Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

May 19, 2011 09:00 ET

Metals Creek Continues to Expand Near Surface and Deeper Zones at Thomas Ogden Zone in Timmins, Ontario

- Thomas Ogden intercepts highlighted by 9.41 g/t gold over 3.28 meters; demonstrates continuity of high-grade zone.

- TOG North Zone returns near surface intercept of 1.02 g/t gold over 34.45 meters; extend near surface mineralization to 145 meters.

TORONTO, ONTARIO--(Marketwire - May 19, 2011) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) is pleased to announce assay results for the final five holes of its recently completed 7 hole 2,210 meter diamond drill program on the Ogden Gold Project in Timmins, Ontario. The results demonstrate the continuity of both the near surface TOG North Zone and the high-grade Thomas Ogden Zone. The Ogden Gold Project is under option from the Porcupine Joint Venture, a joint venture between Goldcorp Canada Ltd. and Goldcorp Inc.

Results from this latest round of drilling targeted both the recently discovered, near surface TOG North Zone and deeper high-grade mineralization of the main Thomas Ogden Zone.

Follow-up testing of the near surface TOG North Zone intersected broad zones of gold mineralization in holes TOG-11-05 and -06 drilled respectively 25 meters east and 25 meters west of discovery hole TOG-10-21. TOG-11-06 returned 35.35 meters grading 1.02 g/t gold starting at a vertical depth of 57m. TOG-11-05 encountered deeper than anticipated overburden conditions, causing the hole to overshoot a portion of the mineralized zone. This hole collared in mineralization at a vertical depth of 46 meters and intersected 45.00 meters grading 0.51 g/t gold. Both holes were drilled from north to south on the Thomas Ogden North grid. Hole TOG-11-04, which was drilled from South to North due to logistical considerations and approximately 85m west of hole TOG-11-06, returned a 13.63m near surface intercept (140.04m to 153.67) of 1.05 g/t gold. The near surface TOG North mineralization has now been extended to 145 meters along strike.

Results from this latest round of drilling, which targeted both near surface and deeper mineralization at the Thomas Ogden Zone, are as follows:

HoleFrom (m)To (m)Interval (m)Grade g/tAuZone
TOG-11-02348.75366.8518.102.61TOG Deep
Including363.57366.853.289.41TOG Deep
And393.9398.915.011.10TOG Deep
TOG-11-03220.0226.006.000.33TOG Deep
And342.0342.370.371.12TOG Deep
TOG-11-04140.04153.6713.631.05TOG West
TOG-11-0570.0115.0045.000.51TOG North
And142.0147.305.301.32TOG
TOG-11-0688.00123.4535.451.02TOG North

Drilling of the main Thomas Ogden Zone continues to return promising results with the identification of two mineralized zones. The first with hole TOG-11-02, which returned a high-grade intercept of 9.41 g/t gold over 3.28 meters within a broader zone of mineralization of 2.61 g/t gold over 18.1m. This intercept is located 75 meters below TOG-11-01 which returned a high-grade intercept of 5.37 g/t gold over 5.20 meters (see News Release April 26, 2011). A second zone of mineralization at the northern ultramafic contact has been identified from a previously released hole TOG-10-11 which intersected 5.83 g/t gold over 5.00 meters (See MEK news release January 11, 2011). Hole TOG-11-02 had an intersect of 1.10 g/t gold over 5.30m within similar style mineralization 50m below the intersect from TOG-10-11. These results demonstrate continuity of the high grade mineralization of the Thomas Ogden Zone which remains open both to the east, west and at depth. A detailed cross section will be put on the website shortly illustrating the location of the drill hole intercepts.

Mr. Sandy (Alexander) Stares President and CEO of the Corporation states " These highly encouraging results demonstrate the continuation of high grade gold mineralization at depth with this zone remaining open for future expansion, as well as the expansion of the highly prospective gold mineralization near surface within the Thomas Ogden North Zone."

Additional drilling is currently being planned to follow-up on these results.

(Note: Due to the limited amount of drilling in the Thomas Ogden area, true widths and orientation of the mineralization is not known at this time)

The Thomas Ogden Zone is proximal to the Porcupine-Destor Fault and hosted by altered porphyries and mafic to ultramafic volcanic rocks analogous with the geological setting of the majority of the larger gold deposits in the 70 million ounce Timmins District. The Ogden property covers an 8 km strike length of the Porcupine-Destor Fault and is located 8 km west of, and along strike from Goldcorp's Dome Mine Complex and 10 km east of Lakeshore Gold's West Timmins development project. Since optioning the property from Goldcorp in 2008 the corporation has had success in drilling on four separate mineralized zones, Naybob North, Naybob South, Thomas Ogden and Porphyry Hill, all of which remain open for expansion.

The Ogden Gold Project is under Option from Goldcorp Canada Ltd. and Goldcorp Inc. ("Goldcorp"). 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. 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 exhibiting 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-d'Or, 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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