| December 11, 2014: Metals Creek Resources /Xmet Engages Asinii Drilling ... | |
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Metals Creek Resources /Xmet Engages Asinii Drilling to Drill Blackflake West Project
Metals Creek Resources /Xmet Engages Asinii Drilling to Drill Blackflake West Project
Toronto, Ontario, 11 December 2014 - Metals Creek Resources (TSX-V:MEK) has been advised by its' option joint venture partner Xmet Inc. ("Xmet" or the "Company") (TSXV-XME) that, Xmet has entered into a contract with Asinii Drilling Inc. to start drilling on its Blackflake West Project.
The drill program will focus on the projects All Channel electromagnetic response target which was followed up on with the ground induced polarization survey as announced in November 5th, 2014 news release. Xmet expects this initial phase of the drill program to total approximately 1500 metres of Diamond drilling.
Xmet Inc. has the option to earn a 50% interest (see news release May 22, 2014) in the Blackflake West (FeaganLake) Graphite Project by paying an aggregate of $20,000 plus issue up to 3,000,000 common shares and incur exploration expenditures in the amount of $885,000 within a three-year period. In order to earn the additional 10% interest, Xmet must pay $100,000 plus issue 1,500,000 common shares within 90 days of earning 50% and incur exploration expenditures of $1,000,000 in year four.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Provinceof Ontario, is a reporting issuer in Alberta, British Columbiaand Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d'Or, Quebec. The Corporation also has an Option/Joint venture agreement with Xmet Inc. on the Blackflake West, (FeaganLake) graphite property, west of Zenyatta Resources. Metals Creek has also recently made a new gold/silver discovery in the "White Gold District" on the Squid East project in the Yukonand is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukonand Newfoundlandand Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Metals Creek Resources
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PRODUCER |
CODE : MEK.V |
ISIN : CA59131Q1000 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Metals Creek is a exploration company based in Canada. Metals Creek produces copper and gold in Canada. Its main asset in production is TILT COVE in Canada and its main exploration properties are STAGHORN, OGDEN, GABBRO LAKE, TILLEX and DOGPAW LAKE in Canada. Metals Creek is listed in Canada. Its market capitalisation is CA$ 312 463 as of today (US$ 229 972, € 208 814). Its stock quote reached its highest recent level on January 14, 2011 at CA$ 2.94, and its lowest recent point on September 12, 2024 at CA$ 0.01. Metals Creek has 31 246 269 shares outstanding. |