Welcome to our dedicated page for Metals Creek news (Ticker: MCREF), a resource for investors and traders seeking the latest updates and insights on Metals Creek stock.
Metals Creek Resources Corp. (MCREF) generates news primarily through exploration updates, property transactions and financing activities related to its mineral projects in Newfoundland and Ontario. As a junior exploration company with listings on the TSX Venture Exchange ("MEK") and Frankfurt ("M1C1"), its announcements often focus on early-stage gold and critical metals exploration results.
Readers following Metals Creek news can expect detailed reports on work at the Ogden Gold Property in the Timmins Gold Camp, where the company holds a 50% interest earned from Newmont Corporation. News releases describe prospecting, mapping and trenching at zones such as Naybob West, including high-grade gold assays and observations about alteration, structural trends and mineralization along the Porcupine-Destor Fault.
Company updates also cover activity on Newfoundland properties, including high-grade gold and antimony sampling at the Careless Cove Property and references to rare earth element and critical metal potential at the Yellow Fox Property, which was acquired by option partner Lomiko Metals Inc. These items provide insight into the geological characteristics and exploration potential of Metals Creek’s portfolio.
In addition, Metals Creek regularly announces non-brokered private placements and flow-through financings, outlining unit structures, use of proceeds for exploration, and exchange approval processes. Occasional corporate and property-related transactions, such as acquiring a 0.5% net smelter royalty on the Tillex property, are also disclosed. Investors and observers can use this news feed to track Metals Creek’s exploration progress, financing plans and property interests over time.
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.
Metals Creek Resources Corp. announces a non-brokered private placement to raise a total of $400,000. The company will issue 8,000,000 flow-through units and 8,000,000 non flow-through units at $0.025 per unit. Each flow-through unit includes one common share and one warrant exercisable at $0.06, while each non flow-through unit includes one common share and one warrant exercisable at $0.05. The funds will support drilling at the Tillex Copper Project and Shabaqua Corners Gold Property. The last drilling at Tillex in 2011 yielded significant results, including 85.48 meters of 1.65% copper and 33 g/t silver.
On June 14, 2024, Metals Creek Resources announced promising drill results from their Shabaqua Corners Gold Property (SCGP). The deepest hole in the Echo Zone revealed visible gold with 0.45 g/t Au over 21m. Five drill holes targeted the Main and Echo Zones, with significant results including:
- GC24-001: 0.37 g/t Au over 28m, including 1.09 g/t Au over 3m.
- GC24-002: 0.48 g/t Au over 21m, within a broader 40m zone of 0.33 g/t Au.
- GC24-003: 0.15 g/t Au over 39m.
- GC24-004: 0.29 g/t Au over 3.56m.
GC24-005 showed no significant assays. The program identified extensive alteration with increasing alteration intensity and gold mineralization at depth. The SCGP is located in the Shebandowan Greenstone Belt, 54 km west of Thunder Bay, Ontario, and displays potential for further gold delineation.
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