Metals Creeks Hits Visible Gold in Deepest Hole Drilled and Returns 0.45 g/t Gold over 21m at the Shabaqua Corners Gold Project

Rhea-AI Summary

On June 14, 2024, Metals Creek Resources announced promising drill results from their Shabaqua Corners Gold Property (SCGP). The deepest hole in the Echo Zone revealed visible gold with 0.45 g/t Au over 21m. Five drill holes targeted the Main and Echo Zones, with significant results including:

- GC24-001: 0.37 g/t Au over 28m, including 1.09 g/t Au over 3m.

- GC24-002: 0.48 g/t Au over 21m, within a broader 40m zone of 0.33 g/t Au.

- GC24-003: 0.15 g/t Au over 39m.

- GC24-004: 0.29 g/t Au over 3.56m.

GC24-005 showed no significant assays. The program identified extensive alteration with increasing alteration intensity and gold mineralization at depth. The SCGP is located in the Shebandowan Greenstone Belt, 54 km west of Thunder Bay, Ontario, and displays potential for further gold delineation.

Positive

• Visible gold discovered in the deepest drilling hole at SCGP.
• Significant intercepts include 0.45 g/t Au over 21m and 0.48 g/t Au over 21m.
• Increasing alteration intensity and quartz vein density with depth.
• First drilling campaign successfully delineates extensive alteration system in Echo Zone.
• Property located in a geologically promising area with proximity to other successful projects.

Negative

• GC24-005 returned no significant assay results.
• Intercepts reported are not true widths due to insufficient data on true orientations.
• Relatively low gold grades in several intercepts, such as 0.15 g/t Au over 39m.

• Visible gold intersected within highly altered sediments
• Alteration intensity and quartz vein density increasing with depth

Thunder Bay Ontario--(Newsfile Corp. - June 14, 2024) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce drill results for the Shabaqua Corners Gold Property (SCGP) with visible gold noted in the deepest hole during this program at the Echo Zone.

This drill program consisted of 5 drill holes targeting both Main Zone and Echo Zone. Initial drilling at Echo Zone exhibits strong carbonatization and silicification including moderate albitization with associated quartz veining and fine pyrite mineralization within clastic sediments. Alteration intensity and quartz vein density appear to be increasing with depth (See Fig.1 Echo Zone Cross Section), which has also been demonstrated in other locations of the Shebandowan Greenstone Belt. Associated with this increase in alteration and quartz veins, is an increase in pyrite mineralization with the occurrence of Visible Gold (VG) (See Figure 1 and Figure 2).

GC24-001 returned a downhole intercept (12.0 - 40.0m) of 0.37 grams per tonne (g/t) gold (Au) over 28.0 meters (m) including 1.09 g/t Au over 3.0m (13.0 - 16.0m). This hole drilled at Echo Zone was designed to undercut surface channel sampling from previous summers trenching program (See News release: November 29, 2023) with results including 1.04 g/t Au over 18.7m (See Fig.1). This zone contains strong carbonatization, silicification and moderate albitization with associated quartz veining ranging from 1-6%. Fine-grained disseminated pyrite is the dominant sulfide throughout the host as well as locally within white quartz-carbonate veinlets. Pyrite ranges from trace to 4% with local arsenopyrite.

GC24-002 returned a downhole intercept (63.0 - 84.0m) of 0.48 g/t Au over 21.0m within a broader zone of mineralization of 0.33 g/t Au over 40m (55.0 - 95.0m). GC24-002 was an undercut below previously described GC24-001, to expand on the strong alteration and mineralization encountered in hole GC24-001 (See Fig.1). Of particular interest in GC24-002, is an interpreted thickening of the alteration halo, which includes carbonatization, silicification and albitization, increased disseminated pyrite along with an increased density of narrower quartz veins, which appear to be more conducive to hosting free gold. Visible Gold was intercepted (See Fig 1) within a narrow quartz veinlet similar to associated veins on surface with increased gold grades.

GC24-003 returned a downhole intercept (62.0 - 101.0m) of 0.15 g/t Au over 39m. Hole 003 was located 25m east of hole GC24-001. Strong carbonatization and silicification with trace to 2% pyrite and 1-3% quartz stringers was intersected.

GC24-004 returned a downhole intercept (40.44 - 44.0m) of 0.29 g/t Au over 3.56m targeting Main Zone. Mineralization was hosted within a chert breccia with 2% pyrite and late quartz veinlets.

GC24-005 No significant assays returned. This hole targeted Main Zone intersecting a mineralized chert with pyrite and quartz veining.

Management is highly encouraged with the results to date from this recent drill program. This was the Corporation's first drilling campaign on the Shabaqua Corners Gold Property and first holes ever drilled on the property. The program was successful in delineating an extensive alteration system at Echo Zone, with associated gold values and visible gold demonstrating its continuation and increase in intensity at depth with the deepest intercept only 60m below surface. Many untested gold showings (Western Shear, Western Shear Extension, East Zone, Anomalous Zone etc..) remain to be further evaluated.

Reported intercepts are not true widths. At this time there is insufficient data to calculate true orientations.

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.

All samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 3.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.

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).

Michael MacIsaac, P.Geo and 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 a junior exploration company 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". Metals Creek has earned 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 an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek owns and/or has option agreements in place to acquire a 100% interest in claims in the Shabaqua Corners area of North western Ontario.

Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company.

Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.

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) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

Figure 1 - Echo Zone Cross section

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/212931_c0a577cb34dddb70_002full.jpg

Figure 2 - Visible Gold at Echo Zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/212931_c0a577cb34dddb70_003full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212931

FAQ

What were the significant drill results from Metals Creek's Shabaqua Corners Gold Property?

The significant drill results include 0.45 g/t Au over 21m from GC24-002, 0.37 g/t Au over 28m from GC24-001, and 0.15 g/t over 39m from GC24-003.

Where is the Shabaqua Corners Gold Property located?

The Shabaqua Corners Gold Property is located in the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario.

Did Metals Creek's recent drilling at Shabaqua Corners find visible gold?

Yes, visible gold was found in the deepest drill hole at the Echo Zone in the Shabaqua Corners Gold Property.

What are the geological characteristics of the Echo Zone in the SCGP?

The Echo Zone shows strong carbonatization, silicification, moderate albitization, and increased quartz veining and pyrite mineralization, with visible gold occurring at depth.

How did hole GC24-005 perform in Metals Creek's drilling program at SCGP?

Hole GC24-005 did not return any significant assay results in the recent drilling program at the Shabaqua Corners Gold Property.