Metalla Announces First GOLD Produced at Tocantinzinho
METALLA ANNOUNCES FIRST GOLD PRODUCED AT
TOCANTINZINHO
(All dollar amounts are in thousands of United States
dollars unless otherwise indicated)
TSXV: MTA
NYSE AMERICAN: MTA
VANCOUVER, BC
,
July 10, 2024
/CNW/ -
Metalla Royalty & Streaming Ltd.
("
Metalla
") (NYSE American: MTA)
(TSXV: MTA) is pleased to report that G Mining Ventures Corp. ("
G Mining
") (TSX: GMIN) has announced by
press release
1
the first gold pour at the Tocantinzinho ("
TZ
") gold project in the State of Pará, Brazil, where Metalla
holds a 0.75% Gross Value Royalty ("
GVR
").
Brett Heath
, President & CEO of Metalla commented,
"We would like to congratulate the G Mining team for
bringing TZ into production on time and on budget less than two years after the formal construction decision. TZ
will become Brazil's third-largest primary gold mine with a 10+ year mine life and significant potential to grow the
resource base. Once at full production, TZ will be one of our largest revenue contributors, underpinning our
portfolio of high-quality growth and cash flowing royalties."
TOCANTINZINHO
Metalla acquired the 0.75% GVR on TZ in
March 2021
for
$9.0 million
in cash from a third party. The royalty
property covers the full extent of the TZ deposit with 28,275 hectares of the land package surrounding the deposit,
which includes the Castor and
Santa Patricia
targets.
G Mining stated in their press release
1
that construction of TZ commenced in September 2022, following the
completion of a Definitive Feasibility Study ("
DFS
") dated
February 09
, 2022 (filed under G Mining's profile on
Sedar+, entitled "Feasibility Study – NI 43-101 Technical Report, Tocantinzinho Gold Project"). The DFS
contemplates a 10.5-year mine life with an average annual gold production of 175,000 ounces.
G Mining also stated in their press release
1
that since the start of hot commissioning on June 11, 2024,
approximately 77 thousand tonnes of ore had been processed through the TZ process plant, with all circuits
operating as expected. The first pour yielded approximately 440 ounces of gold, and the TZ project remains on time
and budget for commercial production in the second half of 2024.
ROYALTY MAP
Royalty Map (CNW Group/Metalla Royalty & Streaming Ltd.)
TOCANTINZINHO RESERVE & RESOURCE ESTIMATE AS OF
DECEMBER 10, 2021
1
Tonnes
Gold
Royalty Ounces
(000's)
(g/t)
(000's)
(000's)
Proven Reserves
17,973
1.46
842
Probable Reserves
30,703
1.22
1,200
Proven & Probable
48,676
1.31
2,042
15.3
Measured Resources
17,609
1.49
841
Indicated Resources
30,505
1.29
1,261
Measured & Indicated
48,114
1.36
2,102
15.8
Inferred Resources
1,580
0.98
50
0.4
For royalty ounces calculation, Metalla estimates 100% of TZ's Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 0.75%.
QUALIFIED PERSON
The technical information contained in this news release has been reviewed and approved by
Charles Beaudry
,
geologist M.Sc., member of the Association of Professional Geoscientists of
Ontario
and of the Ordre des
Géologues du Québec. Mr. Beaudry is a QP as defined in National Instrument 43-101 -
Standards of Disclosure for
Mineral Projects
("
NI 43-101
").
ABOUT METALLA
Metalla was created to provide shareholders with leveraged precious and strategic metal exposure by acquiring
royalties and streams. Our goal is to increase share value by accumulating a diversified portfolio of royalties and
streams with attractive returns. Our strong foundation of current and future cash-generating asset base, combined
with an experienced team, gives Metalla a path to become one of the leading royalty companies.
For further information, please visit our website at
www.metallaroyalty.com
.
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
President and CEO
Website:
www.metallaroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Exchange) accept responsibility for the adequacy or accuracy of this release.
Notes:
1.
Please see G Mining's
press release
dated
July 9
, 2024,G Mining's Annual Information Form dated
March 27,
2024
and the DFS.
Information contained on any website or document referred to or hyperlinked in this press release shall not be
deemed to be a part of this press release.
Technical and Third-Party Information
Metalla has limited, if any, access to the properties on which Metalla holds a royalty, stream or other interest.
Metalla is dependent on (i) the operators of the mines or properties and their qualified persons to provide
technical or other information to Metalla, or (ii) publicly available information to prepare disclosure pertaining to
properties and operations on the mines or properties on which Metalla holds a royalty, stream or other interest,
and generally has limited or no ability to independently verify such information. Although Metalla does not have
any knowledge that such information may not be accurate, there can be no assurance that such third-party
information is complete or accurate. Some information publicly reported by operators may relate to a larger
property than the area covered by Metalla's royalty, stream or other interests. Metalla's royalty, stream or other
interests can cover less than 100% and sometimes only a portion of the publicly reported mineral reserves,
resources and production of a property.
Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this press release,
including any
references to mineral resources or mineral reserves, was prepared in accordance with Canadian
NI
43-101
, which differs significantly from the requirements of the U.S. Securities and
Exchange Commission (the
"
SEC
"
)
applicable to U.S. domestic issuers. Accordingly, the scientific and technical
information contained or
referenced in this press
release may not be comparable to similar information made
public by U.S. companies
subject to the reporting and
disclosure requirements of the SEC.
"
Inferred mineral resources
"
have a great amount of uncertainty as to their existence and great uncertainty as to
their
economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will
ever be
upgraded to a higher category. Historical results or feasibility models presented herein are not guarantees
or expectations of
future performance.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and forward-looking information (collectively, "forward-looking
statements")
within the meaning of applicable securities legislation.
Often, but not always, forward-looking
statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled",
"estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations
(including negative variations) of such words and phrases or may be identified by statements to the effect that
certain actions "may", "could", "should", "would", "might" or "will" be taken, occur, or be achieved. Forward-looking
statements include, but are not limited to, the statements regarding the size and potential of TZ to grow the
resource base; TZ becoming the third-largest primary gold mine in
Brazil
; the revenue contributions of the TZ
royalty to Metalla; the mine life and projected annual production at TZ; the commencement of commercial
production at TZ and the timing thereof; the budget for the TZ project; the expectations generally of Metalla
regarding the property owners/operators and the authors of relevant technical reports and studies with respect to
the mineral projects in which Metalla has an interest, including without limitation, estimates of mineral resources
and mineral reserves and updates thereto, production, mine life, NPV, IRR, costs, drilling, development,
permitting, water sourcing, commodity mix and prices, and the timing thereof;
future opportunities and
acquisitions;
future exploration, financing, development, production and other anticipated developments on the
properties in which the
Company has or has agreed to acquire an interest;
future growth, increased share value,
cash generation and returns; and Metalla having a path to becoming a leading gold and silver royalty company.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and
information are subject to various known and unknown risks and uncertainties, many of which are beyond the
ability of Metalla to control or predict, that may cause Metalla's actual results, performance or achievements to be
materially different from those expressed or implied thereby, and are developed based on assumptions about
such risks, uncertainties and other factors set out herein, including but not limited to: that TZ will not become the
third largest primary gold mine in
Brazil
; that TZ will fail to grow the resource base; that the TZ royalty will not
provide the anticipated revenue contributions to Metalla; that TZ will not have the anticipated mine life and annual
production that commercial production at TZ will not commence at all or at the anticipated timing; that the TZ
project will cost more than the projected budget;; the absence of control over mining operations from which
Metalla will purchase precious metals or from which it will receive stream or royalty payments and risks related to
those mining operations, including risks related to international operations, government and environmental
regulation, delays in mine construction and operations, actual results of mining and current exploration activities,
conclusions of economic evaluations and changes in project parameters as plans are refined; problems related to
the ability to market precious metals or other metals; industry conditions, including commodity price fluctuations,
interest and exchange rate fluctuations; interpretation by government entities of tax laws or the implementation of
new tax laws; regulatory, political or economic developments in any of the countries where properties in which
Metalla holds a royalty, stream or other interest are located or through which they are held; risks related to the
operators of the properties in which Metalla holds a royalty or stream or other interest, including changes in the
ownership and control of such operators; risks related to global pandemics, including the current novel
coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens; influence of
macroeconomic developments; business opportunities that become available to, or are pursued by Metalla;
reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of
the properties in which Metalla holds a royalty, stream or other interest; the volatility of the stock market;
competition; future sales or issuances of debt or equity securities; use of proceeds; dividend policy and future
payment of dividends; liquidity; market for securities; enforcement of civil judgments; and risks relating to Metalla
potentially being a passive foreign investment company within the meaning of U.S. federal tax laws; and the other
risks and uncertainties disclosed under the heading "Risk Factors" in the Company's most recent annual
information form, annual report on Form 40-F and other documents filed with or submitted to the Canadian
securities regulatory authorities on the SEDAR website at
www.sedar.com
and the U.S. Securities and Exchange
Commission on the EDGAR website at
www.sec.gov
. Metalla undertakes no obligation to update forward-looking
information except as required by applicable law. Such forward-looking information represents management's
best judgment based on information currently available. No forward-looking statement can be guaranteed, and
actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on
forward-looking statements.
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SOURCE
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View original content to download multimedia:
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%SEDAR: 00005157E
For further information:
CONTACT INFORMATION: Metalla Royalty & Streaming Ltd., Brett Heath, President &
CEO, Phone: 604-696-0741, Email: [email protected]; Kristina Pillon, Investor Relations, Phone: 604-908-
1695, Email: [email protected]
CO: Metalla Royalty & Streaming Ltd.
CNW 07:00e 10-JUL-24