Metals Creek Receives Deepest Results to Date from Dona Lake Drilling

  • Deepest Drill Intercept to date extending gold mineralization 85m down plunge
  • High Grade Intercept of 8.82 g/t Gold over 3.90m

Thunder Bay Ontario--(Newsfile Corp. - March 24, 2022) - Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce diamond drill results for drill hole DL22-024 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).

Results from drill hole DL22-024 is the deepest intercept to date from Dona Lake drilling. This hole intersected the Main Zone stratigraphy at approximately 675 meters below surface and 220 meters below the lowermost mine working (455 Level) returning a core length intercept of 8.82 grammes per ton (g/t) gold (Au) over 3.90 meters (m) (723.00 - 726.90m). This was a part of a broader zone of mineralization of 3.42 g/t Au over 19.61m (707.29 - 726.90m). (See Table 1 Significant Results and figure 1 Schematic Longitudinal). This hole demonstrates that the iron formation, with associated alteration, deformation and mineralization continues down plunge, remaining open at depth. Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to disseminated pyrrhotite ranging from 1 to 15% with local pyrite. Aside from pyrrhotite mineralization, alteration consists of moderate to strong hornblende, garnet and grunerite. DL22-024 was drilled to test the interpreted center of the plunge line, piercing approximately 85 meters below the previously reported deepest hole DL21-016, which intercepted 5.00g/t Au over 3.00m (see MEK news release dated 18 August 2021 and Figure 2 Schematic Section DL21-024).

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Figure 1 Schematic Longitudinal

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Figure 2 Schematic Section DL22-024

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Management is highly encouraged with the assay results from hole DL22-024. This intercept clearly demonstrates the continuity of high-grade gold mineralization and associated silicate-oxide iron formation below current drilling as well as strong alteration and pyrrhotite.

Drilling is ongoing and will continue to target the down plunge extension of the mine stratigraphy as well as test peripheral targets which include the North West Zone and the East Iron Formation.

Drillhole NumberMeters FromMeters ToTotal MetersG/T GoldZone
DL22-024707.29726.9019.613.42Main
including723.00726.903.908.82Main

 
Table 1 - Significant Results

Drill intercepts are core lengths and are believed to be 70-80% true thickness.

Further drill results will be released once 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.

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 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 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
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/117970

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