Metals Creeks Discovers New High Grade Gold Mineralization with Assays up to 4.16 g/t Gold on the Shabaqua Corners Gold Property
Thunder Bay Ontario, , July 06 2023 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, FRA:M1C1) is pleased to announce the new discovery of additional high grade gold mineralization on the eastern portion of the Shabaqua Corners Gold Property. This new discovery is the second new gold discovery (See news release: June 21, 2023) over the last several weeks which is a part of an ongoing prospecting and geological mapping program.
The property is located within the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario near Shabaqua Corners and on trend to Delta Resources Delta 1 project. The property has seen very little exploration work.
Prospecting and mapping activities on the Shabaqua Corners Gold Property continues to uncover areas of new gold mineralization within prospective areas outside of the Main Zone mineralization (See news release: May 25, 2023). This new zone of gold mineralization (East Zone) is located 397m east of Main Zone and returned assays ranging from 16 ppb (parts per billion) to 4116 ppb (4.16 grams per tonne). Gold mineralization is hosted within carbonate altered sediments which include conglomerates with associated quartz-carbonate veining and local stockwork striking roughly the same orientation to that of the main zone. Alteration is made of up strong silicification with pervasive iron carbonate. Mineralization consists of trace to 6% disseminated to stringer pyrite with trace to 2% arsenopyrite also present. ( See figure 1 and figure 2). Cubic pyrite is common throughout the alteration system and appears to be an important component for the presence of gold. Preliminary interpretation indicates gold mineralization occurs at the contact with mafic volcanics and sediments which is a high priority target for upcoming exploration work. An exploration permit has been applied for, so trenching within this and other areas on the property will take place once the permit is received. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)
Management is highly encouraged with the recent success in discovering two new gold systems ( Echo Zone and East Zone) outside of the main zone mineralization over a short period of time, demonstrating the strong exploration potential for additional discoveries through systematic prospecting.
Prospecting and geological mapping is ongoing with the aim of further delineating known gold mineralization along strike of the recently discovered gold zones as well as continuing to evaluate other prospective areas of the property. Additional samples are currently at the lab awaiting results. MEK is also targeting potential parallel gold bearing structures as demonstrated within other projects within the Shebandowan Greenstone Belt.
The eastern boundary of the property is located 1.57 kilometers(km) west of Delta Resources (DLTA) drill hole DL-22-18 which returned an intercept of 5.92 g/t Au over 31m (Source: Delta New Release October 31, 2022). Trenching conducted on Delta’s ground 390m east of the property boundary, returned an interval of 2.22 g/t Au over 8m (Source: Delta Resources Website).
