Metals Creek Resources Update on the Blackflake West Option
TORONTO, ONTARIO--(Marketwired - Jun 19, 2015) - Metals Creek Resources Corp. (TSX VENTURE:MEK) (the "Company") has been advised by Xmet Inc. (TSX VENTURE:XME) that the Blackflake West drill campaign confirmed the existence of an extensive Volcanogenic Massive Sulphide system with wide zones of mineralized rock. Assay results from the detailed sampling along the four holes confirms the anomalous base metal and gold values obtained in the rush sampling. The El Gordo target returned a maximum of 0.34%Zn over 4.0 metres in siliceous metamorphosed rhyolite with sulphide stringers and the El Nino target returned a maximum of 0.36%Zn and 503ppm Cu over 3.0 metres in semi massive to massive sulphide. Xmet management is reviewing the data from the project, specifically the lithogeochemical sample results in order to decide the next steps to be taken on the project. The data received from the drill program and its subsequent testing will be further evaluated given the presence of a Volcanogenic Massive Sulphide system as opposed to a hydrothermal graphite occurrence. Xmet has spent the necessary funds to retain its option in good standing through May of 2017.
Xmet Inc. has the option to earn a 50% interest (see Company news release May 22, 2014) in the Blackflake West (Feagan Lake) Graphite Project by paying to the Company 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.
Charles Beaudry, P.Geo and director for Xmet is the qualified person responsible for 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, and 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
Alexander Stares, President and CEO
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Contact
Metals Creek Resources Corp.
Alexander Stares
President and CEO
(709)-256-6060
(709)-256-6061
astares@metalscreek.com
www.MetalsCreek.com