Category: Metallic Group

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Metallic Minerals Announces Start of Drilling at La Plata Silver-Gold-Copper Project in Southwest Colorado, USA, and Extends Warrant Expiry

VANCOUVER, BC / ACCESSWIRE / July 27, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the start of its 2022 exploration and drill campaign at the La Plata silver-gold-copper project, located in southwest Colorado. This is the Company’s second diamond core drill program at La Plata and follows the establishment of a new NI 43-101 compliant mineral resource estimate announced earlier this year (see news release dated April 26, 2022).

The initial focus of the 2022 drill program is to extend the limits of previously drill-identified mineralization in the Allard resource area, which is expected to form the basis for updated and expanded resource estimate in 2023. The Company is in the process of completing a follow-up ground-based induced polarization geophysical survey designed to support resource expansion drilling, as well as to help refine and prioritize additional copper-silver-gold porphyry targets developed from the Company’s systematic exploration and the application of new technologies on the project.

La Plata Project Highlights

  • Inaugural National Instrument 43-101 (“NI 43-101”) compliant inferred mineral resource issued April 2022 for the Allard deposit totals 889 million pounds of copper and 15 million ounces of silver in a constrained model, with 115.7 million tonnes at an average grade of 0.39% copper equivalent (“Cu Eq”) (0.35% Cu and 4.02 g/t Ag) using a 0.25% Cu Eq cut-off grade1.
  • Drilling highlights at the Allard porphyry system include 395 m grading 0.57% copper equivalent (0.51% Cu, 6.3 g/t Ag and 0.017 g/t Au) in LP-03, and 854 m at 0.26% Cu, including 254 m grading 0.41% Cu, in drill hole LP-01. Both drill holes started and ended in mineralization.
  • Exploration drilling in 2022 is designed to expand limits of known mineralization in the Allard resource area and to test newly developed targets representing potential new copper-silver-gold porphyry mineralization.

Project History

The road accessible La Plata project covers 33 km2 approximately 20 km northeast of Mancos, Colorado within the historic high-grade La Plata mining district located at the southwest end of the prolific Colorado Mineral Belt. Mineralization is related to a large-scale precious metals-rich porphyry copper system with associated high-grade silver and gold epithermal vein and replacement deposits.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522wiki_topics%2522%253A%2522La_Plata%253BColorado%253BPorphyry_copper_deposit%253BCompany%253BMancos%252C_Colorado%253BNatural_resource%253BMineral%253BExploration%253BNational_Instrument_43-101%253BBorehole%253BPhelps_Dodge%253BGold_and_Copper%253BCopper%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25226fd0f08e-c132-3ea8-ac39-5f9770e1768b%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

The La Plata district has a long and rich history of mining with the first silver deposits discovered in the 1700s by Spanish explorers. High-grade silver and gold production has been documented from the 1870s through the early 1940s from vein structures, replacement bodies and breccia zones at over 90 individual mines and prospects3. From the 1950s to 1970s, major miners including Rio Tinto (Bear Creek) and Freeport-McMoRan (Phelps Dodge) explored the district focusing on the significant potential for bulk-tonnage disseminated and stockwork hosted mineralization2. Freeport-McMoRan retained ownership of claims in the district until 2002 when they sold their holdings to the current underlying vendors during the lows of the last metal price cycle.

A total of 56 drill holes totaling 15,200 m have been drilled on the property since the 1950s which confirm the presence of large multi-phase porphyry system with significant silver, gold and copper. This large-scale mineralized system is associated with a 10 km2 strongly magnetic signature with intense hydrothermal alteration. Surrounding the central porphyry system is an associated high-grade silver and gold-rich epithermal system measuring at least 8 km by 2 km that hosts 56 identified vein, replacement, and breccia structures. Historical production from some of these high-grade structures included bonanza grades for silver and gold2.

In addition to the development of the inaugural resource estimate, exploration completed by Metallic Minerals at La Plata to date has included confirmation drilling, resampling of historic drill core and underground sampling, surface mapping, and soil sampling. The Company has also completed comprehensive geophysical surveys over the project including airborne resistivity and magnetics, ground-based induced polarization surveys, and analysis of multi-spectral remote sensing data to establish mineralized anomalies and domains for the various styles of mineralization. This work has identified 16 untested potential porphyry centers outside of the main Allard resource area, as well as developed targets with potential for significant high-grade epithermal silver and gold.

Warrant Extension

Metallic further announces that the Company has applied to the TSX Venture Exchange for approval to extend the expiry date on 9,587,500 warrants that were due to expire August 13, 2022 (the “Warrants”) to February 13, 2023. The Warrants were originally issued as part of a financing completed in August 2020 (see news release dated August 13, 2020) led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters including Red Cloud Securities Inc. and Mackie Research Capital Corporation. The warrants entitle the holder to acquire one common share at an exercise price of $0.60.

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and fourth largest in the world, announced the acquisition of Alexco in July 2022. Metallic recently announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGE-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com
Phone: 604-629-7800
Email: cackerman@mmgsilver.com
Toll Free: 1-888-570-4420

Footnotes

1) See Technical Report on the Inaugural Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Colorado, USA with an effective date of April 3, 2022. The Mineral Resource has been estimated in conformity with CIM Estimation of Mineral Resource and Mineral Reserve Best Practices Guidelines (2019) and current CIM Definition Standards – For Mineral Resources and Mineral Reserves (2014). The constrained Mineral Resources are reported at a base case cut-off grade of 0.25% CuEq, based on metal prices of $3.60/lb Cu and $22.50/oz Ag, assumed metal recoveries of 90% for Cu and 65% for Ag, a mining cost of US$5.30/t rock and processing and G&A cost of US$11.50/t mineralized material. (1) Cu Eq* calculations are based on 100% recovery of all metals using the same metal prices used for the resource calculation. All figures are rounded to reflect the relative accuracy of the estimate. The current Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, based on the current knowledge of the deposits, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

2) Eckel, USGS Prof Paper 219, Geology and Ore Deposits of the La Plata Mining District, 1949;

3) Bear Creek Mining (now Rio Tinto), Humble Oil (now Exxon) and Phelps Dodge (now Freeport-McMoRan) company reports.

Qualified Persons

The La Plata copper-silver project 2022 mineral resource estimate was prepared by Allan Armitage, P. Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of October 7, 2021. Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.

Forward-Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp.



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Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

(VIDEO) Metallic Minerals Initiates 2022 Exploration Program at Keno Silver Project in Yukon, Canada

Metallic Minerals, Proven and Probable

VANCOUVER, BC / ACCESSWIRE / July 13, 2022 / Metallic Minerals (TSXV:MMG | US OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) announces the commencement of field activities at the Company’s 100% owned, 166 square kilometer Keno Silver project, located in the historic Keno Hill silver district of Canada’s Yukon Territory. In July 2022, Hecla Mining Company (“Hecla”), the largest silver producer in the United States and third largest in the world1, announced the acquisition of neighboring Alexco Resource Corp.(“Alexco”), which holds the western portion of the district and mining and milling operations. Metallic Minerals owns the second largest land position in the prolific district covering the east, and parts of central and western Keno Hill, including eight high-grade, shallow past-producing deposits.

The 2022 exploration program is expected to consist of at least 3,000 meters of diamond core drilling, focused on resource definition drilling at multiple advanced-stage targets including Formo and Caribou deposits in the West Keno and Central Keno areas and the recently discovered Fox target area in East Keno, as well as step out drilling at several new discoveries. Detailed geophysical and soil surveys will also be conducted to aid in refinement and prioritization of reconnaissance drill targets in several untested target areas. Additionally, for the first time, the district will be flown for a LIDAR survey, which will provide greater precision in survey and topographic control while aiding in lineament detection in the search for new Keno-style high-grade silver discoveries.

Metallic Minerals President, Scott Petsel, commented: “We are excited to be initiating our 2022 field campaign at the Keno Silver project, particularly in the wake of the recently announced acquisition of our neighbors at Alexco by Hecla. This is a re-energizing catalyst for the Keno Hill silver district and highlights the quality of the existing reserves and resources and the exploration potential in one of the world’s highest grade silver producing regions that has produced over 200 million ounces of ultra-high-grade silver. We have enjoyed a close and productive working relationship with the team at Alexco and are excited to see the mining operation reach its full potential.”

Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture
Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture

“Metallic Minerals is on the cusp of transforming our own story in the Keno silver district as this year’s drill program is focused on advancing existing mineral inventories to formal NI 43-101 resources at our most advanced targets. In addition, we expect to announce commencement of field activity at our La Plata silver-gold-copper project in Colorado shortly, as well as updates with regard to planned activities on our Klondike alluvial gold royalty portfolio.”

Private Placement

Metallic has completed and closed its second non-brokered private placement financing for total proceeds raised of $4,649,820. Proceeds from the two private placements will be used toward eligible Canadian exploration expenses, within the meaning of the Income Tax Act (Canada) and for general working capital.

The second private placement consisted of the issuance of 1,471,000 units at a price of $0.42 per unit for aggregate proceeds of $617,820. Each unit consisted of one common share and one-half purchase warrant where each whole warrant is exercisable into a common share for 30 months at a price of $0.50. A total of 846,000 units were sold on a flow-through basis with the common share comprising the units being issued as a flow-through common share.

The common shares comprising the units are subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law. The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

An officer of the company participated in the private placement for a total of 25,000 units. The participation by the insider in the private placement is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued, nor the consideration being paid exceeds 25% of the Company’s market capitalization.

About the Keno Silver Project

Keno Hill is one of the world’s highest-grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past production and current M&I resources1,2 and featuring excellent existing infrastructure, including grid power, road access and nearby community services. In July 2022, Hecla announced the acquisition of Alexco Resource Corp, which holds the western portion of the district and mining and milling operations. Metallic Minerals’ Keno Silver project is adjacent and contiguous, covering the east, and parts of the central and western Keno silver district and includes eight high-grade, shallow past-producing mines. Prior to the Company’s consolidation of the land package, very little modern exploration had been completed in these parts of the district due to fragmented, private land ownership. Metallic Minerals has advanced three targets in the district from discovery to expansion drilling with several additional targets at drill-ready status along the known historically productive trends. In addition, recent exploration has defined and expanded 12 new priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.

Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture
Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture

2022 Drilling at Fox Target at East Keno

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and fourth largest in the world, announced the acquisition of Alexco in July 2022. Metallic recently announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGE-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com
Email: cackerman@mmgsilver.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420

  1. See Hecla news release dated July 5, 2022, entitled, “Hecla Acquires Alexco Resource” and Hecla Mining website disclosure: https://www.hecla.com/investors/why-hecla

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp.

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Base Metals Energy Exclusive Interviews Junior Mining Metallic Group Metallic Minerals Precious Metals

(VIDEO) Metallic Minerals – Significant Acquisition in the Keno Hill Mining District

Metallic Minerals, Proven and Probable

WELCOME TO METALLIC MINERALS
Metallic Minerals Corp. (TSX-V: MMG / US OTC: MMNGF) is a growth stage exploration company focused on the acquisition and development of high-grade silver and gold projects within underexplored districts proven to produce top-tier assets. Our objective is to create value through a disciplined, systematic approach to exploration, reducing investment risk and maximizing probability of long-term success. Our core Keno Silver Project is located in the historic Keno Hill Silver District of Canada’s Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world’s highest-grade silver resources. The Company’s La Plata silver-gold-copper project is located in the high-grade La Plata district of the prolific Colorado Mineral Belt and our McKay Hill project northeast of Keno Hill is a high-grade historic silver-gold producer. Metallic Minerals is also building a portfolio of gold royalties in the historic Klondike Gold District. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.

Metallic Minerals is a partner and we are long-term shareholders.

Please share this interview:

The Metallic Group of Companies Website: https://www.metallicgroup.ca/

Investor Relations:
Chris Ackerman
Senior Manager – Corporate Communications & IR
Email: chris.ackerman@mmgsilver.com

Phone: 604-629-7800 ext. 1
Toll Free: 1-888-570-4420

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Base Metals Energy Junior Mining Metallic Group Stillwater Critical Minerals Uncategorized

Stillwater Critical Minerals Reports Wide and High-Grade Intervals of Platreef-Style Mineralization in Resource Expansion Drilling in the HGR Deposit Area at Stillwater West Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / July 7, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) today reports wide, high-grade intervals of nickel sulphide mineralization with palladium, platinum, rhodium, cobalt, copper and gold in a final tranche of first-pass drill results from the 14-hole resource expansion campaign completed at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA. Additional rhodium results are pending.

Results continue to support the Company’s priority objective of expanding the October 2021 inaugural mineral resource estimates with multiple wide and highly mineralized intervals returned in step-out drilling in six holes at the HGR deposit area at Iron Mountain (see Table 1 and Figure 1). Drilling in 2021 focused on resource expansion in three of the five deposit areas delineated by the 2021 estimates. Similar wide and well-mineralized intervals have now been reported from all three deposit areas as announced December 20, 2021, March 7, 2022, and May 3, 2022. Mineralization remains open to expansion along trend and at depth in all five deposit areas, which are set within 12 kilometers of the broader 32-kilometer-long land package in the lower Stillwater Igneous Complex (see Figure 2).

Highlights from six holes drilled in the HGR deposit area in 2021 include:

  • IM2021-05 returned379.2 meters of continuous battery and precious metal mineralization starting at surface and grading 0.33% Nickel Equivalent (“NiEq”), equal to 0.88 g/t Palladium Equivalent (“PdEq”), with successive contained higher-grade intervals including:
    • 133.2 meters of 0.38% NiEq (1.01 g/t PdEq);
    • 21.5 meters of 0.66% NiEq (1.75 g/t PdEq); and
    • 7.3 meters of 0.79% NiEq (2.11 g/t PdEq) as 0.45% Ni, 0.51 g/t Pd+Pt+Au+Rh (“4E”), 0.17% Cu and 0.026% Co .

IM2021-05 is the second most highly mineralized drill hole ever recorded in the Stillwater district with a grade-thickness value of 334 gram-meter PdEq, after CM2021-01 which returned 530 gram-meter PdEq.

  • IM2021-06 returned 94.0 meters of 0.48% NiEq (1.28 g/t PdEq) within333.0 meters of continuous mineralization grading 0.28% NiEq (0.73 g/t PdEq). Additional contained intervals at higher grades include 26.4 meters of 0.63% NiEq (1.69 g/t PdEq) and 4.8 meters of 1.38 g/t 4E which includes 0.077 g/t Rh .
  • IM2021-04 , partially reported on March 7, 2022, returned 115.0 meters of 0.38% NiEq (1.02 g/t PdEq) within 306.5 meters of continuous mineralization grading 0.26% NiEq (0.68g/t PdEq). Additional contained intervals at higher grades include:
    • 9.8 meters of high-grade PGE mineralization with 0.89% NiEq (2.38 g/t PdEq) as 1.54 g/t 4E including 1.02 g/t Pd, 0.39 g/t Pt, and 0.064 g/t Rh, along with base metal mineralization; and
    • 4.8 meters of high-grade battery metal mineralization with 1.47% NiEq (3.91 g/t PdEq) as 0.74% Ni, 0.65% Cu, 0.070% Co, plus 0.30 g/t 4E including 0.055 g/t Rh (see photo below).
  • Drilling in the HGR deposit area in 2021 focused on step-out holes in the area of IM-2019-03 which returned 272.5 meters of 0.42% NiEq (1.11 g/t PdEq) including 26.8 meters of 0.96% NiEq (2.55 g/t PdEq) as 0.34% Ni, 0.15% Cu, 0.019% Co, 0.33 g/t Pt, 0.77 g/t Pd, 0.08 g/t Au, and 0.049 g/t Rh (see Figures 1 to 4).
  • These results, alongside results released May 3 and March 7, 2022, and December 20, 2021, demonstrate significant potential to expand the October 2021 mineral resource estimates with multiple long intervals at grades well above the 0.20% NiEq cut-off grade used in that study (see bolded assay values on Table 1). Potential is also shown to expand existing resources at higher cut-off grades, such as 0.35% and 0.50% NiEq (red values and shaded rows, respectively, on Table 1). Moreover, as shown in Figures 1 to 4, these results provide important intercepts in step-out drill holes located up to several hundred meters from the resource estimate block models.
  • Results also continue to highlight the potential for significant co-product rhodium values at Stillwater West, with drill samples in Iron Mountain holes IM2021-04, -05, and -06 returning up to 0.365 g/t Rh within the mineralized horizons. At recent values, rhodium trades at more than 16 times the value of platinum and seven times the value of palladium on a spot price basis at over US$14,000 per ounce. Sibanye-Stillwater, adjacent to Stillwater Critical Minerals’ Stillwater West project, is the primary US producer. Supply constraints for rhodium have supported rising prices since 2017.
  • Complete first-pass assay results have now been reported from all 14 holes drilled in 2021. Additional rhodium assays are pending on mineralized intervals.
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture

Dr. Danie Grobler, Stillwater Critical Minerals’ Vice-President of Exploration, commented “Stillwater West continues to demonstrate significant equivalence with the Platreef deposits of the northern Bushveld Complex. Albie Brits and I are actively applying our combined four decades of Platreef experience in our new roles at Stillwater Critical Minerals with a priority on updating the geologic model to support planning and refining of drill targets for the next phase of follow-on work. Our current focus is to define detailed stratigraphic and structural controls within the 2021 Inferred Resource areas. We are also in the process of reviewing and prioritizing higher-grade pegmatoidal pyroxenite targets within the Stillwater stratigraphy that have not been fully tested.”

Michael Rowley, President and CEO, commented, “Results from the Iron Mountain drill campaign continue to demonstrate the remarkable potential for expansion of our inaugural mineral resource with multiple wide intercepts of battery and precious metals and contained intervals at successive higher grades. In particular our success in targeting Platreef-style nickel sulphide mineralization in step-out holes in the area of IM2019-03 shows excellent potential for resource growth, similar to our success in the DR and Hybrid deposit areas over seven kilometers to the west. We continue to see confirmation of a large mineralized system with an impressive endowment of eight of the commodities listed as critical by the US government. We look forward to further updates on our planned resource expansion, exploration priorities for 2022, and other news in the near term.”

Table 1 – Highlight Results from the 2021 Expansion Drill Campaign at the HGR Deposit Area

Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture

Highlighted significant mineralized intercepts are presented above. Grade-thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using long term metal prices (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.

About Stillwater West

Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA 1 . The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex 2 . Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected in 2022.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.

Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Phone: (604) 357 4790
Toll Free: (888) 432 0075
Email: info@criticalminerals.com
Web: http://criticalminerals.com

Quality Control and Quality Assurance

2021 drill core samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture

SOURCE: Stillwater Critical Minerals

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Base Metals Breaking Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Announces Filing NI 43-101 Technical Report for the Inaugural Mineral Resource Estimate on the La Plata Project in Southwestern Colorado, USA

VANCOUVER, BC / ACCESSWIRE / June 13, 2022 / Metallic Minerals (TSX.V:MMG | US OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to report that, further to its news release dated April 26, 2022, it has filed on SEDAR a National Instrument 43-101 technical report, entitled, “Technical Report on the Inaugural Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project Southwestern Colorado USA”, has an effective date of April 3rd, 2022.

Scott Petsel, President of Metallic Minerals, stated, “The inaugural resource, which defined 889 million pounds of copper and 15 million ounces of silver (Inferred) at the Allard Cu-Ag Porphyry deposit, was a major milestone for the Company. The project team is currently working to finalize the next phases of exploration to include additional ground and airborne geophysical surveys, resource expansion drilling and the testing of newly identified targets representing both potential porphyry centers and high-grade silver-gold-telluride epithermal targets. We look forward to meeting with existing and potential shareholders this week during PDAC 2022 in Toronto June 13-15, as well as during the Yukon Mining Alliance Property Tours and Conference June 20-24 in Dawson City to discuss the exciting potential we see for both our flagship projects.”

The Technical Report was authored by Allan Armitage, Ph.D., P.Geo. of SGS Geologic Services (“SGS”) an independent Qualified Person and was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. The report is available under the Company’s profile at www.sedar.com and will also be available on the Company’s website at www.mmgsilver.com.

About SGS Geological Services

SGS Geological Services has an experienced and respected mining team focused on the domestic and international mining industry. The team has considerable experience in estimation and modeling of deposits of all types and practical and theoretical experience having realized hundreds of assessments for clients. The SGS team consists of a multi-disciplinary group of qualified persons with a strong understanding of the disclosure requirements for Mineral Resources set out in the NI 43-101 Standards of Disclosure for Mineral Projects (2016), CIM Definition Standards – For Mineral Resources and Mineral Reserves (2014) and a strong understanding of the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines 2019.

Upcoming Events

PDAC 2022 – Metallic will join fellow Metallic Group members Stillwater Critical Minerals (formerly Group Ten Metals) and Granite Creek Copper in Booth 2851 at the Prospectors and Developers Association Convention in Toronto, ON from June 13-15.

Yukon Property Tours & Conference – Metallic will be in Dawson City June 20-24 for the 2022 Yukon Property Tours, with President, Scott Petsel, and CEO, Greg Johnson, both visiting the Keno Silver Project for exploration planning.

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. In addition, the Company recently announced the inaugural resource estimate for the La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: mmgsilver.com Phone: 604-629-7800
Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp.

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Metallic Minerals Closes $4 Million Private Placement Financing

VANCOUVER, BC / ACCESSWIRE / June 9, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to report that it has closed its previously announced non-brokered private placement financing for aggregate proceeds of $4,032,000 through the issuance of 9,600,000 units at a price of $0.42 per flow-through unit (the “Private Placement”). Each Unit consists of one flow-through common share and one-half purchase warrant where each whole warrant is exercisable into a flow-through common share for 30 months at a price of $0.50 on the TSX Venture Exchange (“TSX-V”).

Greg Johnson, CEO and Chairman, noted, “We are pleased to complete this premium-to-market Private Placement and to strengthen our shareholder base with new institutional investors. These new funds will be primarily directed toward the ongoing exploration and development of our Keno Silver Project in the high-grade, Keno silver district of Canada’s Yukon Territory. Final planning is underway for the initiation of our 2022 exploration programs at Keno Silver, as well as at our La Plata silver-gold-copper project in Colorado, USA. We look forward to meeting with existing and potential shareholders during PDAC 2022 in Toronto June 13-15, as well as during the Yukon Property Tours and Conference June 20-24 in Dawson City.”

Proceeds from the Private Placement will be used toward eligible Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada). The Private Placement is subject to the final approval of the TSX-V. The flow-through shares will be subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law.

The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

An officer of the Company participated in the private placement for an aggregate of 4,400 FT Units. The participation by the insider in the private placement is considered to be a related-party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued, nor the consideration being paid exceeds 25% of the Company’s market capitalization.

Upcoming Events

PDAC 2022 – Metallic will join fellow Metallic Group members, Stillwater Critical Minerals (formerly Group Ten Metals) and Granite Creek Copper, at PDAC in Toronto, June 13-15 (Booth IE2851).

Yukon Property Tours & Conference – Metallic will be in Dawson City June 20-24 for the 2022 Yukon Property Tours, with President, Scott Petsel, and CEO, Greg Johnson, both visiting the Keno Silver Project for exploration planning.

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. In addition, the Company recently announced the inaugural resource estimate for the La Plata silver-gold-copper project in southwestern Colorado. All of the districts in which the Company works have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals (formerly Group Ten Metals) in the Stillwater PGM-nickel-copper district of Montana, USA and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: mmgsilver.com
Phone: 604-629-7800
Email: cackerman@mmgsilver.com
Toll Free: 1-888-570-4420

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp.

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Couloir Capital is Pleased to Announce It Has Published a New Research Note on Metallic Minerals Corp

Vancouver, British Columbia–(Newsfile Corp. – June 7, 2022) – Couloir Capital is pleased to announce it has published a new research note on Metallic Minerals Corp. (TSXV: MMG) (OTCQB : MMNGF) (“MMG” or “Company”). The update report is titled, “Inaugural Copper Resource for La Plata, Strong Drilling Results at Keno Silver.”

Report excerpt: “MMG has significantly advanced its core properties Keno Silver and La Plata, with key developments including:

  • Announcement of a maiden resource for the La Plata Project located in Colorado, as well as final results from the drilling campaign completed in December 2021.
  • Announcement of further results from the 2021 field program at Keno Silver, specifically for East Keno and Formo.

The developments, especially the inaugural resource estimate for La Plata, are catalytic events that fundamentally change aspects of our valuation thesis for MMG. With the discovery of pounds in the ground, we are able to apply a valuation of MMG that incorporates the intrinsic value of a more material asset base, reducing the risk associated with a valuation based primarily on less tangible metrics. With a resource discovery and a private placement underway, we believe MMG will look to build on recent strength and maintain momentum going into the rest of 2022.”

The report can be accessed through Couloir Capital’s portal: https://www.couloircapital.com/research-portal

About Metallic Minerals Corp.

Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver and gold projects in underexplored, brownfields mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with nearly 300 million ounces of high-grade silver in past production and current M&I resources. In addition, exploration at the recently acquired La Plata silver-gold-copper project in southwestern Colorado is targeting a silver and gold-enriched copper porphyry and adjacent high-grade silver and gold epithermal systems. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About Couloir Capital Ltd.

Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies.

For further information, please contact:

Rob Stitt, Managing Director, Couloir Capital Ltd.

Email: rstitt@couloircapital.com

www.couloircapital.com

Disclosure: Couloir Capital and/or affiliated companies holds shares or warrants in the Company. The warrants have an exercise price of $0.60 and expire in August 2022.

A service agreement exists between Couloir Capital and the Company.

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Metallic Minerals | High-Grade Silver, Keno Style Intercepts

Metallic Minerals: TSX.V: MMG | OTC: MMNGF)

Website: https://metallic-minerals.com/

Corporate Presentation: https://metallic-minerals.com/investors/presentations/

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Metallic Minerals Drills 4.6 Meters of 983 g/t Silver Equivalent at the Keno Silver Project in Yukon, Canada

VANCOUVER, BC / ACCESSWIRE / May 26, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to report the final set of assay results from its 2021 drilling completed at the Company’s 100%-owned, 166-square-kilometer Keno Silver Project located within the historic, high-grade Keno Hill silver district in Canada’s Yukon Territory. These drill tests were targeted at extending high-grade silver-gold-lead-zinc mineralization at the Formo deposit in the West Keno target area, one of several advanced stage targets moving toward an initial NI 43-101 mineral resource estimate for the Keno Silver project.

Highlights

  • Drilling in 2021 and 2020 by Metallic Minerals at the Formo deposit intercepted both high-grade Keno-style Ag-Au-Pb-Zn veins and broader zones of potentially bulk mineable mineralization.
  • FOR21-05 returned three intervals at over 1,000 g/t silver equivalent (“Ag Eq”) from 92.7 m to 115.5 m for a total of 22.8 m grading 219.5 g/t Ag Eq including 0.5 m of 1,657.8 g/t Ag Eq with up to 17 g/t Au, 0.7 m of 1,408.8 g/t Ag Eq and 0.5 m of 1,649.9 g/t Ag Eq.
  • FOR21-06 intercepted multiple zones of mineralization with 4.6 m of 938.3 g/t Ag Eq including 3,229.9 g/t Ag Eq over 1.0 m within a broader zone of 11.4 m grading 413.7 g/t Ag Eq.

The Formo target area hosts multiple parallel vein structures and mineralized zones within a broader structural envelope that remains open to expansion and shows excellent opportunities for resource delineation. Results from 2021 drilling intercepted extremely high grades, including FOR21-05 returning three intervals over 1,000 g/t silver Ag Eq and FOR21-06 with 3,229.9 g/t Ag Eq over 1.0 m within an interval of 4.6 m of 938.3 g/t Ag Eq (see Table 1 below). Both zones were encountered at shallow depths of less than 150 m down hole and these intersections extend high-grade silver mineralization below the 2020 drilling and the historically productive Formo mine. Geophysical and geochemical surveys, enhanced by the 2021 fieldwork, demonstrate significant resource potential opportunities in the Formo target area.

The Formo vein structure lies at the intersection of a north-easterly extension of the Bermingham-Calumet and the Elsa vein system, which are hosts to the some of the largest historic producing mines and current resources and reserves in the Keno Hill silver district (see Figure 1). The Formo Target remains open for expansion along trend and down dip and has several untested surface targets.

Metallic Minerals President, Scott Petsel, stated, “These exciting results from this most recent follow-up drilling program at the Formo target area in the western Keno Hill District, combined with the exceptional 2020 drill results, demonstrate the potential to delineate significant, high-grade resources at the Keno Silver project. Our team has done remarkable work to build on our understanding of the geology and the important controls to mineralization in the highly productive Keno Hill silver district.”

“As we prepare to embark on our upcoming exploration campaign, we recognize the importance of moving toward the definition of an inaugural resource estimates at Keno Silver, with Formo and Caribou being the two most advanced in that regard. We are also very focused on and enthusiastic about conducting robust follow-up work on our recent discoveries of both high-grade silver veins and bulk mineable mineralization in the East Keno area. We expect to provide updates with respect to planned programs at both Keno Silver and the La Plata project in Colorado over the coming weeks and look forward to meeting with investors during the upcoming Prospectors and Developers Conference in Toronto in mid-June.”

Upcoming Events

PDAC 2022 – Metallic will join fellow Metallic Group members at PDAC in Toronto, May 13-15 (Booth IE2851).

Yukon Property Tours & Conference – Metallic will be in Dawson City June 20-24 for the 2022 Yukon Property Tours

Figure 1. Keno Silver Project

Metallic Minerals Corp., Wednesday, May 25, 2022, Press release picture
Metallic Minerals Corp., Wednesday, May 25, 2022, Press release picture

West Keno Exploration Program and Formo Target

The Western Keno Hill district is host to the largest historic production and current resources in the prolific Keno Hill silver district. The Formo target is located at the intersection of a north-easterly structural zone extending from the Hector-Calumet mine, which was the largest producer in the district producing nearly 100 million ounces of silver and the Elsa structural trend, which was the second largest silver producer in the district (see Figure 2). The historic Formo mine produced silver at various times since the 1930s from high-grade vein structures that graded an average of over 5,000 g/t silver1. The majority of this historic production came from an open pit located alongside of the Silver Trail highway between the Elsa townsite and Keno City.

Metallic Minerals’ exploration efforts at the Formo target area have integrated recent drilling with surface and underground sampling into a 3D geologic model, along with multi-spectral studies and geophysical surveys covering the area (see Figure 3). In addition to the mineralization at the known Formo deposit, two new surface targets have been identified through surface soil and rock sampling along the same structural corridors that show potential to host high-grade and bulk tonnage Keno-style Ag-Au-Pb-Zn. The opportunity to significantly expand the known mineralization defined from underground sampling and surface drilling, as well as the potential to define new high-grade deposits along the main mineralized structural corridor, positions Formo as a top priority target for near-term resource definition at the Keno Silver project.

Table 1 – Significant Drill Results from 2020-2021 at the Formo Target Area

DDH Hole IDFrom (m)To (m)Width (m)Ag Eq (g/t)Ag (g/t)Au (g/t)Pb (%)Zn (%)
FOR21-0592.7115.522.8219.5690.40.302.07
94.695.10.51,657.82517.00.010.44
98.81089.2430.51640.10.694.85
102.4103.10.71,408.83610.02.1720.09
107107.50.51,649.94210.11.5324.20
FOR21-0696971.0221.81550.00.451.03
111.612311.4413.72340.01.972.07
114.41194.6938.35280.14.484.82
1161171.03,229.91,9780.413.0914.97
121.21231.8202.81280.01.000.76
FOR-20-00150.9576.1284.52180.00.31.14
including50.953.953.05447.53690.00.111.52
FOR-20-00249.4552.32.8548220.00.180.39
FOR-20-00396100.14.12,536.01,1650.021.7411.32
including96993.03,425.91,5680.029.4515.35
FOR-20-00489.895.96.1367.62250.02.041.35
including91.893.71.9698.44540.03.482.32
including93.293.70.51,083.66010.07.334.25
FOR-20-005104.76105.450.69365.01460.01.323.52
152.17152.670.585.560.40.010.76
FOR-20-006137.63139.782.15740.63320.03.066.04
including139.13139.780.652,255.91,0010.18.9218.92
FOR-20-00798.198.650.5577120.00.121.2
107.65108.150.586.1460.20.240.34
125.55126.050.575.510.201.23
FOR-20-008116.45116.950.5289.21780.12.20.42
including168.6169.61.079.2570.00.250.25
FOR-20-00969.770.140.4467.4150.00.210.91
113.2113.70.5211.6260.40.063
FOR-20-01155.359.74.475.630.00.050.04
including57.758.60.9307.71950.02.790.1

Silver equivalent (Ag Eq) values assume Ag $19/oz, Pb $1.05/lb, Zn $1.30/lb, Au $1,800/oz and 100% metallurgical recovery. Sample intervals are based on measured drill intersect lengths and are believed to be representative of true widths.

Figure 2 – West Keno Plan Map

Metallic Minerals Corp., Wednesday, May 25, 2022, Press release picture
Metallic Minerals Corp., Wednesday, May 25, 2022, Press release picture

Figure 3 – Formo Vein Long Section (Looking NW)

Metallic Minerals Corp., Wednesday, May 25, 2022, Press release picture
Metallic Minerals Corp., Wednesday, May 25, 2022, Press release picture

About Metallic Minerals

Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver and gold projects in underexplored, brownfields mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with nearly 300 million ounces of high-grade silver in past production and current M&I resources. In addition, exploration at the recently acquired La Plata silver-gold-copper project in southwestern Colorado is targeting a silver and gold-enriched copper porphyry and adjacent high-grade silver and gold epithermal systems. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: mmgsilver.com
Email: cackerman@mmgsilver.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420

Qualified Person

The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals’ mineral properties has been reviewed and approved by Scott Petsel, P.Geo., President, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Assurance / Quality Control

All samples were assayed by 36 Element Aqua Regia Digestion ICP-MS methods at Bureau Veritas labs in Vancouver. with sample preparation in Whitehorse, Yukon and geochemical analysis in Vancouver, British Columbia. Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish. Over-limit lead and zinc samples were analyzed by multi-acid digestion and atomic absorption spectrometry. All results have passed the QAQC screening by the lab and the company utilized a quality control and quality assurance protocol for the project, including blank, duplicate, and standard reference samples.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp.