NORTHERN PENINSULA, NL - Metals Creek Resources announced Jan. 8 it has received a permit to fly an airborne time-domain electromagnetic and magnetic geophysical survey on the company’s Great Brehat property.
The survey will begin on the property, located near St. Anthony, within two weeks, according to a news release.
The claims that will be flown are adjacent to the south of White Metals Resources’ new gold discovery hosted by black sedimentary shale units that was announced in November.
The Metals Creek claims were staked to cover favourable geology similar to that of White Metals.
The junior exploration company believes it could potentially be a very important new discovery in a unique geological environment similar to other large gold deposits hosted in black shale environments around the world.
Metals Creek will plan an exploration program to evaluate the targets generated by the airborne survey.
Meanwhile, the company has granted 1,000,000 stock options to directors, officers, employees and consultants of the corporation, all with a term of five years at an exercise price of $0.10 per share.
White Metal announced in a news release on Dec. 18 that it has applied for a permit to fly an airborne time-domain electromagnetic and magnetic geophysical survey on its Gunners Cove property, located north of St. Anthony, covering the entirety of the claims it holds.
The company, which also hopes to complete its airborne geophysical survey sometime this month, says it will then immediately begin a diamond drilling program.