Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

June 21, 2010 08:00 ET

Metals Creek Intersects 8.22 g/t Gold Over 4.40 Metres at Thomas Ogden Zone in Timmins, Ontario

- Most significant grade x thickness intercept to date from Thomas Ogden Zone

- Setting analogous to recent high-grade discoveries and historic multi-million ounce gold deposits in Timmins.

TORONTO, ONTARIO--(Marketwire - June 21, 2010) - Metals Creek Resources Corp. (the "Corporation) (TSX VENTURE:MEK) is pleased to announce a high-grade intercept of 8.22 g/t gold over 4.40 meters from one of three holes which tested the Thomas Ogden Zone. This is the most significant intercept from the Zone to date and occurs at a vertical depth of only 110 meters. The Thomas Ogden Zone occurs at the contact between mafic volcanic rocks of the Tisdale Group and a porphyry intrusion, a setting which is analogous to that which hosts the majority of the larger gold deposits in the 70 million ounce Timmins Gold District and the recent high-grade gold discovery at Thunder Creek 10 km to the west. The gold mineralization in hole TOG-08-10 is hosted at the porphyry-volcanic contact and is part of a broader intercept of 2.26 g/t gold over 18.00 meters, the majority of which is hosted by the porphyry.

"We are very encouraged with the results of the recent program on the Ogden Project in Timmins." said Sandy Stares, President and CEO of Metals Creek. "The good grade and thickness demonstrated by the Thomas Ogden and Naybob South Zones, along with the Main Naybob Zone, provide three targets for immediate follow-up and we continue to be impressed with the strong alteration in the Porphyry Hill area."

Highlights:

TOG-10-08: 4.4m down hole intercept (145.60m to 150.0m) of 8.22 g/t Gold. This intercept was part of a broader zone of mineralization assaying 2.26 g/t Au over 18.0m within an area of limited drilling.

OG-10-035: 4.07m down hole intercept (56.00m to 60.07m) of 1.46 g/t Gold and 3.28m down hole intercept (103.72m to 107.0m) of 3.42 g/t Gold. This hole was designed to test the 100m vertical elevation within the Naybob South Zone within an area of limited drilling.

TOG-10-02: 1.95m down hole intercept (310.0m to 311.95m) of 1.22 g/t Gold Hole TOG-10-09 returned assays of 0.45 g/t Gold over 4.03m exhibiting strong carbonatization and sericite alteration.

PH10-002: 0.84m down hole intercept (63.16m to 64.00m) of 1.14 g/t Gold

PH10-001 only returned anomalous Gold values but did exhibit strong carbonatization and hematization at the northern contact.

Note: Due to the limited amount of drilling in this area, true widths are not known at this time.

This latest phase of drilling consisted of ten holes for a total of 2150 meters designed to test three separate target areas, all proximal to the Porcupine Destor Fault. Results were released for the initial four holes targeted on the Naybob South Zone on June 8, 2010. This latest news release includes results from the final six holes, three of which were targeted on the Thomas Ogden zone, two on the Porphyry Hill mineralization and one testing the 100m elevation within the Naybob South Stratigraphy. Both the Naybob South and Thomas Ogden Zones are developing into zones of near surface gold mineralization and this recent drilling has helped define the geometry of the gold shoots. Additional drilling will continue in late summer or early fall once the preliminary modeling of the zones geometry is finalized. Drilling at the third target, Porphyry Hill, was designed to investigate the down plunge extent of mineralization found in previous drilling. Hole TOG-10-08 which was drilled at the Thomas Ogden Zone within an area of limited near surface drilling and exhibited strong carbonatization and albitization with associated pyrite and arsenopyrite mineralization. The only other hole on this section was hole TOG-10-02 which was drilled 85m vertically below. Visible gold was noted in hole TOG-10-08 at the porphyry contact and additional follow-up drilling is planned.

The Ogden Gold Project is under Option from Goldcorp Canada Ltd. and Goldcorp Inc. ("Goldcorp"). The Ogden Project covers eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp's Dome Mine Complex and Lakeshore Gold's West Timmins development project. Metals Creek can earn a 50% interest in the Project by incurring $3.1 million in expenditures and issuing a combination of cash and shares totaling $460,000 over 4 years.

All split core samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays to Actlabs located in Thunder Bay, Ontario. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.

Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek can earn a 50 % interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (PDF) that stretches between Timmins, Ontario and Val'Dor, Quebec. The Corporation is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to the Corporation. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Corporation has no intention or obligation to update the forward-looking statements contained in this press release.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/Figure1metalscreekmap.pdf

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Contact Information

  • Metals Creek Resources Corp
    Alexander (Sandy) Stares
    President and CEO
    (709) 256-6060
    (709) 256-6061 (FAX)
    astares@metalscreek.com