Metals Creek signs drilling 2500 m contract for Dona Lake
Metals Creek Signs Drilling Contract For Minimum 2500 Meters Drilling At Dona Lake Gold Project.
Toronto Ontario, October 2, 2020 - Metals Creek Resources Corp. (the “Corporation”, TSXV: MEK) 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. (TSX-V: 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://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: astares@metalscreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek