VANCOUVER, BC / ACCESSWIRE / May 4, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the creation of a dedicated Community & First Nations Relations team for the Metallic Group of Companies and the appointment of Lindsay Wilson to the role of Manager, Community and Investor Relations. Ms. Wilson will be working alongside Lauren Blackburn, the Company’s Yukon-based Regulatory & Permitting Manager, in further strengthening our relationships with First Nations, local communities and governments.
The Metallic Group is well established in the Yukon with multiple projects under development by member companies. The Group employs dedicated personnel in Whitehorse, who are long-time residents of the Yukon and, as such, have an affinity for and understanding of its people, its history and its robust mineral endowment. Ms. Blackburn has been with Metallic Minerals and the Metallic Group since its founding and has taken a leading role in the Company’s community, permitting and regulatory initiatives. The addition of Ms. Wilson greatly increases our capacity to build meaningful and long-lasting and mutually beneficial partnerships in keeping with our strong commitment to environmental, social, and governance (“ESG”) aspects of the resource sector. The Metallic Group is committed to applying best industry practices to exploration and to make positive contributions in the Territory and the specific communities in which we work.
Lauren Blackburn – Manager, Regulatory and Permitting
Ms. Blackburn has over 15 years of Yukon-based experience in the mineral exploration sector focused on the exploration and development of early to advanced-stage silver, gold, and base metal deposits. Her primary concentration has been in northern Canada where she has garnered a dynamic skill set that includes expertise in the exploration process, permitting, lands management, regulatory lobbying, land-use planning and community engagement. Ms. Blackburn is highly involved in Territorial legislation and policy review, permitting activities and assists in evaluation of potential project acquisitions and strategic development.
Lindsay Wilson – Manager, Community & Investor Relations
A member of the Snuneymuxw First Nation on Vancouver Island, Ms. Wilson is focused on incorporating traditional ways of being into her work within the resource sector and seeking to develop sustainable and credible partnerships within the communities that she works. Ms. Wilson has a comprehensive background in indigenous studies and public relations, alongside practical experience in the mineral resource sector. Having worked previously in the Yukon with the Yukon Mining Alliance, Ms. Wilson is excited about the opportunity to return to work in the Yukon and looking forward to reconnecting with the communities there.
Arctic Indigenous Investment Conference (AIIC)
The Metallic Group Community and First Nations Team will be attending the AIIC on May 4th & 5th in Whitehorse, Yukon.
Connecting globally – through a hybrid (in-person & virtual) experience – AIIC 2022 will highlight and promote indigenous development corporations and businesses in the northern economy, alongside the north’s business community and colleagues across sectors. The goals of AIIC 2022 are to support economic reconciliation and growth, and youth entrepreneurship by forging new and stronger relationships, advancing meaningful partnerships, and connecting people across the arctic. Indigenous development corporations and businesses play a key role across northern Canada. These efforts are supported when we stand together with a collaborative voice for business, northern investment and our citizens, to ensure a diverse and prosperous economy, community and future.
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 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.
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.
VANCOUVER, BC / ACCESSWIRE / May 3, 2022 / Group Ten Metals Inc. (TSX.V:PGE; OTCQB: PGEZF; FSE:5D32) (the “Company” or “Group Ten”) today reports wide, high-grade intervals of nickel sulphide with palladium, platinum, rhodium, cobalt, copper and gold in a third tranche of 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.
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 the DR-Hybrid deposit area at Chrome 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, and March 7, 2022. Mineralization remains open to expansion along trend and at depth in all five deposit areas, that are in the 12-kilometer-long resource area within the broader 32-kilometer-long land package in the lower Stillwater Igneous Complex (see Figure 2).
Group Ten Metals Inc. , Tuesday, May 3, 2022, Press release picture
Live Webinar with Q&A
Group Ten President & CEO, Michael Rowley, will be joined by newly appointed Vice-President Exploration, Danie Grobler, for a live webinar on Wednesday, May 4th at 10am PT (1pm ET). To register click here or the thumbnail.
Highlights:
CM2021-05 returned 400.8 meters of continuous battery and precious metal mineralization grading 0.30% Nickel Equivalent (“NiEq”), equal to 0.80 g/t Palladium Equivalent (“PdEq”), with successive contained higher-grade intervals including 96 meters of 0.60% NiEq (1.56 g/t PdEq) and including 13.2 meters of 3.33% NiEq (8.88 g/t PdEq) as 2.31% Ni, 1.51 g/t Pd+Pt+Au+Rh (“4E”), 0.35% Cu and 0.115% Co starting at 37.6 meters. This is one of the widest high-grade intercepts ever recorded in the Stillwater district.
The results from CM2021-05 represent an important new discovery with the same distinctive signature of high-grade nickel sulphide, platinum group metals and gold as encountered in CM2020-04, which returned 8.5 meters of 1.74% NiEq (or 4.65 g/t PdEq) within a broad mineralized package located approximately 125 meters to the west. This zone remains open to further expansion with additional drilling.
CM2021-06 returned 0.26% NiEq (0.71 g/t PdEq) over 345.0 meters, including 75.4 meters of 0.37% NiEq, or 0.99 g/t PdEq, and a second, lower interval with 148.4 meters of 0.30% NiEq, or 0.79 g/t PdEq.
CM2021-04 returned 247.2 meters of 0.21% NiEq (0.57 g/t PdEq) mineralization including two long intervals at higher grades.
Results also continue to highlight the potential for significant co-product rhodium values at Stillwater West, with drill samples in Chrome Mountain holes CM2021-04, -05, and -06 up to 0.36 g/t Rh within the mineralized horizons. At recent values, rhodium trades at more than 16 times the value of platinum and 8 times the value of palladium on a spot price basis at over USD 16,000 per ounce. Sibanye-Stillwater, adjacent to Group Ten’s Stillwater West project, is the primary US producer. Supply constraints for rhodium have supported rising prices since 2017.
Assay results remain pending from five holes in the HGR deposit area at Iron Mountain and portions of holes CZ2021-01 and IM2021-04, in addition to rhodium assay results on a number of mineralized intervals reported to date.
These results, in addition to results released 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.
Dr. Danie Grobler, Group Ten’s Vice-President of Exploration, commented “I am excited to extend my experience obtained over the past two decades at the Platreef in the northern Bushveld Complex to Group Ten’s Stillwater West project. We see significant comparability with Platreef-style mineralization in the lower Stillwater Complex and in particular, early evidence of higher-grade Flatreef pegmatoidal-style mineralization targets within the project’s layered magmatic stratigraphy.”
Michael Rowley, President and CEO, commented, “The high-grade intercept in hole CM2021-05 is the latest in a series of exciting discoveries made by our team in the lower Stillwater complex through the development of a new predictive geologic model for this famously metal-rich district. This notable intercept demonstrates the same high tenor nickel sulphide mineralization as a similar interval in CM2020-04, 125 meters away, and is in an area that is completely outside of the current resource block model. It also represents one of the widest high-grade battery and precious metal intercepts to date in the Stillwater district. Further step-outs on this new target, situated between the existing DR and Hybrid deposit areas, are a priority for the coming season. Overall, 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 reporting additional remaining drill results from the 2021 Iron Mountain drilling, exploration plans for 2022, and other news in the near term.”
Table 1 – Highlight Results from the 2021 Expansion Drill Campaign at the DR and Hybrid Deposit Areas
Group Ten Metals Inc. , Tuesday, May 3, 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.
Upcoming News and Events
Geological Survey of Nevada Symposium
Dr. Craig Bow will present recent findings in a technical session at the GSN Symposium May 4th in Reno, Nevada.
OTC Markets Metals and Mining Conference Virtual Conference
Michael Rowley will present on Thursday, May 5 at 10:30am PT (1:30PM ET). To register, click here.
Vancouver Resource Investment Conference
Group Ten will join fellow Metallic Group company members in Booth 111 at the 2022 VRIC event.
About Stillwater West
Group Ten 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 Group Ten 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, USA1. 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. Group Ten’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 Complex2. 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 Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten 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 Group Ten Metals 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.
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 Group Ten 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.
VANCOUVER, BC / ACCESSWIRE / April 26, 2022 / Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, , or the “Company“) is pleased to announce the first National Instrument 43-101 (“NI 43-101”) mineral resource estimate (the “2022 Resource Estimate”) on the Company’s La Plata project, which focuses on the central Allard copper-silver porphyry deposit. The Company acquired the project in 2019 and with confirmatory drilling and sampling has quickly generated a NI 43-101 compliant resource estimate consisting of 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 grade.
The Allard deposit remains open to significant expansion within the resource area. In addition, the greater La Plata silver-gold-copper project remains underexplored and open to new discoveries of both additional copper porphyry centers as well as high-grade epithermal silver and gold systems. A robust campaign of follow-up drilling and geophysical surveys is planned for the project in 2022 with the objective of expanding the 2022 Resource and advancing new targets.
Metallic Minerals Corp., Tuesday, April 26, 2022, Press release picture
Metallic Minerals will host a live webinar on Wednesday April 27th at 10am PT (1pm ET) to discuss the 2022 Resource, current activities, and upcoming plans for the La Plata and Keno Silver projects. To register, click here or the thumbnail.
Highlights
Inferred mineral resources at the Allard deposit total 889 million pounds of copper and 14.975 million ounces of silver in a constrained model with 115.7 million tonnes at an average grade of 0.39% Cu Eq (0.35% Cu and 4.02 g/t Ag) using a 0.25% Cu Eq cut-off grade (see Table 1).
The 2022 Resource Estimate area incorporates a single porphyry intrusive-hosted sulphide system that is drill defined over a kilometer (“km”) in length, 400 meters (m) in width and to a kilometer of vertical extent and remains open to expansion in all directions. The resource area shows strong spatial correlation with large-scale anomalies in geophysics and metal in soil values, providing a compelling basis for expansion of the 2022 Resource Estimate and for potential new discoveries in future drill campaigns.
The 2022 Resource Estimate was completed by SGS Geological Services (“SGS”) and is based on 56 diamond core drill holes, totalling 15,200 meters completed by Rio Tinto, Freeport and others along with new drilling and underground sampling by Metallic Minerals.
Exploration activities by Metallic Minerals in 2020 and 2021 included 1,980 meters of core drilling, resampling of historical drill core, underground sampling from the Allard deposit, airborne and ground-based geophysics and surface sampling across the broader property.
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 (see Figure 1).
In addition to the 2022 Resource Estimate, which remains fully open to expansion at depth and along strike, 16 untested potential porphyry centers have been identified on the greater La Plata project area, as well as target areas with potential for significant high-grade epithermal silver and gold.
Scott Petsel, Metallic Minerals’ President, states, “This inaugural resource is a major milestone for Metallic Minerals and the La Plata project and puts us on the map in the U.S. with a new resource containing important base and precious metals, that fall under the US government’s critical minerals strategy, in a past-producing yet underexplored district in the southwestern U.S. With 15 million ounces of silver and nearly a billion pounds of copper, at recent metal prices of over $25/oz silver and $4.50/lb copper, the Company has demonstrated the exceptional value opportunity of the La Plata project for Metallic Minerals shareholders.”
Mr. Petsel continued, “We feel this is just the start for us at La Plata and it validates our strategy of identifying and acquiring high-quality district-scale assets during lows in the metal price cycle and applying modern, systematic exploration techniques as a means of value creation. This is also the process we are seeing to fruition at our high-grade Keno Silver property in the Yukon, Canada. Work at La Plata in 2022 will focus on expanding this new resource and testing new priority target areas for porphyry and high-grade silver and gold mineralization.”
The 2022 Resource Estimate will be incorporated into an NI 43-101-compliant technical report for the La Plata project which will be available within 45 days.
Table 1 – La Plata Inferred Mineral Resource Estimate at a Base Case Cut-off Grade of 0.25% CuEq with Grade and Contained Metal Sensitivity Analysis at Various CuEq Cut-off Grades.
Class
CuEq (%)
Tonnes
Cu
Ag
CuEq (%)
Cut-off
Grade (%)
Mlbs
Grade (g/t)
Ounces
Grade (%)
Mlbs
Inferred
0.15
151,327,000
0.31
1,040
3.68
17,888,000
0.35
1,154
Inferred
0.2
142,378,000
0.32
1,008
3.77
17,273,000
0.36
1,118
Inferred
0.25
115,731,000
0.35
889
4.02
14,975,000
0.39
985
Inferred
0.3
86,986,000
0.38
733
4.31
12,056,000
0.42
810
Inferred
0.35
60,752,000
0.42
565
4.61
9,000,000
0.46
622
The 2022 Mineral Resource Estimate 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. 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.
Figure 1 – La Plata Cross Section with Significant Drill Intervals and Mineralized Grade Shells
Metallic Minerals Corp., Tuesday, April 26, 2022, Press release picture
Sensitivity Analysis
In addition to the base case scenario at an economic cut-off grade of 0.25% Cu Eq, a sensitivity analysis is provided in Table 1 above, which demonstrates the variation in grade, tonnage and contained metal for the 2022 Resource Estimate at various cut-off grades. Different cut-off grades may be employed depending on variations in prevailing metal prices and mining costs.
Project Review and Exploration Update
The road accessible La Plata project covers 33 km2 approximately 26 km northwest of Durango, 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.
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 prospects1. Historical production from some of these high-grade structures exceeded 1,000 grams per tonne (“g/t”) silver and over 15 g/t gold with some of the richest deposits delivering true bonanza grades for silver and gold.
From the 1950s to 1970s, major miners including Rio Tinto (Bear Creek) and Freeport-McMoRan (Phelps Dodge) explored in the La Plata 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 confirms the presence of a large-scale, multi-phase porphyry system with significant silver, gold and copper. This large-scale mineralized system is associated with a 10 km2, strong magnetic signature with intense hydrothermal alteration mapped in satellite based multispectral imaging.
The new 2022 Resource Estimate, at the Allard deposit, covers a relatively small part of the overall 33 km2 property. The deposit is steeply dipping and roughly tabular in shape, occurring over 1 km in length, 400 m in width with over 1 km in vertical extent based on drilling to date. The Allard deposit remains open to expansion in all directions.
The Allard deposit is a significant potential source of copper and silver, both important metals for the modernization and electrification of the economy. In addition, the broader La Plata property is known for Critical Minerals also important for the green energy revolution2. The resampling of hole 95-1 during the 2021 field season returned significant platinum and palladium assays (0.14 g/t platinum and 0.10 g/t palladium) associated with the Copper Hill target area east of the Allard resource area and corroborated historic accounts of its presence. Tellurium, another element on the critical mineral list, was a by-product of historic high-grade gold and silver production in the district. These and other important metals noted in the district will be evaluated as part of ongoing exploration of the project.
Work during the 2021 field season focused on the Allard target area with the completion 1,980 m of confirmation drilling, resampling of historical core and the resampling of the underground adit. Metallic Minerals is the first Company to complete significant exploration on the La Plata project in 50 years. Since acquisition, the Company has systematically explored the project by employing an array of modern exploration techniques. Through this work the Company has identified new high-grade epithermal-style targets and over 16 potential porphyry style mineralized zones across the broader property including at the adjacent Copper Hill target area, 1 km from the Allard deposit.
Planning for exploration work in 2022 is currently underway with a focus on resource expansion drilling, geophysics, and follow-up exploration on newly identified porphyry and high-grade silver and gold targets.
Estimation Methodology and Parameters
Completion of the 2022 Resource Estimate involved the assessment of a drill hole database, which included all data for surface and underground sampling completed through the fall of 2021, as well as a three-dimensional (“3D”) mineral resource model, a topographic surface model, models of the underground workings and underground channel samples, and available written reports. SGS used 56 drillholes and 15,200 m of drill data from 1959 to 2021 to delineate the Allard deposit in the 2022 Resource Estimate. All drill data and underground sampling completed by Metallic Minerals in 2021 were included in the 2022 Resource Estimate.
Inverse Distance squared restricted to a relevant underground mining mineralized domain was used to Interpolate grades for the main elements of interest including Cu (ppm) and Ag (g/t) into a block model. Composites of 3.05 m were used for the resource estimation with a 5 x 5 x 5-meter block size. A fixed specific gravity value of 2.65 g/cm3 is used to estimate the Mineral Resource tonnage from the block model volume and for waste density. While gold is seen associated with copper and silver in the deposit, historic assays for gold were limited and as such were not included in the estimate.
The mineral resources are presented undiluted and in situ (no minimum thickness), constrained by a continuous 3D wireframe model, and are considered to have reasonable prospects for eventual economic extraction. Based on a review of the project location and size, geometry and continuity of mineralization of the La Plata deposit, and its spatial distribution, it is envisioned that the La Plata deposit may be mined using a large-scale underground bulk mining method.
The base case cut-off grade of 0.25 % Cu Eq has been used to define Inferred underground resources on the La Plata deposits using bulk underground mining costs of US$5.30/tonne, US$11.50/tonne processing and G&A costs and assumed processing recoveries of 90% for Cu, 65% for Ag at long term metal prices of $3.60/lb Cu and $22.50/oz Ag. The constrained 2022 Resource Estimate grade blocks were quantified above the base case cut-off grade. At this base case economic cut-off grade the deposit shows good geologic and grade continuity.
The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that all or any part of the Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration.
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.
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 more than 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 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, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. 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 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 OTCQB, and Frankfurt stock exchanges.
1) Eckel, USGS Prof Paper 219, Geology and Ore Deposits of the La Plata Mining District, 1949; 2) Bear Creek Mining (now Rio Tinto), Humble Oil (now Exxon) and Phelps Dodge (now Freeport-McMoRan) company reports; 3) Christoffersen, Geological report on the Allard Copper-Silver-Gold-PGM deposit, La Plata Mining District, Durango, Colorado, 2005.
2) The US Geological Survey has released a list of 50 critical minerals that the USA economy requires for economic and national security.
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. Armitage conducted a site visit to the property on August 13, 2021. Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure not pertaining to the resource estimate contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.
Quality Control and Quality Assurance
Quality assurance and quality control procedures for drilling completed by the Company and consultants to the Company in 2021 include the systematic insertion of duplicate, blank and standard samples, making up 12% of the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and shipped directly to the Bureau Veritas preparation laboratory in their Sparks, Nevada facility and analyzed at the Burnaby, B.C. facility. All samples were analyzed using a 30 g multi-acid digestion with an ICP-ES/MS analysis. Samples with over limit gold, platinum or palladium were re-analyzed using a 30-gram fire assay fusion with an ICP-ES analysis. Over-limit copper and silver samples were analyzed by multi-acid digestion and atomic absorption spectrometry analysis. 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.
VANCOUVER, BC / ACCESSWIRE / April 12, 2022 / Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce further results from the 2021 field program at the Company’s flagship Keno Silver project located in the productive and historic high-grade Keno Hill Silver District of Yukon, Canada.
The 2021 East Keno program focused on drilling, mapping, soil sampling and geophysical surveying with the objective of expanding upon pivotal discoveries made by the Company in 2020 at the East Keno target area where the first drill campaign ever conducted in the area identified high-grade, Keno-style silver veins within broad continuous zones of bulk-tonnage silver mineralization (Figure 1).
Results from the 2021 program have successfully expanded the footprint of known mineralization at East Keno down dip and along trend. Additionally, new mapping has demonstrated the importance of stacked regional scale thrust faulting in the district and identified associated epithermal mineralization, potentially coincident with bulk tonnage type mineralization, providing a new model for the occurrence of silver deposits in a district with over a century of exploration and production.
2021 East Keno Exploration Highlights:
Silver mineralization was encountered in 10 of 12 holes drilled at East Keno in 2021, including 24 separate high-grade intervals exceeding 100 g/t silver equivalent (“Ag Eq”) with individual sample grades up to 1,049 g/t Ag Eq.
Seven of the 12 holes at East Keno highlighted broad zones over 15 m widths of continuous mineralization.
Very wide, near-surface, bulk-tonnage style intersects continue to be prevalent in the area (Hole KS21-71 intersected 112.8 m of 36.5 g/t Ag Eq and Hole KS21-72 intersected 88.4 of 28 g/t Ag Eq).
At the UKHM target, Hole KS21-73 intersected 1.53 m of 1,049 g/t Ag Eq of high-grade Keno-style vein mineralization (788 g/t Ag, 3.5% Pb, 2.3% Zn). This hole represents a 30 m step-out from 2020 Reverse Circulation (“RC”) Hole KE20-12, which returned 0.76 m of 809 Ag Eq (462 g/t Ag, 2.2% Pb, 5.2% Zn) extending the known length of the high-grade structure.
At the Fox showing, 10 mineralized holes (of 11) have been drilled in the past two seasons defining the mineralized zone over 300 m meters of strike length with 26 intersects over 100 g/t Ag Eq.
Drilling expanded known mineralized zones in all areas that were drilled in 2021 (Fox, UKHM and Zone 2), and mineralization remains open for expansion at depth and on strike at all East Keno target areas.
Five lines totalling 20.3-line-kilometers of Simcoe Geosciences Alpha IPTM system returning Induced Polarization (“IP”) and resistivity anomalies identified 35 new conductive features of interest associated with soil and magnetic targets.
Scott Petsel, President, stated: “We are very encouraged with the results from the new RC drilling, and first ever diamond core drilling, at East Keno that is expanding the scope of the target areas and continuing to validate these discoveries as potential future resource areas worthy of continued investigation. What’s really exciting for the 2022 field season is our ability to now incorporate the new mapping into an updated geologic understanding of the interplay of the regional-scale structures and the newly recognized broader and lower grade style of epithermal mineralization broader and lower grade with what we already know about the Keno style high-grade veins. This should significantly increase our ability to make new discoveries.”
“During the 2022 field season, the Company intends to use core drilling at the Fox, UKHM and Zone 2 discovers with the aim of extending these areas and evaluating resource potential. The potential we see at East Keno cannot be overstated and, with our targeting methodology honed, we expect to make major strides in continuing to advance these top priority targets towards resource definition. We look forward to providing further news including final results from West Keno, as well as an update with respect to our NI 43-101 resource definition at the La Plata silver-gold-copper project in Colorado and our exploration plans for both Keno and La Plata in 2022.”
Figure 1. Keno Silver District Geology and Deposits
2021 East Keno Exploration Program
The East Keno Area is represented by 12 multi-kilometer-scale anomalies which indicate potential for large scale mineralization in the least explored part of the district. The largest of the target areas extends up to five kilometers in length and two kilometers in width with values in soil exceeding 100 g/t Ag Eq. The initial drill campaign in the target area was completed in 2020 and returned several significant high-grade Ag-Pb-Zn massive sulphide vein intervals (KE20-01, 0.77 m @ 1,416.9 Ag Eq) and numerous broad potential bulk tonnage scale intervals (KE20-01, 28.2 m @ 70.1 g/t Ag Eq and KE20-02, 22.1 m @ 52.3 g/t Ag Eq).
The 2021 field program at East Keno was designed to conduct follow-up drilling at the new discovery areas identified in 2020 to define the scale of the subsurface mineralization along trend and at depth within these multi-kilometer-scale soil and geophysical targets. Exploration in 2021 consisted of geophysics, soil sampling, mapping and a total of 2,824 m of drilling comprising 1,507 m in four diamond core holes and 1,317 m in eight RC holes. Drilling at the East Keno target area, since the initial drill discovery in 2020, now totals 4,702 m in 31 holes.
Drilling returned new intervals of higher-grade Keno Style Ag-Pb-Zn mineralization within broad intervals of lower grade, bulk-tonnage style mineralization. The highest grades encountered in 2021 were found at the UKHM showing at the southern end of the five-kilometer-long soil anomaly where hole KS21-73 returned 1.53m of 1,049 g/t Ag Eq (778 g/t Ag, 3.54% Pb and 2.3% Zn) (Table 1). Zones of combined higher-grade zinc and lower-grade silver seen in the 2021 drill results are a result of metal zonation in the vein structures and provide information that can be used to direct future exploration efforts towards more silver-rich areas.
At the Fox showing, the most advanced of the East Keno target areas, broad intervals of bulk-tonnage-style mineralization have been returned in 10 of 11 holes drilled to date with 26 intersections greater than 100 g/t Ag Eq. Six holes (1 core, 5 RC) were drilled at Fox in 2021, expanding the total defined strike length to over 300 m. The best intervals, representing both high-grade Keno Style Ag-Pb-Zn veins and broader bulk tonnage mineralization, found at Fox are KE20-01: 0.77 m @ 1,417 g/t Ag Eq (1,145 g/t Ag, 2.2% Pb and 3.7% Zn) and KS21-71: 112.8 m @ 36.5 g/t Ag Eq (9.5 g/t Ag, 0.04% Pb and 0.5% Zn) (Table 1). The Fox target will be a focus of further off-set and expansion drill testing in 2022 as the target area advances towards resource definition.
Zone 2 and the UKHM target also returned similar broad envelopes of mineralization. The intervals are at shallow depths and may represent epithermal mineralization associated with stacked thrust faults as defined by mapping during the 2021 season. A focus on core drilling for 2022, which provides enhanced structural information, should help further characterize these styles of mineralization and their structural setting and associations.
Soil sampling at East Keno extended the existing +3 km silver in soil anomalies at the Fox target and defined a new zone, Fox Northeast, which appears to connect the previously identified Zone 2 and Fox targets. The Fox Northeast zone expands the known extent of anomalous soils 500 m east and 1,100 m to the north. This strong northerly anomaly coincides with observable lineaments from satellite imagery. A second new zone, Fox North, was also delineated as a 600 m by 350 m north-south trending silver in soil anomaly. Additional surface sampling will be a priority during the 2022 season to see if the Fox North anomaly can be linked with the broader 3 km anomaly to the south which encompasses the Fox, Zone 2 and UKHM target zones.
Table 1 – Highlight 2021 and 2020 Drill Results from the East Keno Target Areas
Hole
From (m)
To (m)
Width (m)
Ag Eq (g/t)
Ag (g/t)
Au (g/t)
Pb (%)
Zn (%)
KS21-68
143.26
210.31
67.05
15.2
7.4
0
0.02
0.13
incl
146.3
147.83
1.53
156.1
106
0
0.24
0.83
incl
207.26
208.79
1.53
122.8
36
0.01
0.26
1.6
KS21-69
16.76
38.1
21.34
17
9.2
0
0.05
0.08
KS21-69
83.82
85.34
1.52
233.3
117
0.01
0.94
1.69
KS21-70
19.81
27.43
7.62
25.3
16.2
0
0.1
0.06
KS21-70
57.91
73.15
15.24
21
4.3
0.05
0.02
0.23
KS21-71
12.19
124.97
112.78
36.5
9.5
0.01
0.04
0.5
incl
22.86
24.38
1.52
198.5
123
0.01
0.99
0.74
incl
60.96
64.01
3.05
215
48.9
0.05
0.16
3.24
incl
60.96
70.1
9.14
108.7
22.2
0.02
0.07
1.7
incl
80.77
91.44
10.67
105.3
22.2
0.02
0.04
1.66
incl
86.87
88.39
1.52
448.4
68
0.05
0.04
7.77
incl
100.58
102.11
1.53
218
32
0.18
0.02
3.53
incl
115.82
117.35
1.53
155.6
36
0.01
0.03
2.47
KS21-72
60.96
149.35
88.39
28
10
0.01
0.05
0.31
incl
60.96
62.48
1.52
314.9
162
0.02
0.89
2.44
incl
89.92
91.44
1.52
130.9
84.2
0.01
0.46
0.59
incl
99.06
102.11
3.05
119.7
31.2
0.04
0.05
1.74
incl
117.35
118.87
1.52
97.1
49
0
0.4
0.68
incl
138.68
140.21
1.53
242.9
33
0
0.07
4.34
KS21-73
111.25
115.82
4.57
424.9
305.2
0.12
1.39
1.11
incl
111.25
112.78
1.53
1049.1
788
0.11
3.54
2.3
KS21-73
146.3
147.83
1.53
85.4
64.1
0.03
0.23
0.18
KS21-74
19.81
44.2
24.39
18.4
14.3
0.01
0.07
0.02
incl
38.1
39.62
1.52
103.4
91
0.02
0.25
0.01
KS21-74
108.2
147.83
39.63
18.4
11.9
0.01
0.05
0.07
incl
115.82
117.35
1.53
105.3
69.1
0.07
0.19
0.42
incl
138.68
144.78
6.1
41.2
30.6
0.01
0.12
0.11
KS21-75
39.62
44.2
4.58
54.5
39.6
0.01
0.2
0.1
KS21-75
117.35
131.06
13.71
49.7
40.8
0.01
0.02
0.16
incl
121.92
123.44
1.52
326.8
281
0.03
0.03
0.86
FX21-01
19.8
20.8
1
111.2
71.1
0
0.44
0.49
FX21-01
115.6
116.1
0.5
114.4
9
0.2
0.02
1.78
FX21-01
326.3
326.8
0.5
177.7
15
0
0.02
3.37
Z221-02
137.5
138.4
0.9
135
59.4
0.04
0.68
0.93
KE20-01
41.15
69.34
28.19
70.1
44
0.01
0.14
0.39
incl
67.81
68.58
0.77
1416.9
1145
0.03
2.19
3.72
KE20-02
48
70.1
22.10
52.3
18
0.01
0.05
0.63
incl
62.24
64
0.76
683.5
301
0.13
0.68
7.14
KE20-08
41.91
42.67
0.76
387.2
293
0.01
0.03
1.89
KE20-11
22.86
41.15
18.29
63
54
0.02
0.19
0.01
incl
38.86
39.62
0.76
571.3
493
0.07
1.82
0.02
KE20-12
85.34
89.91
4.57
254.7
139
0.02
0.89
1.63
incl
89/15
89.91
0.76
809
462
0.09
2.18
5.15
KE20-16
64.77
68.58
3.81
594.3
28
0.00
0.52
11.41
1Silver 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
Figure 2 – East Keno Area Plan Map with 2021 and 2020 Drill Hole Locations
2021 Geophysical Survey
Simcoe Geosciences completed five lines (20.3-line km) of its Alpha IPTM system measuring IP and resistivity on both the Central and East Keno target areas. The survey identified areas of high IP response and 35 conductive features of interest associated with elevated silver in soil and coincident magnetic anomalies. Drilling at Fox North, a new soil anomaly identified in 2021, has provided insight into the potential for a buried intrusive body 500 to 1000 meters below East Keno that may be a driver of mineralizing fluids in the district. The drill hole returned sulphide mineralization and hornfels in association with the edge of the chargeability anomaly, potentially representing alteration by a significant nearby intrusion. The stacked thrusts mapped in 2021 may represent pathways for the epithermal mineralization from these buried intrusive bodies that could be responsible for the wider zones of 20-100 g/t Ag Eq bulk tonnage mineralization seen at East Keno. Further drilling and field work will be required to ground truth the anomalies in 2022.
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 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, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. 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 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.
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.
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.
VANCOUVER, BC / ACCESSWIRE / March 30, 2022 / Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company“) announces that, subject to the approval of the TSX Venture Exchange, it has granted 1,590,000 stock options (each, an “Option”) to certain insiders, directors and employees of the Company in accordance with the Company’s Long-Term Performance Incentive Plan. Each Option is exercisable into one common share in the capital of the Company (each, a “Share”) at a price of $0.41 per Share, being the closing price of the Shares on the TSX Venture Exchange on March 29, 2022, for a period of five years from the date of grant. The Options are subject to certain vesting requirements in accordance with the Company’s option plan.
About Metallic Minerals
Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver, gold and copper 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.
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.
VANCOUVER, BC / ACCESSWIRE / March 29, 2022 / Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company“) is pleased to announce the appointment of Mr. Scott Petsel as President of the Company, effective immediately. Mr. Petsel has been Vice President of Exploration for Metallic Minerals since 2016 and will be supported in this key executive leadership position by Chairman and CEO, Greg Johnson.
Mr. Scott Petsel, MBA, P.Geo., has over 34 years of experience in all facets of mineral exploration with particular focus on large scale precious and base metals systems. In addition to having extensive international experience, he has spent more than 20 years working in the Yukon, Alaska and British Columbia on significant advanced exploration and development stage projects including the Galore copper-gold-silver project (Teck/Newmont), Donlin gold project (NovaGold/Barrick), Upper Kobuk copper-zinc-silver-gold projects (Trilogy/South 32), and the Kensington gold mine (Coeur) amongst others. Mr Petsel received his geology degree from Fort Lewis College in Durango, Colorado, near Metallic’s La Plata Project, and his MBA at the University of Nevada, Las Vegas. His extensive experience in, and knowledge of, the jurisdictions where Metallic Minerals is active represents a great asset to the Company.
Scott Petsel, Metallic Minerals President, stated, “I look forward to this expanded role with Metallic Minerals, engaging with the shareholder base and broader investment community in collaboration with, Greg, and working with our strong technical teams to advance our exceptional portfolio of assets. It’s an exciting time in the precious and base metals markets for a dynamic exploration and development company like Metallic Minerals. We expect 2022 to be pivotal year for the Company and we have significant and substantive news to deliver over the ensuing weeks, including the Company’s inaugural resource estimate at La Plata and a robust and dynamic field exploration season on all three of the Company’s projects.”
Metallic Minerals Chairman & CEO, Greg Johnson, stated, “Through his successful career, Scott has repeatedly demonstrated the ability to recognize potential tier one quality deposits, efficiently advancing significant exploration projects through discovery, resource expansion, and subsequent engineering and de-risking to generate shareholder value. Scott is a leader and consensus builder with extensive ESG experience developed through his hands-on engagement with First Nations, Alaska Native Corporations and local communities. As the Company enters this next period of rapid development on multiple projects, I am confident that Scott will contribute significantly to Metallic Minerals in this expanded role going forward.”
About Metallic Minerals
Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver, gold and copper 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.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%253B1580500%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%253B1580500%2522%252C%2522wiki_topics%2522%253A%2522La_Plata%253BCompany%253BScotty_(Star_Trek)%253BMining_engineering%253BMineral%253BKlondike_Gold_Rush%253BExploration%253BBase_metal%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%252215bf794c-3e55-3efd-bd26-8a63306ab511%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
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, 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, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. 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 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.
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.
VANCOUVER, BC / ACCESSWIRE / February 17, 2022 / Metallic Minerals (TSX.V:MMG | US OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce drill results from the Central Keno target area, which intercepted high-grade silver mineralization within broad, bulk tonnage intervals akin to those recently discovered at East Keno but previously unknown in this part of Keno Hill. The Caribou target, in particular, is a top priority for resource definition and the Company is currently updating its 3D model based on drilling to date in anticipation of a robust 2022 campaign.
A total of 2,965 meters in 37 reverse circulation (“RC”) holes were completed throughout the Central Keno target areas out of 53 holes in the 6,200 meter (“m”) total 2021 Keno Silver program, along with 20.3 line-kilometers of deep-penetrating IP geophysical surveys. Results from the 26 holes from East and West Keno drilling remain pending.
Central Keno Highlights
32 of the 37 Central Keno RC holes intersected intervals of silver mineralization, with two holes lost short of target depth due to challenging ground conditions.
Multiple high-grade silver intervals were intersected, often within broader, silver-bearing, bulk-tonnage mineralized intervals representing a new target style not previously identified in Central Keno.
In addition to high-grade, vein-hosted silver typical of the Keno Hill district, significant, stacked regional scale thrust faults and associated high-grade epithermal systems have been identified as an additional host for silver mineralization, providing a major expansion of the district’s overall scale potential.
Caribou Target Highlights
Drilling at the advanced-stage Caribou target successfully extended high-grade silver mineralization to the north and 400 meters along strike to the south of the previously known extent of the Caribou structure.
A down-dip intersection, along the northern extent of the Caribou vein, returned some of the highest grades to date and validated the continuity of the high-grade structure at depth, with a 50-meter step out from previously confirmed mineralization.
Hole KS21-47 intersected 27.4 meters of 146.0 g/t silver equivalent1 (“AgEq”), including a high-grade interval of 3.05 meters (“m”) at 1150.8 g/t AgEq (562.06 g/t Ag, 1.48 g/t Au, 3.0% Pb, 6.96%Zn).
Hole KS21-55 intersected 19.8 m grading 119.1 g/t AgEq, including a high-grade interval of 1.52 m at 1009.8 g/t AgEq. (147 g/t Ag, 3.24% Au, 0.99% Pb, 10.90% Zn).
KS21-57 intersected 21.3 m of 147.3 g/t AgEq, including a high-grade interval of 3.05m at 694.9 g/t AgEq (476.35 g/t Ag, 0.40 g/t Au, 4.23% Pb, 0.37% Zn)
Hole KS21-63 intersected 15.2 m grading 97.2 g/t AgEq, including a high-grade interval of 1.52 m at 627 g/t AgEq (500 g/t Ag, 0.13 g/t Au, 2.35% Pb, 0.45% Zn).
Metallic Minerals Chairman & CEO, Greg Johnson, stated, “We are very encouraged by the results from our work in 2021 which has brought major new insights into the mineralizing controls across the Keno District, particularly at Central and East Keno. Our team has identified significant structural features indicative of regional scale thrust faults that appear to form important permeable zones for hosting high-tenor epithermal-style silver mineralization throughout the central and eastern parts of the Keno District. Work planned for 2022 will follow up on the confluence of these newly identified zones of thrust-associated high-grade epithermal-style silver mineralization with the main phase of Keno-style mineralization and its potential to host high-grade and bulk-tonnage resources.”
“Central Keno continues to show exceptional resource potential through the continued expansion of areas of known high-grade Keno-style silver mineralization, along with this newly recognized epithermal silver mineralization. Drilling in 2021 extended the Caribou target a further 400 meters along strike to the south as well as to the north and down dip, making it, along with the Formo target, a top priority for resource definition of significant scale. Drilling and surface sampling has similarly extended the Homestake target by more than a kilometer along strike, making this historic producer another focus for the 2022 program. Both the advanced-stage, historically productive Caribou and Homestake targets are host to well-defined areas with bonanza grades. Additional results from targets at East and West Keno are anticipated to be reported in the coming weeks, preceded by key updates with respect to our La Plata project in Colorado.”
Figure 1 – Keno Silver District Geology and Deposits
Central Keno Hill Silver District
The central part of the Keno Hill Silver District is host to over 100 million ounces of past production and current Indicated resources in shallow deposits that to date have not previously seen systematic exploration to depth or along strike. Central Keno was one of the original discovery areas in the region and hosted the historic producing Keno Hill mine, along with 8 other high-grade deposits including those on Metallic Minerals land holdings. Metallic Minerals’ work to date in this area shows the presence of a major structural corridor that is comparable in surface expression and structural setting to the +150 million-ounce Bermingham-Calumet system in the more extensively explored western part of the district.
Caribou Target Area
The Caribou target in the central part of the district is one of the most advanced individual targets at the Keno Silver Project. The Caribou deposit historically produced very high-grade material grading more than 1,000 g/t silver from near surface and is interpreted to be a significant connecting structure between the main shear structures in the Keno Summit structural corridor. The Caribou deposit spatially occurs within a high-level silver-in-soil anomaly of over 10 g/t AgEq that extends over 2.5 km long by 1.5 km in width and that remains open to expansion.
As part of the exploration program in 2021, Metallic Minerals completed the first-ever application of deep-sensing IP geophysics on the Keno Silver project using Simcoe Geoscience’s Alpha IPTM system. Two deep-looking IP lines were completed across the Central Keno area, which identified significant conductive features that spatially correspond with the newly mapped regional scale thrust fault structures and associated epithermal style silver mineralization. This IP survey in combination with the drilling and detailed mapping has allowed the Metallic Minerals technical team to identify major conductive features that are spatially associated with kilometer-scale soil and magnetic anomalies and significant silver mineralization. This combination of utilizing drilling, geophysics and soil sampling is a highly effective tool set for targeting mineralization across the Keno Hill silver district.
Figure 2 – Caribou Vein Long Section
Drilling in 2021 returned significant step out extensions of mineralization from the main Caribou deposit to the north, south and down dip. Eight of these holes intersected continuous mineralized zones from 15 to 64 m width including a 400-meter step out that encountered 15.2 m grading 97.2 g/t AgEq with 1.5 m grading 628 g/t AgEq (500 g/t Ag, 0.13 g/t Au, 2.35% Pb, 0.45% Zn). This zone appears to be spatially associated with the location of one of the newly mapped regional thrust faults that can host high-grade epithermal silver mineralization. The high-level silver-in-soil anomaly continues for another 1.5 km to the south along strike from this southernmost drill hole at Caribou.
In addition, holes KS21-46 and -47 tested extension of the Caribou deposit to the north and downdip. These holes both confirmed the continuation of strong silver tenor both on strike to the north and at depth with KS21-47 returning one of the highest-grade down dip holes drilled to date intersecting 1597 g/t AgEq over 1.5 meters within a mineralized zone of 27.4 m width grading 146 g/t AgEq.
Table 1- Highlight 2021 Drill Results from the Caribou Target
Hole
From (m)
To (m)
Width (m)
AgEq (g/t)
Ag (g/t)
Au (g/t)
Pb (%)
Zn (%)
KS21-46
42.67
44.2
1.53
71.6
1.5
0.73
0.01
0.00
79.25
94.49
15.24
81.9
18.7
0.04
0.17
1.11
incl
79.25
88.39
9.14
85.6
24.0
0.03
0.23
1.05
incl
80.77
82.3
1.53
448.7
125.0
0.13
1.29
5.51
incl
92.96
94.49
1.53
260.4
31.0
0.20
0.22
4.29
KS21-47
92.96
120.4
27.44
146.0
70.6
0.18
0.40
0.88
incl
109.73
112.78
3.05
1150.8
562.1
1.48
3.00
6.96
incl
109.73
111.25
1.52
1597.1
850.0
1.05
2.57
11.46
KS21-52
0
62.48
62.48
35.3
21.9
0.01
0.23
0.07
incl
1.52
25.91
24.39
79.7
51.9
0.02
0.55
0.09
incl
7.62
12.19
4.57
297.0
191.3
0.09
2.16
0.26
incl
9.14
10.67
1.53
500.6
340.0
0.22
2.94
0.49
KS21-54
16.76
42.67
25.91
53.4
35.2
0.01
0.30
0.11
incl
21.34
36.58
15.24
83.8
57.4
0.01
0.50
0.12
incl
22.86
24.38
1.52
517.0
387.0
0.07
2.74
0.30
KS21-55
44.2
76.2
32
75.6
14.8
0.19
0.09
0.82
incl
44.2
64.01
19.81
119.1
22.7
0.30
0.15
1.30
incl
50.29
60.96
10.67
210.8
37.1
0.55
0.26
2.34
incl
50.29
54.86
4.57
467.2
75.8
1.29
0.58
5.21
incl
51.82
53.34
1.52
1009.8
147.0
3.24
0.99
10.90
KS21-57
33.53
54.86
21.33
147.3
100.4
0.07
0.93
0.09
incl
33.53
42.67
9.14
332.4
227.7
0.16
2.15
0.15
incl
35.05
41.15
6.1
486.9
335.2
0.23
3.12
0.20
incl
35.05
38.1
3.05
694. 9
476.4
0.40
4.23
0.37
KS21-61
33.53
77.72
44.19
24.9
11.0
0.01
0.04
0.23
incl
50.29
59.44
9.15
102.6
47.7
0.05
0.16
0.92
incl
51.82
53.34
1.52
337.1
170.0
0.21
0.30
2.83
KS21-63
30.48
45.72
15.24
97.2
75.2
0.02
0.40
0.08
incl
30.48
38.1
7.62
160.1
125.2
0.03
0.65
0.12
incl
33.53
35.05
1.52
627.8
500.0
0.13
2.35
0.45
1Silver 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 intercept lengths.
Exploration to date has hit more than 70 mineralized intersections on the Caribou system over a strike distance of 700 m and down to 100 m depth. The Caribou deposit remains open to expansion to the south, north and down dip making it a top priority for resource focused drilling efforts in 2022. The highlighted results in Table 1 above build upon prior diamond drilling on the Caribou target by Metallic Minerals, results of which can be found here.
Metallic will look to follow up the 2021 success with diamond drilling in 2022 with intent to establish an initial resource at Caribou. Additional diamond drilling will be planned to test the newly extended southern strike and provide context for its association with the thrust structure. Importantly, 2021 drilling encountered ultra-high-grade, Keno-style vein intersects within much broader, bulk tonnage intervals similar to those discovered previously at East Keno in 2020.
Homestake
The historically productive Homestake target is located south of the Keno Summit target area along a parallel structural corridor. The style of the Homestake structure is comparable to those seen at the Keno Summit and in the more developed Western Keno areas. Homestake is comprised of two parallel vein structures within a broad structural corridor over 200 meters wide that has a demonstrated strike length of over 1 km in the host Keno Hill quartzite. Homestake #1 vein shows classic Keno-style, high-grade silver-lead-zinc mineralization, while the #2 vein can also show high gold grades with silver, which is characteristic of some structures in the larger deposits within the Keno Hill Silver District. The highest grades to date include assays of 4,027 g/t silver from drilling and 4,717 g/t silver from trenching on the Homestake #1 vein, and 22.1 g/t gold with 332 g/t silver from trenching on the Homestake #2 vein Prior drill results from Homestake can be found here.
To date there are 21 drilled vein intersections grading more than 600 g/t silver equivalent on the Homestake structures, including five that exceed 10 g/t gold on the Homestake #2 structure. Work in 2021 at Homestake focused on wide-spaced reconnaissance drilling along the main trends as well as extension of the open-ended soil anomalies. The soil sampling work expanded the high-level silver-in-soil anomaly associated with the Homestake mineralized system to 3 km in length by 1.5 km in width with the anomalies still open to further expansion. Intersections of anomalous silver over significant widths indicate a strike length of 1.5 km for the Homestake system. The next phase of systematic testing of these structures will be designed to delineate areas of the high-grade and bulk-tonnage toward development of an initial resource at Homestake.
About the Keno Silver Project
Exploration by Metallic Minerals at the Keno Silver project continues to systematically build on the Company’s 3D geologic database covering the east, central and western portions of the prolific Keno Hill silver district. The project includes eight high-grade, shallow past-producing mines that have yet to be subjected to modern exploration due to previously unconsolidated land ownership. Along the known, historically productive trends in the central and western parts of the district, the Company has advanced three targets towards an initial resource estimate along with identifying 12 priority multi-kilometer-scale early-stage targets in the under-explored eastern and southern parts of the district where initial drilling has returned significant high-grade Keno-style mineralization as well as bulk-tonnage style silver mineralization.
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 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, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. 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 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.
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.
Group Ten Metals (TSX.V: PGE / OTCQB: PGEZF) is a Canadian mineral resource exploration company focused on the advancement of our flagship Stillwater West PGE-Ni-Cu project adjacent to the high-grade Stillwater mines in Montana, USA
Group Ten Metals Inc.
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