Manson Creek Extends Gold Mineralization at Up Town Gold Project, NWT
22 Gennaio 2013 - 4:56PM
Marketwired Canada
Manson Creek Resources Ltd. ('Manson Creek') (TSX VENTURE:MCK) is pleased to
announce the results of the prospector drill component of the fall exploration
program on the Up Town Gold project in the Northwest Territories. The Company
utilized a small man portable prospector drill, a JKS Winkie drill, to test
extensions of the mineralization observed in the J3B trench, which contained
7.80 grams/tonne (g/t) gold and 23.31 g/t silver over 3.2 meters.
The first drill hole, J12-01, was collared on a narrow peninsula, approximately
20 meters north of where the J3 shear and alteration zone trends into the lake,
and was drilled to a depth of 19.02 meters. The drill hole cut 7.90 meters, from
9.85 meters to 17.75 meters, of moderately to strongly altered and sheared
granodiorite hosting a broad intersection of 0.47 g/t gold and 2.61 g/t silver
over 6.72 meters cored by 1.29 g/t gold and 5.20 g/t silver over 2.27 meters.
The Company is evaluating the Up Town Gold project for its low grade bulk
tonnage potential and the broad intersection of low grade mineralization
encountered in hole J12-01supports the current exploration model.
The alteration associated with the mineralization, and broader anomalously
mineralized halo, is strongly micro-fractured. The micro-fractures have
hydrothermal biotite infilling the fractures with subsequent alteration of the
biotite to chlorite. This alteration is significant as the exploration models
the Company is using for the Up Town Gold property, based on the Hammond Reef
and Cote Lake deposits, has gold hosted within lithologies exhibiting an
appropriate concentration of brittle micro- to macro-fracturing with associated
alteration similar to what is observed on the property.
The second drill hole was collared to undercut the outcropping southern end of
the J3 shear, where the J3C trench reported 0.60 g/t gold and 3.0 g/t silver
over 1.3 meters, and was drilled to a depth of 12.90 meters. This trench is
located approximately 15 meters to the south of J3B and 35 meters south of hole
J12-01. Drill hole J12-02 returned 0.141 g/t gold and 0.80 g/t silver over 1.13
meters.
The JKS Winkie drill is an excellent prospecting tool to obtain a quick
geological sample of near surface material in areas of thin cover or near shore
in lakes. The small core diameter, 22 mm versus 47.6 mm for NQ core that is
commonly utilized in diamond drilling, lends itself well enough for geological
examination and description but it can be problematic for a definitive assay
sample. The winkie drill core samples are effectively 1/4 the sample weight of
the comparable rock saw channel samples from the fall for the same sample
interval length. In order to ensure sufficient material was sampled, the entire
core was assayed after it was photographed and geologically logged. With the two
holes drilled in the fall, core loss was an issue in many of the intervals in
prospective zones. As a result, it is the company's belief that the core results
are likely to have under reported the mineralization, while still extending the
zones at depth and confirming the broader potential associated with intrusion
hosted mineralization.
Table 1. J3 Significant Sample Results
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Depth Depth Mineralized Gold Silver
Drill Hole From (m) To (m) Interval (m)(i) g/t g/t Description
----------------------------------------------------------------------------
J12-01 11.03 17.75 6.72 0.47 2.61 Shear Zone
----------------------------------------------------------------------------
Including 11.03 14.25 3.22 0.96 5.20 Shear Zone
----------------------------------------------------------------------------
Including 11.03 13.30 2.27 1.29 5.20 Shear Zone
----------------------------------------------------------------------------
J12-02 6.27 7.40 1.13 0.14 0.80 Alteration Zone
----------------------------------------------------------------------------
(i) Interval is downhole length
The results of the fall exploration program highlight the widespread gold and
silver mineralization present on the 3,388-hectare Up Town Gold property. The
recognition of the alteration assemblage that is a significant component of this
style of gold deposits elsewhere makes the Up Town Gold project a compelling
exploration project.
Table 2. J3 Drill Hole Details.
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Drill Hole Easting Northing Azimuth Dip Final Depth
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J12-01 632,807 6,935,210 090 -45 19.02 m
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J12-02 632,800 6,935,175 090 -45 12.90 m
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(i) NAD83/11N
Analytical Method
The drill core was transported from the drill site to a secure warehouse in
Yellowknife where it was photographed and geologically logged. The entire core
was then sampled and submitted to Acme Labs in Yellowknife, Northwest
Territories for analysis with all of the core samples analyzed using inductively
coupled plasma (ICP) together with mass spectrometry (MS) finish. Gold was
analyzed by a fire assay preparation with an ICP-ES finish.
Corporate Update
In light of the current market conditions, Manson Creek and Panarc Resources
Ltd. have agreed to amend the Up Town Gold Property Agreement dated January 23,
2012 as follows:
-- Manson Creek will issue the 2013 Up Town Gold Property common share
payment of 100,000 common shares as scheduled on the January 23, 2013
anniversary;
-- The $30,000 cash payment due on January 23, 2013 will be deferred until
March 25, 2013;
All other Terms related to the January 23, 2012 Agreement in effect.
The President of Manson Creek Resources Ltd., Regan Chernish P.Geol., is the
Qualified Person responsible for the preparation of this news release.
Regan Chernish, P. Geol., President and Director
Except for the historical and present factual information contained herein, the
matters set forth in this news release, including words such as "expects",
"projects", "plans", "anticipates" and similar expressions, are forward-looking
information that represents management of Manson Creek's internal projections,
expectations or beliefs concerning, among other things, future operating results
and various components thereof or the economic performance of Manson Creek. The
projections, estimates and beliefs contained in such forward-looking statements
necessarily involve known and unknown risks and uncertainties, which may cause
Manson Creek's actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. These risks and
uncertainties include, among other things, those described in Manson Creek's
filings with the Canadian securities authorities. Accordingly, holders of Manson
Creek shares and potential investors are cautioned that events or circumstances
could cause results to differ materially from those predicted. Manson Creek
disclaims any responsibility to update these forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Manson Creek Resources Ltd.
Regan Chernish
1.403.233.0464
403.266.2606 (FAX)
www.manson.ca
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