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    MMG   CA59126M1068

METALLIC MINERALS CORP.

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

06/09/2021 | 12:26pm EST

Metallic Minerals announced the mobilization of its exploration team for the start of the 2021 drilling and exploration campaign at the Company’s 100% owned, 166 square kilometer Keno Silver project, located adjacent to Alexco Resource Corp’s high-grade mining operations in the historic Keno Hill silver district of Canada’s Yukon Territory. A multi-rig drill program of at least 10,000 meters is planned with a focus on expansion drilling at advanced-stage targets in addition to follow-up drilling at recent discoveries and initial reconnaissance drilling at several earlier-stage multi-kilometer-scale soil and geophysical targets. The planned 2021 drill campaign will be the large conducted on the Keno Silver project to date, with an expected 50-75 holes to be completed at multiple priority targets in each of the East, Central and West Keno areas. Expanded soil and geophysical surveys are also planned to aid in refinement and prioritization of reconnaissance drill targets in several untested target areas. East Keno Target Area: The 2021 program has been designed to build on the success of the 2020 program, which effectively expanded the known extent of drill-defined mineralization by 10 kilometers to the east and demonstrated the potential for major new discoveries in this underexplored part of the district. As announced in February, results from discovery drilling at East Keno included initial tests of multi-kilometer-scale soil anomalies that correspond with large geophysical magnetic low features the Company believes may represent magnetite destructive alteration zones or proximal, buried mineralizing intrusive bodies. Mineralization and structure were intercepted in 26 of 30 holes and revealed the presence of high-grade Keno-style, vein-hosted silver within broad continuous zones of potential bulk-tonnage silver mineralization. This geologic setting is potentially similar to that hosting some of the world’s large bulk-tonnage silver deposits, including Newmont’s Peñasquito, Fortuna’s Caylloma, and SSR’s Chinchillas deposits, which are hosted in breccia, fracture, and stockwork structural zones, as well as higher-grade sheeted veins and structures, and are associated with proximal source intrusives and volcanics. The results from the shallow East Keno drilling completed to date are similar in tenor to the silver grades of these model deposits and share a number of common geologic characteristics. Drilling in 2021 will follow up on the results from the first phase of wide-spaced RC drilling at East Keno stepping out along strike and down dip of those significant drill-based discoveries to begin to determine the potential width, depth and extensions along these new trends as well as potentially investigate the source of mineralization. The initial shallow drill holes completed in 2020 tested just a small portion of the multi-kilometer soil and geophysical anomalies with additional drill holes planned along this mineralized trend within broad areas of brecciation and pervasive silicification.


© S&P Capital IQ 2021
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Financials
Sales 2020 - - -
Net income 2020 -3,22 M -2,52 M -2,52 M
Net cash 2020 1,30 M 1,02 M 1,02 M
P/E ratio 2020 -17,9x
Yield 2020 -
Capitalization 65,8 M 51,4 M 51,6 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 74,7%
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Managers and Directors
Gregory Shawn Johnson Chairman, President & Chief Executive Officer
Rebecca Moriarty Chief Financial Officer
Gregor Hamilton Independent Non-Executive Director
Peter William Harris Independent Director
Douglas Dale Warkentin Independent Director
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