TORONTO, Nov. 11 /CNW/ - Metals Creek Resources Corp. (the "Corporation",
TSXV: "MEK") is pleased to announce that the Company has received assay
results from the recently completed prospecting/mapping program on its Dogpaw
Lake Property (the "Property"). The Property is operated through an option
agreement with Endurance Gold Corporation ("Endurance", TSXV: "EDG"), in which
the Corporation can earn a 75% interest in the Property by incurring $450,000
in expenditures and issuing 450,000 common shares to Endurance over two years.
The Project is located approximately 55km southeast of the City of Kenora,
within the Kenora Mining District in Northwestern Ontario. The Property
consists of 29 unpatented staked mining claims, distributed over four separate
claim blocks, totaling approximately 5500 hectares either owned by the
Corporation or pursuant to the option agreement with Endurance.
The Property lies within the central portion of the east-trending
Wabigoon Sub-province and is host to numerous gold occurrences which have seen
little or no exploration in the past few years. This portion of the Wabigoon
greenstone belt is an emerging gold camp with exciting drill intercepts coming
from both Houston Lake Mining (as press released by this company on October
29, 2008) and Rainy River Resources (as press released by this company on
September 9, 2008). The Corporation has a significant prospective land package
in the Cedartree area enabling the Corporation to move this project forward to
the drilling stage.
This first phase of prospecting and mapping conducted by the Corporation
was initiated to help better define known historic gold showings as well as to
further evaluate the Property for additional mineralization. A total of 309
samples were collected with assays ranging from (less than)5 ppb to 90,155 ppb
gold. This program resulted in the discovery of 3 new gold showings on the
Stephens Lake claim block, with assays up to 18.56 g/t gold within a broad
zone of carbonate alteration and associated pyrite mineralization within what
is interpreted to be North-South trending structures up to 50m in width. Very
little historic work has been performed in the vicinity of the 3 newly
discovered gold showings and thus the Corporation is excited about the
potential for additional discoveries in the same area. Within the Stephens
Lake claim block, a total of 127 samples were collected, with 40 samples
(31.5%) assaying over one gram per tonne gold. It is difficult to determine
the widths or exact orientations of the gold bearing structures as the
structures are often confined to lowlands or valleys which have pervasive
overburden cover. In one of the new discoveries, exposed mineralization is
found to be approximately 10m in width on surface with assays ranging from 2.1
g/t Au to 18.56 gpt Au from 5 samples. Several historic occurrences were
visited including the Jenson, Bag and New Dogpaw Occurrences, with assays up
to 90.155 g/t Au being returned.
Alexander Stares, President and CEO of the Corporation, said "We're very
encouraged by the results of this first phase of prospecting. The encouraging
gold assays lead us to believe this represents a new opportunity to evaluate
this portion of the Wabigoon greenstone belt for its gold potential."
All assays were sent to Accurassay Laboratories, an accredited laboratory
in Thunder Bay, Ontario. The gold was analyzed utilizing a standard fire assay
and an atomic absorption finish.
Future work will include further line cutting, mapping, ground geophysics
and possibly trenching in the vicinity of the new gold showings to bring them
to the drill stage. Please visit the Corporation's website at
www.metalscreek.com for more information regarding sample locations.
Michael Macisaac, 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". The Corporation is engaged in the identification,
acquisition, exploration and development of 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.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
%SEDAR: 00021415E
