Metals Creek Resources Corp. Signs MOU With Mishkeegogamang First Nation On The Dona Lake Gold Property, Ontario
V.MEK | 2 days ago
[[ Thanks to beancount at Stockhouse ]]
Toronto, Ontario--(Newsfile Corp. - June 15, 2020) - Metals Creek Resources Corp. (TSXV: MEK) (Metals Creek or the "Company") is pleased to announce that the company has signed a Memorandum Of Understanding (MOU) with Mishkeegogamang First Nation. The goal is to establish a long term, mutually beneficial and co-operative relationship based on trust and certainty.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp - see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine
. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Property consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,063 hectares and covers the past producing Dona Lake Mine.
Currently there are four known gold bearing oxide iron formations that host gold mineralization on the Dona Lake Gold Project. It is interpreted that the more pyrrhotite rich sections of the iron formation within the Dona Lake deposit tend to exhibit a strong spatial relationship to increased gold mineralization. This could be a result of pyrrhotite replacing magnetite, decreasing the magnetite content and magnetic signature. With pyrrhotite being highly conductive, modeling of the recently completed airborne will prioritize targets exhibiting strong conductivity and weaker magnetic signatures.
In addition company personnel have been compiling data from the past producing Dona Lake Mine to try and determine what mineralization remains outside the area of selective historic mining. During compilation, it was determined that the deepest hole found to date was drilled approximately 100m below the mine workings of the Main Zone (455m). This hole (455-2) returned a down hole intercept of 4.36 g/t Gold over 21.08 meters indicating the continuation of mineralization at depth below the bottom level (455 Level) of the Dona Lake Mine Main Zone.
Read more at: https://stockhouse.com/news/press-releases/2020/06/15/metals-creek-resources-corp-signs-mou-with-mishkeegogamang-first-nation-on-the