News Feed Item

Metals Creek Resources Corp. Provides Update on Jacksons Arm Project in Newfoundland

TORONTO, ONTARIO -- (Marketwired) -- 01/12/17 -- Metals Creek Resources Corp. (TSX VENTURE: MEK) (the "Company") has been advised by its option partner Anaconda Mining Inc. (Anaconda) that Anaconda 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 Jacksons Arm property is under option from Metals Creek whereby Anaconda can earn a 100% 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% NSR.

The following descriptions are taken from Anaconda news release dated Jan 12, 2017.

Key exploration highlights:

--  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.

Geological Mapping

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 (Exhibit A). Consequently, Anaconda believes the potential strike of the alteration system could extend an additional four kilometers, both north and east.

Overview of Geology

Alteration and gold mineralization is hosted within the Ordovician-aged granites of the Coney Head Complex. The alteration zone and host granites are in thrust faulted contact with younger Silurian volcanic and sedimentary rocks along its southwestern margin. This steeply ENE-dipping and NNW-striking fault zone and associated splays are interpreted to represent significant control on the localization of hydrothermal alteration and gold mineralization on the property, where the host granite forms a favourable mechanical host to gold mineralization. The fault zone is interpreted as a secondary splay off the Doucer's Valley Fault system. The host environment to gold mineralization at Jackson's Arm has been observed by Anaconda geologists at the nearby Thor and Rattling Brook Deposits, and also at the Pine Cove Mine where gold mineralization is hosted adjacent to secondary thrust fault systems.

States Alexander (Sandy) Stares, President and CEO of Metals Creek, "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."

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 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. 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.

Metals Creek Resources Corp.
Alexander (Sandy) Stares
President and CEO
(709)-256-6061 (FAX)
[email protected]

Twitter: www.Twitter.com/MetalsCreekRes
Facebook: www.Facebook.com/MetalsCreek

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...