Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

April 03, 2012 09:00 ET

Metals Creek Reports Initial Results From its 2012 Drill Program at the Thomas Ogden Zone in Timmins, Ontario

- Intersects 1.946 g/t Gold Over 47.0 m and 3.758 g/t Gold Over 17 m in Hole TOG 12-08

- Discovers New Zone Two Km West of Thomas Ogden, Along the Porcupine-Destor Stratigraphy

TORONTO, ONTARIO--(Marketwire - April 3, 2012) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) is pleased to report initial assay results from the first three holes completed on its current diamond drill program on the Ogden Gold Project in Timmins, Ontario.

Results from this current program include two drill holes targeted at the near surface gold mineralization within the Thomas Ogden Zone (TOZ) and a third hole completed 2 km west of the Thomas Ogden Zone. Hole TOG-12-08 returned two gold intersections, including an upper zone between 70.0m and 117.20m which assayed 1.946 g/t (grams per tonne) gold over 47m (meters). The second, lower zone was intersected between 155.0m and 172.0m and assayed 3.758 g/t gold over 17.0m including 17.497 g/t gold over 3.0m (156.0m to 159.0m). Both the upper and lower zones are described as strongly altered porphyry and conglomerates with associated pyrite, arsenopyrite, strong silicification and visible gold. This hole was drilled to fill in a 55 meter gap between previous drill holes TOG-10-20 and TOG-10-22. The second Thomas Ogden hole, TOG 12-01, was drilled 25m west of TOG-12-08 and also encountered two similar gold zones with the upper zone returning 0.679 g/t gold over 9m between 83.0m and 92.0m. The lower zone assayed 0.572 g/t gold over 12m between174m and 186m. The recent drilling on the TOG is focused on defining the geometry of the folded mineralized stratigraphy, using a nominal 25 meter step out pattern. Assays are pending for an additional 5 holes that are either completed or currently in progress on the Thomas Ogden Zone.

The third hole reported herein (OG 12-001) was designed to test a ground geophysical IP (Induced Polarization) target 2 km west of the Thomas Ogden Zone. This hole returned an intercept of 8.32 g/t over 0.59 meters within mineralized argillite. The lithology of the hole is described as being similar to that of the Thomas Ogden stratigraphy and is proximal to the projected extension of the Porcupine-Destor Fault, indicating the continuation of prospective mineralization to the western portion of the property. There has been very limited exploration work carried out in this area.

Note: Due to the complex nature of the mineralized stratigraphy, true widths are unknown at this time.

Alexander (Sandy) Stares, President and CEO of the corporation states, "Management continues to be impressed with the results of drilling on the Thomas Ogden zone. In addition there are still a number of IP targets on the western portion of the property that remain to be drill tested."

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 Lake Shore Gold's West Timmins development project. Metals Creek is earning 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 four 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 Corporation's 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 showing visible gold are analyzed using the pulp metallic method. Note: Due to locally significant folding, true widths of the reported zones are unknown at this time.

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.

Contact Information

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

    MI3
    Neil Murray-Lyon
    (514) 904-1333 or (514) 947-4847

    MI3
    Ben Sherman
    (514) 904-1333 or (514) 835-1781