forum bzone

Metals Creek Reports New High-Grade Gold Discovery as well as 5.21 g/t Gold over 14.80 Meters in Main Zone at Dona Lake

 

 

 
  • 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 NumberMeters FromMeters ToTotal MetersGrams Per Ton GoldRemarks
DL21-00757.3559.071.7223.48New Zone
and421.55424.643.091.98
and427.02450.1023.083.88Main Zone
including434.45449.2514.805.21Main Zone
and 460.00464.004.004.89B-Zone
DL21-008495.50501.005.500.98Hit 455 Drift
including 497.00500.003.001.46
DL21-009NSA


Hit Workings
 

 

 

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.

 

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

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/943/78755_cc5de4a574a7ebef_002.jpg

Figure 1

 

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/943/78755_cc5de4a574a7ebef_002full.jpg

 

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78755

 

 

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Rick Rule, mine site.

Rick Rule: Gold's Next Move, Hated Sectors I Love, Top 3 ASX Mining Stocks

Rick Rule, proprietor at Rule Investment Media, shares his latest thoughts on the resource space, including the sectors where he sees the most hate — and the most opportunity.

Click here to download recordings from the Rule Symposium.

Keep reading...Show less
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less

Latest Press Releases

Related News

×