This morning, Metals Creek Resources (TSX-Venture: MEK) (OTCPK: MCREF) reported impressive high-grade gold results from the first assay received from its recently completed three-hole, 1,233-metre diamond drilling program at the Ogden Gold Project near Timmins, Ontario. The project is operated by Metals Creek through a 50/50 joint venture with Discovery Mining Ltd. (TSX: DSV) (OTCQX: DSVSF). The program targeted the lower portion of the Thomas Ogden Zone (TOG), a folded geological structure known to host gold-bearing mineralization within highly altered conglomerates and felsite units.
The standout result came from hole TOG-26-76, which intersected 115.51 g/t gold over 9.85 metres, including 356.85 g/t gold over 3.10 metres and an exceptional 2,050 g/t gold over 0.50 metres. The hole encountered intense silica alteration, quartz veining, disseminated pyrite, and multiple occurrences of visible gold, confirming the strong association between high-grade mineralization and the TOG fold hinge. The drill hole was designed to follow up on a previous intercept located approximately 75 metres below that also returned encouraging gold values.
Management said the results reinforce the significant exploration potential of the Ogden Project, with TOG-26-76 delivering the second-highest grade intercept recorded on the property to date. The company believes the abundance of visible gold and the strong nugget effect observed in the mineralization support a systematic drilling strategy focused on the TOG fold hinge, where intense folding and hydrothermal alteration appear to control the highest-grade gold zones.
Shares of MEK are currently up 33.33% at $0.06, while U.S. listed shares (MCREF) turned marginally lower in mid-morning trading.
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