Mar 31 2017
Metals Creek Resources Corp. (TSX VENTURE:MEK) ("The Company") is pleased to announce that the company has completed its previous announced diamond drill program on the Ogden Gold Project in Timmins Ontario. (See News Release dated 3 March 2017). Results will be announced once drill core has been cut, submitted for analysis and assays are received and compiled. Drill hole locations are posted on the company's website at http://www.metalscreek.com/article/ogden-315.asp.
The Ogden Gold Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp") owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project. The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp's 16.5 million oz. Dome Mine and Tahoe Resources West Timmins Mine. The vast majority of the Porcupine-Destor Fault on the property is underexplored, compared to other properties in the Timmins Gold camp.
The Company also announces that they have received an exploration approval permit for drilling and exploration work on its 100% owned Clarks Brook Project in central Newfoundland. The property has been permitted for 7 drill holes.
The prospect was staked after a review of past work completed on the property and initial due diligence performed on the showing.
The Clark's Brook East Showing is comprised of large angular blocks that strongly resemble underlying bedrock. The mineralization consists of thin, commonly vuggy quartz (Qtz) veins and thin breccia veins with a quartz matrix, cutting an altered siltstone. The veins contain trace to minor pyrite and constitute a reticulating network of veins. The mineralized boulders contain 15 - 25% vein material, with moderate to strong silicification of the intervening siltstone. According to Altius Minerals Corporation Assessment report (Government of Newfoundland File number 002D_0763), "One breccia vein was noted to contain several tiny specks of visible gold. A relevant feature of this mineralization is that it is typically uniform throughout the boulders and representative samples all contain significant gold (minimum assay of 2.98 grammes per tonne (g/t), maximum assay of 24.5 g/t and an average assay of 7.93 g/t gold".
The assays quoted above are historic in nature, have not been validated and should not be relied upon.
Recent sampling by Metals Creek of the mineralization discovered in outcrop in the area of the boulders returned an assay of 19.24 g/t gold. In addition, thirteen (13) of the large angular blocks were sampled and yielded assays ranging from 0.24 g/t to 10.4 g/t gold. In 2009 Altius completed an induced Polarization (IP) and Magnetics survey that outlined targets but no drilling has been done on the geophysics targets or the gold mineralization. Five (5) drill holes have been permitted for Clarks Brook East.
At the Clarks Brook West Prospect, Sampling by Metals Creek returned outcrop samples ranging from 33 parts per billion (ppb) to 7,851 ppb gold (Au). Another outcrop grab sample in the same area assayed 86.1 % Lead and 25g/t silver.
The Clark's Brook West Showing is comprised of chalcedony quartz veins and quartz breccia cross cutting a granitic intrusion. Two (2) drill holes have been permitted for Clarks Brook West.
The surface grab samples mentioned in this news release are selective by nature and are unlikely to represent average grades of the property.
Metals Creek is actively seeking a joint venture partner for this project. Interested parties are encouraged to contact Alexander Stares at the contact listed below.
Wayne Reid (PGeo) is a director of the company and is responsible for the preparation of this News Release.