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Metals Creek Resources Completes Due Diligence Visit on 10 Patented Mining Claims in Garrison Township
Toronto, Ontario--(Newsfile Corp. - June 20, 2018) - Metals Creek Resources Corp. (TSXV: MEK) ...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Resources Completes Due Diligence Visit on 10 Patented Mining Claims in Garrison TownshipMetals Creek also Announces $200,000 Private PlacementToronto, Ontario--(Newsfile Corp. - June 20, 2018) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek or the company) is pleased to announce that the company has completed a due diligence visit to the 10 Patented mining claims (The Patents) in Garrison Township, approximately 35 kms north-northeast of Kirkland Lake, Ontario. The patents are contiguous with Osisko Mining to the west, south and east and contiguous with Kirkland Lake Gold to the north. (See Map on the company's website). During the due diligence, representatives of the company collected 16 selective rock grab samples that were submitted for gold analysis. Assay results range from 7 parts per billion (ppb) gold up to 6280 ppb gold, with 62.5% of the samples returning in excess of 1 g/t (gram per tonne) gold. (see chart below). Mineralization was traced for 307m, consisting of 1-15% disseminated pyrite with local galena and chalcopyrite. The host rock is strongly albitized mafic volcanics with associated quartz veining and stockwork.Sample Number Gold in ppb GAR18-01 4600GAR18-02 2650GAR18-03 1520GAR18-04 2900GAR18-05 6280GAR18-06 7GAR18-07 421GAR18-08 2280GAR18-09 190GAR18-10 918GAR18-11 798GAR18-12 1190GAR18-13 3500GAR18-14 505GAR18-15 4690GAR18-16 3830 Metals Creek can earn a 100% interest in the patents by making cash payments totaling $310,000 over a period of 4 years following the execution of the LOI. The vendors will retain a 2% NSR which the Company can purchase 1% for $1 million. This agreement is subject to a 30 day due diligence period by the company.Alexander (Sandy) Stares states, \"The due diligence visit clearly confirms gold mineralization on the Garrison patents. Metals Creek is actively planning a grid for the purpose of conducting a ground geophysical survey over the area and followed by detailed mapping and prospecting with the intention of prioritizing targets for diamond drilling.\"The surface grab samples mentioned in this release are selective by nature and are unlikely to represent average grades of the property.In conjunction with the work program planned for the Garrison Property, the company announces a private placement to cover costs associated with the planned work. The c...