US OTC: MMNGF Metallic Minerals Completes 2020 Exploration Programs at Keno Silver Project in Yukon, Canada with New High-Grade Keno-Style Sulphide Discoveries
TSX-V: MMG
US OTC: MMNGF
Metallic Minerals Completes 2020 Exploration Programs at Keno Silver Project in Yukon, Canada
with New High-Grade Keno-Style Sulphide Discoveries
December 10, 2020, Vancouver, B.C., Metallic Minerals (TSX.V: MMG | US OTC: MMNGF) (“Metallic Minerals” or the
“Company”) is pleased to announce completion of its 2020 field exploration programs in the Keno Hill silver district
and earlier stage McKay and Silver Hill properties to the north of Keno Hill. Exploration on the Keno Silver project
included a multi-phase drill program which began in August involving two drill rigs which completed a total of 5,318
meters (17,500 ft) in 42 drill holes.
The first phase of the drill program utilized a track-mounted reverse circulation (“RC”) drill to complete 30 drill holes
within a number of the new multi-kilometer-scale anomalies discovered in 2019 at the East Keno and Central Keno
target areas. The second phase consisted of 12 diamond drill holes totaling 2,674 meters (8,772 ft). These holes focused
on expanding areas of known mineralization through step out drilling at the advanced-stage target areas in the West
Keno area, including the Formo and Silver Queen targets. In addition, five reconnaissance reverse circulation drill holes
were completed at the McKay Hill project targeting two recently identified major structural corridors within kilometric-
scale soil and rock anomalies.
Metallic Minerals’ 166 square kilometer Keno Silver project is the second largest land position in the historic Keno Hill
silver district, directly adjoining the operations of Alexco Resource Corp. Keno Hill is one of the world’s highest-grade
silver districts, with nearly 300 million ounces of silver in past production1 and current M&I resources2, with excellent
existing infrastructure, including grid power, road access and nearby community services.
Exploration Highlights
The 30 RC holes drilled by the Company this year are the first drill holes ever completed in the eastern continuation of
the Keno Hill silver district and extend the area of prospective Keno style high-grade silver-lead-zinc mineralization by
approximately 10 kilometers to the east.
Earlier-stage target refinement work over the past two years in the less explored portions of the district identified 12
new multi-kilometer-scale early-stage exploration targets through soil sampling and extensive surface and aerial
geophysical surveys. The largest of these highly anomalous targets extends over 5 kilometers in length and up to 2
kilometers in width exceeding 100 g/t silver equivalent (“Ag Eq”) in soils and that directly overlie intense magnetic low
features interpreted to be magmatic systems as potential sources of the mineralization.
Geologic observations from these first wide-spaced reconnaissance drill holes indicate the presence of multiple Keno
style sulphide mineralized zones that occur within large-scale structural corridors. Assay results are pending and are
anticipated to be received over coming weeks.
The second phase of drilling commenced in September and included 12 diamond core holes completed at the
advanced-stage Formo and Silver Queen targets in the West Keno target area along extensions of the Bermingham and
Elsa structural corridors3. This drilling was focused on expanding the areas of known mineralization in the historic
resource area and was follow-up to underground channel samples at the Formo target area that show three high-grade
mineralized shoots grading more than 1,000 g/t Ag Eq grade that remain open to expansion. These step out drill holes
were successful in intercepting Keno style sulphide mineralization along the targeted structures and assay results are
pending.
Metallic Minerals CEO & Chairman, Greg Johnson, stated, “We are very pleased to have been able to conduct the most
robust drill focused program at the Keno Silver project in our relatively short history in a safe and healthy manner
following all recommended protocols for COVID-19. With the confirmation in drilling of multiple zones of Keno style
sulphides and significant structures in these first ever drill holes at Keno East, this program has opened a huge area of
prospective stratigraphy for exploration to the east of the Keno Hill mine. In addition, results at the advanced-stage
targets continue to expand the areas of known high-grade silver mineralization. All material from our 2020 program
has been sent to labs for analysis and our technical team is beginning the work of compilation and interpretation. We
expect initial results from drilling and surface sampling to be received by Q1 2021. We also anticipate announcement
of results from our programs this year at the La Plata silver-gold-copper project in Colorado, USA, as that program
begins wrapping up the 2020 season.”
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TSX.V: MMG | US OTC: MMNGF
Metallic Minerals further announces that, further to the finders’ fees noted in the news release dated November 26,
2020, Canaccord Genuity Corp. was issued 51,948 FT common shares in connection with their engagement as a financial
advisor in the non-brokered private placement private placement of 3,896,104 flow-through common shares.
About the Keno Silver Project
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. The project
includes eight high-grade, shallow past-producing mines that have yet to be subjected to modern exploration due to
previously unconsolidated land ownership. Along the known, historically productive trends in the central and western
parts of the district, the Company has advanced three targets to step-out drilling stage and several additional targets
to drill-ready status. In addition, recent exploration has defined 12 new priority multi-kilometer-scale early-stage
targets for reconnaissance drilling in the under-explored eastern and southern 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.metallic-minerals.com Phone: 604-629-7800
Email: [email protected] Toll Free: 1-888-570-4420
Footnote References
1 Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada,
Sept. 2006. ISSN 1911-4850
2 Alexco Resource Corp, NI 43-101 Technical Report “Prefeasibility Study of the Keno Hill Silver District Project, Yukon, Canada”, Feb.13,
2020
3 Alexco Resource Corp news release, January 21, 2019, “Alexco 2018 reconnaissance drilling confirms continuation of Bermingham
mineralization at depth and identifies an offset extension, identifies gold targets”
References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent
or nature of mineralization or potential future results of the Company’s projects.
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
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.