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Register Here for the Metallic Minerals Live Webinar: https://bit.ly/3KPXJpn Press Release: https://bit.ly/3ZwEN31 Website: https://mmgsilver.com/ Investor Relations: Chris Ackerman Email: chris.ackerman@metallic-minerals.com Phone: 604-629-7800 ext. 1 Toll Free: 1-888-570-4420
TimeStamp: :47 Introduction to Metallic Minerals 1:18 On-Site to the La Plata Project/Mineral Resource Overview 3:31 Highlight from Press Release 6:00 Next Steps on the La Plata 7:13 Updated Resource 2023? 7:48 Latest Updates on the Keno Silver Project 12:13 MMG Partners with Discovery Channel – Parker Schnabel – Gold Rush 15:00 Will MMG be on the Show? 15:12 Alluvial Project Updates 17:00 Live Webinar (https://bit.ly/3KPXJpn) 18:24 MMG Capital Structure 19:09 Message to Shareholders
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.
Group Ten Metals: (TSX-V: PGE | OTCQB: PGEZF) Website: https://grouptenmetals.com/ Corporate Presentation: https://grouptenmetals.com/investors/presentations/
Granite Creek Copper: (TSX.V: GCX) Website: https://www.gcxcopper.com/ Corporate Presentation: https://www.gcxcopper.com/investors/presentations/
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VANCOUVER, BC / ACCESSWIRE / October 25, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces that it has engaged SGS Geological Services (“SGS”) for an updated independent National Instrument 43-101 (“NI 43-101”) mineral resource estimate for its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA.
The Company also provides updates on recently completed field campaigns, the integration of Platreef geologic models, carbon sequestration studies, and other priority objectives.
Highlights
SGS has completed their site visit and is working on an updated NI 43-101-compliant mineral resource estimate at the most advanced target areas at Stillwater West as a priority objective for 2022.
Modelling of the updated resource estimate will be based on results of the 14-hole expansion drilling campaign which were not included in the initial resource in October 2021. Results from the expansion drill campaign demonstrated the impressive scale and grade of mineralization at Stillwater West with multiple drill intercepts of percent level nickel sulphide plus strong copper, cobalt, gold, and Platinum Group Element (“PGE”) values across nine kilometers in wide step-outs from known mineralization at three of the five deposit areas.
The updated resource estimate will be the first to integrate detailed geological insights from similar geology in South Africa’s Platreef district under the direction of Dr. Danie Grobler, who recently joined the team as Vice-President Exploration.
Additional rhodium assay results are pending for inclusion in the updated resource models.
A ground-based gravity geophysical survey covering approximately 15.5 line-km was completed in September 2022 in the Chrome Mountain target area. The survey is a test based on the success of this technique in targeting mineralization in South Africa’s Bushveld complex.
A comprehensive review of the project’s substantial database with targeted core re-logging has been completed to update the Company’s geologic model and integrate the understanding of important controls to mineralization developed in similar geology in the Bushveld. This work, along with channel sampling campaigns also completed in 2022, is expected to drive finalization of the updated resource models and direct future expansion drill campaigns.
The Company is expanding its engagement with the US Geological Service (“USGS”) to include new technical programs in addition to ongoing consultation and data sharing following onsite meetings.
Carbon sequestration studies are ongoing with the University of British Columbia and Carbin Minerals Inc to investigate the potential for carbon capture as part of a potential mining operation at Stillwater West. The Company is also engaging with other US-based research facilities to further explore this potential.
Dr Danie Grobler, Vice-President Exploration, commented, “There is an impressive amount of battery and platinum group metal in the Stillwater system, which is one of the largest in the world. Our collaborative work with the US Geological Survey and other recent academic studies have confirmed that the Stillwater Igneous Complex, including both Stillwater West and Sibanye-Stillwater’s J-M Reef deposit, was deposited as part of the same broad magmatic system. Similar geologic events created South Africa’s Bushveld Igneous Complex, and our recent work in the field has confirmed a number of parallels between Stillwater West and the Platreef district of the Bushveld in particular. This is significant because the Platreef hosts some of the very largest and most profitable critical minerals deposits in the world, including Anglo American’s Mogalakwena mine and Ivanhoe’s Platreef mine. Presently we are focused on fully integrating our understanding of Platreef geology into the Company’s geological model with a view to expanded exploration programs, and this work is well underway. Our summer field programs are now completed and included core relogging, geological mapping, channel sampling, and a focused gravity geophysical survey based on the success of this method in targeting high-grade nickel and copper sulphide mineralization, as well as PGE reef targets, in a similar setting as the Platreef. We look forward to providing further updates in the coming weeks.”
Michael Rowley, President and CEO states, “Stillwater West is a very rare asset, being a district-scale critical minerals project in the western US. The project has percent-level nickel sulphide – plus copper, cobalt, palladium, platinum, rhodium, gold and chromium values – in five deposits across the 12-kilometer-long resource area, which remains open for expansion across a broader 32-kilometer package that is continuously mineralized. In addition, the project is located in a truly world-class district with a long history of critical mineral production, adjacent to mines that are actively producing critical minerals. We continue to see confirmation of a large mineralized system with extraordinary potential to become a strategically significant US-based source of battery metals to meet growing electrification needs while also supplying PGEs for catalytic convertors and increasing fuel cell demand. For the near term, we see significant potential for expansion and are pleased to re-engage SGS for the priority resource modelling work.”
Resource Model Update
The inaugural October 2021 inferred Mineral Resource Estimate (the “2021 Resource”) was prepared by SGS and advanced the Stillwater West project significantly towards its potential to become a world-class source of low-carbon battery, catalytic and precious metals, in the USA.
The potential for resource expansion is driven by the highly successful most recent 14-hole drill campaign, which returned multiple wide and high-grade intercepts in wide step-outs from known mineralization at the three most advanced deposit areas. These 14 holes, which were not included in the 2021 Resource, include:
DR/Hybrid deposit area, Chrome Mountain – Drill hole CM2021-05 returned13.2 meters of 2.31% Ni, plus 1.51 g/t Pd+Pt+Au+Rh (“4E”), 0.35% Cu, and 0.115% Co, starting at 37.6 meters and within 400.8 meters of continuous battery and precious metal mineralization. High-grade mineralization in this hole is of a type not previously identified in the Stillwater district and appears to be related to 8.5 meters of similar high-grade, high-tenor nickel sulphide returned in hole CM2020-04 approximately 125 meters downdip to the west. See news releases from May 3, 2022, and March 3, 2021.
CZ deposit area, Iron Mountain – Drill hole CZ2021-01 returned 63.7 meters of 0.47% Ni, 0.42 g/t Pd, 0.27% Cu, and 0.04% Co as well as significant Pt and Au values, within 367.6 meters of continuous mineralization. Hole CZ2021-01 was a step-out from hole CZ2019-01 which returned 3.54 meters of 1.53% Ni, 0.49% Cu, 0.099% Co, and 3.45 g/t 4E within 399 meters of continuous mineralization, starting at surface. The CZ deposit benefits from a historic resource and positive preliminary metallurgical work completed by AMAX in the 1970s. The Company is expanding nickel-copper mineralization at CZ by the application of Platreef geologic models. See news releases from December 20, 2021, and January 21, 2020.
HGR deposit, Iron Mountain – Drill hole IM2021-05 returned 7.3 meters of 0.45% Ni, 0.51 g/t 4E, 0.17% Cu and 0.026% Co, including 2.4 meters of 1.55% Ni, 0.85 g/t 4E, 0.17% Cu, and 0.087% Co, within 379.2 meters of continuous battery and precious metal mineralization starting at surface. IM2021-05 was a step-out from hole IM2019-03 which returned 26.8 meters of 0.34% Ni, 0.15% Cu, 0.019% Co, and 1.24 g/t 4E within 272.5 meters of continuous mineralization. See news releases from July 7, 2022, and December 18, 2019.
About SGS Geological Services
SGS Geological Services is known globally as an expert in ore body modelling, and resource and reserve evaluation with over 40 years and 1500 consulting projects of experience providing the mining industry with computer-assisted mineral resource estimation services using cutting edge geostatistical techniques. SGS brings the disciplines of geology, geostatistics and mining engineering together to provide accurate and timely mineral project evaluation solutions. As part of the larger SGS Natural Resources group, they draw upon their massive network of laboratories, metallurgists, process engineers and other professionals to help bring mineral projects to the next level.
Option Grant
The Company announces it has granted 1,540,000 incentive stock options (the “Options”) to Directors and Officers of the Company. The Options are exercisable for up to five years, expiring on October 25, 2027, and each Option will allow the holder to purchase one common share of the Company at a price of $0.175 per share. Options are subject to certain vesting requirements in accordance with the Company’s Long-Term Performance Incentive Plan.
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, 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. 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 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 Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSXV: 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 ongoing production of platinum group and other metals by neighboring 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.
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.
VANCOUVER, BC / ACCESSWIRE / October 10, 2022 / Metallic Minerals Corp. (TSX.V:MMG; OTCQB:MMNGF) (“Metallic” or the “Company”) is pleased to announce the Company will be presenting at the Emerging Growth Conference on October 12th, 2022 at 9:00am PT (12:00pm ET).
Metallic Minerals Corp., Monday, October 10, 2022, Press release picture
This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with CEO, Greg Johnson, who will discuss global and domestic metals markets, provide an overview of our key projects and upcoming catalysts and participate in a live Q&A session.
Metallic Minerals CEO, Greg Johnson, commented, “We are very pleased to be participating in our first Emerging Growth event and, against the backdrop of recently rebounding metals strength, feel this is excellent timing to introduce investors to the mining sector, the opportunities that abound and the value potential of Metallic Minerals as a precious and base metals explorer with exceptional assets. In 2022, we conducted exploration and drill campaigns at both our high-grade Keno Silver project adjacent to Hecla Mining in Yukon, Canada and our La Plata copper-silver-gold project in Colorado, USA. Results from both are pending receipt of assays and we anticipate news flow in that regard to commence soon.”
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present opportunities and communicate major announcements to the investment community in a time efficient manner. Conference focus and coverage includes companies in a wide range of growth sectors with strong management teams, focused strategy and execution, and overall potential for long-term growth. The audience includes individual and institutional investors, as well as investment advisors and analysts.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%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Hecla_Mining%253BLa_Plata%253BCompany%253BMineral%253BKeno_City%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25227cad23d4-6755-3b0f-9a16-c008e5359400%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
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 Hecla Mining’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 third largest in the world, completed the acquisition of Alexco in September 2022. In April 2022, Metallic 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.
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 / September 7, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce that it has acquired 100% interest in 5 square kilometres (“km2“) of new mineral properties in the Keno Hill silver district of Canada’s Yukon Territory, bringing the Company’s total district hard-rock land position to 171 km2. Each of these newly acquired properties have demonstrated the presence of high-grade Keno-style silver-lead-zinc mineralization and are adjacent to, or contiguous with, Metallic Minerals’ Keno Silver property and the Keno Hill properties now owned by Hecla Mining following the completion of the acquisition of Alexco Resources (see Figure 1).
Acquisition Highlights
Nabob and Faro Claims – In the Keno Summit area, the Nabob claim hosts the Keno Hill “Main” vein and its numerous offshoots where drilling in 2012 returned impressive results (NA-12-02, 0.4 meters (m) of 4,090.6 grams per ton (g/t) Silver Equivalent (Ag Eq) (3,140 g/t Ag, 0.86 g/t Au, 22.37% Pb and 0.25% Cu), that led to high-grade surface mining of 65 tons of ore material over 4,200 g/t Ag (see Table 1)1. The Nabob Main vein was successfully targeted by two Metallic Minerals drill holes in its 2022 field program and assay results are pending.
Rage 1-3 Claims – The Rage claims cover the Rain and Shine target area where a typical Keno-style Ag-Pb-Zn vein has been sampled at surface and returned grades to 889.1 g/t Ag Eq in grab samples from the vein. The Rain and Shine mineralization appears to occur at the intersection of the Flame & Moth and Onek trends, which host 41.5 million ounces of silver (“Moz Ag”) and 4.3 Moz Ag respectively, in mineral reserves and M&I resources2. Well located regarding infrastructure, the Rage claims are crossed by the Bellekeno mine-to-mill haul road, only 600 meters from the Hecla Mill.
The Tveter-Pavlovich claims on the south side of Sourdough Hill, 500 meters from Hecla’s Bellekeno mine, is associated with extension of structures from the Bellekeno deposit which has produced 7.9 Moz Ag5 and hosts 4.75 Moz Ag in current reserves and M&I resources2. These potential extensions were tested by drilling at the Tveter-Pavlovich claim boundary in 2018 returning 3.3 m of 469.3 g/t Ag Eq (63.1 g/t Ag, 0.93% Pb, 0.92% Zn) including 0.2 m of 1,120.5 g/t Ag Eq (832.0 g/t Ag, 3.34%1)4. In addition to the Bellekeno vein extensions, historic exploration identified and exposed two additional vein occurrences with high-grade Ag-Pb-Zn and gold potential called the Mo vein showings on the property3.
Metallic Minerals President, Scott Petsel, stated, “We are very pleased to have been able to add these significant and very prospective properties in the high-grade Keno Hill silver district, and to immediately initiate drill testing of the Nabob vein as a historically drilled, potentially ‘resource-ready’ target.”
“Additionally, Metallic’s 171 km2 land position is the second largest in the prolific Keno Hill camp and now contains five ‘resource-ready’ advanced-stage targets, 11 ‘growth-stage’ targets with initial positive drilling and over 20 early-stage drill-ready targets with numerous additional untested soil anomalies of greater than 6.0 g/t Ag Eq., all in a district with over 100 years of mining history and over 300 million ounces of past silver production and current resources5. We are currently wrapping up our exploration program at the Keno Silver Project and we anticipate receiving initial results over the coming months from our core drilling and surface sampling programs including results from the Nabob target drilling.”
Keno District Alluvial Claims
In addition to the recently acquired hard-rock properties mentioned above, Metallic Minerals has been assembling, through acquisition and staking, a significant package of alluvial claims and leases in prospective areas in the Keno District. These claim groupings, including the Granite Creek East claims, the Allen/Faith Creek Claims and the Badger and Honey claims total over 20 miles of prospective alluvial deposits to explore and develop. Claims in the Granite Creek area have produced over 16,000 ounces of gold between 2015 and 2020 and gold production continues in multiple operations6. Metallic intends to pursue royalty agreements with known operators interested in alluvial claim development and production. A further update on Metallic’s alluvial claim and activities at both Keno and in the Klondike is expected in the coming weeks.
Upcoming Events
Metals Investor Forum – Metallic Minerals will be participating in the upcoming Metals Investor Forum in Vancouver on September 9-10, during which the Company will provide a live presentation with Q&A. For more information and to register click here.
Precious Metals Summit – Metallic Minerals will be attending the 2022 Precious Metals Summit in Beaver Creek, Colorado, where the Company will participate in 1-on-1 meetings with institutional investors and deliver a live presentation update. For more information and to register, click here.
Figure 1 – Keno Silver District Map Highlighting Metallic Minerals Property and New Acquisitions
Metallic Minerals Corp., Wednesday, September 7, 2022, Press release picture
Table 1 – Highlight Assay Results from Historic Drilling and Sampling at Recent Acquisition Targets
Target Area
DDH or Sample ID
Sample Type
From (m)
To (m)
Width (m)
Ag Eq (g/t)1
Ag (g/t)
Au (g/t)
Pb (%)
Zn (%)
Cu (%)
Rage
113362
Grab
–
–
–
565.3
56.8
0.03
0.22
10.54
0.03
Rage
113363
Grab
–
–
–
193.0
26.0
0.31
0.07
2.80
0.03
Rage
113364
Grab
–
–
–
660.4
198.0
4.51
0.40
0.10
0.14
Rage
10-06-LB
Grab
–
–
–
889.1
36.0
1.41
0.05
14.42
0.38
Rage
11-06-LB
Grab
–
–
–
301.5
263.0
0.22
0.38
0.07
Nil
Rage
RS-01-06
Grab
–
–
–
326.7
275.0
0.25
0.59
0.12
Nil
Rage
RS-02-06
Chip
–
–
–
259.3
28.0
0.01
0.05
4.87
Nil
Nabob2
NA-12-02
Core
21.24
24.64
3.4
637.5
466.5
0.12
4.06
0.08
0.01
Nabob2
Incl.
Core
21.24
21.64
0.4
4090.6
3140.0
0.86
22.37
0.25
0.09
Nabob2
NA-12-03
Core
22.5
23.7
1.2
292.5
169.7
0.13
2.69
0.15
0.01
Nabob2
NA-12-04
Core
16.76
17.76
1
236.7
122.0
0.07
2.33
0.40
0.01
Nabob2
NA-12-06
Core
20
20.75
0.75
240.4
200.0
0.13
0.60
0.09
0.01
Nabob2
NA-12-11
Core
4.75
5.55
0.8
1202.0
1019.0
0.29
3.60
0.28
0.05
Nabob2
NA-12-11
Core
16.1
16.7
0.6
251.6
172.0
0.05
1.56
0.27
0.03
Nabob2
NA-12-12
Core
7.05
8.25
1.2
1125.4
798.7
0.41
7.10
0.36
0.02
Nabob2
Incl.
Core
7.05
7.45
0.4
2951.9
2142.0
0.71
18.63
0.67
0.04
Nabob2
NA-12-13
Core
8.6
10.1
1.5
211.5
119.2
0.44
0.58
0.60
0.01
Nabob2
NA-12-14
Core
5.2
6.1
0.9
779.8
655.0
0.44
1.56
0.34
0.08
Nabob2
NA-12-15
Core
11.35
13.00
1.65
455.3
394.0
0.15
0.40
0.65
0.01
Tveter -Pavlovich3
K-18-0695
Core
285.3
289.5
4.15
83.8
33.9
0.01
0.82
0.38
–
incl.
Core
287.65
288
0.35
724.2
354.0
0.01
8.99
0.61
–
Tveter -Pavlovich3
K-18-0697
Core
230.5
233.8
3.3
469.3
63.1
0.01
0.93
0.92
–
Incl.
Core
230.5
230.7
0.2
1120.5
832.0
0.14
3.34
3.17
–
Table Notes: 1 – Silver equivalent (Ag Eq) values assume Ag $19/oz, Pb $1.05/lb, Zn $1.30/lb, Au $1,800/oz, Cu $3.00/lb and 100% metallurgical recovery. Sample intervals are based on measured drill intercept lengths. 2 – Historic Nabob drill samples were subject to highly selective sampling procedures for the purpose of evaluating high-grade mining opportunities and may not be representative of the entire mineralized widths of the Nabob vein system. 3 – Drilled by Alexco Resources at the Tveter-Pavlovich property boundary while the property was under option to Alexco Resources.
Nabob Target Area
The Nabob target, located in the Keno Summit target area, directly adjoins other holdings for Metallic. It was one of the original four claims filed on the Keno Summit discovery in 1919. The fact that it still has exposed high-grade Ag-Pb-Zn vein material, and in the 2010s saw 65 tons of very-high-grade silver production, emphasizes the overall prospectivity of this under-explored part of the district.
Hosted by the Nabob claim the “Main” vein and its transverse offshoots are exposed for 250 m on strike. Work completed in 2012 included rock sampling, trenching, geophysics and the drilling of 17 holes (490.7 m). As reported from the 2012 work, a bulk sample ran 1,618 g/t Ag, 18.5% Pb and 0.51 g/t Au underscoring the high-grade nature of the Nabob target1. After review of the available drill data and surface exposures, Metallic Minerals chose to drill two holes at the Nabob target in 2022 which have successfully encountered the vein structure and assay results are pending. The Nabob claim acquisition is accompanied by the equally prospective but undrilled Faro claim, also in the Keno Summit area. Together the claims enhance and expand Metallic’s holdings at the Keno Summit and add to the potential to rapidly develop a resource for the target area.
2022 Drill set up at the Nabob target
Rain and Shine (Rage 1-3) Target Area
The Rage claims, vended with the Nabob and Faro claims, host the Rain and Shine Ag-Pb-Zn-Au vein target. Mineralization at Rain and Shine is exposed at surface and has been sampled by Metallic Minerals returning substantial grades in grab sampling (see Table 1). The proximity of the Rain and Shine target to existing infrastructure, including Hecla’s operating mill and the Bellekeno haul road as well as being 750 m from underground developments at Hecla’s Flame & Moth mine (41.5 million silver ounces of combined reserves and M&I resources2), bode well for its exploration and development prospects. Mineralization at Rain and Shine is known to have occasional high grade gold numbers associated with the typical Ag-Pb-Zn mineralization and the exposed vein system is parallel to, and similar in style and mineralogy to the vein system being mined at the Flame & Moth. The Rain and Shine is a drill-ready target that Metallic will evaluate for drilling in 2023.
Tveter-Pavlovich Target Area
Consisting of 23 quartz mineral claims (Mo 1-8, Caroline 1-2, Rex 1-2, Boso 1-5, Casy 1-3, Bonny, Chrissie G and the Windy 1), the Tveter-Pavlovich claim block was optioned by Alexco Resources in 2017 with four holes drilled to test the extension of veins in the hanging wall of the Bellekeno 48 vein in the Bellekeno mine. Two of these drill holes encountered significant mineralization up to 1,120.5 g/t Ag Eq (see Table 1) with mineralization open to expansion with follow-up drilling.
Mineralization also outcrops on the Tveter-Pavlovich claims at the Mo target where historic trenching, dozing, shafting and the driving of an adit have exposed two parallel veins with select high-grade sample assays up to 9,771 g/t Ag, 80.5% Pb and 1.7 g/t Au3. Additionally, trenching in 1980 is reported to have exposed a segment of the Mo vein which ran up to 13,719 g/t Ag.
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 Hecla Mining’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 third largest in the world, completed the acquisition of Alexco in September 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.
Footnotes
Blackburn, L. R., Assessment Report, Nabob Project, Keno Hill Yukon Territory, Canada, Keno Hill Exploration Corp., Yukon, 2014
Alexco Resource Corp Technical Report, titled “NI 43-101 Technical Report on Updated Mineral Resource and Reserve Estimate of the Keno Hill Silver District” with an effective date of April 1, 2021 and issue date of May 26, 2021.
Yukon MINFILE – Mineral Occurrence 105M 013 – Version 2004-1. Yukon Geological Survey, Energy, Mines and Resources, Yukon Government, 2004.
Stammers, et al., Assessment Report, 2018 Pavlovich Option Sourdough Hill, Alexco Resources, Yukon, 2019.
Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850.
Steinke, et al., Public Presentation, Placer Gold Settings in an Alpine Glaciated Environment, Granite Creek, Yukon, Placer Forum 2022.
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.
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”).
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.
VANCOUVER, BC / ACCESSWIRE / August 30, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) congratulates Heritage Mining Ltd. (“Heritage”) for completion of their Initial Public Offering (“IPO”) and commencement of trading on the Canadian Securities Exchange under the symbol HML.
Under an earn-in agreement with SWCM announced November 29, 2021 (“the Agreement”), Heritage can acquire up to a 90% interest in the Drayton-Black Lake gold project in Ontario by completing cash and share payments totaling $320,000 and 7,200,000, respectively, and completing exploration and development work totaling $5,000,000 by the fourth anniversary of the Agreement.
The Agreement also provides SWCM with a 10% carried interest through completion of a feasibility study and includes potential success-based discovery payments of $1.00 per ounce of gold or gold equivalent on mineral resource estimates as filed from time-to-time on Drayton-Black Lake. Success-based payments are capped at a maximum of $10,000,000 and may be paid in cash or shares at Heritage’s discretion. At SWCM’s discretion, Heritage may own 100% of the project, with SWCM retaining an NSR royalty interest. Heritage has confirmed that issuance of 2,800,000 shares, required as a first tranche per the Agreement, is in progress and acknowledges the requirement for a cash payment of $150,000 within 10 days of the one-year anniversary of the Agreement.
Michael Rowley, SWCM’s President and CEO, commented, “Our heartiest congratulations to Heritage Mining for completing their IPO. This achievement is not only an important milestone in our agreement with them but is also one that sets the stage for our mutual success as they advance the Drayton-Black Lake project as their flagship asset. Heritage is off to a great start with a large and highly prospective land package in a producing yet underexplored high-grade district and a team with strong local expertise. gold belt. We expect our agreement with Heritage to be the first in a series of deals whereby we realize significant value for our non-core assets as part of our focus on battery and precious metals at Stillwater West, in Montana’s Stillwater Igneous Complex.”
Heritage Mining’s CEO, Peter Schloo stated, “Completing the IPO is a pivotal moment for Heritage. District-scale exploration assets are very rare, and the project’s location in Ontario’s producing Rainy River district adjacent to Treasury Metals’ Goliath Gold Complex makes it even more compelling. We are well-capitalized and excited about the potential of the Drayton-Black Lake project, and we look forward to reporting on our progress and the targets we have developed there.”
About the Drayton-Black Lake Gold Project
The Drayton-Black Lake project consists of over 142 square kilometers in the Abrams‐Minnitaki Lake Archean greenstone belt, along the northern margin of the Wabigoon sub-province in Ontario, Canada. This emerging gold belt has already produced over one million ounces gold1 and currently hosts 6.6 million ounces of gold in Reserves and Measured and Indicated resources in total among New Gold’s Rainy River Mine, Treasury Metals’ Goliath Gold Complex, and First Mining’s Cameron gold project2. Drayton-Black Lake has significant exploration potential with demonstrated high-grade gold in drill results and bulk samples across more than 30 kilometers of underexplored strike in a geologic setting that is shared with Treasury Metals’ development-stage Goliath Gold Complex project. Access and infrastructure are excellent on the project, which features direct road access and proximity to rail and power. The project features well-defined, near-term drill targets over four zones, based on over 100 years of exploration data from 176 diamond drill holes totaling approximately 20km that had never been compiled until 2022.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%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Mining_engineering%253BCanadian_Securities_Exchange%253BNatural_resource%253BExploration%253BInitial_public_offering%253BPrecious_metal%253BMineral%253BNew_Gold%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%2522f7bb1360-0dab-3a4d-8e1e-8e30f01e3037%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
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 Drayton-Black Lake 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’s district-scale Kluane PGE-Ni-Cu-Co project is 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 high-grade 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.
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 projects. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is currently insufficient exploration to define these Inferred mineral resources as Indicated or Measured mineral resources and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
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.
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.
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.
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
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