Sep 21 2016
Metals Creek Resources Corp. is pleased to report that the Company has mobilized a diamond drill rig to the Ogden Gold Project in Timmins Ontario and drilling is expected to start within 2 days.
The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp’s 16.5 million oz Dome Mine and Tahoe Resources 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.
This round of drilling will be comprised of approximately 2000 meters focused primarily on the Thomas Ogden Zone where drilling in 2012 intercepted 49.96 grammes per tonne (g/t) gold over 9 meters (m), including 434.77g/t over 1 m (See MEK news release dated April 10, 2012), and drilling in 2013 had intercepted 210.19 g/t gold over 12.53 m, including 2732.6 g/t gold over 0.93 m. (See MEK news release dated May 22, 2013). Results from this drilling will be released when received and data is compiled.
Metals Creek has been accepted to participate in the Junior Exploration Assistance Program (JEAP) grant of up to 33.3% of approved exploration expenses up to a maximum of $100,000 on the Ogden Project. MEK would like to thank the Northern Ontario Heritage Fund and the Ontario Prospectors Association for the opportunity to participate in this program.
Metals Creek also announces that The Company has granted 1,175,000 stock options to directors, officers, employees and consultants of the Corporation. All such options will have a term of five years at an exercise price of $0.10 per share,and 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.