Metallic Minerals Corp. (TSXV: MMG | OTCQB: MMNGF) has announced the first NI-43-101 mineral resource estimate (MRE) for 2024 on its Keno Silver project, adjacent to Hecla Mining’s high-grade operations in the iconic Keno Silver District of Canada’s Yukon Territory.
The combined underground and in-pit total resource estimate from four separate deposits (Formo, Fox, Caribou and Homestake) comprises an inferred resource of 2.5Mt at 223g/t Ag Eq equating to 18.16Moz of contained silver equivalent.
Significant resource expansion is anticipated with further drilling as each of these deposits are contained within 250m depth from surface and are open along strike in all directions and at depth where grades typically trend higher.
Subsequent campaigns expected this year will focus on expansion through the drilling of extensions of current resource deposits, definition drilling of very prospective early-stage drilled targets, and the targeting of new discoveries at high-priority targets that have yet to be drill tested.
This 2024 MRE is contained within four of 11 target areas that have returned positive results from initial drill testing to date, with 42 additional targets identified on the project since 2016 remaining, as yet, undrilled.
This marks an important milestone for the company following its acquisition of most of the land package from 2016 to 2018 on the less explored eastern and southern extensions of the Keno Hill district.
Metallic Minerals’ drilling on the project since 2016 has been 18,983m in 165 drill holes with total exploration expenditures of C$19.46M. With the 2024 resource estimate, the company has demonstrated a highly successful systematic and efficient approach to discovery and resource delineation delivering nearly 1,000oz/m Ag Eq drilled.
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