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Metals Creek Resources Corp. Signs LOI for Clarks Brook Gold Property, Central Newfoundland
Toronto, Ontario--(Newsfile Corp. - February 13, 2020) - Metals Creek Resources Corp. (TSXV: M...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Resources Corp. Signs LOI for Clarks Brook Gold Property, Central NewfoundlandToronto, Ontario--(Newsfile Corp. - February 13, 2020) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek) is pleased to announce that they have signed a Letter of Intent (LOI) outlining terms whereby Deep Blue Trading Inc. (DBT) (a private company owned by an arm's length third party) can earn a 100% interest in the Clarks Brook Gold Property, located in central Newfoundland.The Clarks Brook property is located approximately 25 kilometers south west of the recently announced 19 metres of 92.86 g/t gold in a drill hole by New Found Gold (see Mexican Gold Corp news release dated January 26, 2020) See Table Below for Previous Drill Intercepts at Clarks Brook:HoleFromToLengthAu g/tCB‐17‐0199.2099.500.305.583and100.85102.401.552.372CB‐17‐02127.75130.753.003.369incl127.75128.000.2526.878CB‐17‐0333.4034.150.751.252and51.4051.900.503.364CB‐17‐04107.35108.050.701.546and117.00118.551.552.339CB‐18‐05113.20116.303.103.744incl113.20113.800.6014.735and125.75126.500.751.113CB‐18‐0685.0085.500.501.36and106.60123.1016.500.942incl106.60110.904.302.453CB‐18‐0797.1597.650.501.936and118.25120.652.401.354and161.35162.651.300.77CB‐19‐0833.0033.600.603.319and46.6553.306.651.186and63.8089.6025.801.004incl73.6080.006.402.04585.8088.803.002.263and110.05110.450.401.946and142.00145.003.002.614and435.50437.401.901.512and441.80442.550.752.326and446.80447.400.603.312and491.95493.001.051.03CB‐19‐09151.70156.004.300.396and176.35176.750.401.397and254.45257.352.900.299CB‐19‐10209.25210.651.400.529and254.15257.653.500.343and318.45319.400.950.564To earn a 100% interest in the Clarks Brook property, DBT must make cash payments of $195,000 over three years ($20,000 on signing) and issue a total of *1,500,000 common shares over three years (*200,000 due when the company is announced). Metals Creek will retain a 2% NSR, one half (1%) which can be purchased by DBT for $1,000,000. DBT must also complete a 43-101 report on the property by the first anniversary.(* The common shares will be issued from a publicly trading company.) About Metals Creek Resources Corp.Metals Creek Resources Corp. is a junior exploration company incorporated unde...