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TORONTO, ONTARIO--(Marketwire - Oct. 6, 2009)
- MetalCORP Limited (TSX VENTURE:MTC) is pleased to announce that
drilling has commenced at the Tarp Lake zone in the northern part of
its 100%-owned Pickle Lake property. The
program is located immediately to the east of an all-weather road and
is approximately 15 km north of the past-producing Pickle Crow Mine
near Pickle Lake, Ontario.
This drill program is planned to consist of six to seven drill holes
for a total of approximately 1,800 metres that will further test the
previously identified Tarp Lake zone which returned values of 7.2 g/t
Au over 4.6 metres and 1.4 g/t over 36 metres.
MetalCORP management is excited about this exploration target, as well
as a number of other exploration targets on its Pickle Lake property
which Metalcorp intends to continue to explore during the winter
exploration season. Further plans include approximately 1,700 metres of
drilling at the Jigger occurrence near the southern end of the property
where grab samples had previously returned gold grades of up to 19.5
and 95.6 g/t, as well as geophysical surveys (magnetometer and induced
polarization) across that end of the property which hosts a number of
gold occurrences, including the Triple X and Puffin zones.
The Pickle Lake program is being carried out under the supervision of
Charles Greig, P.Geo. (QP - NI 43-101). Core will be split and shipped
to ALS-Chemex Labs in Thunder Bay for analysis. MetalCORP routinely
introduces standards and blanks into the sample stream.
MetalCORP is a mineral exploration company based in Thunder Bay,
Ontario with gold and base metal projects in the Canadian Shield of
Northern Ontario, Canada, one of the most prolific mineral districts in
the world. MetalCORP's gold projects, with a combined area of more than
20,000 acres, include the Hemlo East (formerly Fearless), Dorset Joint
Venture, Pickle Lake, Black Bear and Keezhik Lake projects. MetalCORP's
base metal projects, with a combined area of more than 65,000 acres,
include the Big Lake copper-zinc-silver-gold and molybdenum-rhenium
property, the North Rock copper-nickel-platinum property, and the
eastern part of the Hemlo East nickel-copper-zinc-gold property
(formerly referred to as the Python project)
MetalCORP has 49,106,636 common shares outstanding and approximately
$1,400,000 in cash and no long-term debt. To find out more about
MetalCORP visit its website at www.metalcorp.ca.
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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