Metals Creek Resources (TSX-V: MEK)
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Message: MEK.V VTEM Confirms ‘All Channel’ Response Blackflake West
| TSX-V: MEK MCREF Frankfurt: M1C |
METALS CREEK RESOURCES CORP. Telephone: (709) 256 6060 Facsimile: (709) 256 6061 MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek |
New Detailed VTEM Survey Confirms ‘All Channel’ Response on Metals Creek Resources Blackflake West Project
Toronto, Ontario, 29 September 2014 - Metals Creek Resources (TSX-V:MEK) has been advised by its’ option joint venture partner Xmet Inc. (“Xmet” or the “Company”) (TSXV-XME) that it has successfully completed its Versatile Time Domain Electromagnetic (“VTEM”) survey, comprising 215 line kilometres, over the Blackflake West project.
As stated by Xmet, the results indicate that four conductors were identified, including a large circular conductive anomaly with a diameter of approximately 750 metres. This large anomaly contains the ‘All Channel’ EM anomaly with very clear late channels responses (See Image 2). Analysis concludes that the anomaly is a strong bedrock conductor which has the ‘All Channel’ response potential for a graphitic source and will be drilled as soon as possible. Geophysical analysis recommends the next course of action to be ground geophysics in the form of induced polarization/resistivity to better define the conductive source and its depth estimation. This geophysical survey is set to begin in the near term.
“We are very pleased with the VTEM results outlining in more detail the ‘All Channel’ conductive response by Xmet as part of earning their percentage in the project to date.,” states Alexander Stares, President and CEO of Metals Creek. The results of this survey clearly defines a very large conductive response precisely where Metals Creek initially discovered the ‘All Channel’ response. With this target now confirmed by tightly spaced flight lines, we have a much higher degree of confidence with regards to the size and orientation of the ‘All Channel” EM anomaly. Nine east-west lines and eight north-south lines intersected the target with ‘All Channel’ responses picked up within the central portion of the anomaly, so it is evident that there is a significant anomaly that rests within the bedrock in terms of size and conductivity. This exciting VTEM result moves the project forward one step closer to Xmet drilling the ‘All Channel” conductive response to determine the nature of this anomaly.
Xmet Inc. has the option to earn a 50% interest (see news release May 22, 2014) in the Blackflake West (Feagan Lake) Graphite Project by paying an aggregate of $20,000 plus issue up to 3,000,000 common shares and incur exploration expenditures in the amount of $885,000 within a three year period. In order to earn the additional 10% interest, Xmet must pay $100,000 plus issue 1,500,000 common shares within 90 days of earning 50% and incur exploration expenditures of $1,000,000 in year four.
Michael MacIsaac, P. Geo, VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for the preparation of this release
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. The Corporation also has an Option/Joint venture agreement with Xmet Inc. on the Blackflake West, (Feagan Lake) graphite property, west of Zenyatta Resources. Metals Creek has also recently made a new gold/silver discovery in the “White Gold District” on the Squid East project in the Yukon and is also 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. 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.
On Behalf Of the Board of Directors
Metals Creek Resources Corp.
Alexander Stares, President and CEO
Telephone: (709)-256-6060
Fax: (709)-256-6061
Email: astares@metalscreek.com
MetalsCreek.com
Twitter.com/MetalsCreekRes
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