US OTC: MMNGF Metallic Minerals Makes Multiple Vein Discoveries in New Mineralized Zones at the McKay Hill Project, Yukon Territory
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US OTC: MMNGF
Metallic Minerals Makes Multiple Vein Discoveries in New Mineralized Zones
at the McKay Hill Project, Yukon Territory
September 17, 2018, Vancouver, B.C., Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic
Minerals” or the “Company”) is pleased to provide an update on the 2018 field season at its 100%-owned McKay Hill
silver and Keno silver projects. Work at McKay Hill was highlighted by the discovery of numerous new mineralized
vein structures. Among this year’s priority target areas was the historically identified Central Zone. As a result of this
year’s findings, an additional 42 claims were staked on new, highly-prospective ground expanding the property to 44
square kilometers (km2).
Following up on the success of the 2017 season (results announced October 24, 2017), the 2018 field exploration
program at McKay Hill was designed to:
• advance existing high-grade Ag-Au-Pb-Zn targets on the Central Zone ridge, including the seven recognized
vein structures, to a drill-ready stage; and
• investigate recently identified target areas outside the Central Zone for potential new discoveries based on
anomalies from high-resolution satellite orthophotography, geophysics and geochemistry.
Exploration activities at McKay Hill began with a broad reconnaissance of the property focused on the recently
identified target areas. This led to discoveries of several new vein structures that had not been previously recognized
on the project. These new discoveries include the Bella, Red, Falls and Snowdrift NE Extension Zones and, along
with the previously identified Central and Independence Zones, comprise six priority target areas for future work
(Figures 1 and 2). Each of these target areas is defined by multiple vein occurrences, with the Central Zone being
the most expansive zone of mineralization identified to date.
Following this broader reconnaissance of the property, exploration efforts focused on characterizing and quantifying
the areas of identified mineralization through detailed geologic mapping, soil grid sampling and rock and trench
sampling. Mapping was aided by collaboration with the regional mapping experts of the Yukon Geologic Survey who
confirmed the regional prospectivity of the host rocks. Over 700 soil samples were collected across nine widespread
grids on the McKay Hill property and 16 trenches were completed, testing both known and new mineralized structures
and their potential vein-to-vein intersections. Soil, trench and rock samples have been submitted for laboratory
analysis.
Further exploration activities focused on extending the known strike length of the recognized vein structures and
advancing the more well-defined vein occurrences in the Central Zone target area to a drill-ready stage. This work
demonstrated that the historically productive No. 6 Vein Corridor, which was the area of past production on the
property, is part of a much larger vein stockwork zone than had been previously recognized and is now interpreted
to be up to a kilometer long by 250-meter-wide mineralized corridor which is open to expansion at both ends (Figure
3). The northeast-trending No. 6 Vein Corridor consists of widespread, near-vertical high-grade silver-bearing
massive sulfide veins. Where these veins intersect with numerous NNE trending gold and copper enriched veins, the
combined silver and gold values can be very significant. To date, the highest assay (from surface sampling) comes
from the intersection of the No. 6 Vein Corridor with the North vein, reporting up to 988 g/t Ag and 24.4 g/t Au during
the 2017 field season. Final assay results from the 2018 program are pending.
About the McKay Hill Project
The 100% owned McKay Hill Project covers 44 km2 within a belt of silver-lead-zinc related deposits that stretch from
the Alaska border to the southern part of the Yukon and includes the famous Keno Hill Silver District, approximately
50 kilometers to the south. McKay Hill is a historic high-grade producer that shows potential to host a significant
district scale vein system similar to Keno Hill, with at least 16 identified vein structures that have seen very limited
modern exploration. McKay Hill was discovered and initially explored in the 1920s with selective mining in the 1940s
producing 143 tonnes of high-grade material from the No. 6 Vein Corridor area, grading 390.8 g/t Ag and 74.1% Pb.1
Historic surface sampling at McKay Hill returned high-grade silver, lead and zinc mineralization associated with vein
structures. More recent field work conducted by Metallic Minerals has confirmed these historic high grades of silver,
lead and zinc and also demonstrated the presence of significant associated gold and copper values. Exploration in
2017 yielded surface sampling results with up to 988 g/t silver and 24.4 g/t gold.
1Geological and Geochemical Evaluation Report on the McKay Hill Project, Jean Pautler, P.Geo. JP Exploration Services Inc., 2009
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Figure 1: Map showing identified target areas and new claims at the McKay Hill Project
Figure 2: Map showing new 2018 vein discoveries and extended No. 6 vein corridor at the McKay Hill Project
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Keno Silver Project Exploration Update
In June Metallic Minerals initiated its 2018 exploration program on Keno Silver Project, located in the prolific Keno
Hill Silver District. The 2018 exploration program was designed to focus on a combination of target development,
refinement and step-out drill testing along ten of the known mineralized trends traversing Metallic Minerals’ holdings
in the District. The Company is focused on identifying and rapidly advancing the most prospective targets toward
resource definition.
Building on the successful exploration and drill campaigns of 2017, exploration activities at the Keno Silver Project
prioritized three stages of targets:
1. Resource Delineation Stage Targets – Continued step-out drilling on the identified resource delineation
targets at Caribou, Homestake and Formo (pending permits) to determine the potential scale of the
mineralized systems. The well-mineralized structures at each of these targets have been defined by
trenching, channel sampling and shallow drilling that is open at depth and along strike, allowing for further
expansion and the potential to define new silver resources;
2. Advanced Stage Surface Targets – Continued target refinement and first phase drill testing of up to six
advanced surface targets, all of which have returned high-grade values from surface sampling: Gold Hill,
Bounty, Duncan, Silver Basin, Vanguard and Silver Queen. Drilling on these targets will be designed to test
vertically under the known surface mineralization to demonstrate the potential of these targets to move to a
resource delineation stage; and
3. Earlier Stage Targets – Concurrent follow-up exploration on 20 earlier-stage targets on the lesser explored
parts of the property that show potential to host significant high-grade Keno-type silver mineralization along
recognized mineral trends. Work on these targets includes soil sampling, detailed stratigraphic mapping and
trenching with the objective to advance the most prospective areas to a first phase drill testing stage.
To date, the Company has completed follow-up exploration at the Keno Silver Project on its earlier stage and
advanced stage surface targets, as well as diamond drilling at the Gold Hill, Caribou and Homestake targets, and is
awaiting final permits for drilling on the Formo target. Drill core, rock and soil samples from this work continue to be
sent to the lab for analysis. Results from the Keno Silver Project exploration program will be provided in future project
updates as the assays are received, verified and incorporated into Metallic Minerals’ exploration database and
geologic models.
Chairman & CEO, Greg Johnson stated, “We are excited about the advancements at McKay Hill and the Keno Silver
Project during the 2018 field season. During a focused field program at McKay Hill our team completed the project
objectives of further defining the extent of the previously identified mineralized zones, as well as making new
discoveries of additional previously unrecognized vein exposures. We are encouraged by these results as they
demonstrate that the mineralized system is more extensive than previously recognized and we are advancing priority
targets to a drill testing stage. Based on the expanded scale of the identified mineralization, additional ground was
staked, expanding the size of the McKay Hill property by 25%. Assay results from this year’s McKay Hill program are
expected to be available in October and will be incorporated into planning for follow-up work in 2019. At the Keno
Silver Project follow-up exploration continues to show the potential at both the earlier stage and advanced stage
surface targets, as well as diamond drilling at the Gold Hill, Caribou and Homestake targets are confirming the
significance of these structures. Additional updates on the Keno silver and McKay Hill projects will follow as results
become available.”
About Metallic Minerals Corp.
Metallic Minerals Corp. is a growth-stage exploration company focused on the acquisition and development of high-
grade silver and gold in the Yukon within under-explored districts with potential to produce top-tier assets. Our
objective is to create value through a disciplined, systematic approach to exploration, reducing investment risk and
maximizing probability of 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 silver and currently
hosts one of the world’s highest-grade silver resources. The Company’s McKay Hill Project, northeast of Keno Hill,
is a high-grade historic silver-gold producer. Metallic Minerals is also building a portfolio of gold royalties in the historic
Klondike Gold District. Metallic Minerals is led by a team with a track record of discovery and exploration success,
including large scale development, permitting and project financing.
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FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.metallic-minerals.com
Email: [email protected]
Phone: 604-629-7800
Toll Free: 1-888-570-4420
Twitter: @metallic_group
Qualified Person
Scott Petsel, P.Geo, Vice President, Exploration, 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 programs and confirmed that all procedures, protocols and methodologies used 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.
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