Business
Metals Creek Resources Partner, Sokoman Minerals to Initiate Deep Testing at Clarks Brook in Mid-August
Toronto, Ontario--(Newsfile Corp. - August 7, 2019) - Metals Creek Resources Corp. (TSXV: MEK)...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Resources Partner, Sokoman Minerals to Initiate Deep Testing at Clarks Brook in Mid-AugustToronto, Ontario--(Newsfile Corp. - August 7, 2019) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek) is pleased to announce that they have been advised by their option/joint venture partner, Sokoman Minerals Corp (TSXV: SIC) (Sokoman) that Sokoman intends to initiate the deep testing of the gold bearing structure at Clarks Brook which will begin on August 15th following the receipt of all necessary permits. Clarks Brook lies 35 kilometres southeast of the Company's Moosehead project in central Newfoundland and is road accessible. The minimum 1,200-metre program will test down to 400 metres vertically the mineralized zone defined by diamond drilling completed by Sokoman in late 2017 and early 2018. At that time, Sokoman completed approximately 1,000 metres of drilling in seven holes with all holes returning gold mineralization including CB-17-02 3.00 m @ 3.37 g/t Au incl. 0.25 m @ 26.90 g/t Au (core length); and CB-18-05 3.10 m @ 3.74 g/t Au incl. 0.60 m @ 14.73 g/t Au (core length). The Clarks Brook Property exhibits textures and mineralization consistent with an epithermal style of gold mineralization in a trend sub-parallel to the Moosehead-Valentine Lake Trend. Numerous historical gold showings that lie on trend from Clarks Brook have strong epithermal characteristics including jasperoid development, silica sinters and pathfinder elements such as antimony and arsenic. The producing Beaver Brook antimony mine lies 14 kilometres on trend to the southwest of Clarks Brook.The proposed program will consist of 3-4 strategically placed holes designed to test for deeper, higher-grade gold mineralization at what is commonly termed the boiling zone. The boiling zone can occur at depths ranging from 200-400 metres, sometimes deeper depending on specific deposit characteristics.To earn an initial 75% interest in the Clark's Brook project, Sokoman must make cash payments of $45,000 over three years and issue a total of 3,000,000 Sokoman common shares over three years and incur work expenditures of $800,000 over three years. Sokoman will be the operator during the earn-in period. Once a 75% interest is earned by Sokoman, either a 75/25 joint venture will be formed, or Sokoman may elect to earn an additional 25% interest to bring ...