TORONTO, ONTARIO–(Marketwired – May 3, 2017) – Metals Creek Resources Corp. (TSX VENTURE:MEK) (the “Company”) is pleased to announce the discovery of gold mineralization located one kilometer (km) west of the Thomas Ogden Zone (TOZ) in the Timmins Gold Camp. Results have been received from the first two holes of a four hole 980m (see MEK news release March 30, 2017) diamond drill program designed to further evaluate stratigraphy west of TOZ.
Hole OG17-002 was collared to test a geophysical Induced Polarization (IP) target and was successful in intersecting two zones of gold mineralization. The first zone, which is interpreted to be the main zone, intersected 3.97 meters (m) (96.88m to 100.85m) of 4.96 grams per ton (g/t) Gold (Au) within a broader zone which assayed 3.07 g/t Au over 8.22m. This intercept is characterized by pervasive albitization and silicification with associated pyrite-arsenopyrite mineralization as well as visible gold, which is similar to the main zone at TOZ. A second zone, further down the hole, returned a core length intercept (129m to 143m) of 1.43 g/t Au over 14m. This mineralization is hosted within a strongly altered felsic dyke with visible gold and is similar to footwall mineralization in the TOZ. Significant folding of the stratigraphy has been identified, a key indicator in the TOZ area to potentially host higher-grade gold mineralization along the fold hinges.
The second hole, OG17-01 was drilled 150m west of hole OG17-02 and also intersected stratigraphy typical of the TOZ, returning a down hole intercept (76.0m to 93.0m) of 0.24 g/t Au over 17m.
Management is highly encouraged by this latest discovery exhibiting similar alteration and mineralization to that of TOZ and other deposits in the Timmins Camp consisting of albitization, silicification, with associated pyrite, arsenopyrite and minor amounts of galena, sphalerite and visible gold. An updated longsection and a surface plan are available on the Company’s website at www.metalscreek.com
Results from the remaining two holes will be released once results are received and compiled.
The Ogden Property is held under a joint venture in which Metals Creek owns 50%, 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.) with MEK being the operator of the project. The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp’s 16 million oz. Dome Mine and Tahoe Resources West Timmins Mine. The vast majority of the Porcupine-Destor Fault on the property is underexplored, compared to other properties in the Timmins Gold camp.
Reported drill intercepts are not true widths. At this time there is insufficient data to calculate true orientations.
All split core samples were sent to Activation Laboratories, an accredited laboratory in Ancaster, 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 showing 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 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”. 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 Company has also recently entered into an Option/JV with Trifecta Gold Ltd. on Metals Creek’s Squid properties in Yukon. Metals Creek also has a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland as well as two option agreements with Anaconda Mining Inc. on Metals Creek’s Jacksons Arm and Tilt Cove Properties also in Newfoundland. The company 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.
Alexander (Sandy) Stares
President and CEO
(709)-256-6060
(709)-256-6061 (FAX)
astares@metalscreek.com
www.metalscreek.com
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