Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Metals Creek Resources (TSXV: MEK) today announced that the company has begun diamond drilling on 10 patented mining claims on the Garrison project northeast of Kirkland Lake, Ontario.
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 5 holes targeting several induced polarization (IP) anomalies outlined in the company’s geophysical program this month. One of these IP anomalies is co-incident 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 LOI. The vendors will retain a 2% NSR which the Company can purchase 1% for $1 million.
The company’s stock jumped 12% Wednesday, following the announcement.
