Manson Creek Extends Gold Mineralization at Up Town Gold Project, NWT
CALGARY, ALBERTA -- (Marketwire) -- 01/22/13 -- 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
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J12-01 11.03 17.75 6.72 0.47 2.61 Shear Zone
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Including 11.03 14.25 3.22 0.96 5.20 Shear Zone
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Including 11.03 13.30 2.27 1.29 5.20 Shear Zone
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J12-02 6.27 7.40 1.13 0.14 0.80 Alteration Zone
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(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.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Contacts:
Manson Creek Resources Ltd.
Regan Chernish
1.403.233.0464
403.266.2606 (FAX)
www.manson.ca
