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About Metals Creek Resources Corp. (MCREF)
Metals Creek Resources Corp. is a junior mineral exploration company headquartered in Ontario, Canada, with a strategic focus on identifying and advancing gold and base metal deposits in historically significant and underexplored regions. The company operates under the symbol "MCREF" on the stock market and "MEK" on the TSX Venture Exchange. Metals Creek is known for its technical expertise, commitment to exploration excellence, and a diversified portfolio of high-potential projects across Canada.
Core Business and Strategic Focus
Metals Creek specializes in mineral exploration, targeting gold and copper deposits with significant economic potential. The company employs modern exploration techniques to uncover value in historic mining districts and underexplored terrains. Metals Creek's business model revolves around acquiring, exploring, and advancing mineral properties to the stage where they can attract partnerships or generate shareholder value through resource development.
Key Projects
- Tillex Copper Project: Located in Currie Township, Ontario, this project hosts the Tillex copper deposit, known for its structurally complex mineralized zones. Recent drilling programs have confirmed high-grade copper and silver mineralization, with chalcopyrite as the primary mineral. The project benefits from proximity to established mining infrastructure near Timmins, Ontario.
- Ogden Gold Property: A 50/50 joint venture with Newmont Corporation, this property is situated along the prolific Porcupine-Destor Fault in Timmins, Ontario. It includes the historic Naybob Gold Mine and boasts an 8-kilometer strike length of highly prospective geology.
- Careless Cove Property: Located in Newfoundland, this project lies adjacent to New Found Gold Corp.'s Queensway High-Grade Gold Project. Recent discoveries include multiple zones of gold mineralization, with assays indicating significant potential for further exploration.
- Shabaqua Corners Property: Metals Creek holds a 100% interest in this property in Northwestern Ontario, which is available for option agreements, highlighting the company's strategy of leveraging its portfolio for additional funding and exploration partnerships.
Competitive Positioning
Metals Creek operates in a highly competitive mineral exploration industry, characterized by significant geological, financial, and regulatory challenges. The company differentiates itself through its focus on historically productive mining regions, partnerships with major players like Newmont Corporation, and adherence to stringent industry standards such as NI 43-101. Its strategic location of projects near established mining hubs further enhances its operational efficiency and market appeal.
Operational Excellence and Industry Standards
Metals Creek is committed to maintaining high standards of exploration and reporting. The company utilizes advanced geological modeling, rigorous QA/QC protocols, and industry-compliant resource estimation methods. This approach not only ensures the reliability of its exploration results but also reinforces its credibility among investors and stakeholders.
Partnerships and Agreements
Strategic partnerships are a cornerstone of Metals Creek's business model. The joint venture with Newmont Corporation on the Ogden Gold Property exemplifies this approach, as does its agreement with Delta Resources Limited to monetize non-core assets while retaining exposure through royalties and equity stakes. These partnerships enable Metals Creek to focus resources on flagship projects while benefiting from the success of its partners.
Exploration and Market Potential
Metals Creek's exploration strategy is designed to unlock value by targeting high-grade mineralization in regions with proven geological potential. The company's projects are strategically located near infrastructure and within established mining jurisdictions, providing a competitive advantage in terms of logistics and regulatory compliance. By focusing on both gold and base metals like copper, Metals Creek diversifies its exposure to market demand and commodity price fluctuations.
Conclusion
Metals Creek Resources Corp. stands out as a technically proficient and strategically focused mineral exploration company. With a diversified portfolio of high-potential projects, strong industry partnerships, and a commitment to operational excellence, Metals Creek is well-positioned to continue uncovering value in Canada's rich mineral landscape. The company's adherence to industry best practices and its focus on historically significant mining regions underscore its role as a trusted player in the exploration sector.
Metals Creek Resources Corp. (TSXV: MEK) has announced significant drilling results from hole TX24-020 at the Tillex Copper Project in Ontario. The hole intercepted 110 meters of 1.69% Copper and 7.05 g/t Silver, marking the longest intercept to date at the project. Two higher-grade zones were identified: 2.46% Cu over 26.72m and 3.04% Cu over 23.60m. The mineralization consists of chalcopyrite in various forms with local pyrite and pyrrhotite. The drill hole targeted section 150N to define a prominent flexure in the mineralized stratigraphy, located 65 km east of Timmins and 45 km from the Kidd Creek Met site.
Metals Creek Resources Corp. (TSXV: MEK) has announced results from the first hole of its recent diamond drilling program at the Tillex Copper Project in Ontario. Hole TX24-021 returned a 63.9-meter intercept of 1.94% Copper and 10.22 g/t Silver, including higher-grade intervals of 3.21% Cu and 4.77 g/t Ag over 15.2m, and 2.58% Cu and 15.88 g/t Ag over 17.9m. The mineralization consists of disseminated chalcopyrite, stringers, and veins within graphitic argillites and dacitic tuffs. A mineralized feldspar porphyry was also encountered, with copper assays ranging from 0.32% to 1.44%. The company is encouraged by these results and awaits findings from the remaining holes. The Tillex project hosts a historic non-compliant resource of 1,338,000 tonnes grading 1.56% Copper.
Metals Creek Resources Corp. (TSXV: MEK) has begun re-evaluating its Yellow Fox Antimony/Gold project in Newfoundland. The project is 26.5 kilometers northeast of the Beaver Brook Antimony mine. This move comes as antimony prices have significantly increased, with China announcing export restrictions starting September 15. Initial prospecting in 2011 yielded highly anomalous gold values, with one sample returning 59.41 g/t Au. Subsequent sampling showed values up to 11.1% Antimony, 5.5% Lead, 7% Zinc, and 72.9 g/t Silver. The mineralization is similar to the Beaver Brook Antimony Mine, which has a resource of 533,370 tonnes @ 4.17% Sb. Yellow Fox has not been drilled yet. The company also provided updates on its Clarks Brook and Careless Cove Gold projects, with Clarks Brook showing drill results up to 1.004 g/t Au over 25.8 m and Careless Cove yielding grab samples up to 11.83 g/t Au.
Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) has closed its non-brokered private placement financing, raising $122,000. The company issued 4,500,000 flow-through units at $0.025 per unit and 475,000 non-flow-through units. Each flow-through unit includes one flow-through common share and one warrant exercisable at $0.06 for 24 months. Non-flow-through units consist of one common share and one warrant exercisable at $0.05 for 24 months.
An insider subscribed for 475,000 non-flow-through units ($9,500). The company paid $6,000 in finders' fees and issued 240,000 broker warrants. Proceeds from flow-through units will fund drilling on the Tillex Copper Project and Shabaqua Corners Gold Property. All securities are subject to a four-month hold period, expiring November 18, 2024.
Metals Creek Resources Corp. (TSXV: MEK) has completed a diamond drilling program at the Tillex Copper Project in Ontario. The program targeted near-surface mineralized areas to upgrade the current geological model. Chalcopyrite mineralization was intercepted in various rock types, including graphitic argillites, greywacke, dacites, and porphyry dikes. The company is encouraged by visual results, particularly chalcopyrite presence in feldspar porphyry dikes. Core samples are being sent for laboratory analysis.
The Tillex project hosts a historic non-compliant resource of 1,338,000 tonnes grading 1.56% Copper. However, this calculation does not meet current NI 43-101 standards and has not been independently verified by the
Metals Creek Resources Corp. (TSXV: MEK) has commenced diamond drilling at the Tillex Copper Project in Currie Township, 65 km east of Timmins, Ontario. The program targets mineralized argillites and Dacites with associated chalcopyrite. The project hosts the Tillex copper deposit, discovered in 1973, with a historic non-compliant resource of 1,338,000 tonnes grading 1.56% Copper. The last drilling at the site was in 2011, revealing copper mineralization up to 85m in width. Results from the current program will be released upon compilation. Michael MacIsaac, P.Geo and VP Exploration, is overseeing the project as the qualified person.
Metals Creek Resources Corp. (TSXV: MEK) has secured a diamond drill for an upcoming program at its 85% owned Tillex Copper Project in Currie Township, 65 km east of Timmins, Ontario. The drilling, set to commence in early to mid-September, will target mineralized argillite with associated chalcopyrite in both stringer and blebby style mineralization. The Tillex Copper Project was last drilled in 2011, revealing copper mineralization up to 85m in width. Results from this new program will be released once received and compiled. Michael MacIsaac, P.Geo and VP Exploration, is overseeing the project as the qualified person under National Instrument 43-101.
Metals Creek Resources Corp. (TSXV: MEK) has closed the first tranche of its non-brokered private placement financing, raising $122,000. The company issued 4,500,000 flow-through units at $0.025 per unit and 475,000 non-flow-through units. Each flow-through unit includes one flow-through common share and one warrant, while non-flow-through units consist of one common share and one warrant. The company paid $6,000 in finders' fees and issued 240,000 broker warrants. Proceeds from the flow-through units will be used for drilling on the Tillex Copper Project and Shabaqua Corners Gold Property. The financing includes a $9,500 insider participation, classified as a "related party transaction" under MI 61-101.
Metals Creek Resources Corp. (TSXV: MEK, FSE: M1C1) has filed with the TSX Venture Exchange to close the first tranche of its non-brokered private placement financing. This first tranche includes 4,500,000 flow-through units (FT Units) at $0.025 per unit, raising $112,500. Each FT Unit comprises one flow-through common share and one non-flow-through common share purchase warrant, exercisable at $0.06 per share for 24 months.
The company also plans to issue 10,000,000 non-flow-through units (NFT Units) at $0.02 per unit, closing on 475,000 NFT Units for $9,500. Each NFT Unit consists of one common share and one purchase warrant, exercisable at $0.05 per share for 24 months. Proceeds from FT Units will fund exploration at Tillex Copper Project and Shabaqua Corners Gold Property. All securities are subject to a four-month hold period, and the placement remains subject to TSX Venture Exchange approval.
Metals Creek Resources Corp. (TSXV: MEK) has repriced the non flow-through portion of its non-brokered private placement. The company plans to issue up to 10,000,000 non flow-through units (NFT Units) at $0.02 per unit, raising up to $200,000. Each NFT Unit will include one non flow-through common share and one warrant, allowing the purchase of an additional share at $0.05 within 24 months. Moreover, Metals Creek will issue up to 8,000,000 flow-through units (FT Units) at $0.025 per unit, also targeting $200,000 in proceeds. Each FT Unit comprises one flow-through share and one warrant, enabling the purchase of a non flow-through share at $0.06 within 24 months. The FT Shares come with tax benefits under the Income Tax Act (Canada). The private placement is expected to close by July 31, 2024, pending TSX Venture Exchange approval, and may involve finders' fees paid in cash or securities.
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