Metalla Provides Update ON Côté and Gosselin Royalty
METALLA PROVIDES UPDATE ON CÔTÉ AND
GOSSELIN ROYALTY
TSXV: MTA
NYSE AMERICAN: MTA
VANCOUVER, BC
,
Oct. 25, 2023
/CNW/ -
Metalla Royalty & Streaming Ltd.
("
Metalla
") (NYSE American: MTA)
(TSXV: MTA) is pleased to report IAMGOLD Corporation ("
IAMGOLD
") (TSX: IMG) (NYSE: IAG) has announced
by press release dated
October 23, 2023
that the Côté mine (
"Côté
") project has progressed to 90.6%
completion and exploration drilling continues to expand the adjacent Gosselin zone discovery ("
Gosselin
").
Metalla owns a 1.35% Net Smelter Return royalty on Gosselin and a portion of Côté (collectively, the
"Royalty").
Brett Heath
, President & CEO of Metalla commented, "We are thrilled to see the continued success in exploration
activities at Gosselin, especially the significant intercepts at depth. The results are very exciting and suggest that
the Gosselin deposit, subject to the completion of further delineation drilling, has potential to expand in size similar
to the adjacent Côté deposit. We look forward to the future at Gosselin and IAMGOLD's work to include the
deposit into the future Côté life-of-mine plans."
"We are also pleased to see the continued progress of the construction of the Côté mine as IAMGOLD is near the
finish line and has announced that it expects production to commence in early 2024."
IAMGOLD announced the completion of another successful drill campaign at Gosselin and reported additional
results. IAMGOLD stated recent drilling at Gosselin provide evidence that the 5 Moz gold Gosselin deposit
(1)
is
approaching similar dimensions as the adjacent ~14 Moz gold Côté deposit
(1)
. IAMGOLD expects to incorporate
recent drill results into an updated resource estimate for Gosselin in IAMGOLD's year end Mineral Resources
disclosure. In addition, IAMGOLD continues to advance technical studies on Gosselin, including metallurgical
testing, mining and infrastructure studies to review alternatives to optimize the possible inclusion of the Gosselin
deposit into a future Côté Gold life-of-mine plan.
(1)
IAMGOLD REPORTED THE FOLLOWING GOSSELIN DRILLING PROGRAM HIGHLIGHTS
(1)
0.65 g/t gold over 472 meters
including 1.59 g/t gold over 51 meters
0.82 g/t gold over 356 meters
including 1.09 g/t gold over 132 meters
1.40 g/t gold over 300.8 meters
including 1.71 g/t gold over 207.3 meters
1.53 g/t gold over 240 meters
including 2.26 g/t gold over 120 meters
0.72 g/t gold over 500.8 meters
IAMGOLD REPORTED THE FOLLOWING CÔTÉ HIGHLIGHTS
(1)
Overall Côté project progress was estimated to be 90.6% complete as of
September 30, 2023
, with
construction progress approximately 92% complete
Côté development remains on track with production to commence in early 2024
According to IAMGOLD
(1)
:
"This diamond drilling program has strategically targeted the expansion potential of the Gosselin deposit at depth,
specifically below the East and newly discovered West hydrothermal breccia bodies, the gap area between these
breccia's, and also along the southern edge of the deposit. The assay results confirmed the extension of gold
bearing altered and mineralized hydrothermal breccia and associated tonalite intersected in numerous drill holes up
to 400 metres vertically below the previous resource pit shell over an approximate one-kilometer strike length. The
results are very encouraging and indicate that the Gosselin deposit, subject to the completion of further delineation
drilling, has potential to expand in size similar to the adjacent Côté deposit"
Figure 1: Gosselin Composite Longitudinal Section (CNW Group/Metalla Royalty and Streaming Ltd.)
Figure 1: Gosselin Composite Longitudinal Section
GOSSELIN RESERVE & RESOURCE ESTIMATE AS OF
DECEMBER 31, 2022
(2)
Reserve & Resource Estimate
Tonnes
Gold
(000's)
(g/t)
(Koz)
Measured Resources
-
-
-
Indicated Resources
124,500
0.8
3,350
Measured & Indicated Resources
124,500
0.8
3,350
Inferred Resources
72,900
0.7
1,710
CÔTÉ RESERVE & RESOURCE ESTIMATE AS OF
DECEMBER 31, 2022
(2)
Reserve & Resource Estimate
Tonnes
Gold
(000's)
(g/t)
(Koz)
Proven Reserves
130,988
1.0
4,260
Probable Reserves
102,343
0.9
2,914
Proven & Probable Reserves
233,331
1.0
7,174
Measured Resources
152,534
1.0
4,726
Indicated Resources
213,382
0.8
5,480
Measured & Indicated Resources
365,916
0.9
10,206
Inferred Resources
189,108
0.6
3,813
Côté and Gosselin 1.35% Royalty Map
Côté and Gosselin 1.35% Royalty Map (CNW Group/Metalla Royalty and Streaming Ltd.)
NOVA SPECIAL MEETING
Metalla is also pleased to report that, further to its joint new release with Nova Royalty Corp. ("
Nova
"), dated
September 8, 2023
, Nova has announced it has obtained an interim order of the Supreme Court of
British
Columbia
in connection with the proposed arrangement (the "
Arrangement
") to be implemented under a statutory
plan of arrangement pursuant to section 288 of the
Business Corporations Act
(
British Columbia
). The Interim
Order provides for the holding of a special meeting (the "
Special
Meeting
") of the holders of common shares of
Nova (collectively, the "
Nova
Shareholders
") to consider and vote on a special resolution approving the
Arrangement. The Special Meeting is scheduled to be held at the offices of DLA Piper (
Canada
) LLP, at Suite
2700, 1133 Melville Street,
Vancouver, BC
V6E 4E5 on
Monday, November 27
, 2023, at
10:00 a.m.
(
Vancouver
time) and the record date for determining Nova Shareholders entitled to receive notice of and vote at the Special
Meeting has been fixed as at the close of business on
October 25
, 2023.
The Special Meeting materials, including a management information circular, will be available on SEDAR+ under
Nova's profile at
www.sedarplus.ca
and on Nova's website once they have been mailed to Nova Shareholders in
the coming days.
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
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 the IAMGOLD Corporation
press release
dated
October 23, 2023
2.
Please see
reserves and resources statement on Côté and Gosselin by IAMGOLD
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.
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 and a director of Metalla. Mr. Beaudry is a QP as defined in National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("
NI 43- 101
").
TECHNICAL AND THIRD-PARTY INFORMATION
Except where otherwise stated, the disclosure in this press release relating to the Cote mine and the Gosselin
deposit is based on information publicly
disclosed by the owners or operators of these properties and
information/data available in the public domain as at the date
hereof and none of this information has been
independently verified by Metalla. Specifically, as a royalty holder, Metalla has
limited, if any, access to the
properties subject to the Royalty. 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 the operator may relate to a larger property than the area covered by Metalla
'
s
Royalty interest. Metalla
'
s royalty interests often cover less than 100% and sometimes only a portion of the
publicly reported
mineral reserves, mineral resources and production of a property.
The disclosure was prepared in accordance with Canadian NI 43-101, which differs significantly
from the current
requirements of the U.S. Securities and Exchange Commission (the
"
SEC
"
) applicable to U.S. domestic issuers.
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 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 geological 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
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 and information include, but are not limited to,
statements of management with respect to the potential of the Gosselin deposit; the anticipated timing of
production at the Cote mine; the incorporation of recent drill results into an updated resource estimate for
Gosselin; the inclusion of the Gosselin deposit into a future Côté Gold life-of-mine plan the conduction of tests and
studies at the Gosselin deposit; the production, recoveries, and other anticipated or possible future developments
at the Gosselin deposit and Cote mine; mineral resources and reserves estimates; and the potential for Metalla to
become one of the leading gold and silver companies for the next commodities cycle. 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: the risk that the announced developments at the
Gosselin deposit and the Cote mine will not occur as expected at all or within the anticipated timing; risks of
mineral resources and mineral resource estimates not being accurate; risks associated with the impact of general
business and economic conditions; 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 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.sedarplus.ca
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 or information.
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For further 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], Website: www.metallaroyalty.com
CO: Metalla Royalty and Streaming Ltd.
CNW 07:30e 25-OCT-23