Metals Creek Signs Drilling Contract For Minimum 2500 Meters Drilling At Dona Lake Gold Project.
Metals Creek Signs Drilling Contract For
Minimum 2500 Meters Drilling At Dona Lake
Gold Project.
Toronto, Ontario--(Newsfile Corp. - October 2, 2020) - Metals Creek Resources Corp. (TSXV: MEK)
(the
"Corporation") is pleased to announce that the Corporation has engaged M3 Drilling to conduct a
minimum 2500 meter drill program on the Dona Lake Gold Project. This drill program is expected to
commence during the latter part of October once the drill becomes available. An announcement will be
made once drilling has commenced.
This upcoming program will be designed to further test for gold mineralization immediately south of the
Dona Lake mine including both the Main and B-Zone mineralized horizons.
Deeper drilling will also take
place further evaluating the continuation of gold mineralization below the lower most level (455L) of the
Dona Lake mine. A part of this deeper drilling will be to test for gold mineralization below hole DL20-03
(See MEK news release September 15, 2020) which intercepted mineralization at 500m vertically below
surface.
On June 12, 2019 Metals Creek Resources Corp. (TSXV: MEK) announced it had signed an option
agreement with Newmont Corporation in which Metals Creek can earn a one hundred percent interest in
the Dona Lake Gold Property located in Pickle Lake mining district, 9 km southeast of the town of Pickle
Lake, Northwestern Ontario The Project consists of 32 patented and leased mining claims and 35 map
staked claims totaling approximately 1,063 hectares and covers the past producing Dona Lake Mine.
The Dona Lake Mine, an underground operation from 1989 to 1994 produced 246,500 ounces of gold at
a grade of 7.44 grams per tonne (Source: 2015 Institute of Lake Superior Geology Fieldtrip Guidebook).
In 1994, when the mine closed, the average gold price was approximately $383.23 (US) per ounce.
(Source;
http://onlygold.com/Info/Historical-Gold-Prices.asp
).
The Pickle Lake Greenstone Belt 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.
On July 8, 2020 Metals Creek announced that they had commenced drilling on the Dona Lake Project.
They drilled 3 holes totaling 1411 meters, two shallow holes to test the Main Zone and B Zone and a
deep hole to confirm the continuation of gold mineralization below the lower most level of the mine (455
level).
Hole DL20-001 was collared to test the continuation of gold mineralization south of the Dona Lake mine
at 121m level below surface.
The Main Zone returned a core length intercept of 4.53 grams per tonne
(g/t) Gold (Au) over 1 meter (m) (139.00-140.00m). Mineralization consisted of 1 to 2% disseminated
pyrrhotite with associated strong silicification and quartz veining.
Hole DL20-002 was collared to test the continuation of gold mineralization immediately south of Dona
Lake mine workings at approximately 220m below surface. The first zone, which is interpreted to be the
Main Zone, returned a core length intercept of 8.45 g/t Au
over 3.15 m (254.85-259.00m). This intercept
was a part of a broader zone of mineralization returning a core length intercept of 5.67 g/t Au over 5.15m
(254.85-260.00m).
Mineralization is hosted within silicate-sulfide iron formation and characterized by
stringer to semi-massive pyrrhotite ranging from 3 to 40% with local pyrite and magnetite.
Alteration
includes strong silicification with associated quartz veining and locally moderate to strong grunerite,
garnet and biotite in conjunction with strong folding.
A second zone of mineralization further down hole returned a core length intercept of 2.34 g/t Au over
9.2m (278.60-287.80m). Mineralization is hosted within silicate-sulfide iron formation with 1 to 6%
disseminated to stringer pyrrhotite as well as trace to 1 percent pyrite and local magnetite. Alteration
consists of strong silicification with quartz veining and local biotite, garnet and grunerite. This second
zone of mineralization is interpreted to B-Zone.
Hole DL20-003 was designed to test for the continuation of gold mineralization below the lower most
level of the Dona lake Mine (455 level). This hole penetrated the Main Zone at approximately 500m
below surface and returned a core length intercept of 8.07 g/t Au over 7 m(531.6 - 538.6 m). Included in
this intercept is a high-grade intercept of 17.6 g/t Au over 1 m.
Drill Hole
Meters
From
Meters to
Gold g/t
Total Meters
DL-20-001
137
153
0.74
16
Including
139
140
4.53
1
DL-20-002
254.85
269.2
2.43
14.35
including
254.85
260
5.67
5.15
Including
255.85
259
8.45
3.15
and
278.6
287.8
2.34
9.2
Including
286.7
287.8
5.89
1.1
DL20-003
531.6
538.6
8.07
7
Including
532.45
533.45
17.6
1
Gold mineralization at Dona Lake is hosted within three prominent banded iron formations with the
middle iron formation hosting the Dona Lake Mine (Main Zone). The Main Zone remains open at depth
with limited drilling along strike. Mining stopped at the 455 m level with historic drill results below the
455m level that selectively include 13.62 g/t Au over 13.00m, 8.74 g/t Au over 3.9m and 8.57 g/t Au over
2.8m. During compilation of historic data, it was determined that the deepest hole found to date was
drilled approximately 100m below the mine workings of the Main Zone (455m). This hole (455-2)
returned a down hole intercept of 4.36 g/t Au over 21.08 m indicating the continuation of mineralization at
depth below the bottom level (455 Level) of the Dona Lake Mine Main Zone.
A second zone (B Zone), footwall to the Main Zone, was partially drilled off but only saw limited
development and test mining and is open at depth with limited drilling along strike. B Zone is defined as
a steeply plunging zone with selective historic intersections including 14.17 g/t Au over 15.31 m, 9.9 g/t
Au over 10.6 m, 7.85 g/t Au over 5.85m and 12.44 g/t Au over 4.6m
The above mentioned historic drill intercepts are historical in nature and have not been verified or
validated by the Corporation. Reported intercepts are not true widths.
At this time there is insufficient
data to calculate a true orientation.
A Presentation for the Dona Lake Gold Project can be viewed at:
http://www.metalscreek.com/upload/documents/corporate-presentation-ogden-and-dona-se.pdf
In addition to its portfolio of projects, Metals Creek
also
holds
a
position of equities in other companies
such as O3 Mining (OIII), Sokoman Minerals (SIC), Quadro Resources (QRO), Anaconda Mining (ANX),
Benton Resources (BEX), White Metal Resources (WHM), Trifecta Gold (TG), Manning Ventures
(Mann), Magna Terra Minerals (MTT) as well as others.
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 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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/65096