Metals Creek Hits Gold in Deepest Known Drill Hole at The Dona Lake Gold Mine, Increases Drilling to 5,000 Meters

- February 1st, 2021

Deepest hole to date returns 5.31 gt Au over 6.65m Increasing drill program from 2500m to 5000m Metals Creek Resources Corp. ,  is pleased to announce diamond drill results for the first three drill holes from the ongoing phase II diamond drill program at the Dona Lake Gold project . Hole DL20-004 returned the deepest intercept to date at the past producing Dona Lake Gold mine based on currently available data. …

  • Deepest hole to date returns 5.31 g/t Au over 6.65m
  • Increasing drill program from 2500m to 5000m

Metals Creek Resources Corp. (TSXV: MEK) (the “Corporation”),  is pleased to announce diamond drill results for the first three drill holes from the ongoing phase II diamond drill program at the Dona Lake Gold project (See News Release November 18, 2020).

Hole DL20-004 returned the deepest intercept to date at the past producing Dona Lake Gold mine based on currently available data. This hole penetrated the Main Zone at approximately 573m below surface and returned a core length intercept of 5.31 grams per tonne (g/t) gold (Au) over 6.65 meters (m) (607.25-613.9). This was a part of a broader zone of mineralization of 3.64 g/t Au over 11.75 m (607.25-619.0m) (See Table Below). Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to disseminated pyrrhotite ranging from 3 to 20% with local pyrite and as well as sections of silicate-oxide iron formation. Alteration includes strong silicification with local quartz veining and locally moderate to strong grunerite, hornblende and biotite in conjunction with local folding.

Hole DL20-006 was collared to test the continuation of gold mineralization immediately south of Dona Lake mine workings at approximately 183m vertically. The first zone, which is interpreted to be the Main Zone, returned a core length intercept of 1.13 g/t Au over 16.90 m (222.9-239.8m), Included in this intercept is 6.17 g/t Au over 1m where three 0.5mm sized flakes of Visible Gold (VG) was noted (See attached Photos). A second zone of mineralization interpreted to be the “B” Zone, returned a down hole intercept of 2.21 g/t Au over 11.85 m (252.90-264.75m), included in this intercept is 7.25 g/t Au over 1.97m (262.78-264.75m). Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to semi-massive pyrrhotite ranging from 3 to 40% with local pyrite. Magnetite is also present within sections of banded silicate-oxide iron formation. Alteration includes strong silicification with associated quartz veining and locally moderate to strong grunerite, garnet and biotite with local folding.

DL20-005 was collared to test 190m vertically from surface and also located south of the Dona Lake Mine workings. The hole ran through a fault zone and did not intersect the targeted gold hosting horizon.

In addition to these results, the Corporation would also like to announce an increase in the planned meterage from the previously announced (See News Release November 18, 2020) diamond drill program of 2500m to 5000m based on encouraging results to date. A large portion of this program will focus on deeper portions of mineralization between levels 360 to 455 as well as further expanding on mineralization returned from holes DL20- 003, (See News Release September 15, 2020) and hole DL20-004 both of which are below existing mine workings.

Table 1. Drill Hole Intercepts.

Drill Hole Number Meters From Meters To Total Meters Grams Per Tonne Gold
DL20-004 607.25 619 11.75 3.64
Including 607.25 613.9 6.65 5.31
DL20-005 NSA
DL20-006 222.9 239.8 16.9 1.13
Including 235.46 236.46 1.00 6.15 (VG)
and 252.9 264.75 11.85 2.21
Including 262.78 264.75 1.97 7.25

 

Drill intercepts reported in these holes are not true widths. There is insufficient data at this point to determine a true orientation.

Alexander (Sandy) Stares, President and CEO of Metals Creek states: “Hole DL20-04 continues to demonstrate the continuity of high-grade mineralization below the 455m level (lowest most working at the Dona lake Mine). Being that this hole is the deepest hole drilled to date at Dona Lake, mineralization is open both along strike and at depth. DL20-004 is 20m below historic hole 455-2 (See news release April 07, 2020) and 75m below hole DL20-003 (See News Release September 15, 2020) which returned a high-grade downhole intercept of 8.07 g/t over 7.0m. Management is highly encouraged with the deep drill results to date and will continue to focus on further delineating and expanding the high-grade gold mineralization below the 455 level. Drilling is ongoing and results will be released as 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.

A Presentation for the Dona Lake Gold Project can be viewed at:

https://www.metalscreek.com/upload/documents/corporate-presentation-ogden-and-dona-fe.pdf

Historic drill intercepts referenced in this news release and presentation are historical in nature and have not been verified by the Corporation. Reported intercepts are not true widths. At this time, there is insufficient data to calculate a true orientation.

In addition, Metals Creek announces that the corporation has entered into an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. For the 13 month term of the agreement, INN will provide advertising to increase awareness of the issuer. INN does not provide Investor Relations or Market Making services. The cost of the campaign is $32,400 payable in standard net 30 terms. INN currently does not hold shares in Metals Creek Resources Corp.

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 Corporation 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

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Figure 1: DL20-006
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Figure 2: DL20-006
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73312

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