Metallic Minerals – Update On Klondike Alluvial Gold Royalties And First Phase Drill Program At La Plata Copper-Silver-Gold-PGE Project In Colorado
Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins us from the Invest Yukon conference in Dawson City after giving a series of investor property tours out to its Australia Creek gold alluvial royalty property in the Klondike Gold District. Currently the primary operator working these claims towards production is Little Flake Mining, a company owned and operated by Parker Schnabel of Discovery Channel‘s top-rated television series, “Gold Rush.” Work is well underway with initial production and first royalty payments anticipated to start August. This ties into a larger discussion on how there could be room for 10 operators along their vast alluvial land claims, resulting in more future royalties, which could bring in more revenues to fund exploration at both the Keno Silver and La Plata Projects.
On July 11th the Company announced the start of the 2023 exploration and 5,000 meter drill campaign at the La Plata copper-silver-gold-PGE alkalic porphyry project, located in southwest Colorado. Scott outlined how the exploration work will be following up and stepping out from last year’s successful deeper drill hole# 22-04 hole which intersected 816 meters of 0.41% Cu Eq (0.30% Cu, 2.47 g/t Ag, 0.038 g/t Au, 0.055 g/t Pd and 0.093 g/t Pd) from surface and ended in 5.39% CuEq over 5.2 m (2.44% Cu, 18.7 g/t Ag, 5.0 g/t Au+PGE). This hole generated more interest in this project from larger companies, and lead to the announcement on May 18th of the $6.3 million strategic equity investment by Newcrest Mining Limited to further advance the La Plata Project.
We wrapped up reviewing the key news catalysts on tap, where Scott mentioned the upcoming resource update and ongoing drilling and assays to report over the next few months at La Plata, the royalty production and revenue updates due out later in the summer from Australia Creek, and the coming inaugural resource estimate at the Keno Silver Project later in the year.
If you have any follow up questions for Scott on Metallic Minerals, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Metallic Minerals.