Recent results at Shabaqua Corners Gold; Re-evaluation of Tillex Cu Project near Timmins, ON
Metals Creek Channel Samples 1.04 g/t Gold Over 18.7 Meters at the Recently Discovered Echo Zone on the Shabaqua Corners Gold Property and Re-Evaluates Tillex Cu-Project, Last Drilled in 2011 With 85.48 Meters at 1.65% Copper
- 1.04 g/t Au over 18.7m within Qtz/Carb stockwork and 1-2% Py +/- Aspy
- Channel Cuts at Echo indicate larger widths at surface with Au Grades
Thunder Bay Ontario, , November 29, 2023 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, FRA:M1C1) is pleased to announce additional results from mechanical surface trenching on the Shabaqua Corners Gold Property (SCGP).
Channel sample results from the recently completed trenching program (See MEK news release dated September 7, 2023) targeting multiple prospective gold targets have been received for the recently discovered Echo Zone (EZ). (See MEK news release dated August 16, 2023). Highlights include 1.04 grams per tonne (g/t) gold (Au) over 18.70 meters (m) in continuous channel sampling. Mineralization is hosted within pervasive iron carbonate/silicified altered greywacke with associated 0.25 to 3 percent pyrite +/- arsenopyrite and cross-cutting quartz-carbonate stringers and veins. The main stratigraphy hosting the gold mineralization is striking roughly 100 to 110 degrees with dips essentially vertical, similar to other parts of the Shebandowan Greenstone Belt. Quartz-carbonate veins and stockwork crosscut stratigraphy striking SW @ approximately 230 degrees and predominately dip to the NW at various inclinations including occasional flat laying veins. In addition, grab samples consisting mainly of quartz-carbonate vein material at Echo assayed up to 18.4 g/t Au.(See Figure 1) (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)
Prospecting and mechanical trenching on the SCGP have resulted in the discovery of several new zones and styles of gold mineralization. It has become evident within several zones of mineralization (Echo Zone, Main Zone) that an alteration halo consisting mainly of iron carbonate and silicification ranging from 50 to 100m in width forms part of a mineralized trend across the whole property. The presence of quartz veinlets/stringers as well as cubic pyrite +/- arsenopyrite appears to be a key indicator for gold mineralization. Higher concentrations of quartz-carbonate vein stockworks and pyrite have a strong correlation for higher gold grades, however even without any quartz veinlets present, the host rock within this alteration halo can still contain anomalous gold. Gold mineralization on the property has similar characteristics to that of gold mineralization to the east of the Shabaqua Corners Gold Property (SCGP) with the presence of quartz-carbonate stockworks with multiple generations of quartz veins, pervasive carbonatization, mineralization at or near volcanic/sedimentary contact and similar style mineralization (pyrite and arseonopyrite).
The property is located within the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario near Shabaqua Corners and on trend to Delta Resources Delta 1 project. The property has seen very little exploration work.
Alexander (Sandy) Stares, President and CEO of Metals Creek states “With the limited amount of exploration work that has been historically performed in this portion of the Shebandowan Greenstone Belt, we are highly encouraged about the exploration potential for additional discoveries based on our new gold discoveries to date over a short period of time.”
The eastern boundary of the property is located 1.57 kilometers(km) west of Delta Resources (DLTA) drill hole DL-22-18 which returned an intercept of 5.92 g/t Au over 31m (Source: Delta New Release October 31, 2022). Trenching conducted on Delta’s ground 390m east of the property boundary, returned an interval of 2.22 g/t Au over 8m (Source: Delta Resources Website).
All samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. 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.
In addition, the Company is re-evaluating its 85% owned Tillex Copper Project, located in Currie Township, 65 km east of Timmins, Ontario. The Tillex Copper Deposit demonstrates near surface potential with the majority of the mineralization within 150m of surface. The Kidd Creek base metal mill is located 45 kilometers by road from the deposit.
With Canada’s Critical Minerals Strategy for Canada to become a global supplier of choice for critical minerals, as well as the recent rise in the price and demand for copper, the Company has decided to further evaluate the prospect of potentially drilling additional holes within the historic Tillex Copper Deposit. A near surface non 43-101 compliant mineral resource of 1,338,000 tonnes grading 1.56% Cu was calculated in 1990 for the Tillex Deposit (Pacifica Resources Ltd., 2005-6 Canadian Mines Handbook, page 318), however management notes that this calculation does not meet the standards as outlined in National Instrument 43-101, “Standards of Disclosure for Mineral Projects”, and has not been independently validated or verified by the Corporation, and should not be relied upon.
Metals Creek embarked on two small but successful drill programs on the Tillex Copper Deposit, one in 2008 and the latest one in 2011. Select highlights from this drilling is in the Table 1 below.
|
Hole |
From Meters (m) |
To Meters (m) |
Length Meters (m) |
Cu % |
Ag g/t |
|
TX08-002 |
30.95 |
128.00 |
97.05 |
1.19 |
NA |
|
Incl |
30.95 |
68.00 |
37.05 |
2.58 |
NA |
|
TX08-003 |
36.10 |
41.00 |
4.90 |
0.62 |
NA |
|
and |
50.63 |
73.50 |
22.87 |
1.05 |
NA |
|
Incl |
54.00 |
62.30 |
8.30 |
2.36 |
NA |
|
TX08-004 |
42.00 |
123.13 |
81.13 |
1.83 |
NA |
|
Incl |
53.00 |
80.00 |
27.00 |
2.73 |
NA |
|
TX08-005 |
51.51 |
123.00 |
71.49 |
1.29 |
NA |
|
Incl |
73.66 |
107.95 |
34.29 |
2.16 |
NA |
|
TX08-006 |
39.84 |
93.03 |
53.19 |
0.66 |
NA |
|
Incl |
64.00 |
85.00 |
21.00 |
1.06 |
NA |
|
TX08-007 |
110.43 |
124.80 |
14.37 |
0.87 |
NA |
|
Incl |
110.43 |
117.30 |
6.87 |
1.27 |
NA |
|
TX08-008 |
48.00 |
90.00 |
42.00 |
1.40 |
NA |
|
Incl |
48.00 |
71.00 |
23.00 |
2.14 |
NA |
|
TX08-010 |
46.70 |
68.30 |
21.60 |
0.83 |
NA |
|
TX08-015 |
41.20 |
49.00 |
7.80 |
0.66 |
NA |
|
and |
100.00 |
114.00 |
14.00 |
1.11 |
NA |
|
TX11-01 |
40.70 |
107.00 |
66.30 |
1.43 |
6.78 |
|
Incl |
87.20 |
102.00 |
14.80 |
2.95 |
14.99 |
|
TX11-002 |
39.30 |
82.50 |
43.20 |
1.27 |
5.45 |
|
TX11-003 |
86.84 |
96.88 |
10.04 |
1.39 |
8.97 |
|
TX11-004 |
55.10 |
60.00 |
4.90 |
1.20 |
6.81 |
|
TX11-005 |
41.64 |
83.00 |
41.36 |
0.45 |
5.44 |
|
TX11-006 |
48.00 |
81.00 |
33.00 |
0.86 |
9.36 |
|
incl |
48.00 |
57.50 |
9.50 |
2.06 |
6.35 |
|
and incl |
73.53 |
79.35 |
5.82 |
0.30 |
20.19 |
|
TX11-008 |
54.77 |
140.25 |
85.48 |
1.65 |
33.23 |
|
Incl |
89.00 |
94.00 |
5.00 |
5.55 |
355.29 |
Table 1: NA=Not Assayed
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 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 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 owns and/or has option agreements in place to acquire a 100% interest in claims in the Shabaqua Corners area of North western Ontario.
Metals Creek also has multiple quality projects available for option which can be viewed on the Company’s website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.
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
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
Figure 1
High-grade quartz stockwork from Echo Zone