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Metals Creek Confirms Gold Mineralization Continues at Depth at The Dona Lake Gold Mine, Drills 8.07 g/t Gold Over 7 Meters Including 17.6 g/t Gold Over 1 Meter

15.09.2020  |  Newsfile

Toronto, September 15, 2020 - Metals Creek Resources Corp. (TSXV: MEK) (the "Corporation") is pleased to announce the final results from its recently completed diamond drill program from the Dona Lake Gold project.

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 grams per tonne (g/t) Gold (Au) over 7 meters (m) (531.6 - 538.6 m). Included in this intercept is a high grade intercept of 17.6 g/t Au over 1 m (See Table Below).

Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to semi-massive pyrrhotite ranging from 3 to 30% 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.

Table 1. Drill Hole Intercepts.

Drill Hole Meters From Meters to Gold grams per tonne Total Meters
DL20-003 531.6 538.6 8.07 7.0
Including 532.45 533.45 17.6 1.0


Holes DL20-001 and DL20-002 which were reported in the last news release (see MEK news release dated 08 September 2020), were collared to test the continuation of gold mineralization immediately south of Dona Lake mine workings. Included in this release was hole DL20-002 which returned a core length intercept of 8.45 g/t Au over 3.15m (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).

Drill intercepts reported in holes DL20-001, 002, and 003 are not true widths. There is insufficient data at this point to determine a true orientation.

Alexander (Sandy) Stares, President and CEO of Metals Creek states, "Management is highly encouraged with the drill results from this initial drill program on the Dona lake Gold project. A substantial amount of time has gone into generating the current Dona Lake geological model from data that was in non-digital form. Hole DL20-003 authenticates the current model and demonstrates the continuation of gold mineralization at depth, below the lower most level."

Currently, the Corporation in is the final stage of planning holes for an upcoming drill program (Phase 2) for this coming fall.

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 1,063 hectares and covers the past producing Dona Lake Mine.

Currently there are four known gold bearing oxide iron formations that host gold mineralization on the Dona Lake Gold Project. During compilation work by Corporation personnel, 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) was drilled by Placer Dome (Mine Operator) and returned a down hole intercept of 4.36 g/t Gold over 21.08 meters 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 by Placer Dome (Mine Operator) 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 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/dona-lake-presentation-april-2020.pdf

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 Act 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 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 Corp., 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 Corp., 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/63858


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