Metals Creek Resources Advances Jacksons Arm Project in Newfoundland, Canada

Published: January 17, 2017 |

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Metals Creek Resources Corp. and its option partner Anaconda Mining Inc. has completed a preliminary work program at the Jackson’s Arm property, which is part of Anaconda’s Great Northern project, located approximately 20 kilometers north of Anaconda’s Viking project. The work program was successful in defining areas of prospectivity within the property by determining key geological controls associated with known surface mineralization.

The Jackson’s Arm property is under option from Metals Creek whereby Anaconda can earn a 100 percent interest by making payments of $200,000, issuing to Metals Creek 500,000 shares of Anaconda and completing work expenditures of $750,000 over 3 years. After vesting Metals Creek will retain a 2 percent NSR.

“It is great to see the Jacksons Arm project being advanced by Anaconda. These recent results emphasize the property’s potential and we look forward to results from Anaconda’s continuing work. This is one of a number of properties that MEK has farmed-out to third parties while retaining an interest in the up-side. We will continue to generate new opportunities for possible farm-out while our main focus will be on our flagship Ogden Gold Project in Timmins, ON,” said Alexander Stares, president and CEO of Metals Creek.

Key exploration highlights include:

• Completed 15 line kilometers of geological mapping, including detailed mapping of 10 trenches;

• Outlined a continuous zone of gold mineralization and alteration that is 1.7 kilometers long by 40 to 400 meters wide;

• Defined 4 kilometers of exploration potential to the north (1 kilometer) and east (3 kilometers);

• Rock samples assayed 24.5 grams per tonne (g/t) gold and 0.03 g/t gold (Boot N’ Hammer Prospect), 11.7 g/t gold (Stocker Prospect) and 3.35 g/t gold (Trench JT1);

• Determined that gold mineralization and alteration are associated with a series of fault zones that are splays off the Doucer’s Valley Fault; a similar setting to the Pine Cove Deposit at the Point Rousse Project.

During the late fall of 2016, Anaconda completed a total of 15 line kilometers of grid, geological mapping and mapped 10 trenches in detail. Mapping outlined a 1.7-kilometer long by 40 to 400-meter wide continuous alteration zone that is host to the main gold prospects at Jackson’s Arm on the west side of the property. The alteration is controlled by a fault zone that is interpreted to extend immediately to the north along strike beyond the current, known zone of alteration. The company has also discovered similar repeating faults to the east. Consequently, Anaconda believes the potential strike of the alteration system could extend an additional four kilometers, both north and east.

About Metals Creek Resources
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 percent 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 that stretches between Timmins, Ontario and Val d’Or, Quebec. The company has also recently entered into an option/JV with Trifecta Gold Ltd. on Metals Creek’s Squid properties in Yukon. Metals Creek also has a JV with Benton Resources on Metals Creeks 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 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.

To stop by Metals Creek Resources’ website, CLICK HERE

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