Precious Metals

Metals Creek Resources Corp.   is pleased to announce that the company has been advised by Its Option partner, Quadro Resources Ltd    that a soil sampling and prospecting survey has been initiated on the Careless Cove property located southwest of Glenwood in east-central Newfoundland. Quadro acquired an option to earn a 100% interest in the claim licenses from Metals Creek Resources Corp. The terms of the ...

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that the company has been advised by Its Option partner, Quadro Resources Ltd (TSXV: QRO) (OTCQB: QDROF) (FSE: G4O2) ("Quadro" ) that a soil sampling and prospecting survey has been initiated on the Careless Cove property (the Property) located southwest of Glenwood in east-central Newfoundland. Quadro acquired an option to earn a 100% interest in the claim licenses from Metals Creek Resources Corp. (See MEK News Release dated August 10, 2020) The terms of the acquisition are outlined as follows:

  1. To acquire MEK's interest, QRO will issue to MEK a total $100,000 and 1,500,000 shares according to the following schedule:

    a) $15,000 and 300,000 on signing; (Paid)

    b) $20,000 and 300,000 shares on the first anniversary;

    c) $20,000 and 400,000 shares on the second anniversary; and

    d) $45,000 and 500,000 shares on the third anniversary
  1. Once QRO is vested at 100% by meeting all the payments above, MEK will retain a 2.0% Net Smelter Return (NSR) royalty on any future mineral production. QRO will have the right to purchase 50% of the NSR from MEK for $1,000,000.

The Property consists of two claim groups located 2 km apart. MEK initially staked the claim licenses to cover two areas of previously known gold occurrences described below.

The Property is located within the Central Newfoundland Gold Belt, eleven km southwest of New Found Gold's (NFG.V) Keats Zone where drilling is defining a very high-grade mineralized zone which includes recent intersections up to (see NFG press release dated April 20, 2021). Quadro's claim licenses are partially surrounded by NFG's Queensway Project and are immediately west of the south-southwest striking Appleton Fault Zone corridor, which hosts the Keats Zone mineralization. (Note - Mineralization hosted on the Queensway Project is not necessarily indicative or representative of the mineralization that may be hosted on the Company's property.)

Eastern Claim Block (Careless Cove) - Previous prospecting by MEK in 2020 located two areas of gold mineralization (see MEK news release dated July 30, 2020).Occurrence #1 is comprised of quartz breccia with disseminated and vein hosted pyrite/arsenopyrite with minor stibnite. Three samples taken from outcrop assays are as follows:

Sample Numberg/t Au
2361027.39
2361030.47
2361044.15

 

Follow-up prospecting located rubble (occurrence #2) approximately 50 meters away from occurrence #1 Two samples of this material had the following results.

Sample Numberg/t Au
3237637.37
32376411.83

 

Western Claim Block (Yellow Fox) - Initial prospecting was carried out by Metals Creek in 2011, resulting in a concentration of highly anomalous gold values with one sample returning an assay of 59.413 g/t Au (main Yellow Fox showing) (see MEK press release dated June 22, 2011). This led to an enhanced work program which included limited soil sampling and trenching. Trenching was completed across the mineralization and initial sampling consisted of 13 selective grab samples taken throughout the trenches with assay values ranging from 214 ppb to 1877 ppb Au and up to 11.1 % Sb, 5.5% Pb, 7 % Zn and 72.9 g/t Ag. The trenches were then channel sampled along their length using a diamond bladed rock saw. The best result from the channels were fromtrench #1 which assayed 0.306 g/t Au over 26.82m (a composite from 29 continuous samples) and 4.57% Sb over 1.0m. (see Newfoundland Geoscience Resource Atlas Geofile Number: 002D/0779). These results were very encouraging and indicated the potential for a more widespread gold system on the Yellow Fox claim group. No additional work has been carried out since 2011.

Alexander (Sandy) Stares states, "This option agreement is one of two option agreements (the other being the Clarkes Brook option with General Gold) that gives MEK and its shareholders exposure to the Central Newfoundland Gold Belt."

Wayne Reid, P. Geo, a Director for the Company and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

Analyses were performed by Eastern Analytical of Springdale, NL with ISO 17025 accreditation. Samples were transported in sealed bags to Eastern and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an AA finish.

(Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/943/82123_116ab49b24150b1c_002.jpg

Figure 1: Claims Location

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/943/82123_116ab49b24150b1c_002full.jpg

In addition to its portfolio of projects, Metals Creek also holds a position of equities in other companies such as O3 Mining (OIII), Sokoman Minerals (SIC), Quadro Resources (QRO), Anaconda Mining (ANX), Benton Resources (BEX), White Metal Resources (WHM), Trifecta Gold (TG), Manning Ventures (MANN), Magna Terra Minerals (MTT), General Gold (GGLD) as well as others.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration Corporation incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.

Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.

Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Alexander (Sandy) Stares, President and CEO

Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82123

News Provided by Newsfile via QuoteMedia

Metals Creek Resources

Metals Creek Resources

Overview

It’s been 125 years since George Carmack found himself in Yukon, Canada, after a failed attempt to capitalize on the reported gold strikes in Alaska. What started as a lucky discovery of a few gold nuggets in a creek bed ended up becoming one of the last great gold rushes in North America.

Gold mining in Canada occupies a rich and vital place in the country’s history. Mineralization of the precious metal exists throughout its landscape, including Ontario, Newfoundland and Labrador and Yukon Territory. Over the 70 years following Carmack’s discovery, Yukon would yield over C$250 million in gold. Even with that much already found, these historical discoveries are only scratching the surface.

Metals Creek Resources (TSXV:MEK) is a Canada-based mineral acquisition and development company focused on exploring future mining opportunities throughout Canada. The company is currently operating world-class properties in Ontario, Yukon Territory and Newfoundland and Labrador. The mining and investor-friendly jurisdictions and rich resource histories of these properties primes Metal Creek Resources for significant high-grade discovery and yield.

The company has two key projects in operation: its Dona Lake gold project and Ogden gold project in Ontario. Metal Creek’s flagship projects are well-positioned for advanced exploration in collaboration with strategic partners and joint venture agreements.

Metal Creek’s Ontario properties’ biggest attractions are their high grade drill results, location and history of past-producing high-grade gold exploration.

The company has the option to earn 100 percent interest in the Dona Lake gold project. Metals Creek CEO Alexander Stares mentioned projected drill program expansion for Dona Lake when discussing future exploration plans. “We’ll have lots of news coming up. Once we finish drilling, we’ll get everything back compiled into computers. We will go back in late summer and do another drill program.” The company’s current funds and exploration plans have primed it for fast-tracked advancement in the near future.

The Ogden property is hosted in the prolific Timmins gold camp and Pickle Lake area. Metals Creek currently has a 50/50 joint venture with Newmont Corp (TSX:NGT) in the Timmins Camp and strategic positioning as the project operator. A 2013 drilling campaign on the property uncovered 210.19 g/t gold over 12.5 meters.

Metal Creek’s management team combines years of experience in the mineral exploration, geology and financial sectors. The company’s diverse shareholder portfolio and strategic partnerships also position the company for exceptional acquisition opportunities, economic growth and expansive gold mining success.

Company Highlights

  • Metals Creek Resources is a junior exploration company focused on developing past-producing and world-class gold properties in Canada.
  • The company’s flagship projects include the Dona Lake and Thomas Ogden gold projects in Ontario. The company is also operating prospective properties in Newfoundland and Labrador.
  • Drill campaigns have found high grades of gold and silver
  • Metals Creek has created an option agreement with Newmont Corp for potential 100 percent ownership of the Dona Lake project. Additionally, the company has formed a 50/50 Joint Venture Agreement with Newmont for the Ogden gold project in the Timmins Camp.
  • Past-producing gold and mineralization histories prime the company for expansive development plans and potentially high-grade high yield as seen by neighboring projects.
  • Metals Creek intends on advancing drill campaigns to explore project targets and dive deeper into investor and growth opportunities its properties have to offer.

Key Projects

Dona Lake Gold Project

The Dona Lake Gold project is one of Metal Creek’s flagship gold properties, and it is located in the Pickle Lake area of Northern Ontario. The property hosts high-grade gold within its widespread banded iron formation structures and leverages favorable mining conditions.

This project is Metal Creek’s second option agreement with Newmont Corp. The company has the option to earn 100 percent ownership of the projects with the issuing of seven million shares and spending of C$4 million over three years.

The company has already completed a successful drill program for the project. This program’s results have confirmed gold mineralization outside of current mined areas and potentially deeper gold mineralization. Present grades have hovered as high as 8.37g/t gold in all three targets.

Past-producing history on the property indicates the production of 246,500 ounces of gold priced at US$375 an ounce before mine closures in 1994. Metals Creek expects to continue drilling campaigns into depths below current mine workings.

Ogden Gold Project

The Ogden gold property covers 8 kilometers of strike length on the Porcupine-Destor Break in Ogden Township, Ontario. Metals Creek Resources and Newmont have formed a 50/50 Joint Venture Agreement on the property, with Metal Creeks as the operator. The property has the potential to mimic successful gold production levels reaching 17 million ounces of gold as seen by its eastern neighbors.

Ogden hosts six mineralized gold zones and a historic non 43-101 compliant resource of one million tonnes at 4.12 g/t gold. A 2013 drilling campaign uncovered 210.19 g/t gold over 12.5 meters. In 2017, the company reported 4.39 g/t gold grades over 12.45 meters after drilling the target TOG-17-53 on the property.

Exciting discoveries of visible gold in the core have prompted additional investment interests and points to fold structure orientations that could correlate to high-grade gold mineralization. Metals Creek intends to expand drilling to explore this project’s potential further.

Management Team

Alexander Stares — President, CEO & Director

Alexander “Sandy” Stares comes from a family with a long line of prospectors. He has in excess of 25 years experience in mineral exploration, spanning a variety of Canadian geological terranes, from Newfoundland to Yukon. He has also completed several tours prospecting in Indonesia and Mexico. He was instrumental in the discovery of the H-Pond Gold Prospect and the Lost Pond Uranium Prospect. He also discovered numerous major mineral occurrences in Canada and abroad which have been the subject of extensive exploration programs. Sandy assumed the role of President and CEO of Metals Creek Resources Corp.in December of 2007. He is also a Director of Leocor Gold Inc White Metal Resources Corp and a Director of the Qalipu Development Corporation. In February 2013, Sandy was awarded the Queen Elizabeth II Diamond Jubilee Medal for his dedication to his Peers, Community, Canada and the Prospecting Community. He was also one of the recipients of the PDAC “Bill Dennis Prospector of the Year” Award in March 2007, which was awarded to members of the Stares/Keats family. Prior to his exploration career, Mr. Stares served in the Canadian Air Force for 15 years and was awarded the Deputy Commander in Chief of NORAD “Certificate of Achievement” Award for exceptional performance.

Michael MacIsaac P.Geo — VP Exploration

Michael MacIsaac brings to Metals Creek Resources over 33 years of exploration and management experience. He received his B.Sc from Lakehead University and has a Professional Geoscientist (P.Geo) designation from the Association of Professional Geoscientists of Ontario. MacIsaac’s vast experience entails both grassroots and advanced projects across Canada in gold, base metal and PGE environments. His expertise includes base metal exploration with Noranda Exploration in the Geco and Mattabi Mining Camps, gold exploration in the prolific Hemlo and Red lake Gold Camps and PGE exploration for North American Palladium in Northern Finland and Northwestern Ontario.

MacIsaac’s vast background in different metallogenic terranes and exploration techniques will help this young company poised for growth attain its strategic objectives through quality acquisitions and sound exploration.

Wayne Reid P.Geo — VP Corporate Development & Director

Wayne Reid has over 35 years of experience in exploration and mining geology, spanning various Canadian geological terranes, from Newfoundland to Northern BC and Alaska. Reid was instrumental in discovering the Brewery Creek Gold Deposit in the Yukon Territory and the Boundary Massive Sulphide Deposit / Duck Pond Mine in Central Newfoundland. His experience includes gold, base metal and uranium exploration in most geological environments in North America. Reid has over 20 years with the Noranda / Hemlo group in district and regional manager capacity in several areas across Canada. He has over 10 years of experience in the Timmins camp with as a Canadian manager with Echo Bay Mines, and as an exploration manager with St. Andrew Goldfields. Most recently, he was vice president of Exploration for Ucore Uranium.

Nikolaos S. Tsimidis — CFO & Director

Nikolaos S. Tsimidis is an entrepreneur and a specialist in the financial aspects of real estate investments. He graduated with a Bachelor of Commerce from the University of Toronto in 1987. Upon graduation, he spent six years at KPMG in the audit department, providing various client services. In September 1993, Tsimidis left KPMG to set up his own chartered accounting firm, focusing on tax and financial planning. He is the CFO and the principal broker for Union Capital Management Inc and Haven Property Development Inc. Tsimidis has also been intimately involved with mortgage origination and real estate development projects. He is the CFO and a director of Bold Stroke Ventures.

Michael Stares — Director

Michael Stares has been a successful entrepreneur with 50 percent ownership in Stares Contracting Corp., and he is president and CEO of White Metal Resources. Stares’ background comes from over 30 years of prospecting, eight years for Noranda Exploration, having a fantastic track record for new discoveries. Alongside the Stares-Keats family of prospectors, Stares was the honored recipient of the Bill Dennis Prospector of the Year Award at the 2007 PDAC Conference. He currently serves as a Benton Resources Corp director.

Pat Mohan — Director

Pat Mohan is president and CEO of the Mohan Group. Mohan has worked in the marketing, advertising and promotions field for over 20 years. In 1986, he founded The Mohan Group. He has been the driving force behind its growth from a fledgling firm to one of Canada’s fastest-growing and best-respected advertising and marketing companies. Mohan is also a director with Trelawney Mining and Exploration Inc.

Malvin Spooner — Director

Malvin Spooner was the founder, president, CEO and director of Mavrix Fund Management Inc., an award-winning investment management company with mutual and other funds distributed across Canada until acquired in 2009. He has been a portfolio manager for over 25 years in the Canadian financial services industry. He introduced and was responsible for a successful series of tax-advantaged limited partnerships in more recent years, which invested over half a billion dollars in junior mining exploration companies. Spooner has appeared frequently on television and in print media as an investment expert over his entire career and is a widely respected professional.

Lorne Woods — Director

Lorne Woods graduated from Concordia University in 1986 with a BA, majoring in Political Science. He served as a chair, board member, and director for Concordia University Alumni Association. He co-founded Judson Woods back in 1987 with a partner to work with a large group of small mining companies. The company’s principal business started with creating and producing advertising to assist in marketing clients to the investment community. It also specialized in investor relations, promoting its clients’ assets and projects to the financial media and investing public.

Green River Gold Corp. Commences 2022 Exploration Drilling Program

Green River Gold Corp. Commences 2022 Exploration Drilling Program

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that the 2022 exploration drilling program has started at its Quesnel NickelMagnesium project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

The first phase of the 2022 exploration drilling program will consist of 3 drill holes, approximately 100 meters each, using a portable Winkie drill purchased by the Company late in 2021. The drill sites are being accessed from a major logging road, travelling by snowmobile for the last 3km.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Jazz Resources Increases Size of Non-Brokered Offering

Jazz Resources Increases Size of Non-Brokered Offering

(TheNewswire)

Vancouver, British Columbia, Canada TheNewswire May 10, 2022 Jazz Resources Inc. (the " Company " or " JZR ") (TSXV:JZR) is pleased to announce that, due to significant demand, it has increased its previously announced private placement financing by an additional $700,000 to $1,700,000.  Pursuant to the increased offering, the Company is offering, on a non-brokered private placement basis, up to 2,125,000 units (each, a " Unit ") at a price of $0.80 per Unit, to raise aggregate gross proceeds of up to $1,700,000.  Each Unit will be comprised of one common share (each, a " Share ") and one common share purchase warrant (each, a " Warrant ").  Each Warrant will entitle the holder to acquire one additional common share (each, a " Warrant Share ") of the Company at an exercise price of $1.20 per Warrant Share for a period of 12 months after the closing of the Offering.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Platinex Announces Acquisition of Titanium-Vanadium Claims Adjacent to W2 Cu-Ni-PGE Project and Receipt of Government Grant for Shining Tree Gold Project

Platinex Announces Acquisition of Titanium-Vanadium Claims Adjacent to W2 Cu-Ni-PGE Project and Receipt of Government Grant for Shining Tree Gold Project

Platinex Inc. (CSE: PTX) (Frankfurt 9PX) ("Platinex" or the "Company") is pleased to announce that its wholly-owned subsidiary, Endurance Elements Inc. ("Endurance Elements"), has acquired additional mining claims adjacent to the W2 Copper-Nickel-PGE Project (the "W2 Project" or "W2") in the Ring of Fire in Ontario, Canada. The new claims combined with the existing claims cover an 8-10 km long, northeast-trending magnetic high (the "Bartman Lake North Magnetic High" or "BNMH") and include the area of a Titanium-Vanadium (Ti-V) discovery made by Aurora Platinum Corporation in 2001. See image.

The discovery drill hole LH01-10 bored in the BNMH intersected multiple intercepts of disseminated to massive titano-magnetite mineralization hosted within diorite-leucogabbro-anorthosite-gabbro-magnetite cumulate sequences. The three intercepts of semi-massive to massive titano-magnetite mineralization returned near economic grades of vanadium and titanium oxides (Mazur and Osmani 2002):

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gold Bull Resources

Gold Bull drilling defines eastern extension at North Hill and extends Abel Knoll mineralization outside Mineral Resource Estimate

Gold Bull Resources Corp. (TSX-V: GBRC) (" Gold Bull " or the " Company ") is pleased to report that drilling intercepts at the North Hill deposit have confirmed the continuity of an internal high-grade zone and extended the known shallow mineralization to the east, and hole SA-0049 at Abel Knoll has confirmed continuity of an eastern extension to the Mineral Resource Estimate.

Highlights & Update:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Moneta Gold: Invitation to VRIC Booth 216

Moneta Gold: Invitation to VRIC Booth 216

Moneta Gold (TSX: ME) would like to cordially invite you to visit us at Booth #216 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

Former Prime Minister of Canada, Stephen Harper and Former President of Mexico, Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Graycliff Exploration Invites Shareholders and Investment Community to Visit Us at Booth 301 at the VRIC in Vancouver, May 17-18, 2022

Graycliff Exploration Invites Shareholders and Investment Community to Visit Us at Booth 301 at the VRIC in Vancouver, May 17-18, 2022

Graycliff Exploration Limited (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) (the "Company" or "Graycliff") would like to cordially invite you to visit us at Booth #301 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday, May 17 - Wednesday, May 18, 2022.

Graycliff's CEO, James Macintosh and Director, Nicholas Konkin would be there to answer any of the questions related to Company's Shakespeare and Baldwin Gold Projects near Sudbury, Ontario.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×