Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

December 13, 2010 09:00 ET

Metals Creek Intersects 1.08 g/t Gold Over 54.7 Meters at Thomas Ogden Zone in Timmins, Ontario

- Most significant near surface intercept to date from Thomas Ogden Zone

- Gold zone within porphyry style mineralization in an area previously untested

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2010) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) is pleased to announce assay results from its ongoing 2500 meter drill program on the Ogden Gold Project in Timmins, Ontario, which is under option from Goldcorp Canada Ltd. and Goldcorp Inc. Highlights of the results includes an intersection of 1.08 g/t (grams per tonne) gold over 54.70m (meters) from a near surface intercept in drill hole TOG-10-020 which was targeted on the Thomas Ogden Zone. This intercept is hosted within altered porphyry with associated pyrite mineralization and strong silicification and represents the most significant near surface drill intercept to date within the Thomas Ogden Zone. The hole was drilled in a southerly direction, as opposed to previous drill holes which were drilled in a northerly direction, and in the process drilled through an area previously untested while trying to attain a near surface intercept within the steeply dipping zone. Hole TOG-10-020 collared in the porphyry unit and remained in this unit until intercepting the Thomas Ogden stratigraphy 30m above hole TOG-10-08 which had a previously reported intersection of 8.22 g/t gold over 4.4m (see MEK press release dated June 17, 2010) . The Thomas Ogden Zone occurs within the Porcupine-Destor Fault, at the contact between mafic volcanic rocks of the Tisdale Group and a porphyry intrusion, a setting which is analogous to the majority of the larger gold deposits in the 70 million ounce Timmins Gold District. The Ogden property covers an 8 km strike length of the Porcupine-Destor Fault and is located along strike from Goldcorp's Dome Mine Complex, 8 km to the east, and Lakeshore Gold's West Timmins development project, 10 km to the west.

"Management is highly encouraged with this new near surface gold mineralization within porphyry style mineralization as it demonstrates the potential for a low grade bulk tonnage resource in close proximity to existing infrastructure within a world class gold camp."

Drill results include:

TOG-10-020: Targeted on the Thomas Ogden Zone - 54.7m down hole intercept (83.00m to 137.7m) at 1.08 g/t gold, including two higher grade portions of 1.15m (110.85m to 112.0m) of 16.986 g/t gold and 2.0m (118.0 m to 120.0m) of 5.03 g/t gold.

OG10-006: Targeted on a peripheral Induced Polarization anomaly – no significant results

OG10-005: Targeted on a peripheral Induced Polarization anomaly –returned a 1.07m intercept of 1.15 g/t gold (174.33 m to 175.4m).

Note: Due to the limited amount of drilling in the Thomas Ogden area, true widths and orientation of the porphyry unit are not known at this time.

Drilling is continuing on the Thomas Ogden Zone and a second drill has been added to further investigate near surface mineralization within the Naybob South Zone and peripheral exploration targets outside of the mineralized zones. Additional drill results will be released when they are received and compiled. 

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