Home   Links   Editorials

More Gold in Metals Creek

Bob Moriarty
Archives

Feb 8, 2017

What can you do when a company has $2 million in the bank and a market cap of just under $4.5 million; it’s run by one of those honored by PDAC as a Bill Dennis Prospector of the Year for 2007? What do you do when they have released gold numbers as high as 210.19 g/t over 12.53 meters in hole TOG13-25 and their primary project has a former producing gold mine and a historic resource of 132,000 ounces?

If you have even a lick of sense, you go out and buy some shares. That’s what I did.

A year ago I read about a company drilling in Ecuador. It was an Australian company, which I hate, listed on AIM, which I hate, had a zillion shares outstanding like all AIM, which I hate, and was quoted in British pence. Which I hate.

Their website sucked and there was nothing at all good about the company except some drill results. They were in the wrong country, with the wrong structure, listed on the wrong exchange and you had to wade through a swamp to figure out what they were doing. I emailed the president of the company with some simple questions and I’m still waiting for an answer a year later.

But they had gold and copper coming out of their ears with results of 1050 meters of .68% copper with .92 g/t gold, 772 meters of .80% copper and 1.19 g/t gold and kept drilling kilometer long intercepts. Well, if you have any sense, you go buy some shares and I did. The shares were 3 pence then and 34 pence now for a 1033% + increase in eleven months.

If you deliver the goods, the punters will beat a path to your door. Eventually. It helps a lot if you can figure out how to tell the story so others can see what you see.

Someone contacted me recently about a company whose major project is a 50/50 JV with Goldcorp on a project in the heart of the Timmins Gold camp they call the Ogden property. The deposit covers a total of eight kilometers of strike on the Porcupine-Destor Fault in between the Goldcorp Dome Mine and the West Timmins Mine owned by Tahoe Resources. Basically Ogden is right in the guts of elephant country and has never been adequately prospected before.

Metals Creek optioned the property from Goldcorp in 2008 and completed a work commitment of $3.1 million and issued shares to earn their 50%. MEK is the operator of the JV and continues to drill. Ogden consists of 84 patented and unpatented claims totaling about 1184 hectares. Between 5 and 8 km to the east on trend are six producers and past producers of over 24 million ounces of gold including 17 million ounces just from the Dome Mine.

Since signing the deal with Goldcorp, MEK has completed 104 diamond drill holes and 26,447 meters of core. On the 11th of January the company released drill results from a six-hole 2,382-meter program. The results were excellent and typical for the area and included 8.2 meters of 5.73 g/t gold, 12.45 meters of 4.39 g/t gold and 5.06 meters of 1.2 g/t gold. Past result from 2013 included a bonanza hole with 210.9 g/t gold over 12.53 meters in hole 25.

Metals Creek is run by Sandy Stares. He was one of the winners of the PDAC prospector of the year for 2007 and won the Queen Elizabeth II Diamond Jubilee metal for his contributions to the prospecting community in Canada in 2013. His family has a long line of successful prospectors.

In MEK you have a trifecta. They have the ground, they have the management and they have money in the bank and just for fun are paired with one of the biggest gold miners in the world. This is a slam-dunk. I was buying at $.07 and the word got out and the shares went higher. I should have bought more.

Metals Creek has half a dozen other projects, none as important as Ogden but nice never the less and they continue to advance them. MEK is not a one trick pony.

Gold hit bottom on December 15th of 2016 and it was called perfectly using the DSI provided by Trade-Futures.com as the dollar index topped on the same day. We have had an incredible move higher with indexes such as the HUI up 37% in seven weeks. We are due for a correction. The bulls are rousing and I’d like to see them go back to sleep so I can scarp up more great shares cheap. Look for a sharp correction before gold and silver start their next move much higher.

Metals Creek is an advertiser. I have bought shares in the open market. You are responsible for your own due diligence.

Metals Creek Resources
MEK-V $.095 (Feb 07, 2017)
MCREF-OTCBB 44.9 million shares
Metals Creek website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd


Copyright ©2001-2017 321gold Ltd. All Rights Reserved