Precious Metals

  • Deepest Drill Intercept to date extending gold mineralization 85m down plunge
  • High Grade Intercept of 8.82 g/t Gold over 3.90m

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce diamond drill results for drill hole DL22-024 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).

Results from drill hole DL22-024 is the deepest intercept to date from Dona Lake drilling. This hole intersected the Main Zone stratigraphy at approximately 675 meters below surface and 220 meters below the lowermost mine working (455 Level) returning a core length intercept of 8.82 grammes per ton (g/t) gold (Au) over 3.90 meters (m) (723.00 - 726.90m). This was a part of a broader zone of mineralization of 3.42 g/t Au over 19.61m (707.29 - 726.90m). (See Table 1 Significant Results and figure 1 Schematic Longitudinal). This hole demonstrates that the iron formation, with associated alteration, deformation and mineralization continues down plunge, remaining open at depth. Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to disseminated pyrrhotite ranging from 1 to 15% with local pyrite. Aside from pyrrhotite mineralization, alteration consists of moderate to strong hornblende, garnet and grunerite. DL22-024 was drilled to test the interpreted center of the plunge line, piercing approximately 85 meters below the previously reported deepest hole DL21-016, which intercepted 5.00g/t Au over 3.00m (see MEK news release dated 18 August 2021 and Figure 2 Schematic Section DL21-024).

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Figure 1 Schematic Longitudinal

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Figure 2 Schematic Section DL22-024

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Management is highly encouraged with the assay results from hole DL22-024. This intercept clearly demonstrates the continuity of high-grade gold mineralization and associated silicate-oxide iron formation below current drilling as well as strong alteration and pyrrhotite.

Drilling is ongoing and will continue to target the down plunge extension of the mine stratigraphy as well as test peripheral targets which include the North West Zone and the East Iron Formation.

Drillhole NumberMeters FromMeters ToTotal MetersG/T GoldZone
DL22-024707.29726.9019.613.42Main
including723.00726.903.908.82Main

 
Table 1 - Significant Results

Drill intercepts are core lengths and are believed to be 70-80% true thickness.

Further drill results will be released once they are received and compiled.

The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp - see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.

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.

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.

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 Corporation, including the former 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 Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.

Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.

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
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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117970

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Metals Creek Resources


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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

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

  • 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

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

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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Metals Creek Drills 2.64 g/t Gold over 27.90 Meters at Dona Lake

Metals Creek Drills 2.64 g/t Gold over 27.90 Meters at Dona Lake

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results for drill hole DL22-027 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).

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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Metals Creek DL22-025 Returns 14.10 g/t Gold over 3.97 Meters in Deepest Intercept to Date from Dona Lake Drilling

Metals Creek DL22-025 Returns 14.10 g/t Gold over 3.97 Meters in Deepest Intercept to Date from Dona Lake Drilling

  • Deepest Drill Intercept to date extending mineralization an additional 78m below recently reported DL22-024
  • High Grade Intercept of 8.11 g/t Gold over 9.51m including 14.10 g/t Gold over 3.97

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce diamond drill results for drill hole DL22-025 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).

Results from drill hole DL22-025 is the deepest intercept to date from Dona Lake drilling. This hole intersected the Main Zone stratigraphy 753 meters below surface and 299 meters below the lowermost mine working (455 Level) returning a core length intercept of 14.10 grammes per ton (g/t) gold (Au) over 3.97 meters (m) (798.35 - 802.32m). This was a part of a broader zone of high-grade mineralization of 8.11 g/t Au over 9.51m (792.81 - 802.32m). (See Table 1 Significant Results and figure 1 Schematic Longitudinal, figure 2 Schematic Section). This hole clearly demonstrates the continuation of the main zone iron formation down plunge. The continued presence of strong to intense alteration with associated strong pyrrhotite mineralization is a further indication the mineralizing system remains very strong at depth and continues to validate the current geological model that gold bearing iron formations can be quite laterally extensive. Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to locally disseminated pyrrhotite ranging from 3 to 25% with local pyrite. Aside from pyrrhotite mineralization, strong to intense alteration consists of strong hornblende, garnet and grunerite with significant overprinting of primary bedding structures. DL22-025 was drilled to test the interpreted center of the plunge line, piercing approximately 78 meters below the previously reported deepest hole DL22-024, which returned a core length intercept of 8.82 g/t Au over 3.90m. This was a part of a broader zone of mineralization of 3.42 g/t Au over 19.61m. (see MEK news release dated 24 March 2022 and Figure 2 Schematic Section DL21-025).

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Metals Creek Options Squid East in Yukon to Golden Sky Minerals

Metals Creek Options Squid East in Yukon to Golden Sky Minerals

 Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that the company has signed an option agreement with Golden Sky Minerals Corp. (TSXV: AUEN) (Golden Sky) whereas Golden Sky has the right to earn a 100% interest in the company's Squid East claims in the Yukon.

MEK initially staked the Squid East Property in February, 2011, during the staking rush that ensued after the discovery of the White Gold deposit. The claims are located proximal to the Matson Creek placer gold operations, approximately 80 km northwest of the Goldcorp's Coffee Project and 90 km southwest of Dawson City. Soil sampling, trenching and limited diamond drilling carried out in 2013 resulted in the discovery of a new gold-silver zone with characteristics similar to other discoveries in the White Gold district. Results included 22.0 meters (m) of 1.96 grams per ton (g/t) gold (Au) and 160.6 g/t Silver (Ag) from trenching and 1.55 g/t Au and 114.1 g/t Ag over 21.0 m from the subsequent drilling (see MEK press releases dated August 6, 2013 and October 8, 2013).

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B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce its operational and financial results for the second quarter and first half of 2022. The Company previously released its gold production and gold revenue results for the second quarter and first half of 2022. All dollar figures are in United States dollars unless otherwise indicated.

2022 Second Quarter Highlights
  • Total gold production of 223,623 ounces (including 14,765 ounces of attributable production from Calibre Mining Corp. ("Calibre")), slightly above budget by 1% (2,154 ounces), and consolidated gold production of 208,858 ounces from the Company's three operating mines, in line with budget
  • Consolidated gold revenue of $382 million on sales of 205,300 ounces at an average realized gold price of $1,861 per ounce
  • Fekola's mill throughput was a quarterly record of 2.42 million tonnes, 8% above budget and 6% higher than the second quarter of 2021
  • Total consolidated cash operating costs (see "Non-IFRS Measures") (including estimated attributable results for Calibre) of $781 per ounce produced and consolidated cash operating costs from the Company's three operating mines of $766 per ounce produced, both 2% below budget
  • Total consolidated all-in sustaining costs ("AISC") (see "Non-IFRS Measures") (including estimated attributable results for Calibre) of $1,111 per ounce sold and consolidated AISC from the Company's three operating mines of $1,109 per ounce sold, both well below budget by 7%
  • Net income attributable to the shareholders of the Company of $38 million ( $0.04 per share); adjusted net income (see "Non-IFRS Measures") attributable to the shareholders of the Company of $45 million ( $0.04 per share)
  • On July 3, 2022 , the Economic Community of West African States ("ECOWAS") removed the economic, financial and diplomatic sanctions imposed on Mali earlier in 2022 following the interim Malian Government's announcement of a two-year transition to presidential elections and the promulgation of a new electoral law. As a result, Mali's borders with its neighbours are now open to normal commercial traffic and ordinary supply routes are once again available
  • The Company remains in a strong net positive cash position and paid a second quarter dividend of $0.04 per common share (annualized rate of $0.16 per common share), representing one of the highest dividend yields in the gold sector
  • The Company recently announced the acquisition of Oklo Resources Limited ("Oklo"), which will provide B2Gold with an additional landholding of 1,405 km 2 covering highly prospective greenstone belts in Mali , including Oklo's flagship Dandoko project (550 km 2 ), located approximately 25 kilometres from each of the Fekola Mine and the Anaconda area. The transaction is expected to be completed in mid-September 2022
  • B2Gold published its sixth annual Responsible Mining Report entitled "Raising the Bar", which details B2Gold's global economic contributions and its environmental, social, and governance management practices, together with the Company's performance against key indicators in 2021
2022 First Half Highlights
  • Total gold production of 432,988 ounces (including 27,657 ounces of attributable production from Calibre), above budget by 3% (11,914 ounces), and consolidated gold production of 405,331 ounces from the Company's three operating mines, above budget by 2% (7,383 ounces)
  • Consolidated gold revenue of $748 million on sales of 400,400 ounces at an average realized gold price of $1,867 per ounce
  • Total consolidated cash operating costs (including estimated attributable results for Calibre) of $742 per ounce produced, well below budget by 7%, and consolidated cash operating costs from the Company's three operating mines of $722 per ounce produced, well below budget by 8%
  • Total consolidated AISC (including estimated attributable results for Calibre) of $1,074 per ounce sold, significantly below budget by 15%, and consolidated AISC from the Company's three operating mines of $1,069 per ounce sold, significantly below budget by 16%
  • Net income attributable to the shareholders of the Company of $119 million ( $0.11 per share); adjusted net income attributable to the shareholders of the Company of $110 million ( $0.10 per share)
  • For full-year 2022, B2Gold remains well positioned for continued strong operational and financial performance and remains on track to achieve its total consolidated gold production guidance of between 990,000 - 1,050,000 ounces (including 40,000 - 50,000 attributable ounces projected from Calibre). Overall and after factoring in the positive operating results in the first half of 2022, the Company's total consolidated costs guidance ranges for full-year 2022 remain unchanged with total consolidated cash operating costs forecast to be at the upper end of the Company's guidance range of between $620 and $660 per ounce and total consolidated AISC forecast to be within the Company's guidance range of between $1,010 and $1,050 per ounce
Gramalote Project Update

Based on the preliminary results of the optimized feasibility study for the Gramalote gold project in Colombia (the "Gramalote Project"), a joint venture between B2Gold and AngloGold Ashanti Limited ("AngloGold"), both partners have determined that the project does not currently meet their investment thresholds for development of the project at this time. Therefore, in conjunction with finalizing the Gramalote Feasibility Study by the end of the third quarter of 2022, B2Gold and AngloGold have jointly made the decision to review the alternatives for the Gramalote Project over the coming months.

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