Metallic Minerals Launches 10,000+ meter Drill Program at Keno Silver Project in Yukon, Canada
TSX.V: MMG | OTCQB: MMNGF
Metallic Minerals Launches 10,000+ meter Drill Program at Keno Silver Project in Yukon, Canada
June 9, 2021, Vancouver, B.C., Metallic Minerals (TSX.V: MMG | US OTCQB: MMNGF) (“ Metallic Minerals”, or the
“Company”) announces the mobilization of its exploration team for the start of the 2021 drilling and exploration
campaign at the Company’s 100% own ed, 166 square kilometer Keno Silver project, located adjacent to Alexco
Resource Corp’s high -grade mining operations in the historic Keno Hill silver district of Canada’s Yukon Territory. A
multi-rig drill program of at least 10,000 meters is planned with a focus on expansion drilling at advanced-stage targets
in addition to follow- up drilling at recent discoveries and initial reconnaissance drilling at several earlier- stage multi-
kilometer-scale soil and geophysical targets.
The planned 2021 drill campaign will be the largest conducted on the Keno Silver project to date, with an expected 50-
75 holes to be completed at multiple priority targets in each of the East, Central and West Keno areas. Expanded soil
and geophysical surveys are also planned to aid in refinement and prioritization of reconnaissance drill targets in several
untested target areas.
East Keno Target Area
The 2021 program has been designed to build on the success of the 2020 program, which effectively expanded the
known extent of drill- defined mineralization by 10 kilometers to the east and demonstrated the potential for major
new discoveries in this underexplored part of the district. As announced in February, results from discovery drilling at
East Keno included initial tests of multi-kilometer-scale soil anomalies that correspond with large geophysical magnetic
low features the Company believes may represent magnetite destructive alteration zones or proximal, buried
mineralizing intrusive bodies. Mineralization and structure were intercepted in 26 of 30 holes and revealed the
presence of high-grade Keno-style, vein-hosted silver within broad continuous zones of potential bulk -tonnage silver
mineralization.
This geologic setting is potentially similar to that hosting some of the world’s largest bulk-tonnage silver deposits,
including Newmont’s Peñasquito, Fortuna’s Caylloma, and SSR’s Chinchillas deposits, which are hosted in breccia,
fracture, and stockwork structural zones, as well as higher-grade sheeted veins and structures, and are associated with
proximal source intrusives and volcanics. The results from the shallow East Keno drilling completed to date are similar
in tenor to the silver grades of these model deposits and share a number of common geologic characteristics.
Figure 1 – East Keno Long Section
Drilling in 2021 will follow up on the results from the first phase of wide-spaced RC drilling at East Keno stepping out
along strike and down dip of those significant drill-based discoveries to begin to determine the potential width, depth
and extensions along these new trends as well as potentially investigate the source of mineralization. The initial shallow
drill holes completed in 2020 tested just a small portion of the multi-kilometer soil and geophysical anomalies with
additional drill holes planned along this mineralized trend within broad areas of brecciation and pervasive silicification.
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West Keno - Formo Target Area
In April, the Company announced the results from drilling at the advanced-stage Formo target, in the West Keno area,
where diamond drill holes intercepted very high-grade Keno-style silver mineralization that remains open to expansion
in all directions. Highlight results include 4.1m at 2,536 g/t silver equivalent (“Ag Eq”) at 96 m depth including 3m at
3,425.9 g/t Ag Eq (1,568 g/t Ag, 29.45% Pb and 15.35% Zn). Formo is located at the intersection of a north -easterly
structural zone extending from the Hector- Calumet mine, which was the largest producer in the district producing
nearly 100 million ounces of silv er1, and the Elsa structural trend, which was the second largest silver producer in the
district. The historical Formo mine produced silver at various times since the 1930s from high -grade vein structures
that graded an average of 5,092 g/t silver 1. The ma jority of this historic production came from an open pit located
alongside of the Silver Trail highway between the Elsa townsite and Keno City.
In addition to the mineralization at the known Formo deposit, two new surface targets have been identified along the
same structural corridors within parallel greenstone sills. The 2021 drill program at Formo will aim to significantly
expand the known mineralization defined from underground sampling and historic and recent drilling, as well as to
potentially define new high-grade deposits along the main mineralized structural corridor.
Figure 2 – Formo Long Section
Central Keno – Caribou & Homestake
In addition to work at Formo, continued expansion drilling at the advanced stage Caribou and Homestake targets is a
top priority to support potential development of an initial resource estimate at the Keno Silver project. Highlight results
from the Caribou deposit include 1.6 m @ 2,851 g/t Ag Eq (1,405 g/t Ag, 26% Pb, 3.7% Zn, and 0.28 g/t Au) and 1.4 m
@ 2,257 g/t Ag Eq (1,696 g/t Ag, 9.4% Pb, 0.94% Zn and 0.85 g/t Au). There are more than 50 mineralized intersections
at Caribou and the deposit remains open to expansion to the south, north and down dip. In addition, drilling will test
the newly developed high-level silver-in-soil anomaly that extends for 2 km south of the drill defined mineralization.
Metallic Minerals Chairman & CEO, Greg Johnson, commented: "We are excited to launch our 2021 field programs in
the Keno Hill silver district with our largest explorati on campaign to date on the project at over 10,000 meters. This
multi-rig drill program will focus on expansion drilling at several advanced-stage targets and follow-up drilling at recent
discoveries, along with initial reconnaissance drilling at several priority untested multi -kilometer-scale soil and
geophysical targets. The Keno Hill silver district stands out as one of the world’s highest -grade, near- surface silver
producing regions with operating mines, roads, power and infrastructure in place within a top-rated mining jurisdiction.
Metallic Minerals is well-positioned to make significant new discoveries and to build high-grade silver resources on its
district scale land position during this period of rising silver prices within this major new bull marke t commodity cycle.
With the early start of this year’s drill program, assay results should be released throughout the summer as they
become available. We look forward to the exciting exploration season ahead as well as providing additional updates
including with respect to exploration at our La Plata silver -gold-copper project in Colorado, USA and our alluvial gold
royalty portfolio in the Klondike gold district.”
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COVID-19 Protocols
Metallic Minerals has worked closely with the Yukon government to develop a COVID -19 safety plan that enables the
Company to implement an effective work plan while maintaining the highest degree of safety of our workers and
surrounding communities. The Company strictly adheres to mandates put in place by health authorities at the Federal
and Territorial government level and hold the health and safety of our workers, and the citizens of the communities in
which work in the highest regard.
About the Keno Silver Project
Keno Hill is one of the world’s highest -grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past
production and current M&I resources 1,2 and featuring excellent existing infrastructure, including grid power, road
access and nearby community services. Exploration by Metallic Minerals at the Keno Silver project continues to
systematically build on the Company’s 3D geologic database covering the east, central and western portions of the
prolific Keno Hill silver district, and includes 8 high-grade, shallow past-producing mines that have yet to be subjected
to modern exploration due to previously unconsolidated land ownership. The Company has advanced three targets in
the central and western parts of the district to step-out drilling stage and several additional targets to drill-ready status
along the known historically productive trends. In addition, recent exploration has refined and expanded 12 new
priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored eastern and western
parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.
About Metallic Minerals
Metallic Minerals Corp. is a growth stage exploration company, focused on high-grade silver and gold in underexplored
brownfields mining districts. Our objective is to create shareholder value through a systematic, entrepreneurial
approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district
through new discoveries and advancing resources to development. All three districts have seen significant mineral
production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a
track record of discovery and exploration success on several major precious and base metal deposits, as well as having
large-scale development, permitting and project financing expertise.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of
large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of
silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-
grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater
PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders
and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s
leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic
approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-
explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies
are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.metallic-minerals.com Phone: 604-629-7800
Email: [email protected] Toll Free: 1-888-570-4420
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical facts including, without limitation, statements regarding potential
mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior
exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future
resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of
exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking
statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of
material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements
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include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be
refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general
economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and
equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated
environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to
time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral
reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business.
Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on
Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.