Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce the commencement of diamond drilling on the Dona Lake Gold Project in the Pickle Lake Gold Camp, Ontario. This drill program will further evaluate the on-strike extent of Main Zone and B Zone mineralization above the 455 level. Deeper holes are also planned to continue to systematically further define gold mineralization below the lower most level of the mine (455 level) and further extend Main Zone below the recently completed phase 2 drilling, which produced the deepest known intercept to date (See News Release August 18, 2021) at the Dona Lake deposit.
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 Property consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,063 hectares and covers the past producing Dona Lake Mine.
Currently there are four known gold bearing oxide iron formations that host gold mineralization on the Dona Lake Gold Project. During compilation work by company personnel, it was determined that the deepest hole found to date was drilled approximately 100m below the mine workings of the Main Zone (455m). This hole (455-2) returned a down hole intercept of 4.36 g/t Gold over 21.08 meters indicating the continuation of mineralization at depth below the bottom level (455 Level) of the Dona Lake Mine Main Zone.
A second zone (B Zone), footwall to the Main Zone, was partially drilled off but only saw limited development and test mining and is open at depth with limited drilling along strike. B Zone is defined as a steeply plunging zone with selective historic intersections including 14.17 g/t Au over 15.31 m, 9.9 g/t Au over 10.6 m, 7.85 g/t Au over 5.85m and 12.44 g/t Au over 4.6m. The above mentioned drill intercepts are historical in nature and have not been verified by the company.
Drilling to date by Metals Creek is summarized below.
|Drill Hole||Meters From||Meters to||Gold g/t||Total Meters|
|DL21-008||intersected mine workings|
|DL21-009||intersected mine workings|
Reported intercepts are not true widths. At this time there is insufficient data to calculate a true orientation.
Ogden Gold Project
Metals Creek has completed a 6-hole diamond drill program (See News Release September 28, 2021) for the purpose of further understanding the orientation of high grade mineralization and quartz veins through core orientation within the Thomas Ogden Zone (TOZ). Core orientation will also aide in further defining potential flat lying structures with associated quartz veins within the deeper portions of the TOZ. Significant folding is also present within TOZ including a strong spatial relationship of high-grade mineralization along the fold hinge. This fold structure has a shallow plunge to the east and has been traced for approximately 325m down plunge. These 6 holes are in the process of being logged and sampled with special emphasis on acquiring core orientation data on relevant structures, veins and mineralization. Drilling has paused until assay results from these holes have been received and structural data has been interpreted upon completion of logging as well as awaiting results from the recently completed Spatiotemporal Geochemical Hydrocarbon (SGH) survey. It is anticipated the Deep Section Induced Polarization (IP) ground geophysical survey will commence over the next couple of weeks. Drilling will re-commence upon receipt of all assays, structural data, SGH and receipt of final interpreted geophysical data and will consist of further expanding the down plunge of TOZ and evaluating new fold structures and targets.
About the Ogden Gold Project
Work commenced on the property by Metals Creek in 2009 and has consisted of ground geophysical surveys which include magnetics and induced polarization (IP), down-hole IP, as well as 137 diamond drill holes totaling 35,830 meters.
The Ogden Gold Project covers 8 kilometers of the Porcupine Destor Fault, which is the key conduit for gold mineralization in the Timmins Gold camp. There are five known gold zones on the property, with TOG and Naybob South seeing the majority of the work. Drilling in 2012 and 2013 on TOG greatly enhanced the company's understanding of the geological and structural complexity within TOG and its control on gold mineralization. Alteration within these gold bearing systems consists of strong albitization and silicification, with varying amounts of pyrite, arsenopyrite mineralization and commonly with associated visible gold. Significant folding is present with enhanced gold grades along the fold hinges. These fold hinges have a gentle plunge to the east. Select results from these drill programs include:
- 210.19g/t grams per ton (g/t) gold (Au) over 12.53 meters (m) including 2732.64g/t Au over 0.93m (TOG-12-25)
- 49.96g/t Au over 9.0m including 434.77g/t Au over 1.0m (TOG-13-27)
- 6.08g/t Au over 21.85m including 11.76g/t Au over 9.00m (TOG-12-03)
- 9.46g/t Au over 18.55m and 6.17g/t Au over 6.62m (TOG-12-07)
Upon performing a re-interpretation of the ground geophysical data in conjunction with applying known structural trends known for hosting gold mineralization in the Timmins Gold Camp, a new discovery (TOG West), 1 kilometer west of TOG resulted in an intercept of 5.20g/t Au over 2.90m. More importantly, this intercept resulted in the identification of a second fold structure parallel to that of TOG.
The Naybob South zone is described as a zone of intensely albitized mafic/ultramafics with abundant pyrite and arsenopyrite. Drill intercepts for South Zone include;
- 9.24g/t Au over 6.61m (OG09-012)
- 6.21g/t Au over 6.63m (OG11-002) with both being within 100m of surface
Newmont's Dome mill is located approximately 8 km east of the property.
All above mentioned drill intercepts are within 150m of surface.
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.
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.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102355