Metals Creek Resources Corp. Signs LOI for Clarks Brook Gold Property, Central Newfoundland
Metals Creek Resources Corp. Signs LOI for Clarks
Brook Gold Property, Central Newfoundland
Toronto, Ontario--(Newsfile Corp. - February 13, 2020) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek) is
pleased to announce that they have signed a Letter of Intent (LOI) outlining terms whereby Deep Blue Trading Inc. (DBT) (a
private company owned by an arm's length third party)
can earn a 100% interest in the Clarks Brook Gold Property, located in
central Newfoundland.
The Clarks Brook property is located approximately 25 kilometers south west of the recently announced 19 metres of 92.86 g/t
gold in a
drill hole by New Found Gold (see Mexican Gold Corp news release dated January 26, 2020)
See Table Below for Previous Drill Intercepts at Clarks Brook:
Hole
From
To
Length
Au g/t
CB
17
01
99.20
99.50
0.30
5.583
and
100.85
102.40
1.55
2.372
CB
17
02
127.75
130.75
3.00
3.369
incl
127.75
128.00
0.25
26.878
CB
17
03
33.40
34.15
0.75
1.252
and
51.40
51.90
0.50
3.364
CB
17
04
107.35
108.05
0.70
1.546
and
117.00
118.55
1.55
2.339
CB
18
05
113.20
116.30
3.10
3.744
incl
113.20
113.80
0.60
14.735
and
125.75
126.50
0.75
1.113
CB
18
06
85.00
85.50
0.50
1.36
and
106.60
123.10
16.50
0.942
incl
106.60
110.90
4.30
2.453
CB
18
07
97.15
97.65
0.50
1.936
and
118.25
120.65
2.40
1.354
and
161.35
162.65
1.30
0.77
CB
19
08
33.00
33.60
0.60
3.319
and
46.65
53.30
6.65
1.186
and
63.80
89.60
25.80
1.004
incl
73.60
80.00
6.40
2.045
85.80
88.80
3.00
2.263
and
110.05
110.45
0.40
1.946
and
142.00
145.00
3.00
2.614
and
435.50
437.40
1.90
1.512
and
441.80
442.55
0.75
2.326
and
446.80
447.40
0.60
3.312
and
491.95
493.00
1.05
1.03
CB
19
09
151.70
156.00
4.30
0.396
and
176.35
176.75
0.40
1.397
and
254.45
257.35
2.90
0.299
CB
19
10
209.25
210.65
1.40
0.529
and
254.15
257.65
3.50
0.343
and
318.45
319.40
0.95
0.564
To earn a 100%
interest in the Clarks Brook property, DBT
must make cash payments of $195,000 over three years ($20,000
on signing) and issue a total of *1,500,000
common shares over three years (*200,000 due when the company is announced).
Metals Creek will retain a 2% NSR, one half (1%) which can be purchased by DBT for $1,000,000. DBT must also complete a
43-101 report on the property by the first anniversary.
(* The common shares will be issued from a publicly trading company.)
About Metals Creek Resources Corp
.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a
reporting issuer in Alberta, British Columbia and 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 from Newmont Goldcorp, including the
former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor
Fault (P-DF). In addition, Metals Creek has recently signed an agreement with Newmont Goldcorp, where Metals Creek can
earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Ming District of Ontario.
Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties
interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company 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.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email:
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/52401