METALLICA MINERALS LIMITED METALLICA MINERALS LIMITED | ASX:MLM
QUARTERLY REPORT
DECEMBER 2021
Metallica Minerals Quarterly Report
ASX
RELEASE
31 December 2021 Quarterly Report
19 January 2022
Metallica Minerals Limited an Australian resource development company, focused on becoming a Silica Sands producer.
ASX: MLM
Metallica Minerals Limited (ASX: MLM) ("Metallica", "the Company") is pleased to present its activities report for the quarterly period ending 31 December 2021.
Directors
Theo Psaros - Executive Chairman
Brad Sampson - Non-Executive Director
Mark Bojanjac - Non-Executive Director
Senior Management
Scott Waddell - CFO & Company Secretary
Nicholas Villa - General Manager,
Cape Flattery Silica Sand Project
CORPORATE
AS AT 31 DECEMBER 2021
Issued Capital
568,023,140 Ordinary Shares
130,678,964 Listed Options
8,160,000 Unlisted Options
Shareholders
1,442 shareholders
Top 20 shareholders hold 46.8%
Largest Shareholders
Ilwella Pty Ltd - 19.6%
Dostal Nominees Pty Ltd - 6.1% Rookharp Capital Pty Lmited - 3.1%
Cash Balance
As at 31/12/2021, MLM's cash balance was approximately $5.1m
Website
metallicaminerals.com.au
A short video presentation on our Cape Flattery Project is available on our website.
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KEY EVENTS
Updated Scoping Study completed showing an NPV8 before tax of $253m (refer to table 1)
Native Title Negotiation Protocol document was finalised
$5.1 million in cash is available at quarter end, with no debt
40% increase to 53.5Mt Resource at the Cape Flattery Silica sand Project (refer to table 2)
Sale of unmarketable shares was completed
24 hole infill drilling program completed at Cape Flattery Silica sand Project
PFS team visited CFS project
Metallica Minerals Quarterly Report
DEVELOPMENT & EXPLORATION CAPE FLATTERY SILICA SANDS
MLM
Interest
100%
The Cape Flattery Silica Project is adjacent to the world class Cape Flattery Silica Sand mining and shipping operation owned by Mitsubishi.
During the December 2021 quarter, a third infill drilling program was successfully completed. The twenty-four (24) hole drilling program hole depths averaged approximately 16m with a maximum depth of 36m being drilled in hole CFS142 (see figure 1). These holes were drilled within the CFS Mining Lease Application area (MLA) using a vacuum-based drill rig (see figure 2). The combined database for the CFS Project now comprises 144 drill holes comprising approximately 2,000m of drilling.
High purity silica sand was intersected in 17 of the 24 holes with the high-grade sand occurring consistently as predicted by the resource model. The infill drilling indicates that the existing geological model is robust. The chip tray samples from hole CFS142 (being 36m in depth), is shown in figure 3 below. This sample shows a high proportion of clean white sand.
Figure 1: Drill hole location map in the Project's resource area, with Metallica's December 2021 drill holes shown in dark green and the prior program drill holes shown in red
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Metallica Minerals Quarterly Report
Figure 2: Photo of Yearlong Contractors vacuum-based drill rig working at CFS project
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Metallica Minerals Limited published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 21:14:18 UTC.
