TORONTO, Oct. 14 /CNW/ - Metals Creek Resources Corp. (the "Corporation",
TSXV: 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.
For further information:
For further information: Alexander (Sandy) Stares, President and CEO,
Metals Creek Resources Corp, telephone: (709) 256-6060, fax: (709) 256-6061,