TORONTO, ONTARIO--(Marketwired - July 29, 2016) - Metals Creek Resources Corp. (TSX VENTURE:MEK) is pleased to announce that the company has acquired by staking a 100% interest in units (the Clarks Brook prospect) in central Newfoundland.
The prospect was staked after a review of past work completed on the property and initial due diligence performed on the showing.
The following is an excerpt from Altius Minerals Corporation Assessment report (Government of Newfoundland File number 002D_0763)
"The Clark's Brook Showing comprises large angular blocks that strongly resemble underlying, but less strongly mineralized bedrock. The mineralization consists of thin, commonly vuggy quartz (Qtz) veins and thin breccia veins with a quartz matrix, cutting an altered siltstone. The veins contain trace to minor pyrite and constitute a reticulating network of veins. The mineralized boulders contain 15 - 25% vein material, with moderate to strong silicification of the intervening siltstone. One breccia vein was noted to contain several tiny specks of visible gold. A relevant feature of this mineralization is that it is typically uniform throughout the boulders and representative samples all contain significant gold (minimum assay of 2.98 grammes per tonne (g/t), maximum assay of 24.5 g/t and an average assay of 7.93 g/t gold)."
The assays quoted above are historic in nature, have not been validated and should not be relied upon.
Recent sampling by Metals Creek of the mineralization discovered in outcrop returned an assay of 19.24 g/t gold. In addition, thirteen (13) of the large angular blocks were sampled and yielded assays ranging from 0.24 g/t to 10.4 g/t gold. In 2009 Altius completed an induced Polarization (IP) and Magnetics survey that outlined targets but no drilling has been done on the geophysics targets or the gold mineralization.
The surface grab samples mentioned in this news release are selective by nature and are unlikely to represent average grades of the property.
Metals Creek is actively seeking a joint venture partner for this project.
Metals Creek also announces that The Company has granted 875,000 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 $0.12 per share, will be governed by the terms and conditions of the Corporation's stock option plan and will be subject to vesting provisions.
Wayne Reid (PGeo) is a director of the company and is responsible for the preparation of this News 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. 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