CALGARY, Nov. 5, 2012 -
Manson Creek Resources Ltd. ('Manson Creek') (TSX VENTURE:MCK) is pleased to announce that Phase Two exploration is underway on the Up Town Gold project in the Northwest Territories.
Exploration work is focusing on gold and silver mineralized zones identified in Phase One completed earlier this year. Phase One exploration consisted of reconnaissance prospecting and sampling over selected areas within the core of the 3,388-hectare property. Significant gold and silver mineralization is present over three kilometers of strike along the Rod, Fox South, J7 and C areas of bedrock exposure.
The Phase Two exploration program will examine in detail many of the shear zones and associated alteration zones that returned significant gold and silver assays earlier in the year. Much of the Phase One sampling consisted of grab samples and hand chiseled chip samples from glacially smoothed bedrock where it was possible to do so. The current exploration program will utilize rock saws to cut channels across zones of mineralization and alteration to allow for detailed and representative sampling of the mineralization. Work will begin on the Fox South, J and C Zones with activity tentatively scheduled for the Rod Zone as accessibility to the Rod Zone has been hampered this year due to high water conditions.
A small man-portable prospector drill will also test a number of the significantly mineralized zones to a shallow depth. Additionally, a large number of historic mineralized shear zones that were not inspected in Phase One will be prospected and sampled. The objective of Phase Two is to confirm and expand upon results to date that have indicated widespread mineralization present across the 3 kilometer by 2 1/2 kilometer system.
Up Town Gold Project Background
The Up Town Gold property is within sight of two historical 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. Manson Creek has completed reconnaissance prospecting and sampling over much of 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 (Map of showing locations and Phase One sampling can be found at www.manson.ca). 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 of Manson Creek sampling from a number of the mineralized zones include:
- The C Zone, situated between the Rod and Fox South Zones, returned significant results of 5.88 g/t gold and 0.98 g/t silver in one of the areas;
- 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 the 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.
Historic work on the Up Town Gold property, done primarily in the 1960's, focused on quartz filled shears and associated quartz veins while largely ignoring the larger zones of hydrothermally altered host granodiorite. The shear zones, associated fractures and quartz veins vary from millimeter widths to well over 3.0 meters and they commonly are surrounded by a broader alteration halo. The alteration consists of silicification and sericitization with hematite alteration. Mineralization is present at surface with exposures varying between tens to hundreds of meters.
Several of the gold bearing zones on the Up Town Gold property had historical estimates completed in the 1960's with over 2,500 meters of diamond drilling completed. In many of the historic assessment reports there is mention of hydrothermally altered host rock but no systematic sampling was ever conducted on these altered zones.
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
Manson Creek Resources Ltd.
Regan Chernish
1.403.233.0464
www.manson.ca
