5/17/2012Manson Creek Completes $106,000 Non-Brokered Financing
4/17/2012Manson Creek Announces Non-Brokered Financing
Nominations of Manson Creek Resources Ltd.
6/18/2012Manson Creek Appoints Interim Chief Financial Officer
Project news of Manson Creek Resources Ltd.
11/14/2013Provides Exploration Update
8/12/2013Closes the Option of the Up Town Gold Project, NWT
7/24/2013Commences Field Work on Grommet Property in Yukon and Approv...
11/5/2012Manson Creek Reports Exploration Underway on Up Town Gold Pr...
7/25/2012Manson Creek Identifies Large Target Beneath =?ISO-8859-1?Q?...
6/13/2012Manson Creek Reports Exploration Underway on Tell Project in...
4/30/2012Manson Creek Provides Up Town Gold Project Update
1/24/2012Manson Creek Acquires Gold Project Adjacentto 7 Million Ounc...
1/9/2012Manson Creek Secures Diamond Drill For Tell Property in Yuko...
8/22/2011Manson Creek Confirms Mineralized Gossans at the Tell Proper...
8/8/2011Manson Creek Completes Diamond Drilling On Virgin Arm Gold P...
7/25/2011Manson Creek Discovers Three New Gossans on Tell Project, Yu...
7/14/2011Manson Creek Commences Diamond Drilling on its Virgin Arm Go...
7/14/2011(Virgin Arm)Commences Diamond Drilling on its Virgin Arm Gold Project
6/27/2011(Cr)Exploration Underway on Manson Creek's Yukon Project
6/22/2011(Cr)Douglas Bryan, Manson Creek Resources Ltd. Director, Passes ...
5/25/2011Trenching Program Underway on Manson Creek's Virgin Arm Gold...
5/25/2011(Virgin Arm)Trenching Program Underway on Manson Creek's Virgin Arm Gold...
5/5/2011(Virgin Arm)Receives 2011 Exploration Permits and Secures Diamond Drill
5/4/2011Manson Creek Receives 2011 Exploration Permits and Secures D...
Corporate news of Manson Creek Resources Ltd.
7/14/2015Manson Creek Appoints Cornell McDowell as a Director and Pro...
12/22/2014December 12 2014: Manson Creek Terminates Option on Uptown G...
12/22/2014Manson Creek Terminates Option on Uptown Gold Property, NWT
9/22/2014Manson Creek Outlines Large Anomalous Silver-Zinc Intersecti...
8/20/2014Manson Creek Completes Phase 1 Drilling at the Guaman Projec...
7/23/2014Manson Creek Announces Filing of a 43-101 Report on the Guam...
7/14/2014Manson Creek Announces Results of Annual & Special Meeting a...
6/23/2014Manson Creek Completes Phase 1 Program on the Guaman Project...
4/22/2014Manson Creek Resources Ltd.: Completion of Share Consolidati...
4/15/2014Manson Creek Provides a Corporate and Technical Update
1/10/2014Announces Change of Auditor
11/26/2013President and Director Resigns from Manson Creek
3/12/2013Manson Creek Options the Up Town Gold Proj =?ISO-8859-1?Q?ec...
3/12/2013Options the Up Town Gold Project, NWT to Petro-Occidente Cap...
1/22/2013Manson Creek Extends Gold Mineralization at Up Town Gold Pro...
1/22/2013Extends Gold Mineralization at Up Town Gold Project, NWT
9/14/2012Manson Creek Provides Corporate Update
9/14/2012Provides Corporate Update
6/26/2012Manson Creek Finds Widespread High Grade Gold and Silver at ...
5/24/2012Manson Creek Announces Annual Meeting Results
4/16/2012Manson Creek Provides Corporate Update
3/30/2012Manson Creek Extends Warrants
9/7/2011Manson Creek Intersects 5=2E75 g/t Gold Over 1=2E0 Meter at ...
7/19/2011Manson Creek Expands Tell Claim Block, Yukon
7/19/2011Expands Tell Claim Block, Yukon
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