Precious Metals

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce results for 3 holes of a nine (9) hole diamond drill program (See News Release February 7, 2022) on the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 5050 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.

Drilling primarily focused on the Thomas Ogden Zone (TOG) with two peripheral targets also tested. Drilling at TOG targeted potential flat lying quartz bearing structures and zones of albitization and silicification with associated mineralization within the lowermost portion of the currently defined TOG fold structure. High grade gold mineralization has a strong preferential association with the TOG fold axis which has a shallow plunge to the east.

Highlights of the drilling include:

TOG-22-71 returned a downhole intercept (324.63 - 336.77m) of 1.13 grammes per ton (g/t) gold (Au) over 12.14 meters (m), visible gold was noted in this intercept. A second zone of mineralization (284.95 - 286.00m) was intercepted returning 12.3 g/t Au over 1.05m.

This hole was drilled to further define gold mineralization associated with the TOG fold structure (See attached Schematic Cross Section 1200W Fig. 1). This zone contains moderate to strong albitization, strong silicification and local fuchsite within an altered felsite unit. Fine-grained disseminated cubic pyrite is the dominant sulfide throughout as well as locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5%, with trace arsenopyrite and several fine specks of visible gold.

TOG-22-72 returned a downhole intercept (354.34 - 356.35m) of 4.71 g/t Au over 2.01m. A second zone of mineralization was cut (373.00 - 376.40m) returning 1.67 g/t Au over 3.4m. This hole (See attached Schematic Cross Section 1175W Fig. 2) was drilled 25m east of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022) to facilitate a better understanding of potential shallow dipping gold mineralization associated with secondary structures. Alteration consists of moderate to strong albitization and silicification within an altered conglomerate unit with local fuchsite. Fine-grained disseminated cubic pyrite occurs throughout and locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5% along with trace arsenopyrite.

TOG-22-73 returned a downhole intercept (346.25 - 351.86m) of 4.24 g/t Au over 5.61 m. This hole (See attached Schematic Cross Section 1225W Fig. 3) was drilled 25m west of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022). Like that of hole TOG-22-72, this hole was drilled to further define shallow dipping gold mineralization associated with secondary structures. A strongly altered felsite of intense albitization and silicification with associated wispy fuchsite alteration was intersected with fine-grained disseminated cubic pyrite throughout. Pyrite ranges from 1-5%with trace arsenopyrite and local fine specks of visible gold.

Table of significant results:

Drill Hole NumberFrom (m)To (m)Length (m)Grammes Per Ton GoldRemarks
TOG-22-71284.95286.001.0512.30
and313.15314.100.955.01
and324.63336.7712.141.13VG
TOG-22-72354.34356.352.014.71
and373.00376.403.401.67
TOG-22-73346.25351.865.614.24VG

 

Drill intercepts are core lengths and true width will be approximately 70 to 80% of drill intercept length. Further results will be released once received and compiled.

Remaining holes will be released once they are received and compiled.

All split core samples were sent to Activation Laboratories. 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.

Drill hole locations are provided in the map below (Fig. 4).

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Figure 4

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Michael MacIsaac, P. Geo and VP Exploration for the Company 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 from Newmont, including the past producing Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.

Additional information concerning the Company is contained in documents filed by the Company 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
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

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Figure 1 Cross Section 1200W

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Figure 2 Cross Section 1175W

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Figure 3 Cross Section 1225W

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The Clark's Brook Property is located in central Newfoundland, 25 km west of Glenwood and was originally staked in 2016 to cover two untested gold showings. Limited drill testing subsequent to the property acquisition had significant results up to 1.004 g/t Au over 25.8 m and 26.878 g/t Au over 0.25m. The 100% owned property consists of 31 claim units (7.7 sq. km.), surrounded by New Found Gold's Queensway Project.

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Metals Creek and Quadro has signed an agreement amending the terms of the Aug. 11, 2020, Yellow Fox/Careless Cove letter of intent with Metals Creek Resources Corp. (see Oct. 8, 2020, news release for details of the original agreement).

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Metals Creek Drills Multiple High-Grade Intercepts Including 36.21 g/t Gold over 2.47 Meters in Hole DL22-029 at Dona Lake

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  • 3 High-Grade intercepts with associated VG
  • New High-Grade Discovery within Quartz Vein

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results from drill holes DL22-029, 030 and 031 of the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).

Hole DL22-029 continues to demonstrate the continuation of high-grade gold mineralization within the main zone stratigraphy, below the 455 level of the past producing Dona Lake Gold mine (See Figure 1, Schematic Long Section and Figure 2, Schematic X-Section). Hole 029 intersected the Main Zone stratigraphy 499 meters below surface and returned a core length intercept of 11.80 grammes per ton (g/t) gold (Au) over 3.66 meters(m) (539.47-543.13m). This was a part of a broader zone of mineralization of 6.38g/t Au over 11.33m (531.80-543.13m). Mineralization was hosted within a silicate sulfide iron formation with 0.5 to 25% pyrrhotite and local pyrite with associated grunerite and garnets. Visible gold was noted in this intercept. A second zone of mineralization was intercepted 516m below surface, which returned a core length intercept of 36.21 g/t Au over 2.47m, (558.63-561.10m). This second zone of mineralization is also within the main zone stratigraphy and is separated from the noted intercept above by 11m of felsic dike material. It is hosted within a moderately foliated and chloritized iron formation with 1-20% pyrrhotite and 2-10% pyrite. Visible gold was also noted in this intercept.

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Metals Creek Drills 1.50 g/t Gold over 18.00 Meters at Dona Lake

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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results from drill hole DL22-028 of the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).

Results from drill hole DL22-028 continue to define gold mineralization within main zone, south of the mine workings as well as intercepting mineralization within B-Zone at the past producing Dona Lake Gold mine. This hole targeted main zone stratigraphy outside the currently defined mineralized envelope, extending gold mineralization an additional 30m south within the deeper portion of the mineralized iron formation (See Figure 1, Schematic Long Section and Figure 2, Schematic X-Section) This hole intersected the Main Zone stratigraphy 424 meters below surface and returned a core length intercept of 2.56 grammes per ton(g/t) gold (Au) over 6.14 meters(m) ( 464.61 - 470.75m). This was a part of a broader zone of mineralization of 1.50 g/t Au over 18.00m (458.00 - 476.00m). A second zone of mineralization was intercepted (B-Zone) 473m below surface, which returned a core length intercept of 2.05 g/t Au over 9.11m, included in this is 8.88 g/t Au over 1.45m (See Table 1 Significant Results, Figure 2 Schematic X-section). Mineralization within the main zone intercept is hosted within silicate-sulfide iron formation and characterized by stringer to locally disseminated pyrrhotite ranging from 1 to 5% with local pyrite. Magnetite rich sections with local pyrrhotite stringers are locally present. The B-Zone intercept is characterized by trace to 15% disseminated to stringer pyrrhotite with minor pyrite. B-Zone has seen limited drilling historically and represents a prospective target that remains open at depth.

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Results from drill hole DL22-027 continue to further define high grade gold mineralization south of the mine workings at the past producing Dona Lake Gold mine. This hole intersected the Main Zone stratigraphy 368 meters below surface and returned a core length intercept of 5.18 grammes per ton(g/t) gold (Au) over 5.33 meters(m) (403.45 - 408.78m). This was a part of a broader zone of mineralization of 2.64 g/t Au over 27.90m (399.95 - 427.85m). (See Table 1 Significant Results, figure 1 Schematic Longitudinal and figure 2 schematic x section). Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to locally disseminated pyrrhotite ranging from 1 to 4% with local pyrite. Magnetite rich sections with local pyrrhotite stringers are also present. Aside from pyrrhotite mineralization, alteration consists of strong hornblende and grunerite with local garnet alteration.

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Augusta Logo (CNW Group/Augusta Gold Corp.)

  • Electing each of the Company's six nominees as directors of the Company;
  • Re-appointing Davidson & Company LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration; and
  • Approving the repricing of certain Company stock options.

A summary of the results for the election of the Company's directors is provided below:

Name of Nominee

Votes For

Votes Withheld

Number

%

Number

%

John Boehner

40,280,915

99.98 %

8,529

0.02 %

Lenard Boggio

40,158,112

99.67 %

131,332

0.33 %

Daniel Earle

40,158,407

99.67 %

131,037

0.33 %

Poonam Puri

40,162,485

99.68 %

126,959

0.32 %

Donald R. Taylor

40,158,252

99.67 %

131,192

0.33 %

Richard Warke

40,279,592

99.98 %

9,852

0.02 %

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com .

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SOURCE Augusta Gold Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/30/c7150.html

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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

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/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES /

All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.

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