- Published: 14 October 2008
- Written by Editor
Metals Creek Resources Corp. Announces High Grade Copper Assays From Recently Completed Drill Program on the Tillex Copper Deposit
Metals Creek Resources Corp. (the "Corporation") (TSX-V: MEK) is pleased to announce high grade copper assays, including 2.58% Cu over 37.05m, from the recently completed 2 hole 276 meter drill program on its Tillex property which is located 65 km east of Timmins, ON and 45 km from Xstrata's Kidd Mill and Metallurgical Site.
- TX08-001 27.80m down hole intercept (37.20 to 65.00m) of .272% Cu - TX08-002 97.05m down hole intercept (30.95m to 128m) of 1.194% Cu including 37.05m (30.95 to 68m) of 2.583% Cu, Including 1.243% Lead over 4m (106.0 to 110.0m) and 1.93% Zinc over 1.93m (97.50 to 99.43m) as well as 3.596% Zinc over 2m(107 to 109m).
This confirmation drill program previously reported August 19, 2008 was designed to replicate two previously drilled holes to increase the company's confidence in the historic non 43-101 resource as well as providing additional information for the purposes of geological modeling. Mineralization is described as chalcopyrite with local sphalerite and galena within a mixed sequence of andesite, graphitic argillite, dacitic tuff and feldspar porphyry. Both holes were drilled at an azimuth of 315 deg. with hole TX08-001 drilled at an inclination of -51 deg. and hole TX08-002 drilled at an inclination of -71deg. True widths are believed to be approximately 50-60% of the down hole intercepts. Due to the blocky nature of the core in hole TX08-001, poor core recoveries were attained. Drill procedures were changed for hole TX08-002 with significantly better core recoveries and results.
Future work on the property will entail additional ground geophysics to better define the mineralized stratigraphy as well as more drilling once geological modeling is complete.
Alexander Stares, President and CEO of the company states, "These results are very significant for the corporation in that these holes demonstrate the near surface and bulk tonnage potential of this property after this first phase of drilling."
All assays were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario. The precious metals were analyzed utilizing a standard fire assay and an atomic absorption finish while the base metals were analyzed utilizing acid digestion with an atomic absorption finish. As part of the companies QAQC protocol, approximately 10% of the samples submitted for assay were also sent to Actlabs located in Thunder Bay, Ontario. Also part of the corporations sampling protocol, standards and blanks were inserted randomly.
In connection with its private placement which closed as previously announced on September 9, 2008, the Corporation paid to M Partners Inc. a finder's fee of $27,876.00. M Partners Inc. also received 194,800 broker options, each option being comprised of one unit for a subscription price of $0.18 made up of one common share and one half of one common share purchase warrant, which expires 18 months from the date of issuance. Each whole warrant entitles M Partners Inc. to purchase one common share for $0.25 and expires 18 months from the date of issuance.
Mike MacIsaac, PGeo, Vice President of 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.
Distributed by Filing Services Canada and retransmitted by Marketwire
For further information, please contact: Alexander (Sandy) Stares President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709)-256-6061 email: Email Contact
SOURCE: Metals Creek Resources Corp.