Mar 14 2016
Metals Creek Resources Corp. (the "Company") is pleased to report that the Company is preparing to submit to its Joint Venture partner Goldcorp a revision to its drill program on the Ogden Gold Project in Timmins Ontario.
The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp's 20 million oz Dome Mine and Lake Shore Gold's West Timmins Mine. The Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp") owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project.
In a News Release dated 04 March, 2016, The Company announced a step-out hole (OG16-040) that has demonstrated the presence of high grade gold mineralization west of the Thomas Ogden Zone (TOZ). Other than an historic hole on the same section as OG16-040, the Thomas Ogden West stratigraphy remains untested for an additional 1.5 kilometers west of TOZ. As a result of this discovery, management is in the process of revising the previously announced 3500 meter program (See news release dated December 8, 2015) to include additional holes in the Thomas Ogden West stratigraphy which remains untested for an additional 1 kilometer west of hole OG16-040 which includes a 500m untested Induced Polarization (IP) geophysical anomaly. The geophysical signature of this untested anomaly has similar characteristics to that of the Thomas Ogden Zone.
Drilling will resume in the Thomas Ogden West area once the revisions have been submitted and approved.
The Company also announces that it has granted 1,285,000 stock options to directors, officers, employees and consultants of the Corporation. All such options will have a term of three years at an exercise price of $0.11 per share, will be governed by the terms and conditions of the Corporation's stock option plan and will be subject to vesting provisions.
Michael MacIsaac, P.Geo and VP Exploration for the Company and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.