Toronto, Ontario – (Newsfile Corp. – October 2, 2020) – Metals Creek Resources Corp. (TSXV: MEK) (the “Company”) is pleased to announce that the Company has hired M3 Drilling to perform a drilling program of at least 2,500 meters on the Dona Lake gold project. This drilling program is expected to begin during the latter part of October once the drilling becomes available. An announcement will be made once drilling has started.
This upcoming program will be designed to further test gold mineralization immediately south of the Dona Lake mine, including the Main and B-Zone mineralized horizons. Deeper drilling will also take place to further assess further gold mineralization below the lowest level (455L) of the Dona Lake mine. Part of this deeper drilling will consist of testing gold mineralization under hole DL20-03 (see MEK press release of September 15, 2020) which intercepted mineralization 500m vertically below surface.
On June 12, 2019, Metals Creek Resources Corp. (TSXV: MEK) announced that it has signed an option agreement with Newmont Corporation in which Metals Creek may acquire a one hundred percent interest in the Dona Lake gold property located in the Pickle Lake mining district, 9 km north. Southeastern Town of Pickle Lake, Northwestern Ontario The project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,063 hectares and covers the former Dona Lake mine. The Dona Lake mine, an underground operation from 1989 to 1994, produced 246,500 ounces of gold at a grade of 7.44 grams per tonne (Source: 2015 Institute of Lake Superior Geology Fieldtrip Guidebook). In 1994, when the mine closed, the average price of gold was around $ 383.23 (US) per ounce. (Source; http://onlygold.com/Info/Historical-Gold-Prices.asp). The Pickle Lake Greenstone Belt is home to several historic mines, including the Dona Lake Mine, Central Patricia Mine, and Pickle Crow Mine. Dona Lake is accessible by an all-weather road southeast of the town of Pickle Lake.
On July 8, 2020, Metals Creek announced that it had started drilling on the Dona Lake project. They drilled 3 holes totaling 1,411 meters, two shallow holes to test the Main Zone and Zone B and one deep hole to confirm the continuation of gold mineralization below the mine’s lowest level (level 455).
Hole DL20-001 was drilled to test the continuation of gold mineralization south of the Dona Lake mine 121 m below surface. The main zone returned a core length intersection of 4.53 grams per tonne (g / t) of gold (Au) over 1 meter (m) (139.00 to 140.00 m). The mineralization consisted of 1 to 2% disseminated pyrrhotite with associated strong silicification and quartz veins.
Hole DL20-002 was drilled to test the continuation of gold mineralization immediately south of the Dona Lake mine workings approximately 220 m below the surface. The first zone, which is interpreted to be the main zone, returned an intersection of core length of 8.45 g / t Au over 3.15 m (254.85-259.00 m). This intersection was part of a larger zone of mineralization returning a core length of 5.67 g / t Au over 5.15 m (254.85-260.00 m). The mineralization is hosted in an iron silicate-sulfide formation and characterized by stringy to semi-massive pyrrhotite ranging from 3 to 40% with locally pyrite and magnetite. The alteration includes strong silicification with associated and locally moderate to strong quartz veins of grunerite, garnet and biotite in conjunction with strong folding.
A second zone of mineralization further down the hole returned a core length intersection of 2.34 g / t Au over 9.2 m (278.60-287.80 m). The mineralization is hosted in an iron silicate sulphide formation with 1 to 6% disseminated stranded pyrrhotite as well as 1% traces of local pyrite and magnetite. The alteration consists of strong silicification with quartz veins and locally biotite, garnet and grunerite. This second zone of mineralization is interpreted as B-Zone.
Drill hole DL20-003 was designed to test the continuation of gold mineralization below the lowest level of the Dona Lake mine (level 455). This hole penetrated the main zone approximately 500 m below surface and returned a core length intersection of 8.07 g / t Au over 7 m (531.6 – 538.6 m). This intersection includes a high grade intersection of 17.6 g / t Au over 1 m.
|Meters to||Gold g / t||Total meters|
Gold mineralization at Dona Lake is hosted by three prominent banded iron formations, the middle iron formation housing the Dona Lake mine (main zone). The main zone remains open at depth with limited drilling along strike. Mining stopped at the 455m level with historic drill results below the 455m level which selectively include 13.62 g / t Au over 13.00 m, 8.74 g / t Au over 3.9 m and 8.57 g / t Au over 2.8 m. When compiling the historical data, it was determined that the deepest hole found to date had been drilled approximately 100m below the main zone mine sites (455m). This hole (455-2) returned a downhole intersection of 4.36 g / t Au over 21.08 m indicating the continuation of mineralization at depth below the lower level (level 455) of the main zone of the Dona Lake mine.
A second zone (Zone B), the main zone wall, has been partially drilled but has seen only limited development and test mining and is open at depth with limited drilling along the strike. Zone B is defined as a steeply dipping zone with selective historical 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 5.85 m and 12.44 g / t Au over 4.6 m
The historical drill intersections mentioned above are historical in nature and have not been verified or validated by the Company. Interceptions reported are not actual widths. At present, there is insufficient data to calculate a true direction.
A presentation for the Dona Lake Gold Project can be viewed at:
In addition to its portfolio of projects, Metals Creek also holds an equity position in other companies such as O3 Mining (OIII), Sokoman Minerals (SIC), Quadro Resources (QRO), Anaconda Mining (ANX), Benton Resources ( BEX), White Metal Resources (WHM), Trifecta Gold (TG), Manning Ventures (Mann), Magna Terra Minerals (MTT) and others.
Michael MacIsaac, P.Geo and VP Exploration for the Company and a Qualified Person as defined in National Instrument 43-101, is responsible for this press release and has overseen the preparation of the information forming the basis of this press release.
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 its common shares are listed on the Exchange under the symbol “MEK”. Metals Creek has acquired 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 a strike length of 8 km of the prolific Porcupine-Destor (P-DF) fault. In addition, Metals Creek has signed an agreement with Newmont Corporation, under which Metals Creek may acquire a 100% interest in the producing Dona Lake gold project in the Pickle Lake mining district in Ontario.
Metals Creek also has several quality projects available for option in Ontario and Newfoundland which can be viewed on the Company’s website. Parties interested in seeking more information on the properties available for the option may contact the Company at the number below.
Additional information concerning the Company is contained in the documents filed by the Company with the securities regulatory authorities, 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) watches
President and CEO
Metals Creek Resources Corp
phone: (709) -256-6060
fax: (709) -256-6061