TORONTO, ONTARIO–(Marketwired – March 11, 2016) – Metals Creek Resources Corp. (TSX VENTURE:MEK) (the “Company”) is pleased to report that the Company is preparing to submit to its Joint Venture partner Goldcorp a revision to its drill program on the Ogden Gold Project in Timmins Ontario.
The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp’s 20 million oz Dome Mine and Lake Shore Gold’s West Timmins Mine. The Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. (“Goldcorp”) owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project.
In a News Release dated 04 March, 2016, The Company announced a step-out hole (OG16-040) that has demonstrated the presence of high grade gold mineralization west of the Thomas Ogden Zone (TOZ). Other than an historic hole on the same section as OG16-040, the Thomas Ogden West stratigraphy remains untested for an additional 1.5 kilometers west of TOZ. As a result of this discovery, management is in the process of revising the previously announced 3500 meter program (See news release dated December 8, 2015) to include additional holes in the Thomas Ogden West stratigraphy which remains untested for an additional 1 kilometer west of hole OG16-040 which includes a 500m untested Induced Polarization (IP) geophysical anomaly. The geophysical signature of this untested anomaly has similar characteristics to that of the Thomas Ogden Zone.
Drilling will resume in the Thomas Ogden West area once the revisions have been submitted and approved.
The Company also announces that it has granted 1,285,000 stock options to directors, officers, employees and consultants of the Corporation. All such options will have a term of three years at an exercise price of $0.11 per share, will be governed by the terms and conditions of the Corporation’s stock option plan and will be subject to vesting provisions.
Michael MacIsaac, P.Geo and VP Exploration 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, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d’Or, Quebec. The Company has also recently entered into a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland. Metals Creek has also made a new gold/silver discovery in the “White Gold District” on the Squid East project in the Yukon and is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. 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.