NEM - Vancouver Jr. Starts 2024 Exploration at Projects in Yukon and Colorado | Benzinga
Source: Streetwise Reports 06/17/2024
Metallic Minerals Corp. (OTC: MMNGF) announced it has started its 2024 exploration programs at both its Keno Silver project in the Yukon Territory and the La Plata copper-silver-gold-platinum group element (PGE) in Colorado.
The company announced an inaugural resource of 18.2 million ounces (Moz) of silver equivalent (Ag Eq) at Keno this year. Preparations are in the final stages for diamond drilling to start there in July, the company said.
At La Plata, Metallic Minerals said field programs have started, including mapping and surface sampling, to advance and prioritize newly identified targets for drill testing within the footprint of the district-scale copper porphyry system.
"We are excited to initiate our exploration activities at both Keno Silver and La Plata for 2024" Metallic Minerals President Scott Petsel said. "Our team is eager to apply the knowledge gained from previous programs to this year's drilling at targets selected to maximize [the] opportunity for success."
The drilling initiative at Keno aims to expand existing resources and test the potential to define new resources at the highest priority drill-ready targets, the company said. A focus will be on resource expansion at the Formo target, which is the largest current resource at the project. All four deposits at Keno, including Formo, start at surface and remain open for further expansion.
The 171-square-kilometer (km2) Keno Silver project is directly adjacent to Hecla Mining Co.'s (NYSE: HL) high-grade Keno Hill mining operations and mill, which is projected to produce 3 to 4 Moz Ag this year.
At La Plata, which is in southwest Colorado, new targets include Copper Hill, Renegade, and Morningstar, which all show very strong surface geochemical signatures, Metallic Minerals said. Drilling is anticipated to start with an initial focus on extending higher-grade mineralization at the Allard resource area, where five separate drill holes intercepted 500 to 900-meter-thick zones of continuous copper and precious metals mineralization.
Additional drilling is planned to test the highest priority targets outside of the Allard resource area at the project.
'Excellent Potential'
Petsel said at the Keno project, there are more than ...