By Kalwinder KaurJul 31 2012
Metals Creek Resources has secured notice from Goldcorp and Goldcorp Canada that it does not plan to continue its back-in right at the Ogden Township property. This aspect paves the way for an official 50/50 joint venture (JV) made with Goldcorp in order to continue the Ogden property exploration.
The operator of this project will be MEK and next campaigns will be financed on a 50/50 basis.
According to Metals Creek’s CEO and President, Sandy Stares, this latest news is a significant milestone for the company. It is expecting to work with Goldcorp on the Ogden JV while it proceeds with an aggressive exploration campaign. Forthcoming campaigns will continuously assess the grade, size and economics of the several gold zones.
The Ogden project encloses a strike length of 8 km over the Porcupine-Destor Break and contains the Thomas Ogden zone and Naybob Gold mine. The location of the property is between West Timmins mine of Lake Shore Gold and Dome mine and mill complex of Goldcorp. MEK’s drilling for the previous three years has targeted four prominent gold zones and the new drilling focuses on the Thomas Ogden zone (TOZ). The TOZ has shown exceptional potential and the company’s management continues to feel encouraged as it has successfully outlined the down plunge expansion and geometry of the gold zone.
The company is preparing for a planned work campaign and is expecting to recommence the drill program during this fall.
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