Metals Creek Resources Corp.

TSX VENTURE : MEK


Metals Creek Resources Corp.

February 26, 2014 07:30 ET

Metals Creek Resources Reports 81.75% Silver Recovery in Addition to Previously Reported 92.0% Gold Recovery from Bottle Roll Tests Completed on Samples from Squid East Project, Yukon

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2014) - Metals Creek Resources Corp. (TSX VENTURE:MEK) (the "Company" or "Metals Creek") reports silver results from bottle roll cyanide extraction test work, reporting an average of 81.75% silver recovery from drill core and trench samples at the Squid East project. Previously, Metals Creek reported bottle roll tests averaging 92% gold recovery from the same zone. (See news release dated 14 January 2014).

The analysis was carried out to provide preliminary metallurgical information on MEK's new gold-silver discovery located in west central Yukon. This new discovery included values of 1.96 grammes per tonne (g/t) gold and 160.6 g/t Ag over 22.0 meters from trenching and 1.55 g/t gold and 114.1 g/t Ag over 21.0 m from subsequent drilling (see MEK press releases dated August 6, 2013 and October 8, 2013). The recent precious metal results enhances the potential of the zone and the possibility for a near surface bulk tonnage gold/silver system. The mineralized zone is characterized as a highly weathered sericite schist with associated porphyritic sections and remains completely open both along strike and down dip. Additionally, the thickness of the zone has not been ascertained as the three holes which intersected the zone all collared in mineralization. This new discovery, located in the northwest extension of the White Gold District, is within the unglaciated portion of the Yukon, proximal to an existing placer mine and trail accessible.

The silver results, reported here, were obtained from four samples collected from drill core and channel samples. The bottle roll cyanidation process confirmed that the silver recovery in these samples averaged 81.75% indicating that the weathered material could potentially react well to leach extraction methods. Silver recoveries for these four samples ranged from 60.6 to 92.6% and averaged 81.75%. Silver grades for these four samples ranged from 53.7 g/t to 158 g/t. Table 1, below, details the silver results.

Table 1. Bottle Roll Cyanidation Performance (Silver)


Test No
Sample ID P80
µm
NaCN
g/L
Measured
Ag (g/t)
Calc. Head
Ag (g/t)
Recovery
Ag (%)
Residue
Ag (g/t)
C7 1308705 95 1.0 138 163.5 89.7 16.9
C8 SE13-01-006 182 1.0 53.7 51.5 60.6 20.3
C9 SE13-02-005 174 1.0 81.6 80.5 84.1 13.0
C10 SE13-02-015 96 1.0 158 161.8 92.6 12.0

In a news release dated 14 January 2014, Metals Creek reported gold recoveries for six samples which ranged from 83.8 to 95.7% and averaged 92% overall. Gold grades for these six samples ranged from 0.71 grammes per tonne (g/t) Au to 9.99 g/t Au. The following table details those results.

Table 2. Bottle Roll Cyanidation Performance (Gold)


Test No
Sample ID P80
µm
NaCN
g/L
Measured
Au (g/t)
Calc. Head
Au (g/t)
Recovery
Au (%)
Residue
Au (g/t)
C1 1308701 80 1.0 8.55 8.18 95.7 0.35
C2 1308707 89 1.0 2.53 2.76 91.0 0.25
C3 SE13-001-005 86 1.0 1.95 1.98 93.2 0.14
C4 SE13-002-007 106 1.0 0.71 0.68 83.8 0.11
C5 SE13-002-008 103 1.0 9.99 8.36 95.1 0.41
C6 SE13-002-013 101 1.0 1.76 1.58 93.4 0.11

Alexander (Sandy) Stares, President & CEO of Metals Creek Resources, stated, "We are highly encouraged with the precious metal recoveries obtained from the strongly weathered host rock at Squid East. These positive results help enhance the potential of the mineralization and reinforce management's high regard for the project."

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.

The samples were comprised of reject material from the above noted core and channel samples which were delivered to Inspectorate Exploration & Mining Services Ltd. of Vancouver, B.C. The silver assays were obtained utilizing a standard fire assay with an atomic absorption finish. The bottle roll cyanidation process entailed grinding to 105µm and leaching for 72 hours at 40 wt% solids in 1.0 g/L NaCN based on a 300g sample size.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a 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". The Ogden Property is held under a joint venture in which Metals Creek owns 50% and is the operator, and Goldcorp Canada Ltd. ("Goldcorp") owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) and is located 6 km south of Timmins, Ontario. Metals Creek also holds approximately 15% interest in Sokoman Iron Corp. (TSX VENTURE:SIC). The Corporation has also recently made a new gold/silver discovery in the "White Gold District" on the Squid East project in the Yukon. Metals Creek is 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.

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