ONTARIO – Metals Creek Resources of Gander, Nfld., announced on Nov. 28 that the company has begun diamond drilling on 10 patented mining claims on the Garrison project northeast of Kirkland Lake.
The Garrison project is contiguous with Osisko Mining to the west, south and east and contiguous with Kirkland Lake Gold to the north.
The diamond drill program will consist of five holes targeting several induced polarization (IP) anomalies outlined in the company’s geophysical program this month. One of these IP anomalies is coincident with several historic holes.
Metals Creek can earn a 100% interest in the patents by making cash payments totaling $310,000 over four years following the execution of the letter of intent. The vendors will retain a 2% net smelter royalty which the company can purchase 1% for $1 million.
The company’s stock jumped 12% Wednesday, following the announcement.
This story first appeared on www.Mining.com.