Metals Creek Resources Partner, Sokoman Minerals Applies For Permits To Drill Clarks Brook, Central Newfoundland
Metals Creek Resources Partner, Sokoman Minerals
Applies For Permits To Drill Clarks Brook, Central
Newfoundland
Toronto, Ontario--(Newsfile Corp. - April 16, 2019) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek) is
pleased to
announce that they have been advised by their option joint venture partner, Sokoman Minerals Corp (Sokoman) (TSXV: SIC) that
Sokoman has applied for permits to drill in Q2 2019 on the Clarks Brook epithermal gold property located 35 kms to the
southeast of Moosehead. This will be a small program, under 2,000 m, testing below previous gold intercepts to see if higher
grade mineralization, that often lies deeper in classic epithermal environments, exists. This exploration will be completed before
the Phase 4 drilling at Moosehead. (See SIC News Release Dated 16 April 2019). The Clarks Brook project is under an
option/JV agreement from Metals Creek.
To earn an initial 75% interest, Sokoman must make cash payments of $45,000 over three years (no cash on signing) and issue
a total of 3,000,000 Sokoman common shares over three years (500,000 due upon regulatory approval) and incur work
expenditures of $800,000 over three years ($100,000 by 1st anniversary).
Sokoman will be the operator during the earn-in
period. Once a 75% interest is earned by Sokoman, either a 75/25 joint venture will be formed, or Sokoman may elect to earn an
additional 25% interest to bring its total property interest to 100%. The terms to increase its interest from 75% to 100% include
payments of $100,000 and the issuance of an additional 2,000,000 Sokoman shares within 60 days of the 3rd anniversary date.
This agreement is subject to regulatory approval.
Metals Creek currently holds 2,250,000 SIC shares.
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, 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. Metals Creek also has an option agreement with Quadro Resources
on Metals Creeks and Benton Resources Staghorn Gold Project in Newfoundland as well as two option agreements with
Anaconda Mining Inc. on Metals Creek's Jacksons Arm and Tilt Cove Properties also in Newfoundland. The company also has
an option agreement on its Clarks Brook property with Sokoman Iron Corp. and is engaged in the identification, acquisition,
exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and
Newfoundland and Labrador including the recently acquired Great Brehat project on the Great Northern Peninsula of
Newfoundland. 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.
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/44119