Aug 1 2016
Metals Creek Resources Corp. 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.
Source: http://www.metalscreek.com/