(via Thenewswire.ca)
Toronto, Ontario. 19 August, 2013. Metals Creek Resources Corp. (TSXV: "MEK") is pleased to announce the commencement of a drill program on the newly discovered Exploits Zone at the Squid East project in the Matson Creek area in the Yukon. This initial drilling will focus on the recently reported chip sampling which returned 1.96 grammes per tonne (g/t) gold over the entire 22.0 meter (m) trench length. Included in this is a higher grade interval of 6.39 g/t gold over 4.0 m. (see news release dated 6 August 2013).
A 400 m drill program is initially planned to better define the orientation and size of the Exploits gold zone. The Matson Creek placer camp and airstrip will be used as a staging point and a recently completed access trail will be used to service the drill. In addition to diamond drilling, an attempt will be made to further expose bedrock by mechanical trenching in areas where bedrock could not be exposed due to frost conditions in early July.
"We are extremely excited to initiate drill testing of this exciting target in the White Gold District. This program will give us a better understanding of the geometry and mineralization of this newly discovered Exploits Zone. In addition, the existing infrastructure will help ensure that exploration is carried out in a cost effective manner." states Alexander (Sandy) Stares, President and CEO of Metals Creek.
GTA can earn an initial 51% interest in the Squid East property as previously announced in a press release dated 12 January 2013. Terms include cash payments of $60,000 over three years ($20,000 on signing), issuance of a total of 2,000,000 GTA shares over three years (200,000 on signing) and work expenditures of $2,000,000 over three years ($500,000 firm including a minimum 400 meters of drilling by the 1st anniversary). Metals Creek will be the operator during the earn-in period. Once a 51% interest is earned by GTA, either a 51/49 joint venture will be formed, or GTA may elect to increase its interest to 70% by incurring additional payments of $210,000 and 400,000 GTA shares and expenditures of $1,000,000 by the 5th anniversary. GTA would assume operatorship once it had earned a 51% interest.
MEK initially staked the Yukon properties in February, 2011 and has a 100% interest in four separate claim blocks (242 claims) within the White Gold District. The Squid East claims are located proximal to the Matson Creek placer gold operations, approximately 90km southwest of Dawson City. A four wheel drive access road and airstrip service the placer camp and MEK's current field work availed of the placer camp airstrip, accommodations and equipment to help carry out the program. A six km access trail was completed from the Matson Creek four wheel drive road to the target area making access more cost effective.
Michael MacIsaac, P. Geo, VP Exploration for the Corporation 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 well funded 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 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.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709) 256-6060
fax: (709) 256-6061
email: astares@metalscreek.com
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