CALGARY, April 16, 2012 -
Manson Creek Resources Ltd. (TSX VENTURE:MCK) ('Manson Creek') is pleased to provide a corporate update on the upcoming 2012 exploration season.
The Company's submission to the Yukon Environmental and Socio-economic Assessment Board (YESAB) has now entered the 'Preparing Recommendation' phase with the permitting process proceeding smoothly. The submission covers the necessary permits that would allow for the construction of a 10 to 12 person drill camp, line cutting required for the ground geophysical survey, the construction of drill pads, and up to 2,000 meters of proposed diamond drilling on the Tell project. It is anticipated that a decision will be provided within the coming weeks. The Company is finalizing logistical contracts and agreements with various vendors and service providers in the Yukon.
The exploration budget for the Up Town Gold project in the Northwest Territories is nearing finalization. The program is expected to begin in mid May with detailed geological mapping that will outline gold mineralized zones for follow-up sampling.
In order to focus resources on the Tell and Up Town Gold projects for the coming exploration year, Manson Creek has returned the Virgin Arm Newfoundland project back to the vendors.
Tell Project Background
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 extend 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 strong similarities to the Ocelot discovery which was made by drill testing a natural spring gossan displaying similar strongly anomalous zinc and other pathfinder elements.
Exploration proposed for the Tell Project in 2012 includes early season ground geophysical surveys followed up by geological and structural mapping that will provide final details for the targeted diamond drill program, slated to follow during the summer. The Company has already secured a diamond drill rig for the program.
Up Town Gold Project Background
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 that are hosted in Archean granodiorites. An increasing number of significant bulk mineable low grade gold deposits have been found in similar Archean granitic rocks in Canada and elsewhere in the World. There is a growing awareness that they constitute a separate deposit class which can be referred to as Granite Hosted Lode Gold deposits.
A due diligence visit conducted by company geologists in December located many of the historical areas of trenching and excavation on the property. Grab samples were collected at various occurrences and returned assays ranging from trace amounts of gold to as much as 46.6 g/t gold. The samples also returned significant silver values ranging from 0.1 g/t silver to greater than 100 g/t silver.
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.
Contact Information
Manson Creek Resources Ltd.
Regan Chernish
1.403.233.0464
403.266.2606 (FAX)
www.manson.ca
