Metals Creek Resources Corp. Samples 25.7 g/t Gold at Staghorn
Metals Creek Resources Corp. Samples 25.7 g/t Gold at Staghorn and provides update on the Staghorn Project.
Toronto, May 11, 2010. Metals Creek Resources Corp. (the “Corporation”, TSXV: “MEK”) is pleased to announce the Corporation has begun prospecting on the Staghorn Property. Initial results include 25.7 g/t gold from a surface grab sample at the Victoria Lake showing, located 15 km NW of MEK’s Woods Lake Gold Zone and 30 km SW of Marathon PGM’s and Mountain Lake Resources Valentine Lake Deposit. Assays ranged from 0.005 to 25.7 g/t gold from 22 samples. MEK’s exploration effort at the Staghorn Property has been focused on the auriferous Cape Ray fault system which trends for over 170 km and is host to a number of deposits including the Valentine Lake Deposit, the Woods Lake Zone and the Cape Ray Deposits to the southwest. The Staghorn Property now covers 33 km of strike length along the fault system.
Highlights of previous drilling at the Woods Lake Zone by MEK last fall includes 1.37 g/t over 26.31 meters, including 6.18 g/t over 5.11 meters, and 2.146 g/t gold over 12.60 meters, including 3.651 g/t gold over 6 meters. All 13 holes drilled by MEK intercepted the mineralized porphyry over a 550 meter strike length. The zone remains open in both directions and at depth. The most eastern hole returned 2.146 g/t gold over 12.60 meters and the most western hole returning 0.435 g/t gold over 37.84m, including 2.779 g/t gold over 4.34m.
The 450 claim unit Staghorn Property has also shown good potential for discovery of additional gold mineralization along strike from the Woods Lake Zone. A recently completed airborne magnetic survey indicates the Woods Lake Zone is located within a flexure of the Cape Ray Fault system and a number of other recently discovered gold showings, within the MEK claim group, are located proximal to this linear feature. These showings are located over a 25 km strike length and exhibit a style of mineralization comparable to the Woods Lake Zone which is described as a highly altered and sulphidized porphyry gold system. Other than prospecting and airborne surveying, very little work has been done outside the Main Zone. Assay results from the outside showings have ranged up to 25.8 g/t gold from the Sure-Shot showing located 1 km to the northeast of Woods Lake and 196.7 g/t gold from float material found at Glimmer Lake, located 8 km to the southwest. Follow-up programs, including soil geochemistry and trenching, are planned on the outside mineralization in 2010.
All samples were sent to Eastern Analytical Ltd in Springdale, Newfoundland. These samples were assayed using fire assay with an AA finish.
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 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 can earn 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 (PDF) that stretches between Timmins Ontario and Val’Dor 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 and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company’s profile at www.sedar.com.
This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to the Corporation. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Corporation has no intention or obligation to update the forward-looking statements contained in this press release.
“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.”
For further information, please contact:
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com