Metalla Reports Portfolio Updates
METALLA REPORTS PORTFOLIO UPDATES
(All dollar amounts are in
United States
dollars unless otherwise indicated)
TSXV:
MTA
NYSE AMERICAN:
MTA
VANCOUVER, BC
,
Oct. 21, 2024
/CNW/ -
Metalla Royalty & Streaming Ltd.
("
Metalla
") (NYSE
American: MTA) (TSXV: MTA) is pleased to report select portfolio updates:
Gosselin (1.35% NSR) –
Drilling has successfully outlined extensions of the Gosselin Zone
outside of the current resource pit shell, including mineralization at depth in between Côté and
Gosselin deposits.
Endeavor (4.0% NSR) –
Funding & offtake secured to fund Endeavor restart; recent drilling
provides upside, reiterated guidance for H1-2025 production.
La Guitarra
(2.0% NSR) –
Mining ramp up rates continue to be met, with commercial
production expected before year end.
Joaquin (2.0% NSR) –
New operator outlines comprehensive exploration program to boost
resource estimate and publish maiden JORC (2012) MRE.
GOSSELIN (1.35% NSR)
Metalla holds a 1.35% net smelter return ("
NSR
") royalty interest on IAMGOLD Corporation's
(NYSE: IAG)("
IAMGOLD
") Gosselin project ("
Gosselin
") and the northern portion of the Côté mine
in
Gogama, Canada
.
On
October 15, 2024
, IAMGOLD announced diamond drill results outlining the successful extension
of mineralization outside of the Gosselin
December 31, 2023
mineral resource pit shell. Key
extensions have been intersected south and west of the Gosselin West Breccia, and at depth
between the Côté and Gosselin West Breccia in an attempt to connect the two zones. Highlights of
the Gosselin drill program include:
0.96 g/t gold over 368.8 meters
2.7 g/t gold over 235 meters
1.1 g/t gold over 357 meters
1.19 g/t gold over 201 meters
Renaud Adams
, President and Chief Executive Officer of IAMGOLD, commented: "We believe that
Côté is just the start of what will be a mining district. The exploration results today from Gosselin
continue to demonstrate the potential for the Côté and Gosselin Zones to connect, in addition to
highlighting that the overall size and scope of these zones have yet to be defined – as both Côté and
Gosselin remain open at depth in all directions."
On
February 15, 2024
, IAMGOLD announced the updated Gosselin mineral resource estimate of
4.4 M
Indicated gold ounces at 0.85 g/t and
3.0 M
Inferred gold ounces at 0.75 g/t. Exploration
drilling for the remainder of 2024 will continue to target mineralization beneath both Gosselin and
Côté.
Gosselin long section (CNW Group/Metalla Royalty & Streaming Ltd.)
Figure 1:
Long Section
of Gosselin Drill Program.
Royalty boundary overlay (CNW Group/Metalla Royalty & Streaming Ltd.)
Figure 2: Plan view of Côté & Gosselin drilling.
2
For more information, please view
IAMGOLD's
October 15, 2024
Press Release
,
IAMGOLD's
October 15
2024 Presentation
and
IAMGOLD's
February 15, 2024
Press Release
.
ENDEAVOR (4.0% NSR)
Metalla holds a 4.0% NSR royalty on Polymetals Resources Ltd.'s (ASX: POL) ("
Polymetals
")
Endeavor mine ("
Endeavor
") in Cobar,
Australia
.
On
September 16, 2024
, Polymetals announced it had secured a
$20M
pre-payment/loan facility to
fully fund the Endeavor restart along with favorable offtake terms for delivery of zinc and silver/lead
concentrates.
Polymetals reiterated that the Endeavor mine is on track to be restarted with first cashflows
expected in H1-2025. Polymetals announced and updated Endeavor mine plan on
August 5, 2024
with a Pre-tax NPV
8%
of
A$414M
, Internal Rate of Return of 345% and free cash flow
A$609M
over
the 10-year mine plan, with average annual EBITDA of
$89M
over the first 5 years.
On
October 9, 2024
, Polymetals announced the results from recent drilling completed at Endeavor.
Key intercepts include 517 g/t silver-equivalent ("
AgEq
")
1
over 67.1 meters and 551 g/t AgEq over
53.8 meters, outlining the potential for increased ore extraction rates from the Upper North Lode at
Endeavor.
For more information, please view the
Polymetals Resources
September 16, 2024
Press Release
and
Polymetals Resources
October 9, 2024
Press Release
and
Polymetals Resources
August 5,2024
Press Release
LA GUITARRA
(2.0% NSR)
Metalla holds a 2.0% NSR royalty on
Sierra Madre Gold
& Silver Ltd.'s (TSXV: SM)("
Sierra
Madre
")
La Guitarra
project ("
La Guitarra
") in the Temascaltepec mining district,
Mexico
.
On
September 24, 2024
,
Sierra Madre
announced that daily throughput rates of economical
interesting silver and gold mineralization have averaged 350 tonnes per day ("
tpd
") over the past 30
days, generating in excess of
$2.4M
in revenue since the commencement of mining at the
La
Guitarra
complex.
Ken Scott
, Chief Financial Officer of
Sierra Madre
, commented: "The Guitarra team is continuing to
do a great job of incrementally increasing the daily production rate. Our next test mining and
processing goal is 400 tonnes per day, followed by commercial production of 500 tonnes per day
before year end."
For more information, please view
Sierra Madre's
September 24, 2024
Press Release.
JOAQUIN (2.0% NSR)
Metalla holds a 2.0% NSR royalty on Unico Silver Limited's ("
Unico
") Joaquin project ("
Joaquin
") in
Santa Cruz
, Argentina.
On
October 11, 2024
, Unico announced the completion of the acquisition of Joaquin from Pan
American Silver Corporation (NYSE: PAAS). From 2019-2022, Joaquin produced 4.3 Moz AgEq at
410 g/t with ore trucked 145 kilometres to the Manantial Espejo mine.
Joaquin contains a historical mineral resource estimate in the categories of Measured and Indicated
of 70.1 Moz AgEq
3
and in the category of Inferred of 3.3 Moz AgEq
3
at 136 g/t in the La Negra and
La Marocha deposits. Unico is planning a comprehensive exploration program on four advanced
prospects, aiming to boost current Foreign Estimates and publish an initial JORC (2012) Mineral
Resource Estimate in H1-2025.
Unico outlined there are several historical drill holes that fall outside the historic resource with
highlighted intercepts of 1,699 g/t silver & 22 g/t gold over 4.5 meters and 99 g/t silver & 0.4 g/t gold
over 8.6 meters.
Joaquin exploration map (CNW Group/Metalla Royalty & Streaming Ltd.)
Figure 3: Joaquin Project Map
For more information, please view
Unico's
October 11, 2024
Press Release
and
Unico's
August 20, 2024
Press Release
and Coeur D'Alene Mines Corporation, Technical Report NI
43-101,
February 2013
, Joaquin Project,
Santa Cruz Argentina
.
4
QUALIFIED PERSON
The technical information contained in this alert 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"
Chief Executive Officer
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 alert.
Technical and Third-Party Information
Notes:
1
.
AgEq is defined by Polymetals in their
October 9, 2024
Press Release.
2
.
Figure 2 depicts an area that is larger than the coverage of the Metalla royalty, and is provided
for informational purposes.
3
.
AgEq is defined by Unico in their
August 20, 2024
Press Release. This Mineral Resource
estimate covers an area that is larger than the coverage of the Metalla royalty, and is provided
for informational purposes.
4
.
Pan American Silver Corp. prepared a more recent Technical Report and Feasibility Study in
January 2018
, however, this report was focused on an underground mine at the Moarocha vein,
which is not the subject of the Metalla Royalty.
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
alert,
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 alert 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
alert
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 in this alert include, but are not limited to, that Côté is the start of a mining district; the
potential for the Côté and Gosselin Zones to connect; the exploration drilling at Côté mine for the
remainder of 2024; the re-start of the
Endeavour
mine, and the anticipated timing of first
cashflows; the potential for increased ore extraction rates at Endeavor; the mining and processing
daily goal at
La Guitarra
; the commercial production goal at
La Guitarra
and the expected timing
thereof; the planned exploration program by Unico at Joaquin; the boost of Foreign Estimates at
Joaquin; the publication of an initial JORC (2012) Mineral Resource Estimate for Joaquin and the
expected timing thereof; the expectations generally of Metalla 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 Côté may
not be the start of a mining district; that the Côté and Gosselin Zones may never connect; that
further exploration drilling may not take place at Côté in 2024; that the Endeavor mine will not
restart; that the cashflow at Endeavor will not start as and when expected; that the rates of ore
extraction at Endeavor may not increase; that
La Guitarra
may not achieve its mining and
processing daily goal; that the commercial production target at
La Guitarra
may not be achieved at
all or in the anticipated timing; that the exploration program at Joaquin may not occur; that the
Foreign Estimates at Joaquin may not boost as expected; that Unico may not publish an initial
Mineral Resource Estimate for Joaquin at all or in the expected timing thereof; 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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%SEDAR: 00005157E
For further information:
CONTACT INFORMATION: Metalla Royalty & Streaming Ltd., Brett
Heath, Chief Executive Officer, 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 21-OCT-24