Metallic Minerals – Comprehensive Update On Keno Silver, La Plata, and Klondike Gold Alluvial Projects
Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins me for a comprehensive review of all the work to date at both the Keno Silver Project in the Yukon and the La Plata Copper Project in Colorado. Then we take a deeper dive into the Australia Creek gold alluvial claims and how the current operator has now added a 2nd project to their 2025 work program, giving Metallic Minerals a 2nd paying and producing royalty for this year.
We lead off discussing all the prior year’s drilling that has been completed at the Keno Silver project, which led into the inaugural NI-43-101 mineral resource estimate last year. This was a key milestone for this Project which defined 18.16 million ounces of silver equivalent (inferred), over 4 deposits (Formo, Fox, Caribou and Homestake). The board is currently evaluating next steps for the work programs at Keno Silver for later in the season.
Next we pivoted over to the developing exploration strategy, ongoing groundwork, and targeting for this year at the La Plata Copper-Silver Project, following up on the prior 4 drill holes over 4,530 meters in 2023, and the foundational field season in 2024 looking at a number of new porphyry target across their land package with their strategic partners at Newmont Corporation. Newmont has maintained their 9.5% strategic equity investment in Metallic Minerals due to their interest in the prospectivity for both copper and precious metals at the La Plata Project. Scott outlines that those 4500 meters drilled have not yet been added into the existing 1.21-billion-pound copper and 17.6-million-ounce silver inferred mineral resource, and that the upcoming resource update will also add in resource values from gold, platinum, and palladium for the first time; which have not previously been included.
Wrapping up Scott unpacks the announcement on April 15th highlighting the signing of a new production royalty agreement for a mile of alluvial gold claims at its Australia Creek property in the Klondike Gold District, Yukon Territory. This agreement builds on Metallic Minerals gold royalty business in 2025, with an experienced mining operator, who brings over 40 years of gold mining experience in the Yukon. This marks the second agreement at Australia Creek expanding the Company's leased ground to over two miles from the original one-mile lease in Australia Creek, which gives the company at least two gold mining operations on its Klondike Gold District claims for the 2025 season; with discussions underway with other potential operators on other properties. Scott points out that there could be up to 10 operators on all their alluvial claims in the Klondike and at Keno Hill.
If you have any follow up questions for Scott on Metallic Minerals, then please email me at Shad@kereport.com.
