Manson Creek Resources Ltd.

Manson Creek Resources Ltd.

December 01, 2009 13:18 ET

Manson Creek Secures 100% Ownership of Meridian Gold Project

CALGARY, ALBERTA--(Marketwire - Dec. 1, 2009) - Manson Creek Resources Ltd. ('Manson Creek') (TSX VENTURE:MCK) is pleased to announce that it has satisfied the terms of the Meridian gold project option agreement and now owns 100% of the property subject to an underlying Net Smelter Return to the vendor.

While the focus of upcoming exploration work will be on the recently acquired Virgin Arm gold project in Newfoundland, the ownership of the Meridian gold project is an important milestone as Manson Creek builds a solid portfolio of early stage, under explored, gold projects.

Meridian Gold Project Background - The Company has outlined an extensive gold mineralized system over an area of 1,100 meters by 860 meters that remains open along strike and to depth. Significant gold values in drill core and outcrop, ranging from 2 g/t to 194 g/t gold, occur within this system.

The Meridian property contains five historic past producing gold - silver mines on the road accessible, 675 hectare claim block. Until the mineral tenure was secured by Manson Creek, the historically fragmented status of the mineral tenures prevented any exploration in the area. Of particular interest to the Company is the down dip extension of the Eva mine which was in limited production from 1901 to 1908 and produced 543,000 grams of gold.

Black Lake Property Update - Manson Creek has also completed the earn in requirements on the Black Lake uranium project in northern Saskatchewan. Work completed by the Company outlined uranium mineralization along the 5 kilometer long Charlebois Lake Zone. Drilling in this zone returned significant intercepts of 0.179% U3O8 over 2.51 meters (m) and 0.118% U3O8 over 1.97m. These intersections are hosted within broad, moderately mineralized pegmatites grading 0.080% U3O8 over 6.52m and 0.040% U3O8 over 11.86m respectively. The results of the drilling on the Charlebois Lake Zone support the Company's belief that the region has the potential to host a 'Rossing' style uranium deposit. Manson Creek is actively investigating opportunities to option out the Black Lake project or attract Joint Venture partners to further exploration on the property.

The Qualified Person responsible for this news release was the President of the Company, Regan Chernish, P.Geol.

Regan Chernish, P. Geol., President and Director

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and plans and objectives of Manson Creek Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Manson Creek Resources Ltd.
    Regan Chernish, P. Geol.
    President and Director
    (403) 233-0464