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Metallic Minerals Expands Resource at La Plata Copper-Silver-Gold-PGE Project in Southwestern Colorado, USA
VANCOUVER, BC / ACCESSWIRE / July 31, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (...
About this update from Metallic Minerals Corp.
[{"type":"text","content":"Metallic Minerals Expands Resource at La Plata Copper-Silver-Gold-PGE Project in Southwestern Colorado, USAVANCOUVER, BC / ACCESSWIRE / July 31, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (\"Metallic Minerals\" or the \"Company\") is pleased to announce an updated National Instrument 43-101 Mineral Resource Estimate representing a 25% increase in contained metal based on an additional 1,730 meters of diamond drilling completed at its La Plata project in 2022. Inferred mineral resources at the Allard deposit now total 1,211 million pounds of copper (\"Mlbs\") and 17.6 million ounces (\"Moz\") of silver in a constrained model with 147.3 million tonnes at an average grade of 0.41% Copper Equivalent (\"CuEq\") (0.37% Cu and 3.72 g/t Ag) using a 0.25% CuEq cut-off grade (See Table 1 notes). The expansion from the inaugural resource to the current 1,317 Mlbs CuEq is largely driven by the major discovery in drill hole LAP22-04 (drilled in 2022), which intersected 816 meters of 0.41% CuEq recovered (0.30% Cu, 2.47 g/t Ag, 0.038 g/t Au, 0.055 g/t Pd and 0.093 g/t Pd) bottoming in 5.39% CuEq recovered over 5.2 m (2.44% Cu, 18.7 g/t Ag, 5.0 g/t Au+PGE). Follow-up drilling is currently underway to test the extent of this newly discovered high-grade mineralization, and at the time of this news release, the first offset drill hole was drilling in porphyry mineralization and had reached approximately 500 m depth.The Allard deposit resource remains completely open to expansion laterally and to depth. Future mineral resource estimates will add gold, platinum and palladium to the copper and silver resource with additional drilling. These metals were not previously assayed for in historic drilling but add significant value to the recent drill intercepts. Furthermore, the greater La Plata copper-silver-gold-PGE project remains underexplored and open to new discoveries of both additional copper porphyry centers, as well as high-grade epithermal silver, gold and telluride mineralization that were the focus of historic mining in the district.HighlightsInferred mineral resources at the Allard deposit now total 1,211 million pounds of copper and 17.6 million ounces of silver in a constrained model with 147.3 million tonnes at an average grade of 0.41% CuEq (0.37% Cu and 3.72 g/t Ag) using a 0.25% CuEq cut-off grade.Contained copper equivale...