TORONTO, ONTARIO--(Marketwired - Sep 12, 2013) - Metals Creek Resources Corp. (TSX VENTURE:MEK) is pleased to announce that final assay results for silver have been received for trench samples from its Squid East Project in the Yukon. A previous release (see press release dated 06 August 2013) had outlined the gold results from the "Exploits Zone" trench, however the silver results were delayed. The recent results show the new zone to have significant silver mineralization with a final composite across the zone of 1.96 grammes per tonne (g/t) Au and 160.5 g/t Ag over 22 meters. This trench also contained a higher grade zone of 6.39 g/t Au and 513.5 g/t Ag over 4.0 meters.
The trenching program focused on a strong northwest trending gold plus pathfinder element soil anomaly. Bedrock mapped in the trenches consisted of heavily bleached and weathered broken rock which is considered to be in place and is typical for the White gold district. The host rock to the gold mineralization consists of sericite schist with local quartz veining, and local hematite alteration. A follow-up drill program consisting of 428 meters in four holes has recently been completed, however assays are pending.
Alexander (Sandy) Stares, President and CEO of Metals Creek, states, "We are extremely pleased with the results of this initial trenching program. These silver assays greatly enhance the potential economics of the project and we look forward to the drill results."
All chip samples were sent to Acme Analytical Laboratories ltd located in Vancouver, B.C. The precious metals assays were analyzed utilizing a standard fire assay with an atomic absorption finish and lead assays were fire assay with ICP finish.
GTA can earn an initial 51% interest in the Squid East property from Metals Creek Resources Corp. ("MEK") and can increase its interest to 70% as previously announced in a press release dated 12 January 2013. MEK will be the operator during the initial earn-in period. MEK initially staked the Yukon properties in February, 2011 and has a 100% interest in four separate claim blocks (242 claims) within the White Gold District. The Squid East claims are located proximal to the Matson Creek placer gold operations, approximately 90km southwest of Dawson City. A four wheel drive access road and airstrip service the placer camp and MEK's current field work availed of the placer camp airstrip, accommodations and equipment to help carry out the program. During the trenching program, a six km access trail was completed from the Matson Creek four wheel drive road to the target area making access more cost effective.
Michael MacIsaac, P.Geo., 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 Metals Creek Resources Corp.
Metals Creek Resources Corp. is a well-funded 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, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val-d'Or, Quebec. The Corporation is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. 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.
- Commodity Markets
- Company Earnings
Alexander (Sandy) Stares
President and CEO