Thunder Bay, Ontario--(Newsfile Corp. - September 30, 2024) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek), announces the Company has begun a re-evaluation of the Yellow Fox Antimony/Gold project located in the central Newfoundland Gold belt and 26.5 kilometers northeast of the Beaver Brook Antimony mine. Antimony prices have seen a significant increase over the last month with speculation of a potential supply shortage.
China recently has indicated it will place export restrictions commencing September 15 on antimony related products. With China accounting for 48% of global production, these supply restrictions will necessitate alternate sources of antimony especially for the United States who is one of the largest end users. The defense industry is one of the largest end users for antimony as well as the electronics industry.
Initial prospecting on the Yellow Fox property by Metals Creek personnel in 2011 resulted in a concentration of highly anomalous gold values with a single sample returning 59.41grams per tonne (g/t) Au from the main Yellow Fox Showing. Soil sampling and mechanical trenching was completed across the mineralization with 13 selective grab samples collected. Values ranging from 0.214g/t to 1.877g/t gold and up to 11.1% Antimony (Sb), 5.5% Lead (Pb), 7% Zinc (Zn) and 72.9g/t Silver (Ag) were returned. Subsequent channel sampling was carried out. The best results from channel sampling were 0.306g/t Au over 26.82m within 29 continuous samples and 4.57% Sb over 1m. Mineralization consists of pyrite, arsenopyrite, stibnite, sphalerite and galena and is hosted within a muscovite altered monzogranite along north-northeast trending structures. Structural zones show strong carbonate alteration with sulphide bearing stringers to veins of stibnite and arsenopyrite. Mineralization at Yellow Fox exhibits similar traits to that of the past producing Beaver Book Antimony Mine with the presence of Gold, silver, galena, sphalerite, stibnite and arsenopyrite. Of particular note is the highly anomalous gold values associated with the stibnite mineralization which further adds to the exploration potential with gold prices increasing over the last several months. Beaver Brook currently has a resource of 533,370 tonnes @ 4.17% Sb remaining at East Zone based on latest literature (Source: Mineral Occurrence Database/NFLD Gov't/National Inventory Number (002D111/Sb 003/Record Number 4417/2013).
The surface grab samples mentioned in this news release are selective by nature and are unlikely to represent average grades on the property.
Yellow Fox has not seen any drilling to date.
Figure 1: Property location map for Yellow Fox, Clarks Brook and Careless Cove
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/225011_311e5e8ae405b80d_002full.jpg
Figure 2. Photo of stibnite mineralization from yellow fox
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/225011_311e5e8ae405b80d_003full.jpg
Figure 3: Photo of Yellow fox showing in outcrop
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/225011_311e5e8ae405b80d_004full.jpg
CLARKS BROOK GOLD PROJECT
The Clark's Brook Property is located in central Newfoundland, 25 km west of Glenwood and was originally staked in 2016 to cover two untested gold showings. Limited drill testing subsequent to the property acquisition had significant results up to 1.004 g/t Au over 25.8 m and 26.878 g/t Au over 0.25m. The 100% owned property consists of 31 claim units (7.7 sq. km), surrounded by New Found Gold's Queensway Project.
Previous drilling tested the Clark's Brook East zone in ten holes. (see MEK press release dated 23 August 2017) Results include numerous gold intersections as tabulated below:
| Hole |
|
From |
|
To |
|
Length |
|
Au g/t |
| CB-17-01 |
|
99.2 |
|
99.5 |
|
0.3 |
|
5.583 |
| and |
|
100.85 |
|
102.4 |
|
1.55 |
|
2.372 |
| CB-17-02 |
|
127.75 |
|
130.75 |
|
3 |
|
3.369 |
| incl |
|
127.75 |
|
128 |
|
0.25 |
|
26.878 |
| CB-17-03 |
|
33.4 |
|
34.15 |
|
0.75 |
|
1.252 |
| and |
|
51.4 |
|
51.9 |
|
0.5 |
|
3.364 |
| CB-17-04 |
|
107.35 |
|
108.05 |
|
0.7 |
|
1.546 |
| and |
|
117 |
|
118.55 |
|
1.55 |
|
2.339 |
| CB-18-05 |
|
113.2 |
|
116.3 |
|
3.1 |
|
3.744 |
| incl |
|
113.2 |
|
113.8 |
|
0.6 |
|
14.735 |
| and |
|
125.75 |
|
126.5 |
|
0.75 |
|
1.113 |
| CB-18-06 |
|
85 |
|
85.5 |
|
0.5 |
|
1.36 |
| and |
|
106.6 |
|
123.1 |
|
16.5 |
|
0.942 |
| incl |
|
106.6 |
|
110.9 |
|
4.3 |
|
2.453 |
| CB-18-07 |
|
97.15 |
|
97.65 |
|
0.5 |
|
1.936 |
| and |
|
118.25 |
|
120.65 |
|
2.4 |
|
1.354 |
| and |
|
161.35 |
|
162.65 |
|
1.3 |
|
0.77 |
| CB-19-08 |
|
33 |
|
33.6 |
|
0.6 |
|
3.319 |
| and |
|
46.65 |
|
53.3 |
|
6.65 |
|
1.186 |
| and |
|
63.8 |
|
89.6 |
|
25.8 |
|
1.004 |
| incl |
|
73.6 |
|
80 |
|
6.4 |
|
2.045 |
| and |
|
85.8 |
|
88.8 |
|
3 |
|
2.263 |
| and |
|
110.05 |
|
110.45 |
|
0.4 |
|
1.946 |
| and |
|
142 |
|
145 |
|
3 |
|
2.614 |
| and |
|
435.5 |
|
437.4 |
|
1.9 |
|
1.512 |
Note- Drill results, as reported by Sokomon, are drill widths only, as the information is not adequate to calculate true widths. Analysis techniques are described in the previously quoted press release.
In October 2022, MEK conducted a small prospecting program on Clark's Brooke West which returned assays up to 10 grammes per tonne (g/t) Gold (Au) (See MEK News Release October 27, 2022). Clark's Brook West Zone has not been drill tested to date.
CARELESS COVE GOLD PROJECT
Prospecting by MEK (2020) on the Careless Cove block uncovered mineralization composed of quartz breccia with disseminated and vein hosted pyrite/arsenopyrite with minor stibnite. Grab sample results of 7.39g/t, 0.47g/t and 4.15g/t Au were attained. Follow-up prospecting located rubble approximately 50m away from the initial outcrop returning assays of 7.37g/t and 11.83g/t Au.
Of particular note should be the presence of stibnite which is along the same general trend to that of the Beaver Brook Mine. No assaying has been performed for Antimony on careless cove.
The Careless Cove and Clarks Brook project are available for option.
N. Wayne Reid, P.Geo and Director 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 from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek owns and/or has option agreements in place to acquire a 100% interest in claims in the Shabaqua Corners area of North western Ontario.
Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225011
