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CALGARY, ALBERTA--(Marketwire - Nov. 19, 2012) - Manson Creek Resources Ltd. ('Manson Creek') (News - Market indicators) is pleased to announce that Phase Two exploration is now complete on the Up Town Gold project in the Northwest Territories.
Phase Two exploration work entailed channel sampling the Fox South Zone, J Zone and C Zone utilizing rock saws to representatively sample the glacially smoothed bedrock. The channel sampling is oriented across the strike length of a number of significantly mineralized shears and into altered granodiorite country rock where possible with 152 channel samples collected.
A number of shear zones not examined in previous work were prospected in the course of this program. The discovery of additional shear zones 140 meters to the south of the known gold and silver mineralized Fox South Zone has now extended that zone to over 475 meters. Additionally, two 500 meter extensions of several of the gold mineralized C Zone shear zones were discovered and sampled.
A small man portable drill was successfully utilized to test the strike length of the J3 zone, grading 7.99 grams/tonne gold and 35.56 grams/tonne silver in earlier sampling. Two shallow holes of 10 and 19 meters depth that were spaced 35 meters apart along strike, bracketed the gold and silver mineralization discovered in Phase One.
Samples from each zone were submitted separately and Manson Creek anticipates receiving results in approximately 4 to 6 weeks.
Up Town Gold Project Background
The Up Town Gold property is within sight of two historic gold producers, the Giant and Con gold mines that have produced over 12,000,000 ounces of gold. The property encompasses five known gold bearing zones hosted in Archean granodiorites. Manson Creek has completed reconnaissance prospecting and sampling over much of the core of the 3,388-hectare property. Gold mineralization, often with significant silver mineralization, extends over three kilometers of strike in the Rod, Fox South, J7 and C areas (Map of showing locations and Phase One sampling can be found at www.manson.ca).
Significant results included 22 of the 91 samples collected returning gold grades between 1.30 grams/tonne (g/t) gold to 113.5 g/t gold with silver locally in excess of 100 g/t. The shear zones, associated fractures and quartz veins vary from millimeter widths to well over 3.0 meters and they commonly surrounded by a broader alteration halo. The alteration consists of silicification and sericitization with hematite alteration. Mineralization is present at surface with exposures varying between tens to hundreds of meters.
Manson Creek closed its first tranche of a non-brokered private placement on November 1, 2012, for 2,500,000 Common Units at a price of $0.05 per Common Unit and 1,200,000 Flow Through Units at a price of $0.05 per Flow Through Unit for gross proceeds of $185,000. Manson Creek has completed its planed fall program and will not be closing the final tranche of Flow Through Units.
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.