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Metals Creek Resources Corp. (TSXV: MEK,OTC:MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce the Company has hit visible gold (VG) in the first two drill holes at the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 5050 Joint Venture with Discovery Silver ("Discovery"), with the Company serving as the operator.
This program targeted the lower portion of a Thomas Ogden Zone (TOG) fold structure which has a shallow easterly plunge. High grade gold mineralization has a strong preferential association with the TOG fold axis and is commonly associated with flat lying quartz bearing structures and zones of strong albitization, silicification and quartz flooding with associated disseminated pyrite. Drilling to date has identified high grade gold mineralization associated with multiple generations of quartz veins. Structural data generated from the last drill campaign highlighted that one gold bearing quartz vein trending sub-parallel to drill hole orientations, is potentially being underrepresented. This program rectified this by utilizing a different drill hole orientation designed to cross-cut this newly identified vein set as well as the other generations of gold bearing veins.
TOG-26-75 was designed to further define the down-plunge extent of high grade gold mineralization associated with a TOG fold structure Highlights from previous drill campaigns include TOG 21-065A which returned a downhole intercept of 9.2 g/t (grams per tonne) gold (Au) over 4.47 meters (See New Release January 27, 2022) and TOG 22-74A which returned an downhole intercept of 3.66 g/t Au over 14.66m (See News Release November 15, 2022). Hole TOG-26-75 encountered Visible Gold (VG) at 326m (See Photo 1). VG was hosted within a highly silicified felsite unit with associated cross-cutting quartz veinlets within hairline fractures.
Photo 1: Visible gold in NQ Core within altered felsite @ 326m
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TOG-22-76 also encountered VG (See photo's 2&3) hosted within a highly silicified felsite unit with associated disseminated pyrite. This hole also targeted the lower portion of the currently defined TOG fold structure. VG was observed in a zone of quartz flooding in several locations over 3.5m.
Photos 2& 3: Visible Gold in NQ core within zone of quartz flooding @304.5m
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Alexander (Sandy) Stares, President and CEO states, "Intersecting visible gold in these first two holes is highly encouraging and validates the potential that we believe TOG holds. These holes were designed to test areas where historical intercepts showed no visible gold in drilling, but due to the extensive alteration we now believe this area has a much higher potential which provides further confirmation that this area warrants significantly more drilling."
Assay results will be released as they are received and compiled.
The presence of visible gold in drill core is considered encouraging; however, it should not be considered a definitive indicator of gold grade or continuity of mineralization. Visible gold observations are qualitative in nature and may not be representative of overall gold distribution within the drill hole or across the property. Analytical assay results are required to determine the actual gold content of the sampled intervals.
The Ogden Gold Project is located within the Timmins Gold Camp and has over 8km of strike length along the prolific Porcupine-Destor Break, the key conduit for gold mineralization in the Timmins Camp. This project was acquired in November, 2008 when MEK signed an Option Joint Venture Agreement with Goldcorp (Now Discovery Silver). Ogden is strategically located between Pan American Silvers' West Timmins Mine and Galleon Golds West Cache development to the west and Discovery Silvers' Dome Mine and Mill complex which is located 8km to the east. Currently there are six zones of mineralization identified; Naybob North, South and West, Porphyry Hill, Thomas Ogden (TOG) and Thomas Ogden West with Naybob South and TOG seeing the majority of the work. Highlights of drilling include 210.19 g/t gold over 12.53m from TOG-13-25 (see MEK news release dated may 22, 2013) and 9.24 g/t gold over 6.61m from Naybob South (See Corporation's website). Additional mineralization was discovered in drilling one kilometer west of TOG returning an intercept of 5.06 g/t gold over 2.60m (See News Release March 4, 2016) with a follow up hole returning a down hole intercept of 4.96 g/t gold over 3.97m including a second zone of mineralization assaying 1.43 g/t gold over 14.00m (see MEK news release date June 05, 2017). This further highlights the exploration potential on the western portion of the property, which is contiguous with Galleon Gold (See Figure 1) and has seen minimal work.
Figure 1: MEK Property along Porcupine-Destor Break
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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 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).
Metals Creek has also jointly acquired through staking on a 50/50 basis with Benton Resources, potential natural white hydrogen projects in Newfoundland. The Smoking Gun Prospect was selected after research uncovered highly anomalous helium with values up to 8,900 parts per billion (ppb) in water collected from an historic drill hole. These licenses are located within the Deer Lake Basin, which is thought to be a prospective environment for the presence Helium (He) and Natural (White) Hydrogen (H₂).
At Parson's Pond, research of historical drill logs in two holes 14.2 km apart, have observed C1 methane gas levels reaching 72%. The area is underlain by thrust faulted rocks of the Humber Arm Supergroup. Drill logs indicate unique sedimentary units composed of shales along with sandstones containing fragments of serpentine and chrome. Of particular interest, is the presence of the mineral glauconite, which, combined with these geological indicators, suggests a highly prospective environment for the potential formation of white hydrogen, (natural hydrogen) to form within the basin. The presence of such high concentrations of methane alongside hydrogen indicators suggests a potentially active gas system within the basin. In addition, surface areas have been noted to vent gas within the project boundaries.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.
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
709-424-1141
Metals Creek Resources Corp
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
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