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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce it has received results from phase II of its Spatiotemporal Geochemical Hydrocarbon ("SGH") Gold survey conducted in July of 2021 on its Ogden Gold property in the heart of the Timmins Gold Camp.
The Ogden Gold Project is a 50/50 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.
Following up on the success of the first SGH sampling program (Phase I) in 2020 (See News release February 22, 2021), Phase II was conducted to further extend sampling on the property to the western and eastern boundaries along the porcupine-destor break and prospective stratigraphy. A total of 983 samples were collected on 100 meter spaced lines with nominal sample spacings of 25 meters like that of phase I. Three new prospective gold targets were identified which are listed below as well as their corresponding rating. With greater than 97% of the project covered by overburden, SGH can greatly expedite the target generation process; potentially resulting in substantial cost savings when evaluating and ultimately delineating these potential targets.
SGH is a deep penetrating geochemistry that involves testing for specific hydrocarbons which are a result from the decomposition of bacteria and microbes that feed on the target commodities as they require inorganic elements to catalyze the reactions necessary to develop hydrocarbons. These residues subsequently migrated to the surface as a flux of different classes of hydrocarbons. (ActLabs Ogden Report).
The rating system for SGH surveys is 1 to 6, with 1 being the least prospective and 6 being the best. Anything 4 or above is considered to be highly prospective. The subjective SGH signature rating for Ogden East and West Phase II anomalies are as follows:
- Ogden East - a rating of 4.5 on a scale of 6.0 for Gold - east of (South Zone) SZ
- Ogden East - a rating of 4.0 on a scale of 6.0 for Gold - between (Thomas Ogden Zone) TOZ and SZ
- Ogden West - a rating of 4.0 on a scale of 6.0 for Gold - near western boundary
Figure 1: Ogden SGH Anomalies
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/943/107445_501d5ec2b4b45847_002full.jpg.
About the Ogden Gold Project
Work on the property by Metals Creek since 2009 has consisted of ground geophysical magnetic and induced polarization surveys, down-hole induced polarization geophysical surveys, minor prospecting and 137 diamond drill holes totaling 35,830m.
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 corporations understanding of the geological and structural complexity within TOG and their control on gold mineralization. The gold mineralization is associated with alteration zones within porphyry dikes and Timiskaming sediments. The alteration 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:
- 6.08 grams per ton (g/t) gold (Au) over 21.85 meters (m) 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)
- 2732.64g/t Au over 0.93m which is a part of a broader zone of mineralization of 210.19g/t Au over 12.53m. (TOG-13-25)
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 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) and
- 6.21g/t Au over 6.63m (OG11-002) with both being within 100m of surface.
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.
About the SGH Survey
Actlabs describes the SGH survey as follows: "Actlabs' Spatiotemporal Geochemical Hydrocarbon (SGH) analysis is a high-performance deep penetrating geochemistry which has successfully shown the presence of deeply buried mineral deposits. The survey technique involves the collection of near surface soils, peat, humus, till, and sand in the field and then desorbing the weakly bound heavy hydrocarbons in the C5-C17 carbon series range at the laboratory from sample material. The desorbed organic compounds are collected and introduced into a Gas Chromatograph/Mass Spectrometer (GC/MS) where over 160 of these heavier hydrocarbon compounds are measured. The analysis identifies a mixture of hydrocarbon compounds that provide a highly confident, unique fingerprint that identifies mineralization under thick cover. Measurements do not recognize inorganic content in the samples; therefore, the results do not reflect mobilized anomalies or any nugget affect. SGH in tandem with geophysics is a cost-effective technique to improve drill targeting success."
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 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 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/107445
Table 1
Figure 1: Plan view of newly staked Crystal Peak and G Mine prospects located 10km west of SNX’s large- scale Blackhawk Porphyry and Epithermal Projects.
Figure 2: Plan view of the newly staked Crystal Peak and G Mine showing structure, alteration and main prospect areas and G Mine rock chips locations.