Business
Metallic Minerals Announces Gold Production Royalty Agreement with Parker Schnabel and Little Flake Mining of Discovery Channel's Gold Rush Television Series
VANCOUVER, BC / ACCESSWIRE / January 24, 2023 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) ...
About this update from Metallic Minerals Corp.
[{"type":"text","content":"Metallic Minerals Announces Gold Production Royalty Agreement with Parker Schnabel and Little Flake Mining of Discovery Channel's Gold Rush Television SeriesVANCOUVER, BC / ACCESSWIRE / January 24, 2023 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (\"Metallic Minerals\" or the \"Company\") is pleased to announce signing a production royalty agreement on 5 ½ miles of alluvial gold claims at its Australia Creek property in the Klondike Gold District of Canada's Yukon Territory, with Little Flake mining, a company owned and operated by Parker Schnabel of Discovery Channel‘s top-rated television series, \"Gold Rush\".Under the terms of the agreement, Little Flake will be granted exclusive rights to extract gold from the Australia Creek property, with Metallic Minerals receiving a percentage of the production as a royalty. This partnership will combine Metallic Minerals' expertise in mineral exploration and Little Flake's experience in gold mining to maximize production and profitability for both groups in the region. Mr. Schnabel is recognized as a highly experienced miner and, in December 2022, was awarded the Robert E. Leckie Award for Excellence in Environmental Stewardship by the Yukon Government for reclamation work in the Klondike goldfields.\"We are excited to be working with Parker and the highly experienced Little Flake mining team and believe this partnership will be lucrative for both our companies, given Little Flakes track record of impressive alluvial gold production,\" said Greg Johnson, Metallic Minerals Chairman & CEO. \"Our recent gold discoveries at Australia Creek represent a major extension of the Klondike to the east and is one of the biggest new discoveries in this historic district in decades. Metallic Minerals is one of the largest owners of alluvial gold mining claims in the Yukon Territory, including this large block of unmined claims in the Klondike. Starting with exceptional operators like Little Flake, we anticipate the potential for the generation of significant production royalties, which will provide funding toward our hard rock silver and copper exploration projects in Yukon and Colorado. An important criterion for our evaluation of potential additional alluvial operators will be demonstrated operational excellence and environmental stewardship that aligns with Metallic Minerals...