Metallic Minerals Corp. (TSX-V: MMG / OTCQB: MMNGF) is a growth stage company focused on the exploration and development of silver, gold and copper 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 Newcrest Mining, with a focus on advancing the Company’s La Plata project in Colorado.
The La Plata copper-silver-gold project is located in the high-grade La Plata district of the prolific Colorado Mineral Belt. In July 2023, Metallic announced and updated NI 43-101 mineral resource estimate for the La Plata project, consisting of 1,211 million pounds of copper and 17.6 Moz of silver within the central Allard copper-silver porphyry deposit. The update was largely based on drill hole 22-04, announced in February 2023, which intercepted 816 meters of 0.41% Recovered Copper Equivalent (“CuEq”) in a hole that ended in 5.4% Cu with 47 g/t silver and 11 g/t gold+PGEs. The 2023 drilling and exploration program at La Plata is underway.
Our 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. On July 5, 2022, Hecla Mining Company (NYSE: HL) announced the acquisition of Metallic's adjacent neighbour and operator of the high-grade Keno Hill mines, Alexco Resource Corp. As the largest primary silver 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 is also one of the largest owners of alluvial gold mining claims in the Yukon Territory and we are building a portfolio of gold royalties in the historic Klondike Gold District. In January 2023 the Company announced a partnership with Little Flake Mining (Parker Schnabel of Gold Rush TV fame), who will be granted exclusive rights to extract gold from the Australia Creek property, with Metallic Minerals receiving a percentage of the production as a royalty.