Manson Creek Provides Corporate Update
CALGARY, ALBERTA--(Marketwire - Sept. 14, 2012) - Manson Creek Resources Ltd. ('Manson Creek') (TSX VENTURE:MCK) is pleased to provide a corporate update on the successful 2012 exploration season.
Tell Project, Yukon - The IP geophysical survey examined the area containing the seven anomalously mineralized natural spring gossans (Table 1.). The IP survey identified a large zone of chargeability, interpreted to represent sulfides, that correlates well with the mineralized gossans at surface. The zone of chargeability strikes northwest and has a strike length of over 500 meters as it continues to the northwest and southeast beyond the bounds of the geophysical grid. The anomaly has an apparent width of 100 meters and continues to depth off the pseudo sections. This potentially sulfide bearing anomalous zone is an excellent target for precious metals and has significant size potential. The chargeability zone corresponds with a zone of low resistivity interpreted to represent a hydrothermal alteration zone.
|Table 1. Gossan Sample Results|
|Location||Number of Samples and Type||
|Roswell||2 Soil Samples||
||5,795 to 7,149||
||966 to 1,114||
||<0.1 to 0.1|
|Crystal Springs||6 Soil Samples||
||6,005 to 23,500||
||245 to >1,000||
||4.0 to 110||
||<0.1 to 0.8|
|Ash Springs||3 Soil/Silt Samples||
||10,800 to 24,500||
||425 to >1,000||
||114 to 358||
|Ash Springs||3 Rock Samples||
||19,700 to 27,500||
||1,056 to 1,591||
||10 to 25||
||0.6 to 1.0|
|Area 51||4 Soil/Silt Samples||
||4,738 to 8,565||
||164 to >1,000||
||1,149 to 1,816||
||<0.1 to 0.2|
|Majestic||7 Soil Samples||
||12,500 to 17,700||
||808 to >1,000||
||18 to 33||
||0.1 to 0.2|
|Corona||1 Soil Sample||
|Tell Zone (Historical sampling)||4 Soil/Silt Samples||
||20,020 to 49,600||
||1,545 to 2,560||
||16 to 103||
||<0.2 to 0.2|
|Tell Zone||8 Rock Samples
|)||15,700 to 24,900||
||401 to 604||
||8 to 30||
||<0.2 to 0.4|
Work on the Tell property in 2011 led to the discovery of six new mineralized natural spring gossans. These discoveries were in addition to the strongly mineralized Tell showing. The new discoveries extend over an area of 600 meters east to west and over 450 meters north to south with the mineralization remaining open in all directions. The 2,200 hectare Tell property is located immediately south of ATAC Resources Ltd.'s Rau claim block.
The Company believes the seven Tell property gossans to be of extreme significance due to the number of successful drill discoveries made on similar gossans in the region. The Tell gossans, which have not been drill tested to date, bear remarkable similarities to the ATAC Resources Ltd.'s Ocelot discovery that was made by drill testing a natural spring gossan displaying similar strongly anomalous zinc and other pathfinder element values.
Up Town Gold Project, Northwest Territories - The Up Town Gold property is within sight of two prolific gold producers, the Giant and Con gold mines that have produced over 12,000,000 ounces of gold. The property encompasses five known gold bearing zones hosted in Archean granodiorites. Work in 2012 consisted of reconnaissance prospecting and sampling over the core of the 3,388-hectare property. Gold mineralization, often with significant silver mineralization, extends over three kilometers of strike in the Rod, Fox South, J7 and C areas. Significant results included 22 of the 91 samples collected returning gold grades between 1.30 grams/tonne (g/t) gold to 113.5 g/t gold with silver locally in excess of 100 g/t.
Highlights from a number of the mineralized zones include:
- The Rod zone returned an average gold grade of 22.79 g/t in 15 surface samples. Four of the samples produced silver assays greater than 100 g/t with the remaining 11 samples averaging 10.21 g/t silver. The Rod zone remains open in all directions;
- The Fox South Area, near the historical Giant mine, returned an average gold grade of 3.06 g/t gold and 1.52 g/t silver in nine samples with this zone striking for over 250 meters and it remains open in all directions;
- The J7 Area produced assays of 7.99 g/t gold and 35.56 g/t silver in continuous chip samples over 2.1 meters of true width, this zone also remains open along strike.
The exploration program successfully demonstrated the extensive gold and silver mineralization on the Up Town Gold property. 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 an area of 3 kilometers by 2 1/2 kilometers.
Corporate - The Company successfully completed a $106,000 private placement in the spring that funded all the exploration work in 2012. Additionally, Manson Creek received a five-year Class 3 Land Use Permit that will allow for the continued exploration and future diamond drilling on the Tell property.
The Company is working to secure financing or alternative sources to advance the next round of exploration that will follow up on the significant results attained in the 2012 season.
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.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
September 14, 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). Members of the GGR team hold long positions in MCK.V or MCKRF.