Business
Metals Creek Dusts Off Yellow Fox Antimony/Gold Project
Thunder Bay, Ontario--(Newsfile Corp. - September 30, 2024) - Metals Creek Resources Corp. (TSXV...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Dusts Off Yellow Fox Antimony/Gold ProjectThunder 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 re...