News Releases
| August 14, 2006 MetalCORP; BIG LAKE Drilling Expands High Grade VMS Discovery With Latest Hole Yielding | |
| THUNDER BAY---14 August 2006 -- MetalCORP Limited (TSX-V:MTC) is pleased to announce that drilling on its 100% owned Big Lake project, located 10km southeast of Marathon or 10km southwest of the Hemlo gold mines, Ontario has intersected 5.1 metres or 16.7 feet (true width) of high grade mineralization assaying 4.2% Copper (Cu), 1.2% Zinc (Zn), 67.1 g/t Silver (Ag) and 2.1 g/t Gold (Au) from 91.3 to 96.4 metres in hole #34 from the BL14 Zone. This section included a higher grade zone of 7.7% Cu, 2.2% Zn, 123.8 g/t Ag and 3.9 g/t Au over 2.6 metres (8.5 feet). In terms of gross metal value, this intersection is equal to approximately US$ 835.0/tonne. This latest hole (#34) of the current program was collared 25 metres south of hole #32 which yielded 8.2% Cu, 2.7% Zn, 140.0 g/t Ag and 1.0 g/t Au over 4.4 metres (14.4 feet) for a gross metal value of approximately US$ 836.0/tonne. Hole #34 was collared 50 metres south of hole #24 which intersected 7.5% Cu, 2.2% Zn, 138.0 g/t Ag & 9.2 g/t Au over 4.0 metres (13.1 feet) for a gross metal value of approximately US$ 944.0/tonne. Hole #33, which was collared 25 metres west of hole #32, intersected 1.9% Cu, 0.7% Zn, 35.0 g/t Ag and 0.3 g/t Au over 5.2 metres. This included a higher grade section which assayed 3.5% Cu, 0.6% Zn, 67.2 g/t Ag and 0.7 g/t Au over 2.3 metres. Hole #35, which was collared 25 metres east of hole #32, intersected 2 zones separated by a 5.0 metre alteration zone. The main mineralized zone yielded 2.7% Cu, 1.2% Zn, 45.3 g/t Ag and 0.5 g/t Au over 1.4 metres whereas the upper zone intersected 3.5% Cu, 2.5% Zn, 61.0 g/t Ag and 0.3 g/t Au over 0.24 metres. The Company is extremely excited with these latest results, which has expanded the new high grade VMS zone discovered in March. A total of 12 holes have been drilled and all intersected the BL14 Cu-Zn-Ag-Au Zone over a 250 metre strike length since the original hole #7 was targeted from the airborne EM conductors in 2004. The mineralized zone has been intersected up to 100 metres vertical and ranges in width from 1.0 to 7.0 metres and remains open in all directions. Although the BL14 Zone contains very high grade values, it is still considered to be a VMS stringer zone to a potential massive sulphide body. Further drilling will help the Company vector into areas which may contain more massive sulphides. A summary table, section and plan will be posted on the website at www.metalcorp.ca. MetalCORP is presently carrying out additional down-hole and surface Crone Pulse EM surveys to support the aggressive drill program. The Big Lake program is being carried out under the supervision of Allan MacTavish, P.Geo. (QP -- NI43- 101). Core is split and sent to ALS Chemex Labs for analysis by ICP-AES. MetalCORP routinely introduces standards and blanks into the sample stream. MetalCORP Limited is a mineral exploration company based in Thunder Bay, Ontario with a focus on base metals in Northwestern Ontario. The Company is also active on its other recent discovery of Platinum and Copper at the North Rock project. The Company has 33,449,780 common shares outstanding and approximately $1,800,000 in cash and no debt. For further information contact: Mr. Aubrey Eveleigh, P.Geo, COO & VP Exploration, Tel (807) 346-2760 or Blackwell Investor Relations (416) 364-3123. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations. Total Gross Metal Value in US Dollars is the combined value of the metals (Cu, Zn, Ag, Au and Co) in the rock using the metal market prices on August 11, 2006. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release | |