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tekinvestoron Nov 05, 2014 10:48am
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Metals Creek (MEK.V) Announces Completion of IP Survey Nov 5
Metals Creek (MEK.V) Announces Completion of IP Survey Nov 5
Metals Creek Resources Announces Completion of the Induced Polarization (IP) Survey on Blackflake West
Toronto, Ontario, November 05 2014 - Metals Creek Resources (TSX-V:MEK) (the “Company”) has been advised by its’ option joint venture partner Xmet Inc. (“Xmet”) (TSXV-XME) the completion of its induced polarization (IP) and resistivity ground survey. This is the final stage of the ground geophysical program enabling moving towards designing the drill program for Blackflake West.
The IP survey has provided additional information with regards to the Blackflake West All Channel response further confirming the conductivity of the EM All-Channel responses. These results will help in determining the optimal orientation in which to drill this highly conductive and chargeable near surface bedrock anomaly.
Metals Creek initially discovered the All-Channel response, referred to in our news release of March 26th, 2014, which was originally flown using the VTEM plus time domain system. A second more detailed VTEM survey was flown over the original All Channel response to help further define the size and orientation of this conductive response, resulting in a group of all channel conductive responses just to the northeast of the original anomaly. (See MEK news release September 29th, 2014.)
Xmet Inc. has the option to earn a 50% interest (see news release May 22, 2014) in the Blackflake West (Feagan Lake) Graphite Project by paying an aggregate of $20,000 plus issue up to 3,000,000 common shares and incur exploration expenditures in the amount of $885,000 within a three year period. In order to earn the additional 10% interest, Xmet must pay $100,000 plus issue 1,500,000 common shares within 90 days of earning 50% and incur exploration expenditures of $1,000,000 in year four.
Michael MacIsaac, P. Geo, VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for the preparation of 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 Corporation also has an Option/Joint venture agreement with Xmet Inc. on the Blackflake West, (Feagan Lake) graphite property, west of Zenyatta Resources. Metals Creek has also recently 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.
On Behalf Of the Board of Directors
Metals Creek Resources Corp.
Alexander Stares, President and CEO
Telephone: (709)-256-6060
Fax: (709)-256-6061
Email: astares@metalscreek.com
MetalsCreek.com
Twitter.com/MetalsCreekRes