Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

April 26, 2011 09:00 ET

Metals Creek Intersects 3.16 g/t Gold Over 13.4 Meters Within Porphyry Style Mineralization at Thomas Ogden Zone in Timmins, Ontario

TORONTO, ONTARIO--(Marketwire - April 26, 2011) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) is pleased to announce assay results from the initial two holes of its recently completed 7 hole 2,210 meter diamond drill program on the Ogden Gold Project in Timmins, Ontario, which is under option from the Porcupine Joint Venture, a joint venture between Goldcorp Canada Ltd. and Goldcorp Inc.

Results from the latest drilling targeted on the Thomas Ogden Zone include an intercept (265.0m to 278.4m) from hole TOG-11-01 of 3.16 g/t (grams per tonne) gold over 13.4m (meters) within an altered porphyry including a higher grade portion of 5.37 g/t gold over 5.2m This hole was collared 25m above a previously released hole TOG-10-11 (see MEK news release January 11, 2011) which returned a down hole intercept of 5.0m assaying 5.83 g/t gold. The second hole (TOG-11-07) intersected 2.04 g/t gold over 3.0 m between 200.0m and 203.0m and a lower zone assaying 3.08 g/t gold over 2.36m between 245.7m and 248.06m). This hole is the furthest west hole drilled by the Corporation to date. A total of 7 holes were drilled in this latest drill program, targeting the Thomas Ogden Zone. The remaining 5 holes will be released as assays are received and compiled.

(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.

Results were also received from a ground IP (Induced Polarization) geophysical program on the portion of the property to the west of the Thomas Ogden zones where very little exploration has taken place. This IP program has identified at least 4 high priority exploration targets that the Corporations intends to test in the near future. Subsequent to this, the grid has been extended and the IP program is ongoing.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
    astares@metalscreek.com