- The Yellow Fox property has expanded with 30 new claims, increasing to a total of 1,446 hectares.
- Historic samples indicate high mineralization with up to 59.43g/t gold (Au), 11.10% antimony (Sb), and 72.90g/t silver (Ag).
- Lomiko Metals (LMR) plans a two-phase exploration program, starting with 700 soil samples collection.
Metals Creek Resources (MEK) has announced an expansion of the Yellow Fox antimony, silver, and gold property, located near Glenwood, Newfoundland and Labrador. Option partner Lomiko Metals (LMR) has added 30 new claims covering 748 hectares, bringing the total to 58 claims over 1,446 hectares.
Historical grab samples from the property have shown significant mineralization, with up to 59.43 grams per ton (g/t) of gold, 11.10% of antimony, 7.00% of zinc (Zn), 72.90 g/t of silver, and 5.50% of lead (Pb). These results highlight the potential of the Yellow Fox property, which shares geological characteristics with the nearby Beaver Brook antimony mine.
Lomiko has outlined a comprehensive two-phase exploration program for Yellow Fox. Phase 1 involves collecting 700 soil samples across 10 lines at 250-meter spacing to identify and verify high-grade targets. Based on the success of this initial phase, Phase 2 will expand sampling efforts, potentially including an electromagnetic survey to further delineate prospective zones.
As per the definitive agreement, Lomiko has the option to acquire a 100% interest in the property by making cash payments totaling $64,750 and share payments valued at $328,375, while Metals Creek will retain a 2% net smelter return (NSR).
