Metallic Minerals – Exploration Strategy To Expand Copper Resources At The La Plata Project
Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins us to outline the exploration strategy for 2022 to expand the copper resources and make new discoveries at the La Plata Project near Durango, Colorado. Earlier this year the Company announced the NI 43-101 compliant Maiden Resource Estimate at 985 million lbs of copper, 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.
The goal of this 3,000 meter drill program is to step out 100 to 150 meters from the Allard Target to keep expanding the inferred resource; but also to test a number of new potential copper porphyry targets, to see what other systems may be present across the large consolidated land package. 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.
Next we transition over to the Keno Silver Project in the Yukon, discussing the ongoing 3,000 meter drill program at 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. We wrap up with the financial strength of the company, with $7 million in the treasury as of the end of Q2, after recent private placements and flow through capital was raised earlier in the year.
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.