20:15:39 EDT Tue 07 May 2024
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or Name
USA
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Metals Creek Resources Corp (2)
Symbol MEK
Shares Issued 157,843,466
Close 2023-11-29 C$ 0.03
Market Cap C$ 4,735,304
Recent Sedar Documents

Metals Creek samples 18.7 m of 1.04 g/t Au at Shabaqua

2023-11-29 10:33 ET - News Release

Mr. Alexander Stares reports

METALS CREEK CHANNEL SAMPLES 1.04 G/T GOLD OVER 18.7 METERS AT THE RECENTLY DISCOVERED ECHO ZONE ON THE SHABAQUA CORNERS GOLD PROPERTY AND RE-EVALUATES TILLEX CU-PROJECT, LAST DRILLED IN 2011 WITH 85.48 METERS AT 1.65% COPPER

Metals Creek Resources Corp. has released additional results from mechanical surface trenching on the Shabaqua Corners gold property (SCGP).

Channel sample results from the recently completed trenching program (see Metals Creek's news release dated Sept. 7, 2023) targeting multiple prospective gold targets have been received for the recently discovered Echo zone (EZ) (see Metals Creek's news release dated Aug. 16, 2023). Highlights include 1.04 grams per tonne gold over 18.70 metres in continuous channel sampling. Mineralization is hosted within pervasive iron carbonate/silicified altered greywacke with associated 0.25 per cent to 3 per cent pyrite plus or minus arsenopyrite and crosscutting quartz-carbonate stringers and veins. The main stratigraphy hosting the gold mineralization is striking roughly 100 degrees to 110 degrees with dips essentially vertical, similar to other parts of the Shebandowan greenstone belt. Quartz-carbonate veins and stockwork crosscut stratigraphy striking southwest at approximately 230 degrees and predominately dip to the northwest at various inclinations, including occasional flat-lying veins. In addition, grab samples consisting mainly of quartz-carbonate vein material at Echo assayed up to 18.4 grams per tonne gold. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)

Prospecting and mechanical trenching on the SCGP have resulted in the discovery of several new zones and styles of gold mineralization. It has become evident within several zones of mineralization (Echo zone and Main zone) that an alteration halo consisting mainly of iron carbonate and silicification ranging from 50 metres to 100 metres in width forms part of a mineralized trend across the whole property. The presence of quartz veinlets/stringers as well as cubic pyrite plus or minus arsenopyrite appears to be a key indicator for gold mineralization. Higher concentrations of quartz-carbonate vein stockworks and pyrite have a strong correlation for higher gold grades; however, even without any quartz veinlets present, the host rock within this alteration halo can still contain anomalous gold. Gold mineralization on the property has similar characteristics to that of gold mineralization to the east of the Shabaqua Corners gold property (SCGP) with the presence of quartz-carbonate stockworks with multiple generations of quartz veins, pervasive carbonatization, mineralization at or near volcanic/sedimentary contact and similar-style mineralization (pyrite and arseonopyrite).

The property is located within the Shebandowan greenstone belt, approximately 54 kilometres west of Thunder Bay, Ont., near Shabaqua Corners and on trend to Delta Resources' Delta 1 project. The property has seen very little exploration work.

Alexander (Sandy) Stares, president and chief executive officer of Metals Creek, stated, "With the limited amount of exploration work that has been historically performed in this portion of the Shebandowan greenstone belt, we are highly encouraged about the exploration potential for additional discoveries based on our new gold discoveries to date over a short period of time."

The eastern boundary of the property is located 1.57 kilometres west of Delta Resources' drill hole DL-22-18, which returned an intercept of 5.92 grams per tonne gold over 31 metres (source: Delta Resources' new release dated Oct. 31, 2022). Trenching conducted on Delta's ground 390 metres east of the property boundary returned an interval of 2.22 grams per tonne gold over eight metres (source: Delta Resources' website).

All samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. Samples with fire assay results above one gram per tonne gold are reanalyzed using a gravimetric finish and samples with fire assay results above 5.0 grams per tonne gold or samples showing visible gold are analyzed using the pulp metallic method.

In addition, the company is re-evaluating its 85-per-cent-owned Tillex copper project, located in Currie township, 65 kilometres east of Timmins, Ont. The Tillex copper deposit demonstrates near-surface potential with the majority of the mineralization within 150 metres of surface. The Kidd Creek base metal mill is located 45 kilometres by road from the deposit.

With Canada's critical minerals strategy for Canada to become a global supplier of choice for critical minerals as well as the recent rise in the price and demand for copper, the company has decided to further evaluate the prospect of potentially drilling additional holes within the historic Tillex copper deposit. A near-surface non National Instrument 43-101 compliant mineral resource of 1,338,000 tonnes grading 1.56 per cent copper was calculated in 1990 for the Tillex deposit (Pacifica Resources Ltd., 2005-6 Canadian Mines Handbook, page 318); however, management notes that this calculation does not meet the standards as outlined in NI 43-101, Standards of Disclosure for Mineral Projects, and has not been independently validated or verified by the corporation and should not be relied upon.

Metals Creek embarked on two small but successful drill programs on the Tillex copper deposit -- one in 2008 and the latest one in 2011. Select highlights from this drilling is in the attached table.

Michael MacIsaac, PGeo, vice-president, exploration, for the corporation and a qualified person as defined in NI 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 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 TSX Venture Exchange under the symbol MEK. Metals Creek has earned a 50-per-cent interest in the Ogden gold property from Newmont Corp., including the former Naybob gold mine, located six kilometres south of Timmins, Ont., and has an eight-kilometre strike length of the prolific Porcupine/Destor fault. In addition, Metals Creek owns and/or has option agreements in place to acquire a 100-per-cent interest in claims in the Shabaqua Corners area of Northwestern Ontario.

Metals Creek also has multiple quality projects available for option which can be viewed on the company's website. Parties interested in seeking more information about properties available for option can contact the company.

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