Metals Creek Started drilling next door last week.
Metals Creek moves drill rig to Ogden
2016-09-20 09:02 ET - News Release
Mr. Alexander Stares reports
METALS CREEK RESOURCES CORP. MOBILIZES DIAMOND DRILL RIG TO THE OGDEN GOLD PROJECT TIMMINS, ONTARIO
Metals Creek Resources Corp. has mobilized a diamond drill rig to the Ogden gold project in Timmins, Ont., and drilling is expected to start within two days.
The Ogden claims cover eight kilometres of strike length of the Porcupine-Destor fault between Goldcorp's 16.5-million-ounce Dome mine and Tahoe Resources' West Timmins mine. The property is held under a joint venture in which Metals Creek owns 50 per cent, and Goldcorp Canada Ltd. owns 50 per cent (as manager and on behalf of the Porcupine joint venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with Metals Creek being the operator of the project.
This round of drilling will comprise approximately 2,000 metres focused primarily on the Thomas Ogden zone where drilling in 2012 intercepted 49.96 grams per tonne (g/t) gold over nine metres, including 434.77 g/t over one m (see the company's news release dated April 10, 2012), and drilling in 2013 had intercepted 210.19 g/t gold over 12.53 m, including 2,732.6 g/t gold over 0.93 m (see the company's news release dated May 22, 2013). Results from this drilling will be released when received and data are compiled.
Metals Creek has been accepted to participate in the junior exploration assistance program (JEAP) grant of up to 33.3 per cent of approved exploration expenses up to a maximum of $100,000 on the Ogden project. The company would like to thank the Northern Ontario Heritage Fund and the Ontario Prospectors Association for the opportunity to participate in this program.
Metals Creek also announces that the company has granted 1,175,000 stock options to directors, officers, employees and consultants of the corporation. All such options will have a term of five years at an exercise price of 10 cents per share, and will be governed by the terms and conditions of the corporation's stock option plan and will be subject to vesting provisions.
Michael MacIsaac, PGeo, vice-president, 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
Metals Creek Resources owns a 50-per-cent interest in the Ogden gold property, including the former Naybob gold mine, located six kilometres south of Timmins, Ont., and has an eight km strike length of the prolific Porcupine-Destor fault (P-DF) that stretches between Timmins, Ont., and Val d'Or, Que. Metals Creek has also made a new gold/silver discovery in the White Gold district on the Squid East project in the Yukon. The company has also entered into a joint venture with Benton Resources on Metals Creek's Staghorn gold project in Newfoundland and is engaged in the identification, acquisition, exploration and development of other mineral resource properties.
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