Metallic Minerals – Exploration Update At The Keno Silver Project And The Significance Of The Alexco Takeover By Hecla For The Keno Silver District
Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins us for his take on the significance of the recent news of Hecla Mining (NYSE: HL) acquiring Alexco Resource Crop (NYSE: AXU) to the Keno Hill silver district in the Yukon. We start off by noting the good work Alexco did in defining a high-grade silver resource that was attractive enough to incentivize a larger producer to enter the district and acquire the project. Next, I asked Scott about what options this could give Metallic Minerals at their Keno Silver Project as far as a potential takeover partner, toll milling options, or if they were more interested in seeking out another larger producer to partner with on their project. Scott outlined that they would do what was most accretive for value creation for shareholders, but that there are a number of potential options on the table.
Next we reviewed some of the key exploration targets at the 3 Project areas: high grade intercepts from the Formo target at Keno West, the broad bulk tonnage style intercepts at Fox, UKHM, and Zone 2 targets at Keno East, as well as the Caribou target in the Central Keno Area. We review the big picture exploration strategy for 2022 as being focused on resource drilling with the plan to compile the last few years programs into a maiden resource for next year, but also balanced with true blue-sky discovery drilling at many of the prospective targets on their 35km mineralized trend.
We then transitioned down to the exploration plans for 2022 at the La Plata project near Durango, Colorado. There are 16 different potential copper-rich porphyry centers that the exploration team wants to test at La Plata, as well as following up on the higher-grade gold/silver epithermal vein systems, to continue making discoveries and adding to existing resources. We wrapped up getting an update on deals being made at the Klondike Gold District alluvial operations, where some of those are moving towards a small production scenario.
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.