Metallic Minerals Corp. Announces High-Grade Silver Samples and 3D Modelling At Its West Keno Targets on the Keno Silver Project Including Formo, Silver Queen and Duncan Creek
May 27, 2020 at 11:42 am EDT
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Metallic Minerals Corp. reported on exploration results and ongoing 3D modelling at the West Keno targets on its 100%-owned, 166 square kilometer Keno Silver project within the Yukon's high-grade Keno Hill silver district. These results focus on Keno Hill style high-grade silver-lead-zinc mineralization at the Formo, Silver Queen and Duncan Creek priority target areas. Future news releases covering the Keno Silver project will report results from sampling and on-going modelling work on the Central and East Keno target areas, which host additional priority exploration targets, that along with Keno West will be the focus of the next phases of drilling. Metallic Minerals' Keno Silver property is the second largest land position in the historic Keno Hill silver district directly adjoining the operations of Alexco Resources. The Keno Hill silver district is one of the world's highest-grade silver districts, with nearly 300 million ounces ("Moz") of silver in past production and current M&I resources and excellent existing infrastructure, including grid power, road access and nearby community services. Within the prolific, high-grade Keno Hill silver district, the western 12 kilometers ("km") of the 35 km wide district has seen the most intensive exploration and mining, including the major discoveries at the Bermingham and Flame & Moth silver deposits by Alexco Resources ("Alexco"). Recent reconnaissance drilling results from Alexco, announcing the discovery of the Inca deposit and the intercepted offset of the western extension of the Bermingham structural corridor, continue to demonstrate the remaining exploration potential in the district through a systematic exploration process along the productive mineralized trends. Metallic Minerals' holdings directly adjoin Alexco's operations and include 8 past producing deposits that were some of the highest-grade deposits in the district. These deposits had only very shallow surface mining mostly from the 1920s and 30s and represent excellent targets with modern exploration tools. The Company's holdings in the western Keno Hill silver district occur along extensions of major structural corridors that host the Silver King, Elsa, and Hector-Calumet deposits, which are some of the largest silver producers in the district. The figure also highlights the recent discoveries by Alexco at Bermingham, the western Bermingham extension, Inca and Flame & Moth. The largest deposits in the district are hosted primarily in the Keno Hill quartzite and Triassic greenstones along major structural corridors where the structural setting allows for the development of significant Keno Hill type high-grade silver- lead-zinc rich vein deposits. The schematic section shown on Figure 3 below, illustrates the major deposit locations along the Bermingham and Elsa trends, two of the most productive structural corridors. This figure also shows the similarity of the Silver Queen and Formo target areas to the stratigraphic and structural settings at the Bermingham and Sadie Ladue deposits. The Formo advanced stage target area hosts the historic Formo mine, which produced silver at various times since the 1930s from high-grade vein structures that graded an average of 5,092 g/t silver1. The majority of this historic production came from an open pit adjacent to the Silver Trail highway between the Elsa townsite and Keno City. At Formo a total of
1.2 km of exploration drifting on three levels were developed with connected vertical raises that outline silver-lead-zinc mineralization down to a depth of approximately 100 m from surface. Historic drilling included six diamond core holes (1,988m) along with 54 percussion holes. At least three vein structures, hosted primarily in greenstones below the main Keno Hill quartzite unit, have been identified at Formo in underground sampling, drilling and trenching. These structures are located two kilometres northeast of the historic Hector-Calumet mine, which was the largest silver producer in the district producing nearly 100 Moz of silver. The Formo deposit occurs along a splay of the Hector-Calumet structure where it intersects the Elsa structural trend, which was the second largest silver producer in the district. The deposit setting for Formo is geologically similar to the greenstone hosted Sadie Ladue mine (12.7 Moz of silver at 1,781 g/t Ag) and Keno Hill mine (12.6 Moz of silver at a grade of 1,520 g/t Ag), two of the district's highest grade deposits.
Metallic Minerals Corp. is a Canada-based exploration and development stage company. The Company is focused on copper, silver, gold and other critical minerals in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon. Its flagship Keno Silver project is a 100%-owned, brownfields property consisting of 171 square kilometers (km2) in the historic Keno Hill Silver District of Canadaâs Yukon Territory. The La Plata project covers 44 km2 within the high-grade La Plata mining district located at the southwest end of the prolific Colorado Mineral Belt. The Company holds 100% interest in 26 miles (36.4 km2) of creek and bench mining rights along the Australia Creek drainage, in the Klondike gold district near Dawson City, Yukon. It owns 100% interest in mining rights consisting of 10 claims totaling one mile (1.6 kilometers) along a bench of Dominion Creek, in the Klondike gold district near Dawson City, Yukon.
Metallic Minerals Corp. Announces High-Grade Silver Samples and 3D Modelling At Its West Keno Targets on the Keno Silver Project Including Formo, Silver Queen and Duncan Creek