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

Group Ten Metals – Maiden 43-101 Nickel-PGE Resource Update

Maurice:

Joining us for a conversation is Michael Rowley, the CEO of Group Ten Metals. Glad to be speaking with you today, as you have a big announcement for shareholders regarding the Black Lake–Drayton gold project. Before we begin, Mr. Rowley, please introduce us to Group Ten Metals and the opportunity the company presents to shareholders.

Michael Rowley:

Group Ten is focused on advancing our Stillwater West project as a premier source of low-carbon ‘green metals’ in Montana’s Stillwater district, beside Sibanye-Stillwater’s mine complex. Within the next few weeks, we expect to debut our maiden resource estimates of nickel, copper, palladium, platinum, rhodium, gold and cobalt, on that project which we expect will compare favorably with our peers and position us for growth based on this years drill campaign.

Along with owning half of the iconic Stillwater district in Montana, Group Ten also has two other district-scale land positions, the Black Lake Drayton gold project in Ontario that you mentioned a minute ago, and the Kluane PGE-Ni-Cu-Co project in the Yukon.  All three of these are big brownfield land positions in great districts, and they are 100% owned by Group Ten because we were acquiring them strategically during the bear market when great assets were available inexpensively. We are focused more than ever on Stillwater, and with that our non-core assets are effectively up for sale or spin-out in the first in a series in that regard.

Maurice:

Well, let’s begin today in Ontario is Group Ten Metals has just announced (Press Release) a letter of intent with Heritage Mining on the sale of the Black Lake–Drayton gold project. Congratulations, sir.

Michael Rowley:

Thank you, we are excited about the potential we see there.  Heritage Mining is a new listing with an excellent team, and they are well equipped to focus on Black Lake and give it the attention it deserves while granting excellent exposure to that success.

Black Lake is a rare asset that is hard to find in this current, improving market with increasing activity in junior exploration.  It checks all the boxes.  It is a big land position that shares an emerging district with a 3Moz development-stage high-grade gold project, yet is underexplored. So there is lots of smoke, someone just needs to find the fire.  Treasury Metals has done great work to the west of us consolidating the rest of the district, and Rainy River, farther to the west is now in production with New Gold. This whole belt was late to the game because of limited access and shallow ground cover, but developments at Rainy River in the 1990s changed that, and now there is over 14Moz in the belt, and growing.

Maurice:

All right, let’s get into the exciting stuff, sir. Please share the terms of the agreement with us and in particular, the cash and share compensation that group 10 metals will be receiving along with the carried interest in the potential for discovery payments.

Michael Rowley:

It’s a great deal for both parties. Group Ten will gain a major share position in a newly listed company that’s focused on precious metals and focused on developing tier one assets, developing resources. And we get that 10% free carried interest through to feasibility study. So we can be at the table at a later stage to negotiate the sale of that during a possible broader consolidation play in the district. We received $320,000 in cash payments in the first two years of the deal as well. And we receive bonus payments of $1 for every ounce of gold that is formerly brought on the books in any category at any time and even in multiple stages. That has a $10 million cap on that, the district already hosts more than 10 million ounces. So that figure is certainly possible given the area.

Maurice:

So that we better appreciate the terms. Would you please provide us with a quick bio on Heritage Mining and what they bring to the table?

Michael Rowley:

Heritage Mining is a very experienced team with an excellent track record of raising cash and advancing projects, especially in Ontario and Quebec. Heritage is familiar with this geology. They’re keen to hit the ground, which is very pleasing to us because the point of this deal is that we want someone else to raise the $5 million and advance this asset the way we think it can be advanced. So they certainly appear to be capable of that. They have an excellent record of proving ounces, developing mines, operating companies, and marketing, raising capital.

Maurice:

Where will this transaction put Group Ten Metals in terms of ownership, percentage on the share structure for Heritage Mining?

Michael Rowley:

Well, we’ll have to see what their first placement looks like once they’re trading and that’s a couple of months out from now. But we expect to be about 10% of the company initially, and then maintain between the 5% and 10% level from there. A key point on that note also is that we have that bonus structure having a carried interest. Therefore, we are not relying solely on our share position for value. We’ve got several avenues here to be exposed to that success that we expect them to have.

Maurice:

And when does Group Ten Metals expect the transaction will close?

Michael Rowley:

We look good to close around the 60-day mark around mid-October.

Maurice:

Leaving Ontario and onto the Yukon where Group Ten Metals has another non-core asset within his property bank that is equally has been receiving a lot of interest from prospective buyers. And I’m speaking of the Kluane PGE, nickel, copper project in the Yukon. Sir, any updates for us?

Michael Rowley:

The Kluane is another explored project. We have over 250 square kilometers in the under-explored Kluane Belt, which is a fantastic belt of deposits. Another ultramafic system like Stillwater reaching from BC through into Alaska. The most advanced one. There is Nickel Creek Platinum, formerly Wellgreen. And the news there is that they’ve been increasingly active in the past year. And that’s good to see. They’ve been drilling, they’ve been doing geophysics and they’ve been doing it up on the northwest end of the system towards us, which is music to our ears. We’ll be seeing them at Beaver Creek and we’re looking forward to further activity from them. You’re correct that we’re getting more interested in those projects and that they like Black Lake are effectively for sale. We just have low carrying costs. Then we’re taking our time looking for the right deals.

Maurice:

Leaving the Yukon less visit Montana, which hosts your flagship Stillwater West project. But before we get into the latest news on the Stillwater West, would you please remind us about the unique value proposition before us on your flagship project?

Michael Rowley:

The Stillwater West is fantastic.  In 2017, the opportunity was presented to us to own half of the iconic Stillwater District, which sounds too good to be true in a way. But thanks to several factors that came together at the right time. Most of all, a local vendor who had spotted a bankruptcy that left these claims available, and he was quick, he bought the data from the past operators and he tied up the claims. We’ve since tripled land position. We now own half the district we’ve built a terrific database, predictive geologic model. The point is that we are well on our way to proving ourselves as a primary source of green metals, battery-grade nickel, copper, cobalt, with platinum group elements, palladium, platinum, rhodium, and also gold.

In a US district beside three mines and a smelter complex. These are big disseminated, sulfide deposits. They convert easily and cleanly to nickel sulfate. And we are weeks away from our first resources on the project, which is a very exciting moment for any junior exploration company. This will be a solid debut, it’ll position us nicely among our peers. And we see terrific room to grow from there. If you’ve seen our news release back in April, where we related the 3D models from our IP survey, the emerging images of our Resource models, and the potential we have for expansion.

Maurice:

The Stillwater West is currently undergoing its largest exploration program to date, which is a 10,000-meter drill program there recently added a second drill rig, sir, take us on-site and get us up to speed on the program.

Michael Rowley:

We have 2 rigs turning, which is music to our ears. We’re hitting sulfide very nicely in both, massive sulfide in places, net texture, and disseminated in others. The predictive model that we’ve been working up the past few years is working beautifully. And that’s a key point. We’re now hitting with a high degree of predictability, which is what geologists want to see. The district is well mineralized.  Our neighbor has 87 million ounces in current resources, reserves, and 14 million ounces in past production of the highest-grade palladium-platinum in the world.

That’s a single magmatic pulse laid down across 40 kilometers. These things are staggering in scale, and it’s also a nickel-copper-sulfide deposit that is worth noting. We are just below them in that stratigraphy. And we’re seeing similar continuity of these horizons. We are hitting new ones all the time, they seem to run for great lengths and it’s easy to add ounces and pounds. The program that you mentioned that’s underway now should do very nicely for expanding the inaugural resources as fast as we can in 2022. So we’ll debut numbers here in summer 2021, and then look to expand them as fast as possible in 2022.

Maurice:

All right, you have two truth machines drilling away. Do you already have some core in the lab and any timeframe on when we may receive some assays?

Michael Rowley:

The first one and a half holes are in the labs, include some nice-looking core. The labs are saying six weeks though, give me into October to get those into a news release.

Maurice:

Now we will hold you to that, but we will hold the labs to that. All right, switching gears, let’s look at some numbers. Sir, please provide the capital structure for Group Ten Metals.

Michael Rowley:

Group Ten Metals has 163 million shares outstanding at today’s price. That puts us around a $50 million market cap. We feel that significantly below where we could be based on our peers. I think a good peer might be Canada Nickel, for example. Noting of course they don’t have the platinum group element component that we have. However, they are four or five times our market cap with a similar, large, lower-grade nickel project. And we think that makes it a compelling comparison. We have$ 6 million cash in the bank and we have $13 million in the money options and warrants. Those are priced between .21 and .30 cents. No placements are planned for the foreseeable future and a fully funded, fully permitted for this year’s program. And even into next year at this point.

Maurice:

Speaking of those warrants. Expect for me to go ahead and exercise mine. Speaking of the shares, Group Ten Metals recently upgraded its DTC eligibility. What does that mean for shareholders? I

Michael Rowley:

I had to look into it myself to be reminded. DTC is an electronic clearing service. This simplifies the process of trading and enhances liquidity For American traders, which we have a really good US shareholder base. So this is, meaningful in terms of fast and efficient settling of those trades.

Maurice:

Before we close Mr. Rowley, what would you like to say to shareholders?

Michael Rowley:

This is an exciting time for Group Ten Metals! If you’re familiar with the Lassonde Curve value creation in junior miners were at that just pre-discovery phase where you get that rapid increase in value. And it’s quite a privilege to be here. It’s exciting to be systematically exploring the Stillwater Complex, which is famously metal-rich, and yet also under-explored and it’s remarkable, but the 215 drill holes to date across 32 kilometers of claims, 61 square kilometers. That’s not a lot. And we’re testing things all the time that have never been drilled and we’re finding nice-looking sulfides there. So to be the ones systematically adding value and looking like, in terms of the market, that we’re on the left end of the Lassonde Curve, but knowing that we’re much farther along in terms of having comfort about some size and grade here. Pretty exciting.

Maurice:

Last question. What did I forget to ask?

Michael Rowley:

Well, it’s probably a good point to touch on the broader commodity markets and you know metal markets are going sideways at the moment but there are the fundamentals are in place perhaps more than ever for a really good steady increase. We’re looking for all the metals in our suite of commodity baskets to resume their upward momentum likely this fall. We’ve got the FED meeting behind us today. Things look positive the fundamentals are there and we’re looking forward to increased value for all our commodities, especially, in nickel. We’re hearing increasingly of the coming shortfall in nickel sulfide, in particular clean nickel that’s good for batteries or rather makes nickel sulfate in the most environmentally friendly manner. We’re excited to be part of that and we’re looking forward to that renewed momentum. This is a good buying opportunity to buy shares in Group Ten Metals. 

Maurice

Sir, for readers that want to get more information on Group Ten Metals, please share the website address.

Michael Rowley:

www.grouptenmetals.com

Maurice:

Mr. Rowley, it’s been a pleasure speaking with you today, wishing you and Group Ten Metals the absolute best sir.

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Base Metals Energy Exclusive Interviews Granite Creek Copper Junior Mining

Granite Creek Copper – Resource Expansion on the High-Grade Copper Carmacks Project

Maurice:

Joining us for conversation is Tim Johnson, the CEO of Granite Creek Copper (TSX.V: GCX | OTCQB: GCXXF).

Tim Johnson:

Thank you, Maurice. It’s always a pleasure to be here.

Maurice:

What an exciting time to be speaking with you as Granite Creek Copper has just released some very exciting results to the market, which look to further extend the resource at the high-grade Carmacks copper-gold project. Before we begin, Mr. Johnson, please introduce us to Granite Creek Copper and the opportunity the company presents to shareholders.

Tim Johnson:

Granite Creek Copper is an exploration stage copper-focused company. We’re focusing on our Carmacks project in the center of Yukon, Canada, which is a great jurisdiction for development and we have excellent access to power and a highway. And just released some very exciting news of which we are very pleased and I appreciate this opportunity to discuss them and put them into context for readers.

Maurice:

Granite Creek Copper began its inaugural drill campaign back in November, which was quite successful, yielding 127 meters of 0.85% copper equivalent at Carmacks’s zone 13, and 4.6 meters of 7.5% copper equivalent at Carmacks north zone A, which was followed up in May with phase one of three drill programs slated for 2021.

In July, Granite Creek released the first string of asset results from phase one and the results were quite impressive. Just the other day, the company released a single hole, hole 11, which has some spectacular results. It would seem that there will be much more bluesky on the horizon on the Carmacks deposit. Mr. Johnson, I have table one from the press release before us. Please walk us through the asset results and in particular, hole 11.

Tim Johnson:

Hole 11 was a bit of an eye-opener for us. It was targeted in zone 2000 south. When we went into the campaign, we knew that there was some significant potential to grow the resources in 2000 South, and  I must say Hole 11 delivered, along with a few other holes drilled in the 2000 south zone all intercepted mineralization well below the current resource model, so giving us the potential to significantly expand that resource. We’re pretty pleased. We think not only can we expand the resource, but if you notice that, looking at the resource table in the news release, that just about all the intercepts are of a higher grade than what’s in the table. That gives us the potential to not only grow the resource and as far as tonnage, but also potentially deliver a higher-grade resource on an updated resource estimate that we’re working on right now.

Tim Johnson:

Hole 11 intercepted 105 meters at 1.18% copper on an equivalent basis and above 0.97% copper on its own. Within that, there were 22 meters of over 2% copper. Those grades are pretty spectacular, and we think, again, that’s going to make a significant upgrade to the resource once we can complete a few more holes and model that. We don’t think this is a one-off hole. We think from the geophysics and what we’re seeing that we will be able to expand the resource in a much higher grade. Of course, we’ve got some more drilling to do to be able to deliver that, but we’re pretty bullish about that. We’ve refocused our phase three program, which we expect to start in a week or two, to target that area of 2000 south, and also to see if we can connect the 2000 south up to some of the other zones at Carmacks to make a more continuous ore body.

Maurice:

Now sticking with zone 2000 south, I have table two before us. What do these results seem to indicate?

Tim Johnson:

Table two is a resource calculation done by previous operators. This was published in 2017. You can see it’s quite a small resource, about 600,000 tons in the sulfide domain, which readers should know that the sulfide domain is what we’re targeting. The oxide, there is limited oxide in 2000 south. I think this is one of the reasons why this target is still here, because previous operators, again, we’re more focused on a small oxide operation. So they weren’t targeting the sulfide, but we see the real potential here to be the sulfide. This hole seems to verify that. Again, the grade on this hole is above what the grade of the resource, the current resource is. So good delivery on a couple of fronts, both potential tonnage increase, and potential grade increase.

Maurice:

And I do wish to highlight the geological acumen of Granite Creek Copper, as the Carmacks has had over 50,000 meters of exploration in the past and they were not able to locate the success you have in hole 11.  What does that say about GCX and the success of the company moving forward?

Tim Johnson:

There’s a couple of reasons for that. The previous operators and there was nothing wrong with this, felt they had an economic resource in the oxide. The oxide is fairly near surface. Therefore, there was a lot of drilling done to prove up that resource, but there was very little drilling done to expand the resource into the sulfide material or to look for adjacent potential like we have at Carmacks North. Previous operators had quite a small land package for various reasons. They had to let some go in some of the tougher times in the industry, and we benefited from that, by having that land package available for us when we acquired it and then subsequently acquired coper north, of course, to consolidate the district.

Tim Johnson:

So yeah, you’re right. I mean 50,000 meters have been drilled, but a lot of it, as I said, was very near-surface, oxide focused, and left us the opportunity to come in and recognize the potential for significant expansion beneath the oxide into the sulfide, and really not that deep. The transition zone from oxide to sulfide occurs about 200 meters plus or minus below surface, so still well within an economic mining range, and really, a lot of bluesky left and a lot of discovery potential on the combined land package.

Maurice:

In previous interviews, we’ve discussed resource expansion. How does today’s press release increase the impact on the pending 43-101 mineral resource estimate?

Tim Johnson:

It significantly impacts mineral resource estimate.  When consider where Hole 11 fits in relation to the current resource, and the entirety of the 105 meters of significant mineralization is below the current resource. So giving us up to 100, maybe 120 meters of down-dip extension on that resource. Now, we do need to infill around it. You can’t build a resource on a single hole, but some of the other holes that we’ve had that we released in July also support that down-dip extension of the resource. So we see significant growth potential here in this zone.

Tim Johnson:

We did drill again this year on Zone 13. We’re still waiting for those assays, but we see potential to grow in 13 as well. We also see potential to grow in the sulfide portion of Zone 1, which some of those assays were also released in our first release in July. So basically, three zones that we have resource growth potential, and we’re working on modeling those right now. We’re working with a third party to bring that resource into view, and we hope to be able to deliver that to the market in a fairly timely manner.

Maurice:

I referenced that Granite Creek will embark on three drill programs this year. When can shareholders expect the remaining results from phase one?

Tim Johnson:

That’s a really tough question to answer. As we move into the fall, the labs get busier and busier. So it’s really hard for me to nail down, but we would expect hopefully by late September to early October, we’d have final results on phase one. The phase two program we’re currently going on is an RC or a reverse circulation program. It’s targeting some of the earlier stage targets both at Carmacks north, which is a northern extension of our land package, and some of the earlier stage targets around the Carmacks deposit itself. Then the phase three program, which is now being re-imagined in and around 2000 south, will be starting in the coming weeks. Then that should give us fairly good assay flow and be able to continue to deliver results to the market as we move through the fall and into the winter months.

Maurice:

By the way, is phase three, is that an RC or is that diamond core, sir?

Tim Johnson:

Phase three is a diamond program. What we did this year, we budgeted for 10,000 meters. We completed 6,300 meters in the initial program, and we kept back some meterage to get the results in and to understand the geology of the orientation of the deposits. Now that those results are coming in as I said, we’re refocusing our efforts to build out where we have the best results and try to get … increase the tonnage and increase the grade in the zones that we think are going to make the most difference to the resource.

Maurice:

When we last spoke, Granite Creek Copper announced that it had entered into a contract with Sedgman and Mining Plus. What are the latest developments there?

Tim Johnson:

We working forward with Sedgman and Mining Plus. One of the big reasons we brought them in is two-fold. One of the reasons we brought them in was to optimize the process for both the oxide and sulfide processing that was initially developed in the 2017 PEA, and then also to develop a mine plan that would bring the sulfide in as well. The previous PEA only spoke to the oxide resource. It contemplated about a 7 mine life. We saw at least double that in the sulfide resource, but there was no mine plan for it. Sedgman and Mining Plus are working very hard to bring that into view. What’s going to happen, we’ll take that information and that will inform our next economic study to be done on the project. We will look at updating the preliminary economic assessment once we have all the results in both from the work that Sedgman and Mining Plus are doing, and of course, with an updated resource that is being currently worked on to bring both the tonnage and the mine plan and the processing plan all into one economic study.

Maurice:

Leaving the Carmacks project, sir, please provide us with an update on the capital structure for Granite Creek Copper.

Tim Johnson:

Granite Creek Copper has 127 million shares issued and outstanding. We’ve have warrants that are right at the strike price of the warrants, about $4.8 million in cash value of those warrants with the strike price at 20 cents. We see strength in the market moving into the fall, and we expect those warrants to assist the company in continuing on with our economic studies and upcoming programs. Meaning that we won’t be looking to conduct a dilutive financing in the near term. We expect strength in the copper market hopefully will allow us to delay any large financing for a while.

Maurice:

Before we close, Mr. Johnson, what would you like to say to shareholders?

Tim Johnson:

I think the copper space is an excellent space for speculative shareholders to be to be looking we think that the copper market is going to have strength moving through the remainder of this year and into next year.  We’ve got an excellent project with excellent exposure to copper and to precious metals as well in a very good jurisdiction. I think it’s worth adding granite creek copper to your watch list and making sure you follow along with our story.

Maurice: Last question sir what did i forget to ask?

Tim Johnson:

Well as usual Maurice, you did an excellent job.  I think the questions you asked are very good and I appreciate your time.

Maurice:

Thank you sir. Mr Johnson for someone that wants to get more information on granite creek copper please share the contact details.

Tim Johnson:

Please visit us at www.gcxcopper.com.

Maurice:

Mr. Johnson is always a pleasure to speak with you wishing you and Granite Creek Copper the absolute best sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

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Base Metals Breaking Energy Exclusive Interviews Metallic Group Metallic Minerals

Metallic Minerals – 2 Drill Programs, La Plata and Keno Silver projects, Plus Royalties

Joining us for a conversation is Greg Johnson, the CEO of Metallic Minerals (TSX.V: MMG | OTCQB: MMNGF). Sir, we are thrilled to have you back as Metallic Minerals has several exciting developments to provide shareholders. Before we begin, Mr. Johnson, please introduce us to Metallic Minerals and the opportunity the company presents to shareholders.

Greg Johnson:

Metallic Minerals is a silver-focused exploration and development stage company. We are a member of the Metallic Group of Companies. Many of us were part of the original founding of NovaGold. The group is backed by renowned resource investors, such as Eric Sprott. We started putting together the Metallic Group at the bottom of the metal price cycle. Our focus was on brownfields, past-producing, high-potential districts with MMG being focused on silver. Over the past five years, we’ve acquired and explored three exceptional assets, including our flagship Keno Silver Project, the La Plata Project, and our Klondike Royalty Portfolio.

Maurice Jackson:

Speaking of Colorado, sir, take us onsite to the La Plata Silver-Gold-Copper Project located just outside of Durango, as Metallic Minerals has just announced the commencement of its initial drill campaign on the La Plata, which is the first significant exploration in over 50 years in the historic high-grade La Plata Mining District. Before we get into the press release, Mr. Johnson, please acquaint us more with the La Plata Project and the value proposition before us.

Greg Johnson:

So we’re pretty excited about this. We see this as an amazing opportunity. The La Plata Project is a high-grade silver and gold district originally discovered in the 1700s with over 90 different mines and prospects that were developed from the 1800s to about the 1940s, all of these producing bonanza-grade silver and gold. Major miners such as, Rio Tinto and Freeport, have come into the district in the 1950s, recognizing the bulk-tonnage potential in the central part of this precious metals-rich porphyry system. This system is a lot like the Galore Creek Project that was operated by NovaGold and our team was part of driving the success, that was recently sold to Teck and Newmont. Our team is particularly excited about applying our new modern toolkit to this opportunity in this historic high-grade district.

Maurice Jackson:

Metallic Minerals is embarking on Phase One of your 2021 drill program on the La Plata, which will be 2,000 meters of diamond drilling on the central porphyry, which hosts the historic resource. What is the goal for this campaign? And can you talk about the historical resource and what it looks like?

Greg Johnson:

This is the first drill campaign on this project in, as you said, in nearly 50 years. It’s designed to confirm the historic drill work on the project, which is only in the central porphyry system and particularly the precious metal values, which were historically under-sample. With 54 historic drill holes comprising nearly 15,000 meters of drilling, we see the potential here at La Plata to rapidly advance the system to a modern 43-101 resource. That historic resource indicates that we have the potential for a multi-billion-pound copper system with tens of millions of ounces of silver. And that historic resource doesn’t include any of the work surrounding the area in the high-grade epithermal silver-gold structures that were the focus of historic mining.

Maurice Jackson:

How will Metallic Minerals measure success for this drill program and when can the market expect results?

Greg Johnson:

What we’re looking for here is to confirm the past work, which was done by really high-quality players like Rio Tinto and Freeport, with the potential to be able to not only show what they did, but to build on that and show significant expansion. We should start to see results coming out over the next couple of months with continued 3D modeling going into the fall with an objective, ultimately, of delivering an inaugural 43-101 resource on this project.

Maurice Jackson:

Leaving Colorado, let’s visit Metallic Minerals’ flagship Keno Silver Project, which is adjacent to Alexco Resources, located in the historic silver-rich Keno Silver District of the Yukon in Canada. Back in April, Metallic Minerals announced a high-grade silver intersect with 4.1 meters resulting in 2,536 grams per tonnes silver equivalent. That has now been followed up with a 10,000-meter drill program. How are things coming along and are there any updates that you can pass along to us?

Greg Johnson:

This is an exciting program. Our exploration program kicked off this year in June with the first drill. We’re looking to add a second here. This is going to be one of our largest programs to date on the Keno Silver Project with 10,000 meters planned on multiple targets and following up on the success from last year. In addition, we’re running a deep IP geophysical survey across the large targets on the eastern part of the district, which could start to give us a sense of scale and potential on those discoveries from last year’s program.

That historic resource indicates that we have the potential for a multi-billion pound copper system with tens of millions of ounces of silver. And that historic resource doesn’t include any of the work surrounding the area in the high-grade epithermal silver-gold structures that were the focus of historic mining.

Maurice Jackson:

When can we expect results from the drill program and what will determine success?

Greg Johnson:

Results should start coming out any time and continue over the next several months and well into the fall. What we’re hoping to do here is to build and expand on the areas we’ve already identified mineralization, both in terms of the high-grade systems and the bulk tonnage, and to continue to build towards that inaugural resource estimate for the project.

Maurice Jackson:

Finally, let’s discuss the highly innovative Klondike alluvial gold properties in the Yukon. Do you have any updates there?

Greg Johnson:

We were pleased actually to see significant progress on the Alluvial Gold Portfolio. This is in the historic Klondike Gold Fields, which produced over 20 million ounces historically. And today that production is from these large-scale, modern open-pit operations. We’ve had major drill campaigns completed by a couple of our operators this spring and going into the summer. The next steps here are the initiation of bulk-sample processing, which is like test mining of the ground. And from that work, we could potentially see two or three of the blocks advance quickly to commercial gold production, including the potential for the first significant production royalties to Metallic Minerals this year from gold produced on those projects.

Maurice Jackson:

Oh, that sounds exciting. All right. Leaving the project sites, what is the next significant milestone for Metallic Minerals?

Greg Johnson:

With three active programs, we’ve got a lot of activity that I would expect to see strong news flow coming from each of the projects. Each one of them has kind of its milestones, but drilling, geophysical results, and then, ultimately, culminating in initial resource estimates and potentially gold production from the Alluvial Portfolio.

Maurice Jackson:

Let’s look at some numbers. Sir, please provide us the capital structure for Metallic Minerals.

Greg Johnson:

The company is well structured. 126 million shares outstanding. No debt. Got about 6 million in cash and significant in-the-money warrants that could bring in as much as another $12 million for the next year. We’re well-positioned to carry out this year’s program and we’re well-positioned into 2022 for follow-up programs.

Maurice Jackson:

In closing, Mr. Johnson, what would you like to say to shareholders?

Greg Johnson:

I think it’s worth talking about the current markets for precious metals and particularly how it fits in with the historic seasonality for the sector. We believe that a major bottom in the commodity and precious metal sector was put in, in that 2016 to 2020 period and that we’re now in the very early stages of a multi-year commodity cycle. I believe it has the potential to eclipse the last cycle that ran from 2001 to 2011. Typically, during these decade-long cycles, we’re going to get extended, healthy consolidations that can take significant periods to resolve. Gold and silver equities have been consolidating since August of last year. On top of that, we’re currently in what’s typically the weakest seasonal period for silver and gold with the strongest period generally starting in the fall.

The next steps here are the initiation of bulk-sample processing, which is like test mining of the ground. And from that work, we could potentially see two or three of the blocks advance quickly to commercial gold production, including the potential for the first significant production royalties to Metallic Minerals this year from gold produced on those projects.

Greg Johnson:

I think this presents an opportunity for astute investors to be picking up shares of high-quality, precious-metal companies at terrific values. With such long recent consolidations, but such very bullish fundamentals, I think we’re winding the spring here for a very bullish period ahead with likely another five to ten years of bull markets still to come. I should mention that with over 30,000 meters of drilling underway in the three Metallic Group of Companies, this gives investors exceptional exposure to silver, battery metals, and copper in what is looking to be an exceptional time in the marketplace for people to be picking up value in our group.

Maurice Jackson:

Mr. Johnson, last question and that is, what did I forget to ask?

Greg Johnson:

I think this has been an amazingly comprehensive coverage and interview. I would recommend that if investors have questions that they go to our website, which is mmgsilver.com, or give us a call and the numbers listed on that website. We’re happy always to talk with investors and to answer questions.

Maurice Jackson:

Mr. Johnson, it has been a pleasure speaking with you. Wishing you and Metallic Minerals the absolute best, sir.

Greg Johnson:

Thanks a lot. Been a pleasure to be back with you.

Maurice Jackson:

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

Categories
Base Metals Junior Mining Metallic Minerals Precious Metals

Metallic Minerals Announces Start of First Phase Drilling at La Plata Silver-Gold-Copper Project in Southwest Colorado, USA

VANCOUVER, BC / ACCESSWIRE / July 20, 2021 / Metallic Minerals (TSX.V:MMG |OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the start of the first phase of drilling of up to 2,000 meters at the La Plata silver-gold-copper project in southwest Colorado along with an update on exploration activities to date. This initial diamond core drill program is designed to test and confirm mineralization in the central porphyry system, which hosts an historical resource estimate, as the first steps toward developing a new NI 43-101 compliant resource estimate.

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.

Project Highlights

  • Drilling to date within the central porphyry system has defined a northeast trending, near vertical zone of copper-silver-gold mineralization covering an area of at least 3 km by 1 km with over 1 km of vertical relief that remains open to expansion along trend and to depth with excellent potential for additional discoveries (see Figure 1).
  • 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 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 gold1.
  • Drill hole LP-03 intersected 395 m of porphyry style mineralization grading 0.57% copper equivalent (0.51% Cu, 6.3 g/t Ag, and 0.017 g/t Au) including 108 m grading 0.75% copper equivalent (0.65% Cu, 7.7 g/t Ag and 0.034 g/t Au) starting from surface and with the hole ending in mineralization.
  • Exploration in 2021 is designed to expand known zones of mineralization and to advance a new NI 43-101 compliant resource estimate for the central porphyry system.

Project History

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. 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 54 drill holes totaling 14,400 m have been drilled on the property since the 1950s which confirm the presence of large-scale, multi-phase porphyry system with significant silver, gold and copper (see Table 1). This large-scale mineralized system is associated with a 10 km2 strongly magnetic signature with intense hydrothermal alteration.

Metallic Minerals is the first company to complete significant exploration on the La Plata project in nearly 50 years applying modern technologies and deposit modeling techniques. The Company sees the potential to rapidly extend the size of the known mineralized system and to identify and expand the higher-grade zones within the broader porphyry and epithermal mineralized zones.

Fieldwork completed by Metallic Minerals at La Plata to date has focused on resampling of drill core and underground sampling, surface mapping, and soil sampling. In addition, the Company has flown airborne resistivity and magnetics, completed a preliminary ground-based induced polarization survey and analysis of multi-spectral remote sensing data to establish mineralized anomalies and domains for the various styles of mineralization. This work has identified at least 25 anomalous targets within four broader target zones showing excellent potential to extend resources outside of the main historically recognized mineralized areas.

Allard Zone

Drilling to date on the Allard zone within the central porphyry system has defined a northeast trending zone of copper-silver-gold mineralization that begins at surface and continues to a depth of at least 850 m and more than a kilometer of strike. Recent underground chip channel sampling by Metallic Minerals within the Allard tunnel has confirmed a true width of 98.2 m grading 0.55% Cu Eq. across the zone including 61.6 m grading 0.65% Cu Eq. Historical drill hole LP-03 intersected 395 m of porphyry style mineralization grading 0.57% copper equivalent (0.51% Cu, 6.3 g/t Ag, and 0.017 g/t Au) including 108 m grading 0.75% copper equivalent (0.65% Cu, 7.7 g/t Ag and 0.034 g/t Au) starting at surface with the hole ending in mineralization.

Copper Hill Zone

Copper Hill is one of several additional parallel zones of copper and precious metals mineralization have been intersected in drilling, located 1.5 km to the southeast of the Allard zone it is also associated with significant platinum and palladium mineralization. The Company completed systematic analyses of unsampled core from the Copper Hill target area which returned significant results in an area with little previous drilling. Two zones of copper and precious metals mineralization were encountered in this drilling with an upper zone grading 0.27% Cu Eq. over 207 m and a lower zone of mineralization grading 0.44% Cu Eq. over 44 m with associated gold, platinum, and palladium mineralization. The Copper Hill target area represents a significant platinum group element-enriched copper mineralized target more than a kilometer vertically below the high-grade surface mining at the Copper Hill prospect and is completely outside of the historic resource area.

Figure 1– La Plata Long Section

Greg Johnson, President and CEO of Metallic Minerals, stated, “Metallic is the first company to complete significant exploration on the La Plata silver-gold-copper project in nearly 50 years and we are very excited to be kicking off this inaugural drill campaign. Our work to date has confirmed the multi-kilometer scale of the mineralized porphyry and epithermal system at La Plata through surface sampling, geophysics and satellite based remote sensing. This initial work has demonstrated the potential for the La Plata system to be much larger than previously recognized, with excellent potential to expand zones of known mineralization and to make new discoveries. We have begun 3D modelling of drilling and geophysical data with the objective of advancing towards a NI 43-101 compliant resource estimate for the project. We look forward to providing additional updates on drilling and modelling work in coming weeks and months at La Plata, as well as updates from our on-going work on the high-grade Keno Silver project and alluvial projects in the Klondike Gold district.”

Table 1 – Highlight significant mineralized drill and underground sample results from La Plata porphyry system

Hole IDFrom mTo mWidthCuEq.%Cu %Au g/tAg g/tPt g/tPd g/t
LP-010.0854.4854.41, 20.2612
Including573.9828.4254.51, 20.4112
Including623.0638.215.20.450.360.0346.863,5
Including743.7764.420.71, 21.1512
LP-031.5396.8395.30.560.5116.263, 5
Including1.5109.1107.60.720.6517.693, 5
Including172.8199.927.10.860.76111.543, 5
LP-041.5304.8303.30.440.4014.683, 5
Including4.6102.898.20.740.6915.743, 5
Including69.5102.733.20.940.8618.703, 5
C-011.1416.9415.81, 20.2612
Including299.336363.71, 20.4212
CA-030.0304.8304.81, 20.3912
HEN-02076.476.40.50.310.2294.355
HEN-040.091.991.90.760.360.5205.505
95-1680.2887.5207.30.270.210.0302.140.030.025
995.21039.444.20.440.150.0301.460.140.105
1005.91027.221.30.50.210.0472.050.190.165
Allard UG48.6146..898.20.550.460.0304.764, 5
Including51.7113.361.60.650.550.0305.554, 5

Table notes: 1 – incomplete gold assay data; 2 – incomplete silver assay data; 3 – gold and silver assay data from sample composites 6.1 to 12.2 m in length; 4 – Allard tunnel sawn channel samples collected in 2020; 5 – Cu Eq. % calculated using $3.25 lbs. Cu, $1,650/oz Au, $20/oz Ag, $1,000/oz Pt and $2,000/oz Pd in US$.

OTC Metals and Mining Virtual Conference

Metallic Minerals will be presenting at the upcoming Green Energy and Precious Metals Investor Conference hosted by OTC Markets on July 29 at 2:30pm ET. Chairman & CEO, Greg Johnson, will provide a comprehensive overview of the Company, including an update on 2021 exploration activities to date and upcoming newsflow, followed by a Q&A. To register, click here.

Foot notes: 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 deposit, La Plata Mining District, Durango, Colorado, 2005.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: mmgsilver.com

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

Forward-Looking Statements

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

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

SOURCE: Metallic Minerals Corp.

Categories
Energy Junior Mining Precious Metals

Metallic Minerals Launches 10,000+ meter Drill Program at Keno Silver Project in Yukon, Canada


Press Release


Corporate Presentation

Metallic Minerals Chairman & CEO, Greg Johnson, commented: “We are excited to launch our 2021 field programs in the Keno Hill silver district with our largest exploration campaign to date on the project at over 10,000 meters. This multi-rig drill program will focus on expansion drilling at several advanced-stage targets and follow-up drilling at recent discoveries, along with initial reconnaissance drilling at several priority untested multi-kilometer-scale soil and geophysical targets. The Keno Hill silver district stands out as one of the world’s highest-grade, near-surface silver producing regions with operating mines, roads, power and infrastructure in place within a top-rated mining jurisdiction. Metallic Minerals is well-positioned to make significant new discoveries and to build high-grade silver resources on its district scale land position during this period of rising silver prices within this major new bull market commodity cycle. With the early start of this year’s drill program, assay results should be released throughout the summer as they become available. We look forward to the exciting exploration season ahead as well as providing additional updates including with respect to exploration at our La Plata silver-gold-copper project in Colorado, USA and our alluvial gold royalty portfolio in the Klondike gold district.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.metallic-minerals.com Phone: 604-629-7800
Email: chris.ackerman@metallic-minerals.com Toll Free: 1-888-570-4420


Categories
Junior Mining

METALLIC MINERALS Corp Invites Shareholders and Investment Community to visit us at Booth 322 at the VRIC Conference in Vancouver, January 20-21, 2019

Vancouver, British Columbia–(Newsfile Corp. – January 14, 2019) – Metallic Minerals Corp (TSXV: MMG) would like to cordially invite you to visit us at Booth #322 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 20 – Monday January 21, 2019.

The Vancouver Resource Investment Conference has been the bellwether of the junior mining market for the last twenty-five years. It is the number one source of information for investment trends and ideas, covering all aspects of the natural resource industry.

Each year, the VRIC hosts over 60 keynote speakers, 350 exhibiting companies and 9000 investors.

Investment thought leaders and wealth influencers provide our audiences with valuable insights. C-suite company executives covering every corner of the mineral exploration sector as well as metals, oil & gas, renewable energy, media and financial services companies are available to speak one on one. This is a must-attend for investors and stakeholders in the global mining industry.

For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference

We look forward to seeing you there.

For further information:

Metallic Minerals Corp
Chris Ackerman
6046297800
chris.ackerman@metallic-minerals.com
www.metallic-minerals.com