Metals Creek Resources has staked 100 claim units at the Yellow Fox property in the Mount Peyton Intrusive suite in east-central Newfoundland. The location of the property is in west of the Glenwood town, and mining infrastructure in the region contains the Beaver Brook Antimony Mine that is situated around 24 km to the southwest.
The property can be accessed by an all-weather gravel road, which widens 10 km from the Trans Canada Highway at Glenwood to the property. The company executed a preliminary prospecting program following the staking of the property and intersected up to 59.4 g/t gold at the Yellow Fox property. The gold values of the 11 surface grab samples range from 26 ppb to 59,413 ppb gold. Metals Creek has returned results up to 15.3 g/t silver, 0.35% Antimony and 0.49% lead from a nearby derived outcrop and glacial float samples. Mineralization occurs in a silica, hematite and sericite altered granite grading with 2-5% distributed pyrite-arsenopyrite. The company will conduct phase I exploration, which includes geophysical surveying, soil geochemistry, prospecting and mechanical trenching to additionally assess this recently explored mineralization.
The CEO and President of the company, has stated that the phase I prospecting program has yielded positive results. These gold assay results show a new chance to appraise the Mount Peyton Intrusive Suite for potential gold deposits.
Source: http://www.metalscreek.com/