Metallic Minerals – Maiden Resource Estimate At La Plata Comes Out Near 116 Million Tonnes Copper Equivalent
Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins us to outline the NI 43-101 compliant Maiden Resource Estimate at the La Plata project near Durango, Colorado, that was just announced today. The resource estimate came in at 115.7 million tonnes at an average grade of 0.39% copper equivalent (0.35% Cu and 4.02 g/t Ag) using a 0.25% Cu Eq cut-off grade. Scott mentioned that if this copper equivalent resource was converted to silver equivalent, then it would come in near 200 million ounces of silver, just for investors to have that perspective.
After the prior 56 historic drill holes worked on by Rio Tinto and Freeport, many of which have been resampled, in combination with the 2,000 meters of confirmation drilling completed by Metallic Minerals last year, and this all lead led towards bulking up to an initial resource in fairly short order since acquiring the project in 2019. The main focus of drilling at La Plata has been at the Allard target and even inside the Allard Tunnel, but because porphyries occur in clusters, the exploration team also is optimistic that more porphyry centers will be found with 16 other targets identified from prior geophysics studies, for future drilling on their district-scale land package. In addition there are some very encouraging gold & silver vein target all over the property that exploration team will be focusing on as drilling picks back up in the second half of 2022.
Next we transition over to the Keno Silver Project in the Yukon, discussing some of the successful drill results returned from the Central Keno Area at the Caribou and Formo targets, as well as the big picture exploration strategy for 2022 with more drilling at Caribou, Homestake, and Keno East that show promise at depth. The company will be releasing the exploration plans for both the Keno Silver project and the La Plata project in the near future.
If you have any follow up questions for Scott on Metallic Minerals, then please email us at either Fleck@kereport.com or Shad@kereport.com.
The company will also be hosting a webinar tomorrow Wednesday the 27th and investors can register here at this link:
https://us02web.zoom.us/webinar/register/WN_O0OBsnknTry9akkqgRytfQ
Click here for a summary of the recent news out of Metallic Minerals.
I like the gold/silver/copper this company offers. Reminds me of Auryn Resources before they split the company up with less jurisdiction risk.
Good analogy Charles. In this case, Metallic Minerals is operating in better jurisdictions though with the mix of silver/copper/gold, because they are in the Yukon, Colorado, and the Klondike area (with their alluvial gold project that wasn’t discussed in this interview).
Welcome back Ex!
Thanks Charles. It’s good to be back at it, after a nice trip out into the wilderness.
Scott mentioned that if this copper equivalent resource was converted to silver equivalent, then it would come in near 200 million ounces of silver, just for investors to have that perspective.
200 million oz of silver equivelent
16 porphyry center targets
Keno East and West with all their drilling and upside
Alluvial properties about to generate cashflow
All for thirty cents USD
Very nice to see such a large copper resource (with silver & gold) at La Plata announced today, and it moves their project in Colorado to one as big in size and scale as the Keno Silver project in the Yukon, so maybe the market will finally start valuing both projects more fairly.