Manson Creek Resources Ltd. is a mineral exploration company focused on the acquisition and exploration of early stage gold projects across Canada. The Company is led by a technical team of four professional geologists with extensive project generation and exploration experience in throughout Canada and around the world.
The Company has been approved for a Yukon Mining Assistance Program (‘YMIP’) grant on the grubstaked Grommet property. The grant will reimburse 50% of qualifying expenditures to a maximum of $25,000. Work is now underway on the property, located 200 kilometers east of Whitehorse, Yukon.
The Grommet property is comprised of 14 mineral claims located in the Watson Lake Mining District, staked by Panarc Resources. The property was first examined briefly in the in the early 1980’s following up on coincident copper-molybdenum stream sediment anomalies on the property. The grass root work that was completed outlined a 3500 meter by 650 meter molybdenum in soil anomaly. Coincident with the molybdenum were anomalous copper, lead and silver. The historic work did not include assaying for gold. The property is now being explored for a copper-molybdenum-gold porphyry system.
The current work program consists of comprehensive soil sampling, prospecting and geological mapping to delineate the gold potential of the property. The 2013 work is following up on the brief prospecting and reconnaissance soil sampling conducted on the property in 2012. The 2012 reconnaissance soil sampling survey outlined defined a soil geochemical gold anomaly in the northern portion of the property with peak values of 335 parts per billion (ppb). These strongly anomalous gold values are significant as the property was glaciated and has an immature soil profile. Another significant discovery of the 2012 program was a grab sample of vein material in southern portion of the property which returned 2.04 grams per tonne gold. The results of the 2012 reconnaissance program demonstrated that the porphyry system carries gold in addition to copper and molybdenum.
The grubstake agreement with Panarc Resources on the Grommet property allows Manson Creek to explore the property with the current program with a planned budget of up to $50,000. The work will then give the Company exclusive right to enter option agreement discussions 90 days following receipt of final exploration report with the analytical results. The Company is excited to have up to 50% of the current exploration program funded by outside capital.
UP TOWN GOLD PROJECT, NWT
The Company is eagerly awaiting Exchange approval, expected late July or early August, 2013, of the option of the Up Town Gold Project to Petro-Occidente Capital Corp. (TSXV:OPP.P) (‘OPP’) where Manson Creek is assigning its option to acquire 100% of the Up Town Gold property, subject to a 2.5% net smelter return royalty held by the underlying vendor, to OPP.
The Manson Creek will receive a $25,000 cash payment and 100,000 common shares of OPP upon the closing of the acquisition. Manson Creek will receive an additional 100,000 common shares of OPP on or about January 28, 2014 and again on or about January 28, 2015 provided the option remains in effect.
Exploration in 2012 on the 3,388-hectare property, located adjacent to the historic Giant mine, involved reconnaissance prospecting and sampling, detailed mapping and locally extensive rock saw cut channel sampling over selected zones within the core area of the property. It has been demonstrated that 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 Company is encouraged with the Fox South sample results that outline an open-ended shear and alteration zone extending for over 470 meters. The widespread gold and silver mineralization occurs in the shadow of the historic Giant gold mine, located just 1.5 kilometers to the east. The proximity to the Yellowknife Greenstone Belt, host to both the historic Giant and Con gold mines, is compelling. Therefore, Manson Creek is currently considering follow up work on the Fox South zone in 2013.
The Company is eagerly awaiting the completion of the paved highway bypass that will cut through favourable geology within 500 meters of the Fox South zone. The road construction, currently underway, will provide an unprecedented opportunity to expose significant areas of new geology that compares favourably to other mineralized areas of the property. Manson Creek believes that the widespread hematite alteration associated with the gold and silver mineralization indicates that a large, widespread mineralized plumbing system is present within the Up Town Gold project property.
Up Town Gold Project, NWT Background
The Company is extremely pleased with the results of its first year of exploration on the Up Town Gold project that has remained unexamined for over 50 years. Gold mineralization, often with significant silver mineralization is present in an area of over 3 kilometers by 2˝ kilometers.
The Company is excited about the strong mineralization found at the Fox South Area that is located only 700 meters from the contact with the Yellowknife greenstone belt, which hosts the nearby historical Giant and Con gold mines. The Fox South Area returned an average gold grade of 3.06 g/t and 1.52 g/t silver in nine samples of outcrop and historically trenched material. The shears observed ranged in size from one-half meter to three meters in width. This zone strikes for over 250 meters and remains open in all directions.
The J7 Area, part of the larger J Group of showings is found north of Baker Lake, and returned 7.99 g/t gold and 35.56 g/t silver in continuous chip samples over 2.1 meters. This zone remains open along strike. Significant grab samples collected 385 meters to the east in Trench 1 included 3.25, 3.34 and 15.55 g/t gold and 4.80, 3.50, 9.10 g/t silver respectively. The Number 1 vein was sampled with a grab sample and 0.50 meter chip and returned 1.79 g/t and 5.49 g/t gold and 4.10 g/t and 1.40 g/t silver respectively.
Within the C Group Area, situated between the Rod and the Fox South Areas, the C11 shear returned 5.88 g/t gold and 0.98 g/t silver over 0.67 meters. The sample was collected at the north end of the shear before it also strikes into Baker Lake. The only sample collected on a section of the C4 shear graded 1.30 g/t gold and 3.0 g/t silver over 0.4 meters within the larger meter scale shear.
The Rod Area, located on the southwest end of Baker Lake, returned an average gold grade of 22.79 grams/tonne (g/t) in 15 surface samples. Four of the samples also returned silver assays of greater than 100 g/t with the remaining 11 samples averaging 10.21 g/t silver. The samples came from outcropping shears adjacent to the main zone as well as previously trenched material. Previously trenched material was sampled due to the main Rod shear zone being flooded at the time of the program. The Rod showing remains open in all directions and strikes into nearby Baker Lake to the north.
TELL PROJECT, YUKON-BACKGROUND
The Company has completed an Induced Polarization (IP) geophysical survey on the Tell Property in the summer of 2012. The program examined the area of the claim block hosting seven mineralized natural spring gossans. The IP survey identified a large zone of chargeability, interpreted to represent sulfides, 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 and represents exceptional drill targets.
Manson Creek is fully permitted for camp construction and diamond drilling on the Tell project and is actively pursuing funding for diamond drilling to test the outstanding targets present on the property.
The first pass of exploration on the Tell property in 2011 yielded the remarkable discovery of six new gossan zones proximal to the main Tell showing gossan. The Company has now identified and outlined seven mineralized natural spring gossans on the Tell property.
Manson Creek geologists, prospecting in the area of the original Tell natural spring gossan and vegetation kill zone, discovered six new, well developed, active and previously active natural spring gossans; Crystal Springs, Ash Springs, Area 51, Roswell, Majestic and Corona. The new discoveries extend over an area 600 meters roughly east-west, from the large Tell Zone and 450 meters north-south. Many of the gossans contain numerous active and previously active spring vents.
Soil and rock samples collected from the Tell Zone, Crystal Springs, Ash Springs, Area 51, Majestic, Corona and Roswell zones returned highly anomalous zinc, nickel, lead, arsenic and numerous other gold pathfinder element values. Property-wide stream sampling has outlined two additional, regional geochemical anomalies Area 13 and Area 15, located 2 kilometers and 4 kilometers west of the main Tell showing respectively.
Manson Creek 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. ATAC Resources Ltd.’s Ocelot discovery was made by targeting an undrilled natural spring surface gossan with associated strongly anomalous zinc and lead sample results. Like the Ocelot zone, the seven Tell property gossans are located near regional carbonate units within structurally complex geology in, and proximal to, the Rackla gold belt. The seven Tell property gossans have never been drill tested.