- Drilled New High-Grade Near Surface Gold Discovery
- Main Zone returns 5.21 g/t Gold over 14.80 meters
Metals Creek Resources Corp. (TSXV: MEK) (the "Corporation") is pleased to announce diamond drill results for three drill holes from the ongoing phase II diamond drill program at the Dona Lake Gold project (See News Release November 18, 2020).
While targeting Main Zone, drill hole DL21-007 intersected new high grade near surface mineralization within reddish-brown biotite altered mafic volcanics with associated quartz veining, pyrite mineralization and visible gold. The reddish-brown biotite alteration is potentially indicative of high temperature hydrothermal alteration. Very fine visible gold was noted within the quartz vein material. Quartz veining makes up approximately 60 percent of the intercept. This new zone (QV Zone) returned a core length intercept of 23.48 grams per tonne (g/t) gold (Au) over 1.72 meters (m) (57.35 - 59.07m). Based on available information, no surface diamond drilling appears to have occurred within this portion of the property, leaving this zone open both along strike and down dip. At this time, there is insufficient data to determine an orientation of this new zone.
Hole DL21-007 continued to intercept Main Zone at approximately 390m below surface and returned a core length intercept of 5.21g/t Au over 14.80m (434.45 - 449.25m). This was a part of a broader zone of mineralization of 3.88g/t Au over 23.08m (427.02 - 450.10m). (See Table of significant results Below). Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to disseminated pyrrhotite ranging from 3 to 20% with local pyrite 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 locally strong folding. This intercept is located south of the mine workings between the 360 and 455 level. B-Zone was also intercepted returning a core length intercept of 4.89g/t Au over 4.00m (460.00 - 464.00m). This intercept consisted of mainly 2 to 10% pyrrhotite and 1% pyrite within a silicate-sulfide iron formation. (See figure 1)
Due to excess deviation in holes DL21-008 and DL21-009, these holes intersected mine workings (009) and 455 level drift (008).
|Drill Hole Number||Meters From||Meters To||Total Meters||Grams Per Ton Gold||Remarks|
|DL21-008||495.50||501.00||5.50||0.98||Hit 455 Drift|
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, "We are highly encouraged about the New High-Grade Zone encountered in hole DL21-007. This New zone appears to be open both along strike and down dip and will be tested while targeting the Main Zone in future drilling. In addition, the results encountered from the main zone confirms our belief that high grade mineralization remains outside of the mined out area at the Dona Lake Gold Mine. Drillers have currently taken a break."
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.
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
To view an enhanced version of Figure 1, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78755