US OTC: MMNGF Metallic Minerals Corp. Announces Start of $1.5 Million Exploration Program at Keno Silver Project in Yukon Territory, Canada
TSX-V: MMG
US OTC: MMNGF
Metallic Minerals Corp. Announces Start of $1.5 Million Exploration Program
at Keno Silver Project in Yukon Territory, Canada
May 30, 2017, Vancouver, B.C., Metallic Minerals Corp. (TSX -V: MMG; US OTC: MMNGF) (“Metallic
Minerals” or the “Company”) is pleased to announce the commencement of the 2017 field exploration season
at its flagship Keno Silver Project , a highly -prospective, district scale, brownfields exploration property
consisting of 112.5 square kilometres in the historic Keno Hill Silver District of Canada’s Yukon Territory.
The first phase of the program has been designed to highlight the most prospective targets for ne w
discoveries and to drill test the highest-priority targets later this summer. A comprehensive geologic
examination on the lesser explored portions of the property will also be completed including geophysics,
surface geochemical sampling and stratigraphic mapping.
Over 200 million ounces of silver have been mined in the Keno Hill silver district over the past 100 years at
an average grade exceeding 1,300 grams/tonne , making it one of the largest and richest silver producing
districts in the world. Keno type silver deposits consist of high -grade silver-lead-zinc veins typically 1 -5
metres in width, grading from 200 g/t to over 5,000 g/t silver 1. The largest individual deposits in the district,
which range from 10 million to 100 million ounces of contained silver, are associated with northeast trending,
southeast dipping fault/vein structures which form major ore shoots in the preferred quartzite and greenston e
host rocks.
Keno Silver Project – Homestake Target
Metallic Minerals Keno Silver Project covers the eastern portion of the district adjacent to, and on -trend with,
Alexco Resource Corp, one of the highest -grade primary silver operations in the world 2. There are twelve
known mineralized trends in the Keno Hill silver district, eight of which continue across Metallic Minerals’ land
package and occur in the same geologic settings that host the largest deposits in the district . The Keno
Silver Project has seven historic producing mines with some of the highest grades in the district including
four with average grades of over 5,000 g/t silver1. While several recent major discoveries have been made in
the Keno Hill silver district, the eastern portion of the district has seen little modern exploration due to the
longstanding, fragmented, private land ownership structure, which has now been largely consolidated by
Metallic Minerals.
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Metallic Minerals Chairman & CEO, Greg Johnson, stated, “ We have assembled a highly experienced
technical team with specific expertise in high -grade vein systems. Our technical team compiled and
reviewed decades of historic and modern geological data on the region and property in developing the 2017
program. The first phase of work will consist of targeted geophysical and geochemical surveys, stratigraphic
mapping, and trenching to further refine the identified priority targets. Phase 1 d rilling is expected to
commence upon completion of this initial exploration work and will focus on testing down-dip and along-strike
extensions of previously identified mineralization along the known mineralized trends, including at some of
the historic producing mines on the property . Additionally, the Company plans t o explore in other areas that
show significant potential to host Keno type deposits but that may not have seen historic focus due to soil
and vegetation cover. The Phase 1 drill program is anticipated to consist of 1000-1500 metres of drilling.”
In a news release dated March 6, 2017, Metallic Minerals provided a detailed overview of the 12 identified
exploration target areas on the Keno Silver Project based on the winter compilation program , including
specific geology, mineralization and historic activity. The initial focus of exploration in 2017 will be at the
Homestake, Silver Queen, Caribou and Faith targets, where the Company expects to conduct additional soil
sampling, trenching, and geophysics prior to the Phase 1 drilling. In parallel, other target areas on the Keno
Silver Project will be the focus of geologic mapping and surface sampling.
Mr. Johnson further stated, “ We are excited to have t he opportunity to have assembled such a prospective
block of brownfields exploration ground in one of the worl d’s most prolific, high -grade silver districts. This
year’s exploration program will be some of the first systematic , modern exploration in the eastern portion of
the Keno Hill silver district . We look forward to providing updates from the program results, as they become
available.”
About Metallic Minerals Corp.
Metallic Minerals Corp. is a growth stage exploration company, focused on the acquisition & development of
high-grade silver and gold in under-explored districts of mining -friendly jurisdictions proven to produce top -
tier assets. Our objective is to create value through a systematic, entrepreneurial approach to exploration,
thereby reducing investment risk and maximizing the probability for long-term success. Our core Keno Silver
project is located in the historic Keno Hill silver district of Canada's Yukon Territory, a region which has
produced over 200 million ounces of high -grade silver over the past 100 years and has excellent exist ing
infrastructure, including grid power, highway & road access, and two nearby communities with services.
Metallic Minerals is led by a team with a track record of discovery and exploration success, including large
scale development, permitting and project financing.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.metallic-minerals.com
Twitter: @metalminerals
Email: [email protected]
Phone: 604-629-7800
Toll Free: 1-888-570-4420
References
1Boyle, R.W., 1965. “Geology, Geochemistry, and Origin of the Lead -Zinc-Silver Deposits of the Keno Hill -- Galena Hill
Area, Yukon Territory”. Bulletin 111, Geological Survey of Canada. Cathro, R.J., 2006. “The History and Geology of the
Keno Hill Silver Camp Yukon Territory.” Geoscience Canada, Volume 33, Number 3.
2Alexco News Release: January 3, 2017: Alexco Expands Bermingham Indicated Resource to 17 Million Ounces Silver,
Remains Open.
Quality Assurance / Quality Control
Analytical work was done by Bureau Veritas Commodities Canada Ltd. with sample prep and geochemical analysis in
Vancouver, British Columbia. Each rock (grab) sample was analyzed for silver using a 30 -gram fire assay fusion with a
gravimetric finish (FA530-Ag). Gold was assayed using a 30 -gram fire assay fusion with atomic absorption spectroscopy
(AAS) finish (FA430). In addition, 34 other elements were analyzed using an Aqua Regia digestion with inductively
coupled plasma-atomic emission spectroscopy (ICP-AES) and inductively coupled Plasma -mass spectrometry (ICP-MS)
TSX-V: MMG
US OTC: MMNGF
(AQ-270). Over -limit lead and zinc samples have been analyzed by ICP MA410. All results have passed the QAQC
screening by the lab.
Qualified Person
Scott Petsel, P.Geo ., Vice President, Exploration and an employee of Metallic Minerals Corp., is a Qualified Person as
defined by National Instrument 43 -101. Mr. Petsel has reviewed the scientific and technical information in this news
release and approves the disclosure contained herein. Mr. Petsel has reviewed the results of the sampling program and
confirmed that all procedures, protocols and methodologies used in the drill program conform to industry standards.
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 Metallic Minerals 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.