TORONTO, ONTARIO--(Marketwired - June 5, 2014) - Metals Creek Resources (TSX VENTURE:MEK) has been advised by Xmet Inc. (TSX VENTURE:XME) of the following update on its pending work program on the Blackflake West (Feagan Lake) graphite project. The all-channel electromagnetic response target was discovered by Metals Creek close to the western boundary of Zenyatta's Albany graphite diatreme. Geotech, which flew the VTEM survey in March, 2014, concluded in its final report that the anomaly appears to be a steeply dipping conductor. This priority target contains the following interesting features:
1. An all-channel electromagnetic response;
2. A magnetic low in association to the EM response;
3. A strike length structure greater than one kilometre;
4. Similarity in conductive EM profiles and magnetic low intensity to Zenyatta's graphite diatreme pipes;
5. High-correlation EM response with that of a graphite source.
An electromagnetic all-channel response is a conductivity response of early, mid- and late channel profiles of a multidepth continuous conductor. This type of response is significant as it indicates that the anomalous source is close to surface and continues at depth.
Xmet plans additional follow-up work to better define the location and central core of the target. The groundwork permits and drilling permits from Ontario's Ministry of Northern Development and Mines are expected in the near future. Work can start when water levels recede from the spring melt and ground conditions permit. The sequence of events are as follows:
| |
1. Fly a new tightly spaced airborne magnetic and EM survey; |
| |
2. Ground reconnaissance work to determine direct path entry to target; |
| |
3. Ground geophysics in the form of magnetic and EM; |
| |
4. Drill test target. |
"We are pleased to see Xmet move forward on the Blackflake West (Feagan Lake) project and look forward to the follow up geophysical and drill program," stated Alexander Stares, President and CEO of Metals Creek Resources.
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 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, 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.