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Manson Creek Resources Ltd.

Publié le 24 janvier 2012

Manson Creek Acquires Gold Project Adjacentto 7 Million Ounce Gold Producer

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Manson Creek Resources Ltd.
TSX VENTURE: MCK
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January 24, 2012
Manson Creek Acquires Gold Project Adjacent to 7 Million Ounce Gold Producer
CALGARY, ALBERTA--(Marketwire - Jan. 24, 2012) - Manson Creek Resources Ltd. ('Manson Creek') (TSX VENTURE:MCK) is pleased to report that it has entered into an option with Panarc Resources to acquire a 100% interest in the Up Town Gold project located adjacent to the historic Giant mine in the Northwest Territories.

The 3,388 hectare property has 5 known gold bearing zones hosted in an Archean granodiorite adjacent to the Yellowknife greenstone belt which boasts over 12 million ounces of gold production from the nearby Giant and Con mines. Historic work on the Up Town Gold property, done primarily in the 1960's, focused on the narrow quartz filled shears and associated quartz veins while largely ignoring the larger zones of hydrothermally altered host granodiorite. The shear zones, associated fractures and quartz veins vary from millimeter widths to well over 3.0 meters and they commonly are surrounded by a broader alteration halo. Alteration consists of silicification and sericitization with hematite alteration present as well. Mineralization is exposed at surface with exposures of tens of meters common with many stretching for hundreds of meters.

Until recently, gold exploration has focused primarily on volcano-sedimentary greenstone belts, seeking structurally controlled mesothermal lode-gold deposits while the adjacent granitoid rocks have been largely ignored as hosts for gold mineralization. A growing number of significant bulk minable lode-gold deposits have been found in Archean granitic rocks and there is a growing awareness that they constitute a separate deposit class - referred to as Granitoid Hosted Lode Gold deposits.

Several of the gold bearing zones on the Up Town Gold property had historical estimates completed in the 1960's with over 2,500 meters of diamond drilling completed. In many of the historic assessment reports there is mention of hydrothermally altered host rock but no systematic sampling was ever conducted on these altered zones.

Table 1. Historic Gold Zones - Selected Significant Results

----------------------------------------------------------------------------
                                                              Gold Grades(i)
Zone                                 Historic Work         grams/tonne (g/t)
----------------------------------------------------------------------------
Rod                              Multiple trenches     28.0 g/t to 93.9 g/t 
             greater than 2,300 m diamond drilling                         
----------------------------------------------------------------------------
J Group                          Multiple trenches       2.0 g/t - 61.0 g/t 
                            Minor diamond drilling                          
----------------------------------------------------------------------------
C4                               Multiple trenches     53.0 g/t to 77.0 g/t 
----------------------------------------------------------------------------
Fox South                        Multiple trenches       0.5 g/t - 3.94 g/t 
----------------------------------------------------------------------------
Rose                             Multiple trenches                 17.1 g/t 
----------------------------------------------------------------------------
 
(i) NOTE: Historical reported assays submitted in assessment reports

A due diligence visit conducted by Company personnel in December located many of the historical areas of trenching. Shovelling of snow allowed for limited exposure of the located Rod and J Group trenches and thirteen rock samples were collected from silicified shear and vein material as well as altered wall rock. Nine grab samples were taken at various trenches in the Rod zone and four samples were taken from a trench in the J Group zone with the results summarized below. The Rod samples returned an average of 11.2 g/t gold with two of the grab samples returning high grade gold grades of 49.6 g/t and 19.2 g/t gold. The J Group samples averaged 0.13 g/t gold with trace silver in the limited sampling. The assays show high grade zones occur within broader halos of lower grade mineralization and are consistent with the Granitoid Hosted Lode Gold deposit exploration model.

Table 2. Due Diligence Sampling Summary

----------------------------------------------------------------------------
           Number of Samples                    Gold                 Silver 
Zone      Collected and Type             grams/tonne            grams/tonne 
----------------------------------------------------------------------------
Rod           9 Grab Samples   0.008 g/t to 46.6 g/t   less than 0.1 g/t to
                                                       greater than 100 g/t
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
J Group       4 Grab Samples   0.004 g/t to 0.45 g/t   less than 0.1 g/t to
                                                                    0.3 g/t 
----------------------------------------------------------------------------
 
Samples were forwarded to Acme Labs in Yellowknife, Northwest Territories for analysis with all of the rock samples 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.

Manson Creek may acquire a 100% interest in the Up Town Gold property over a four-year period by expending $500,000 in exploration and making staged cash payments and common share issuances totaling $300,000 and 400,000 common shares of the Company respectively. Panarc Resources will retain a 2.5% NSR (Net Smelter Royalty), of which 60% (1.5% NSR) may be purchased at Manson Creek's election for $1,500,000. An advance payment on royalties totaling $120,000 would be payable monthly in $20,000 increments upon acceptance by Manson Creek or its successors of a bankable feasibility study.

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.

CONTACT INFORMATION:

Manson Creek Resources Ltd.
Regan Chernish
1.403.233.0464
www.manson.ca

INDUSTRY: Manufacturing and Production - Mining and Metals

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Manson Creek Resources Ltd.

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CODE : MCK.V
ISIN : CA5644491063
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Manson Creek Res. est une société d’exploration minière d'argent et d'or basée au Canada.

Manson Creek Res. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont VIRGIN ARM, BLACK LAKE, MERIDIAN, CR, CUPRUM et PALOMINO au Canada.

Manson Creek Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 10,0 millions CA$ (7,6 millions US$, 6,2 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 juillet 2011 à 1,80 CA$, et son plus bas niveau récent le 15 avril 2016 à 0,01 CA$.

Manson Creek Res. possède 31 250 000 actions en circulation.

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Financements de Manson Creek Resources Ltd.
30/04/2014Closes Financing
02/11/2012Manson Creek Closes First Tranche in Non-Brokered Financing
01/11/2012Closes First Tranche in Non-Brokered Financing
15/10/2012Manson Creek Announces Non-Brokered Financing
15/10/2012Announces Non-Brokered Financing
17/05/2012Manson Creek Completes $106,000 Non-Brokered Financing
17/04/2012Manson Creek Announces Non-Brokered Financing
Nominations de Manson Creek Resources Ltd.
18/06/2012Manson Creek Appoints Interim Chief Financial Officer
Projets de Manson Creek Resources Ltd.
14/11/2013Provides Exploration Update
12/08/2013Closes the Option of the Up Town Gold Project, NWT
24/07/2013Commences Field Work on Grommet Property in Yukon and Approv...
05/11/2012Manson Creek Reports Exploration Underway on Up Town Gold Pr...
25/07/2012Manson Creek Identifies Large Target Beneath =?ISO-8859-1?Q?...
13/06/2012Manson Creek Reports Exploration Underway on Tell Project in...
30/04/2012Manson Creek Provides Up Town Gold Project Update
24/01/2012Manson Creek Acquires Gold Project Adjacentto 7 Million Ounc...
09/01/2012Manson Creek Secures Diamond Drill For Tell Property in Yuko...
22/08/2011Manson Creek Confirms Mineralized Gossans at the Tell Proper...
08/08/2011Manson Creek Completes Diamond Drilling On Virgin Arm Gold P...
25/07/2011Manson Creek Discovers Three New Gossans on Tell Project, Yu...
14/07/2011Manson Creek Commences Diamond Drilling on its Virgin Arm Go...
14/07/2011(Virgin Arm)Commences Diamond Drilling on its Virgin Arm Gold Project
27/06/2011(Cr)Exploration Underway on Manson Creek's Yukon Project
22/06/2011(Cr)Douglas Bryan, Manson Creek Resources Ltd. Director, Passes ...
25/05/2011Trenching Program Underway on Manson Creek's Virgin Arm Gold...
25/05/2011(Virgin Arm)Trenching Program Underway on Manson Creek's Virgin Arm Gold...
05/05/2011(Virgin Arm)Receives 2011 Exploration Permits and Secures Diamond Drill
04/05/2011Manson Creek Receives 2011 Exploration Permits and Secures D...
Communiqués de Presse de Manson Creek Resources Ltd.
14/07/2015Manson Creek Appoints Cornell McDowell as a Director and Pro...
22/12/2014December 12 2014: Manson Creek Terminates Option on Uptown G...
22/12/2014Manson Creek Terminates Option on Uptown Gold Property, NWT
22/09/2014Manson Creek Outlines Large Anomalous Silver-Zinc Intersecti...
20/08/2014Manson Creek Completes Phase 1 Drilling at the Guaman Projec...
23/07/2014Manson Creek Announces Filing of a 43-101 Report on the Guam...
14/07/2014Manson Creek Announces Results of Annual & Special Meeting a...
23/06/2014Manson Creek Completes Phase 1 Program on the Guaman Project...
22/04/2014Manson Creek Resources Ltd.: Completion of Share Consolidati...
15/04/2014Manson Creek Provides a Corporate and Technical Update
10/01/2014Announces Change of Auditor
26/11/2013President and Director Resigns from Manson Creek
12/03/2013Manson Creek Options the Up Town Gold Proj =?ISO-8859-1?Q?ec...
12/03/2013Options the Up Town Gold Project, NWT to Petro-Occidente Cap...
22/01/2013Manson Creek Extends Gold Mineralization at Up Town Gold Pro...
22/01/2013Extends Gold Mineralization at Up Town Gold Project, NWT
14/09/2012Manson Creek Provides Corporate Update
14/09/2012Provides Corporate Update
26/06/2012Manson Creek Finds Widespread High Grade Gold and Silver at ...
24/05/2012Manson Creek Announces Annual Meeting Results
16/04/2012Manson Creek Provides Corporate Update
30/03/2012Manson Creek Extends Warrants
07/09/2011Manson Creek Intersects 5=2E75 g/t Gold Over 1=2E0 Meter at ...
19/07/2011Manson Creek Expands Tell Claim Block, Yukon
19/07/2011Expands Tell Claim Block, Yukon
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