Thunder Bay, Ontario–(Newsfile Corp. – January 17, 2022) – Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the “Company” or Metals Creek) announces that Manning Ventures have terminated its option to earn an interest in Metals Creeks Squid East project in the Yukon. Metals Creek now retains a 100% ownership in the property.
Metals Creek remains focused on the Dona Lake and Ogden projects and as such the Squid East project is available for option.
MEK initially staked the Squid East Property in February, 2011, during the staking rush that ensued after the discovery of the White Gold deposit. The claims are located proximal to the Matson Creek placer gold operations, approximately 80 km northwest of the Goldcorp’s Coffee Project and 90 km southwest of Dawson City. Soil sampling, trenching and limited diamond drilling carried out in 2013 resulted in the discovery of a new gold-silver zone with characteristics similar to other discoveries in the White Gold district. Results included 22.0 meters (m) of 1.96 grams per ton (g/t) gold (Au) and 160.6 g/t Silver (Ag) from trenching and 1.55 g/t Au and 114.1 g/t Ag over 21.0 m from the subsequent drilling (see MEK press releases dated August 6, 2013 and October 8, 2013).
Additional drilling was carried out by Trifecta Gold in 2017 totaling 546.5 m in five holes. This drilling yielded elevated gold and silver assays to a maximum of 2.1 g/t gold and 325 g/t silver over 1.19 metres. (See Trifecta Golds news release dated November 13, 2017).
While Trifecta’s drill program did not replicate the Metals Creek intersection, the mineralized horizons were intersected where anticipated, and the target remains open down-dip and along strike in both directions.
Wayne Reid, 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.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company 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, including the past producing 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, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Additional information concerning the Company is contained in documents filed by the Company 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110418