Metals Creek Dusts Off Yellow Fox Antimony/Gold Project

Rhea-AI Summary

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.

Positive

• Antimony prices have significantly increased, potentially benefiting the Yellow Fox project
• Initial prospecting at Yellow Fox yielded high gold values, with one sample returning 59.41 g/t Au
• Yellow Fox mineralization shows similarities to the Beaver Brook Antimony Mine, which has a substantial resource
• Clarks Brook project showed promising drill results, including 1.004 g/t Au over 25.8 m
• Careless Cove project yielded high-grade gold grab samples up to 11.83 g/t Au

Negative

• Yellow Fox project has not been drilled yet, indicating early-stage exploration
• Grab samples mentioned are selective and may not represent average grades on the properties

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Thunder Bay, Ontario--(Newsfile Corp. - September 30, 2024) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek), announces the Company has begun a re-evaluation of the Yellow Fox Antimony/Gold project located in the central Newfoundland Gold belt and 26.5 kilometers northeast of the Beaver Brook Antimony mine. Antimony prices have seen a significant increase over the last month with speculation of a potential supply shortage.

China recently has indicated it will place export restrictions commencing September 15 on antimony related products. With China accounting for 48% of global production, these supply restrictions will necessitate alternate sources of antimony especially for the United States who is one of the largest end users. The defense industry is one of the largest end users for antimony as well as the electronics industry.

Initial prospecting on the Yellow Fox property by Metals Creek personnel in 2011 resulted in a concentration of highly anomalous gold values with a single sample returning 59.41grams per tonne (g/t) Au from the main Yellow Fox Showing. Soil sampling and mechanical trenching was completed across the mineralization with 13 selective grab samples collected. Values ranging from 0.214g/t to 1.877g/t gold and up to 11.1% Antimony (Sb), 5.5% Lead (Pb), 7% Zinc (Zn) and 72.9g/t Silver (Ag) were returned. Subsequent channel sampling was carried out. The best results from channel sampling were 0.306g/t Au over 26.82m within 29 continuous samples and 4.57% Sb over 1m. Mineralization consists of pyrite, arsenopyrite, stibnite, sphalerite and galena and is hosted within a muscovite altered monzogranite along north-northeast trending structures. Structural zones show strong carbonate alteration with sulphide bearing stringers to veins of stibnite and arsenopyrite. Mineralization at Yellow Fox exhibits similar traits to that of the past producing Beaver Book Antimony Mine with the presence of Gold, silver, galena, sphalerite, stibnite and arsenopyrite. Of particular note is the highly anomalous gold values associated with the stibnite mineralization which further adds to the exploration potential with gold prices increasing over the last several months. Beaver Brook currently has a resource of 533,370 tonnes @ 4.17% Sb remaining at East Zone based on latest literature (Source: Mineral Occurrence Database/NFLD Gov't/National Inventory Number (002D111/Sb 003/Record Number 4417/2013).

The surface grab samples mentioned in this news release are selective by nature and are unlikely to represent average grades on the property.

Yellow Fox has not seen any drilling to date.

Figure 1: Property location map for Yellow Fox, Clarks Brook and Careless Cove

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/225011_311e5e8ae405b80d_002full.jpg

Figure 2. Photo of stibnite mineralization from yellow fox

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/225011_311e5e8ae405b80d_003full.jpg

Figure 3: Photo of Yellow fox showing in outcrop

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/225011_311e5e8ae405b80d_004full.jpg

CLARKS BROOK GOLD PROJECT

The Clark's Brook Property is located in central Newfoundland, 25 km west of Glenwood and was originally staked in 2016 to cover two untested gold showings. Limited drill testing subsequent to the property acquisition had significant results up to 1.004 g/t Au over 25.8 m and 26.878 g/t Au over 0.25m. The 100% owned property consists of 31 claim units (7.7 sq. km), surrounded by New Found Gold's Queensway Project.

Previous drilling tested the Clark's Brook East zone in ten holes. (see MEK press release dated 23 August 2017) Results include numerous gold intersections as tabulated below:

Hole		From		To		Length		Au g/t
CB-17-01		99.2		99.5		0.3		5.583
and		100.85		102.4		1.55		2.372
CB-17-02		127.75		130.75		3		3.369
incl		127.75		128		0.25		26.878
CB-17-03		33.4		34.15		0.75		1.252
and		51.4		51.9		0.5		3.364
CB-17-04		107.35		108.05		0.7		1.546
and		117		118.55		1.55		2.339
CB-18-05		113.2		116.3		3.1		3.744
incl		113.2		113.8		0.6		14.735
and		125.75		126.5		0.75		1.113
CB-18-06		85		85.5		0.5		1.36
and		106.6		123.1		16.5		0.942
incl		106.6		110.9		4.3		2.453
CB-18-07		97.15		97.65		0.5		1.936
and		118.25		120.65		2.4		1.354
and		161.35		162.65		1.3		0.77
CB-19-08		33		33.6		0.6		3.319
and		46.65		53.3		6.65		1.186
and		63.8		89.6		25.8		1.004
incl		73.6		80		6.4		2.045
and		85.8		88.8		3		2.263
and		110.05		110.45		0.4		1.946
and		142		145		3		2.614
and		435.5		437.4		1.9		1.512

 

Note- Drill results, as reported by Sokomon, are drill widths only, as the information is not adequate to calculate true widths. Analysis techniques are described in the previously quoted press release.

In October 2022, MEK conducted a small prospecting program on Clark's Brooke West which returned assays up to 10 grammes per tonne (g/t) Gold (Au) (See MEK News Release October 27, 2022). Clark's Brook West Zone has not been drill tested to date.

CARELESS COVE GOLD PROJECT

Prospecting by MEK (2020) on the Careless Cove block uncovered mineralization composed of quartz breccia with disseminated and vein hosted pyrite/arsenopyrite with minor stibnite. Grab sample results of 7.39g/t, 0.47g/t and 4.15g/t Au were attained. Follow-up prospecting located rubble approximately 50m away from the initial outcrop returning assays of 7.37g/t and 11.83g/t Au.

Of particular note should be the presence of stibnite which is along the same general trend to that of the Beaver Brook Mine. No assaying has been performed for Antimony on careless cove.

The Careless Cove and Clarks Brook project are available for option.

N. Wayne Reid, P.Geo and Director for the Company and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis 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 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 owns and/or has option agreements in place to acquire a 100% interest in claims in the Shabaqua Corners area of North western Ontario.

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/225011

FAQ

What caused Metals Creek Resources (MCREF) to re-evaluate its Yellow Fox project?

Metals Creek Resources began re-evaluating the Yellow Fox project due to significant increases in antimony prices and China's announcement of export restrictions on antimony products starting September 15, 2024.

What were the notable gold and antimony values found at the Yellow Fox project?

Initial prospecting at Yellow Fox yielded a sample with 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.

Has Metals Creek Resources (MCREF) conducted any drilling at the Yellow Fox project?

No, the Yellow Fox project has not seen any drilling to date. It is still in the early stages of exploration.

What were the best drill results from the Clarks Brook Gold project?

The best drill results from Clarks Brook included 1.004 g/t Au over 25.8 m and 26.878 g/t Au over 0.25m.

What gold values were found in grab samples at the Careless Cove project?

Grab samples from the Careless Cove project returned assays of up to 11.83 g/t Au.