Metals Creek inks option for Dona Lake Mine from Newmont Goldcorp, stock jumps
Metals Creek Resources’ (TSXV: MEK) stock was up over 11% Wednesday mid-day, after the miner announced it signed an option agreement with Newmont Goldcorp to earn a 100% interest in Goldcorp’s Dona Lake mine property in the Pickle Lake mining district in Northwestern Ontario.
The Dona Lake mine property is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine.
The Property consists of 32 patented and leased mining claims totaling approximately 430 hectares and covers the past producing Dona Lake mine. The Dona Lake Mine, an underground operation from 1989 to 1994 produced 246,500 ounces of gold at a grade of 7.44 grams per tonne, according to historical gold prices data.
Wednesday afternoon IIROC issued a temporary trading halt after volume reached 1.39 million, over 15 times Metal Creek’s daily average of 90,000. The company has a C$3.1 million market capitlalization.