Business
Metals Creek Acquires Additional Prospective Property in The Shebandowan Greenstone Belt near Delta Resources
Thunder Bay, Ontario--(Newsfile Corp. - March 28, 2023) - Metals Creek Resources Corp.  ( T...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Acquires Additional Prospective Property in The Shebandowan Greenstone Belt near Delta ResourcesThunder Bay, Ontario--(Newsfile Corp. - March 28, 2023) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the \"Company\" or Metals Creek) is pleased to announce that the Company has acquired an additional 8 claim units thru an option agreement within the Thunder Bay Mining District.The property is located within the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario, near Shabaqua Corners and on trend to Delta Resources Delta 1 project. The property has seen very little exploration work.Surface grab samples taken by the vendors range from nil to 54.51 grammes per tonne (g/t) Gold (Au) with Visible Gold (VG) present. The project is underlain by mafic volcanics with interbedded sediments. Gold mineralization is hosted within an east-west trending zone of pervasive carbonate alteration with associated quartz carbonate veins and pyrite. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property. Assay results from the Property in this news release are historical in nature and have not been verified by the Company.)The eastern boundary of the property is located 1.57 kilometers(km) west of Delta Resources (DLTA) drill hole DL-22-18 which returned an intercept of 5.92 g/t Au over 31m (Source: Delta New Release October 31, 2022). Trenching conducted on Delta's ground 390m east of the property boundary, returned an interval of 2.22 g/t Au over 8m (Source: Delta Resources Website). Under the terms of the agreement, Metals Creek will issue 750,000 shares of the Company, (150,000 upon exchange approval), Pay $65,000 ($10,000 upon exchange approval) and incur work expenditures of $200,000 over three years. Upon meeting these requirements, MEK will have earned a 100% ownership of the property subject to a two (2) percent NSR, one half (1%) may be purchased by Metals Creek at any time for $1,000,000. This agreement is subject to TSX-V approval.Alexander (Sandy) Stares, President and CEO of Metals Creek, states, \"While our primary focus remains in the Timmins Area, the Shabaqua Gold Project provides MEK with a strategic, highly prospective land position on strike from Delta's Eureka Zone with similar style min...