Metals Creek Sells Shabaqua Corners Gold Project to Delta
Metals Creek Resources has entered into an agreement with Delta Resources to sell its Shabaqua Corners Gold Project. Delta will acquire 100% interest in eleven claims and the right to earn 100% interest in eight additional claims from Gold Cache Inc. The combined claims cover 233 hectares and are contiguous with the Delta-1 Property. The claims host several gold occurrences, including the Echo Zone and Gold Cache Main Zone, with surface samples ranging from 4.16 g/t Au to 50.1 g/t Au.
Under the agreement, Delta will pay $55,000 and issue 1,250,000 common shares to Metals Creek. Metals Creek will retain a 1% NSR with Delta having buyback options. The deal allows Metals Creek to focus on its Ogden Gold and Tillex Copper projects while maintaining exposure to Delta's success.
Metals Creek Resources ha stipulato un accordo con Delta Resources per vendere il suo progetto aurifero Shabaqua Corners. Delta acquisirà il 100% degli interessi su undici concessioni e il diritto di guadagnare il 100% di interesse su otto concessioni aggiuntive da Gold Cache Inc. Le concessioni combinate coprono 233 ettari e sono contigue con la proprietà Delta-1. Le concessioni ospitano diverse occorrenze d'oro, inclusa la Echo Zone e la Gold Cache Main Zone, con campioni superficiali che variano da 4,16 g/t Au a 50,1 g/t Au.
In base all'accordo, Delta pagherà 55.000 dollari e emetterà 1.250.000 azioni ordinarie a Metals Creek. Metals Creek manterrà un 1% di royalties nette sulla produzione (NSR) con opzioni di riacquisto per Delta. L'accordo consente a Metals Creek di concentrarsi sui suoi progetti Ogden Gold e Tillex Copper, mantenendo al contempo un'esposizione al successo di Delta.
Metals Creek Resources ha llegado a un acuerdo con Delta Resources para vender su proyecto de oro Shabaqua Corners. Delta adquirirá el 100% de los derechos sobre once reclamos y el derecho de obtener el 100% de los derechos sobre ocho reclamos adicionales de Gold Cache Inc. Los reclamos combinados cubren 233 hectáreas y son contiguos a la propiedad Delta-1. Los reclamos albergan varias ocurrencias de oro, incluida la Echo Zone y la Gold Cache Main Zone, con muestras de superficie que varían de 4.16 g/t Au a 50.1 g/t Au.
De acuerdo con el contrato, Delta pagará 55,000 dólares y emitirá 1,250,000 acciones ordinarias a Metals Creek. Metals Creek retendrá un 1% de regalías netas sobre la producción (NSR), con opciones de recompra para Delta. El acuerdo permite a Metals Creek centrarse en sus proyectos Ogden Gold y Tillex Copper, al tiempo que mantiene una exposición al éxito de Delta.
메탈스 크릭 리소시스는 델타 리소시스와 샤바쿠아 코너스 금 프로젝트를 판매하기 위한 계약을 체결했습니다. 델타는 11개의 권리에 대한 100%의 이익을 인수하고, Gold Cache Inc.로부터 8개의 추가 권리에 대한 100%의 이익을 얻을 수 있는 권리를 확보합니다. 결합된 권리는 233헥타르를 덮고 있으며 델타-1 재산과 인접해 있습니다. 해당 권리는 에코 존 및 골드 캐시 메인 존을 포함한 여러 금 발생지를 포함하며, 표면 샘플의 농도는 4.16 g/t Au에서 50.1 g/t Au까지 다양합니다.
계약에 따라 델타는 55,000달러를 지불하고 메탈스 크릭에 1,250,000주의 보통주를 발행합니다. 메탈스 크릭은 델타가 재매입 옵션을 가진 1%의 순로열티(NSR)를 유지합니다. 이 거래는 메탈스 크릭이 오그던 골드 및 틸렉스 구리 프로젝트에 집중할 수 있도록 하면서 델타의 성공에 대한 노출을 유지할 수 있게 합니다.
Metals Creek Resources a conclu un accord avec Delta Resources pour vendre son projet aurifère Shabaqua Corners. Delta acquerra un intérêt de 100 % dans onze titulaires et le droit de gagner un intérêt de 100 % dans huit titulaires supplémentaires de Gold Cache Inc. Les titulaires combinés couvrent 233 hectares et sont contigus à la propriété Delta-1. Les titulaires abritent plusieurs occurrences d'or, y compris la Zone Echo et la Zone Principale Gold Cache, avec des échantillons de surface allant de 4,16 g/t Au à 50,1 g/t Au.
Conformément à l'accord, Delta paiera 55 000 dollars et émettra 1 250 000 actions ordinaires à Metals Creek. Metals Creek conservera une redevance nette de 1 % (NSR) avec des options de rachat pour Delta. Cet accord permet à Metals Creek de se concentrer sur ses projets Ogden Gold et Tillex Copper tout en conservant une exposition au succès de Delta.
Metals Creek Resources hat eine Vereinbarung mit Delta Resources über den Verkauf ihres Shabaqua Corners Goldprojekts getroffen. Delta wird 100% der Anteile an elf Lizenzen erwerben und das Recht erhalten, 100% der Anteile an acht weiteren Lizenzen von Gold Cache Inc. zu erlangen. Die kombinierten Lizenzen umfassen 233 Hektar und grenzen an das Delta-1 Grundstück an. Die Lizenzen beherbergen mehrere Goldvorkommen, einschließlich der Echo Zone und Gold Cache Main Zone, mit Oberflächenproben, die von 4,16 g/t Au bis 50,1 g/t Au reichen.
Gemäß der Vereinbarung wird Delta 55.000 Dollar zahlen und 1.250.000 Stammaktien an Metals Creek ausgeben. Metals Creek behält eine 1%ige Nettoerlösbeteiligung (NSR) mit Rückkaufoptionen für Delta. Der Deal ermöglicht es Metals Creek, sich auf seine Projekte Ogden Gold und Tillex Copper zu konzentrieren und gleichzeitig eine Beteiligung am Erfolg von Delta aufrechtzuerhalten.
- Immediate cash payment of $55,000
- Receipt of 1,250,000 Delta Resources shares
- Retention of 1% NSR royalty with potential buyback value of up to $1M
- No further exploration costs while maintaining project exposure
- Divestment of potentially valuable gold property
- Delayed share vesting schedule of 312,500 shares every 4 months
Thunder Bay, Ontario--(Newsfile Corp. - October 29, 2024) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that it has entered into an agreement with Delta Resources Limited. (Delta) (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) whereas Delta will acquire a
The combined claims cover approximate 233 hectares and are all contiguous with the newly expanded Delta-1 Property (see map below). The claims are located in Horne and Dawson Road Lots Township.
The claims located west of the Eureka Gold Deposit host a number of gold occurrences including the Echo Zone (1.04 g/t Au over 18.7m surface channel sample and 0.45 g/t Au over 21 m in drill hole), the Gold Cache Main Zone (29.4 g/t Au over 0.6m surface channel sample) and other surface grab samples ranging from 4.16 g/t Au to 50.1 g/t Au.
Figure 1: Map of the eastern portion of the Delta-1 Expanded Property, showing the location of the newly acquired claims.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/228131_944e9fcaa4845a3c_002full.jpg
Alexander (Sandy) Stares, President and CEO of Metals Creek states "Making this deal with Delta allows Metals Creek to focus on our flagship Ogden Gold Project (50/50 JV with Newmont) and our Tillex Copper Project, where we have completed drilling with great success and awaiting additional results. In addition, Metals Creek and its shareholders will remain exposed to Delta's success with the share holding and the NSR on these claims. We believe that Delta is best positioned with their commanding land package to advance this exciting portion of the Shabandowan greenstone belt and we are very pleased to be a shareholder of Delta into the future."
"Delta deployed an aggressive strategy over the past year to control the eastern Shebandowan Greenstone Belt. With each addition to its property package, Delta is getting closer to its goal of controlling this highly prospective gold endowed belt where we believe that multiple significant gold deposits are yet to be uncovered. Having already made a significant discovery at the Eureka Gold deposit which remains open on strike and to depth, the Delta technical team is as keen on expanding the mineralized envelope at Eureka while it now sets its sights on furthering the potential of multiple gold deposits within this commanding land package. It's also noteworthy that Delta has no work commitments on the complete property package, allowing the team to focus where the data is pointing to areas of best potential. A potential that we're just starting to uncover." said André Tessier, President and CEO.
Under the terms of the agreement, Delta will pay to Metals Creek,
Metals Creek will also issue 425,000 MEK shares to GC and Delta will also have to pay
Metals Creek will retain a
There are no work commitments on the properties. The agreement is subject to regulatory approval.
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
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.sedarplus.ca.
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
709-424-1141
Metals Creek Resources Corp
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228131
FAQ
What are the terms of Metals Creek's (MCREF) sale of Shabaqua Corners Gold Project to Delta?
How many claims are included in the Metals Creek (MCREF) Shabaqua Corners sale?
What gold grades were found at the Shabaqua Corners property sold by Metals Creek (MCREF)?
