Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

October 08, 2013 07:30 ET

Metals Creek Resources Corp.: Drilling at Newly Discovered "Exploits Zone" Returns 1.54 g/t Gold and 114 g/t Silver Over 21m on Squid East Property in the White Gold District, Yukon

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2013) - Metals Creek Resources Corp. (TSX VENTURE:MEK) is pleased to announce that final assay results have been received from its recently completed four hole (428 meter) drill program at the Exploits Zone on the Squid East Project in the Yukon. The recent results show the new zone to have significant gold and silver mineralization returning assay results up to 1.54 grammes per tonne (g/t) gold (Au), 114 g/t silver (Ag) and 0.31% lead (Pb) over 21 meters (m) in hole SE13-002. This hole also contained a higher grade zone of 2.43 g/t Au and 185 g/t Ag and 0.47% Pb over 12 meters.

The drill program targeted mineralization recently reported (News Release: Sept. 12, 2013) from the completed trenching program and has an associated strong northwest trending gold plus pathfinder element soil anomaly. This program was designed to obtain a better understanding of the geometry and style of mineralization encountered at the Exploits Zone. The initial three holes appear to have all collared in the zone and the fourth hole, which was drilled in the opposite direction, was drilled down dip and remained in the interpreted footwall for its entire length. A table of results is shown below:

Hole From
(m)
To
(m)
Length
(m)
Au g/t Ag g/t Pb %
SE13-001 9.00 21.00 12.00 1.699 81.775 0.312
SE13-002 12.00 33.00 21.00 1.547 114.121 0.315
incl. 14.00 26.00 12.00 2.431 185.254 0.470
SE13-003 6.50 13.00 6.50 0.371 39.892 0.664
SE13-004 NO SIGNIFICANT ASSAYS

The trenching and drilling carried out over the past season was intended to find a bedrock source to the strong gold plus pathfinder soil anomaly defined in 2012. Results to date indicate that the trenching and drilling may have clipped the eastern side of a gold-silver alteration system which is wide open for expansion. The intersected mineralization is completely oxidized and the combined gold and silver values make this zone somewhat unique in the White Gold District. A more systematic drill program is being contemplated for 2014. Metals Creek would also like to thank the Yukon Government for its support of this project through a financial contribution from the Yukon Mining Incentive Program (YMIP).

All split core samples were sent to Acme Analytical Laboratories Ltd located in Vancouver, B.C. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish and the lead assays were fire assay with an ICP 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.

GTA can earn an initial 51% interest in the Squid East property from Metals Creek Resources Corp. ("MEK") and can increase its interest to 70% as previously announced in a press release dated 12 January 2013. MEK will be the operator during the initial earn-in period.

MEK initially staked the Yukon properties in February, 2011 and has a 100% interest in four separate claim blocks (242 claims) within the White Gold District. The Squid East claims are located proximal to the Matson Creek placer gold operations, approximately 90km southwest of Dawson City. A four wheel drive access road and airstrip service the placer camp and MEK's current field work availed of the placer camp airstrip, accommodations and equipment to help carry out the program. During the trenching program, a six km access trail was completed from the Matson Creek four wheel drive road to the target area making access more cost effective.

The Corporation also announces it is currently in the final planning stage of an upcoming drill program on its Flagship Ogden gold project in the Timmins Mining Camp. Details will be released once finalized.

Michael MacIsaac, P. Geo, 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 a well funded junior exploration company 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 has earned 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 (P-DF) 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, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.

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
    MetalsCreek.com

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