Metallic Minerals Corp. (TSX-V: MMG / OTCQB: MMNGF) (Metallic Minerals) is a growth stage company focused on the exploration and development of copper (Cu), silver (Ag), gold (Au), platinum (Pt), palladium (Pd), lead (Pb) and zinc (Zn) 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. The Company is led by a team with a track record of discovery and exploration success, including large-scale development, permitting and project financing.
In May 2023, Metallic Minerals completed a 9.5% strategic equity investment by Newmont Mining (Newmont), with a focus on advancing the Company’s La Plata project, located in the high-grade La Plata district of the prolific Colorado Mineral Belt. In July 2023, Metallic Minerals announced and updated NI 43-101 Inferred Mineral Resource Estimate for the project, consisting of 1,211 million pounds (Mlbs) Cu and 17.6 million ounces (Moz) Ag within the central Allard Cu-Ag porphyry deposit.1 The update was largely based on drill hole LAP22-04, announced in February 2023,which intercepted 816.0 meters (m) of 0.41% recovered copper equivalent (CuEq)(0.30% Cu, 2.47 g/t Ag, 0.04 g/t Au, 0.06 g/t Pt and 0.09 g/t Pd)in a hole that ended in 5.2 m of 5.39% CuEq (2.44% Cu, 18.7 g/t Ag, 0.47 g/t Au, 1.76 g/t Pt and 2.78 g/t Pd).2 An updated Mineral Resource Estimate, likely to include new metals, Pt, Pd and Au, is expected in 2025 based on 4,530 m of resource expansion drilling completed in Fall 2023. The project was further advanced in 2024 with target refinement and enhancement activities that included surface mapping and soil and rock sampling on several high priority targets within the 10 Sq Km footprint of the alkalic porphyry system.
Our Keno Silver project is in the historic Keno Hill Silver District of Canada's Yukon Territory, a region which has produced over 200 Moz of Ag3 and currently hosts one of the world’s highest-grade Ag resources. An inaugural Inferred Mineral Resource Estimate was announced in February 2024 totaling 18.2 Moz AgEq grading 223.0 g/t AgEq (120.0 g/t Ag, 0.10 g/t Au, 0.80% Pb and 1.77% Zn).4 The property adjoins Hecla Mining Company's (NYSE: HL) (Hecla) high-grade Keno Hill mines. As the largest primary Ag producer in the US and third largest in the world, Hecla’s organizational strength, strong balance sheet and expertise in underground mining will allow for continued buildout of Keno Hill and will underpin value for significant investment in exploration across the district.
Metallic Minerals is also one of the largest owners of alluvial Au mining claims in the Yukon Territory and we are building a portfolio of Au royalties in the historic Klondike Gold District. The company has realized royalty revenue from alluvial Au production in 2023 and 2024 and is seeking new operators for its significant additional claim holdings with royalty revenue expected to increase in 2025.
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