Manson Creek Finds Widespread High Grade Gold and Silver at Up Town Gold Project
CALGARY, ALBERTA--(Marketwire - June 26, 2012) - Manson Creek Resources Ltd. (TSX VENTURE:MCK) ('Manson Creek') is pleased to announce it has received surface sampling assay results for the Up Town Gold project in the Northwest Territories. The May 2012 exploration program consisted of reconnaissance prospecting and sampling over the core of the 3,388-hectare property. Gold mineralization, often with significant silver mineralization, was found over three kilometers of strike in the Rod, Fox South, J7 and C areas of bedrock exposure.
The Rod Area, located on the southwest end of Baker Lake, returned an average gold grade of 22.79 grams/tonne (g/t) in 15 surface samples. Four of the samples also returned silver assays of greater than 100 g/t with the remaining 11 samples averaging 10.21 g/t silver. The samples came from outcropping shears adjacent to the main zone as well as previously trenched material. Previously trenched material was sampled due to the main Rod shear zone being flooded at the time of the program. The Rod showing remains open in all directions and strikes into nearby Baker Lake to the north. (Map of showing locations and property can be found at www.manson.ca)
The Fox South Area, located on the east side of the claim group near the historical Giant mine, returned an average gold grade of 3.06 g/t and 1.52 g/t silver in nine samples of outcrop and historically trenched material. The shears observed ranged in size from one-half meter to three meters in width. This zone strikes for over 250 meters and remains open in all directions.
The J7 Area, part of the larger J Group of showings is found north of Baker Lake, and returned 7.99 g/t gold and 35.56 g/t silver in continuous chip samples over 2.1 meters. This zone remains open along strike. Significant grab samples collected 385 meters to the east in Trench 1 included 3.25, 3.34 and 15.55 g/t gold and 4.80, 3.50, 9.10 g/t silver respectively. The Number 1 vein was sampled with a grab sample and 0.50 meter chip and returned 1.79 g/t and 5.49 g/t gold and 4.10 g/t and 1.40 g/t silver respectively.
Within the C Group Area, situated between the Rod and the Fox South Areas, the C11 shear returned 5.88 g/t gold and 0.98 g/t silver over 0.67 meters. The sample was collected at the north end of the shear before it also strikes into Baker Lake. The only sample collected on a section of the C4 shear graded 1.30 g/t gold and 3.0 g/t silver over 0.4 meters within the larger meter scale shear.
The exploration program successfully demonstrated the extensive gold and silver mineralization on the Up Town Gold property, with the exploration program focused on collecting at least one sample from a number of the laterally extensive shear zones examined. Many of the sampled shear zones strike on surface for hundreds of meters before typically disappearing under cover. Approximately half of the known shear zones on the claim block remain to be examined and sampled in future work programs.
Alteration halos surrounding the mineralized shear zones varied from meter scale to over a hundred meters adjacent to the actual shears. While the glacially smoothed bedrock can prove difficult to sample effectively with hammer and chisel, it is anticipated that follow up work will see extensive testing of the alteration halos utilizing channel samples cut with a portable rock saw.
The Company is extremely pleased with the results of the first round of exploration on the Up Town Gold project in over 50 years. The program revealed significant gold and silver mineralization in areas that extend over 3 kilometers by 2 1/2 kilometers. The Company is excited about the strong mineralization found at the Fox South Area that is located only 700 meters from the contact with the Yellowknife greenstone belt, which hosts the nearby historical Giant and Con gold mines.
To read the entire news release follow the link below:
June 26, 2012 (Source: MarketWire)
Disclosure: Manson Creek Resources is a Vulture Bargain Candidate of Interest (VBCI) and one of the issues we have dubbed a Cheapie with a Chance (CWC ) and is our Vulture Bargain #13. Members of the GGR team hold long positions in MCK.V or MCKRF.