Metals Creek/Quadro Amends Yellow Fox/Careless Cove LOI
Thunder Bay, Ontario--(Newsfile Corp. - September 2, 2022) - Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) announces that Metals Creek and Quadro Resources Ltd (Quadro) have amended the Yellow Fox/Careless Cove LOI.
Metals Creek and Quadro has signed an agreement amending the terms of the Aug. 11, 2020, Yellow Fox/Careless Cove letter of intent with Metals Creek Resources Corp. (see Oct. 8, 2020, news release for details of the original agreement).
Under the terms of the amending agreement and subject to TSX Venture Exchange approval, in lieu of the second-anniversary cash payment of $20,000, Quadro will issue to Metals Creek 500,000 additional common shares of the company for a total of 900,000 common shares at a deemed price of four cents per share.
Careless Cove/Yellow Fox Property
The Careless Cove and Yellow Fox properties are located southwest of Glenwood in east-central Newfoundland (see Quadro's press release dated April 28, 2021). Previous work on the two claim blocks that comprise the properties resulted in the discovery of gold mineralization up to 11.38 grams per tonne gold and 59.413 grams per tonne gold as described in Quadro's May 27, 2021, press release.
Quadro has an option to earn a 100-per-cent interest in the Careless Cove/Yellow Fox claim groups, totalling 40 claim units. The Careless Cove properties are adjacent to New Found Gold Corp.'s claims, which have seen promising early results. Prospecting and soil geochemistry were carried out in mid-2021 (see Quadro's news release dated May 27, 2021), with exploration and drilling planned for winter 2022.
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 from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
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.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135841