- Metals Creek Resources (MEK) and Quadro Resources Ltd (QRO) have amended the letter of intent for the Yellow Fox/Careless Cove claims
- Instead of the second-anniversary cash payment of $20,000, Quadro will issue to Metals Creek an additional 500,000 of its common shares
- Metals Creek has also agreed to give Quadro the option to earn a 100-per-cent interest in the 40 claim units
- Metals Creek Resources Corp. (MEK) is up 7.69 per cent trading at $0.07 per share as of 2:45 p.m. ET
- Quadro Resources Ltd (QRO) is unchanged trading at $0.02 per share as of 2:50 p.m. ET
Metals Creek Resources (MEK) and Quadro Resources Ltd (QRO) have amended the letter of intent for the Yellow Fox/Careless Cove claims.
As part of the amended agreement, Quadro will issue an additional 500,000 of its common shares to Metals Creek for a total of 900,000 instead of the second-anniversary cash payment of $20,000.
Metals Creek has also agreed to give Quadro the option to earn a 100 per cent interest in the 40 claim units. The Careless Cove properties are adjacent to another company’s claim which has seen promising early results. Exploration and drilling for the claims have been planned to kick off this winter.
According to Metals Creek, the Careless Cove and Yellow Fox properties are located southwest of Glenwood in east-central Newfoundland. Previous work on the two claim blocks that comprise the properties resulted in the discovery of gold mineralization up to 11.38 grams per tonne gold and 59.413 grams per tonne gold.
Metals Creek is a junior exploration company with multiple projects throughout Ontario, Alberta, and British Columbia.
Metals Creek Resources Corp. (MEK) is up 7.69 per cent and is trading at $0.07 per share as of 2:45 p.m. ET.
Quadro Resources Ltd (QRO) is unchanged trading at $0.02 per share as of 2:50 p.m. ET.
