Metals Creek Hits Gold in Deepest Known Drill Hole at The Dona Lake Gold Mine, Increases Drilling to 5,000 Meters Deepest hole to date returns 5.31 g/t Au over 6.65m Increasing drill program from 2500m to 5000m
Metals Creek Hits Gold in Deepest Known Drill
Hole at The Dona Lake Gold Mine, Increases
Drilling to 5,000 Meters
Deepest hole to date returns 5.31 g/t Au over 6.65m
Increasing drill program from 2500m to 5000m
Thunder Bay, Ontario--(Newsfile Corp. - February 1, 2021) - 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:
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
Figure 1: DL20-006
To view an enhanced version of this graphic, please visit:
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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