- Metallic Minerals (MMG) has announced the first National Instrument 43-101 mineral resource estimate for the La Plata project in Colorado
- President Scott Prestel sat down with Shoran Devi to discuss the news
- The company acquired the project in 2019 and has generated a NI 43-101 compliant resource estimate consisting of 115.7 million tonnes
- The 2022 Resource Estimate is based on 56 diamond core drill holes, totalling 15,200 meters
- Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver and gold projects
- Metallic Minerals Corp. (MMG) opened trading at C$0.385 per share
Metallic Minerals (MMG) has announced the first National Instrument 43-101 mineral resource estimate for the La Plata project in Colorado.
The company acquired the project in 2019 and confirmatory drilling and sampling have quickly generated a NI 43-101 compliant resource estimate consisting of 115.7 million tonnes at an average grade of 0.39 per cent copper equivalent.
Scott Petsel, Metallic Minerals’ President sat down with Shoran Devi to discuss the news.
“This inaugural resource is a major milestone for Metallic Minerals and the La Plata project and puts us on the map in the U.S. with a new resource containing important base and precious metals, that fall under the US government’s critical minerals strategy, in a past-producing yet underexplored district in the southwestern U.S. With 15 million ounces of silver and nearly a billion pounds of copper, at recent metal prices of over $25/oz silver and $4.50/lb copper, the company has demonstrated the exceptional value opportunity of the La Plata project for Metallic Minerals shareholders.
We feel this is just the start for us at La Plata and it validates our strategy of identifying and acquiring high-quality district-scale assets during lows in the metal price cycle and applying modern, systematic exploration techniques as a means of value creation. This is also the process we are seeing to fruition at our high-grade Keno Silver property in Yukon, Canada. Work at La Plata in 2022 will focus on expanding this new resource and testing new priority target areas for porphyry and high-grade silver and gold mineralization.”
The 2022 Resource Estimate will be incorporated into an NI 43-101-compliant technical report for the La Plata project which will be available within 45 days.
Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver and gold projects in underexplored, brownfields mining districts of North America.
Metallic Minerals Corp. (MMG) opened trading at C$0.385 per share.
