| January 9, 2012 |
| Manson Creek Secures Diamond Drill For Tell Property in Yukon |
CALGARY, ALBERTA--(Marketwire - Jan. 9, 2012) - Manson Creek Resources Ltd. (TSX VENTURE:MCK) ('Manson Creek') is pleased to announce that a Diamond drill rig has been confirmed for the upcoming exploration season on the Tell property located in the Rackla Gold Belt in the Yukon. The Tell property, located immediately south of ATAC Resources Ltd. Rau claim block, witnessed the discovery of six additional mineralized natural spring gossans in 2011.
The Company has signed a contract with Cyr Drilling International Ltd. to provide a drill rig for the proposed 2012 drill program targeting the mineralized gossans on the Tell property. The 2012 exploration will entail detailed geological mapping, sampling and an IP geophysical survey prior to drilling. The drilling program, subject to a successful financing, will entail up to 2,000 meters of NQ core testing the most prospective targets on the property.
Tell Project Background
In 2011, Manson Creek outlined an area of 600 meters by 450 meters, hosting seven well developed natural spring gossans with highly anomalous metal signatures.
The Tell property hosts the large Tell gossan, cored by a kill zone of 75 meters by 240 meters, which has been held by Manson Creek since 2002. In 2011 Company geologists discovered six new, well developed active and previously active natural spring gossans; Crystal Springs, Ash Springs, Area 51, Roswell, Majestic and Corona. Soil and rock samples collected from all the zones have shown highly anomalous zinc, nickel and arsenic along with numerous other gold pathfinder elements. Additionally, property-wide stream sampling has outlined two additional, regional geochemical anomalies, Area 13 and Area 15 located 2 kilometers and 4 kilometers respectively from the main Tell gossan.
The gossans are the result of fluid movement through relatively shallow polymetallic zone(s) with the resultant strongly mineralized fluids reaching the surface and producing the identified gossanous zones. The Company speculates that the complex structural history of the region has produced a series of normal and other faults which have provided the plumbing system necessary for the fluids as well as elevating the mineralized zones closer to the modern day surface.
Manson Creek believes the seven Tell property gossans to be of extreme significance due to the number of successful drill discoveries made on similar gossans in the region. ATAC Resources Ltd.'s Ocelot discovery was made by targeting an undrilled natural spring surface gossan that has associated strongly anomalous zinc and other pathfinder element sample results. Like the Ocelot zone, the seven Tell property gossans are located near regional carbonate units within structurally complex geology in, and proximal to, the Rackla gold belt. The seven Tell property gossans have never been drill tested.
Corporate Update
Manson Creek is pleased to report that it has been approved for a Junior Exploration Assistance grant under the Newfoundland and Labrador Department of Natural Resources Mineral Incentive Program. The grant program offers a return of up to 50% of eligible exploration expenses incurred in 2011 to a maximum of $100,000. While the Company has completed expenditures in excess of $200,000 in the course of the Virgin Arm gold project work in 2011, the actual amount of the grant received is subject to a final determination by the granting agency.
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
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.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. | |