Mr. Alexander Stares reports
METALS CREEK MAKES TWO NEW GOLD DISCOVERIES AT CARELESS COVE IN NEWFOUNDLAND
Metals Creek Resources Corp. has discovered two new zones of gold mineralization as well as expanded previously outlined gold mineralization at the Careless Cove property in Newfoundland.
The Careless Cove property is located within and adjacent to New Found Gold Corp.'s Queensway high-grade gold project and approximately 12 kilometres southwest of New Found Gold's Keats Zone Drilling.
Prospecting by Metals Creek on the Careless Cove property in 2020 (see news release dated Dec. 9, 2020) uncovered gold mineralization composed of quartz breccia with disseminated pyrite and quartz vein hosted pyrite/arsenopyrite. Grab samples returned assays of 7.39 grams per tonne, 0.47 g/t and 4.15 g/t gold.
Prospecting carried out by Metals Creek at Careless Cove in December, 2024, resulted in the discovery of two new zones of gold mineralization. The first discovery (Lillian zone) is composed of silicified sediments with quartz stringers with nil to trace finely disseminated pyrite. Two samples were taken with assays of 4.1 g/t and 0.83 g/t gold.
The second new discovery (Diana zone) lies approximately 150 metres northeast of the Lillian zone. Four samples have been collected from this location with two returning assays of 1.61 g/t and 2.82 g/t gold hosted by silicified siltstones with associated quartz veins and finely disseminated pyrite. Two other samples from the same general location returned assays of 1.66 g/t and 0.26 g/t gold hosted within a quartz breccia with finely disseminated pyrite and weakly mineralized chert with no visible mineralization, respectively.
A third zone of mineralization initially discovered in 2020 (see news release dated Dec. 9, 2020) resulted in the discovery new gold mineralization with assays of 7.39 g/t, 0.47 g/t and 4.15 g/t gold hosted within silicified sediments with vuggy quartz and trace to 2 per cent pyrite and arsenopyrite. Follow-up prospecting this past December resulted in high-grade rubble material 50 m to the north with two samples assaying 13.34 g/t and 9.00 g/t gold, also within silicified sediments with vuggy quartz, pyrite and arsenopyrite. This third zone is located 530 m west of the newly discovered Lillian zone.
Management is highly encouraged with results to date which include the identification of two new gold showings and further extend a third zone of mineralization 50 metres to the north. These gold showings show a strong spacial association of gold-in-soil anomalies from samples collected in 2021. Three other highly prospective soil anomalies remained untested and will be the focus of a coming prospecting program once conditions allow. It should also be noted that only approximately 35 per cent of the property has been covered by soils. Soils also show a strong correlation between arsenic in soils to gold assays mentioned above. These anomalies also exhibit a northeasterly trend and close association with regional northeast-trending regional structures.
Metals Creek is also evaluating the exploration potential of the Careless Cove property to host antimony-bearing mineralization (stibnite) similar to that of the Beaver Brook mine located 29 kilometres to the southwest. Pathfinder elements are present in soils including zinc, lead, iron, arsenic and antimony. Careless Cove is also located in close proximity to the Dog Bay Line northeast-trending regional structure same as the Beaver Brook antimony mine. Several anomalous grab samples have returned antimony assays up to 0.27 per cent. These results are highly encouraging considering no exploration has been conducted on Careless Cove specifically looking for Sb.
Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.
Follow-up sampling from the newly discovered areas will commence once ground and snow conditions allow.
Analyses in this release were performed by Eastern Analytical of Springdale, Nfld., with ISO 17025 accreditation. Samples were transported in sealed bags to Eastern, and all samples were assayed using industry standard assay techniques for gold. Gold was analyzed by a standard 30-gram fire assay with an AA finish.
Wayne Reid, PGeo, a director for the corporation, 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 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-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.
Metals Creek also has multiple quality projects available for option which can be viewed on the company's website
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