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Metallic Minerals Provides Update on Klondike Alluvial Gold Royalty Portfolio in Yukon, Canada
VANCOUVER, BC / ACCESSWIRE / July 28, 2021 / Metallic Minerals (TSX.V:MMG | OTCQB:MMNGF) (" ...
About this update from Metallic Minerals Corp.
[{"type":"text","content":"Metallic Minerals Provides Update on Klondike Alluvial Gold Royalty Portfolio in Yukon, CanadaVANCOUVER, BC / ACCESSWIRE / July 28, 2021 / Metallic Minerals (TSX.V:MMG | OTCQB:MMNGF) (\"Metallic Minerals\", or the \"Company\") is pleased to announce significant progress at its alluvial gold operations in the prolific Klondike gold district of Canada's Yukon Territory. The Company has active leases on four alluvial claim blocks on Australia and Dominion Creeks with three operators. All four of these properties are at the development stage with exploration, infrastructure development and bulk sample testing being completed in preparation for commercial gold production with a 10-15% royalty payable to Metallic Minerals.The blocks on Australia Creek saw significant sonic and auger drill campaigns this spring designed to define the broad gold enriched \"pay\" zones. The first of these blocks is now in the bulk sample testing stage, which is expected to result in royalty payments to Metallic Minerals, while drilling continues to expand the target area on the other blocks. Additional drilling is anticipated on the claim blocks later in the year.Figure 1 - Metallic Minerals' Alluvial Gold Royalty Claims Portfolio in Klondike Gold DistrictHeavy equipment is in place on the Australia Creek blocks in preparation for processing of gold bearing gravel material through a wash plant for bulk sample testing. This processing will be from open pit designs generated from the drill campaigns that have been conducted to date on the property. Bulk sample testing is an important step in the development process that is designed to confirm the gold content indicated in the drilling. It is anticipated that processing of the bulk sample would begin in August and continue into the fall, with additional site preparation and drilling expected to commence in September.Metallic Minerals Chairman & CEO, Greg Johnson, commented: \"We are excited to see the significant progress this year by our skilled alluvial gold operators on this prime land position in the famous and productive Klondike Gold district. Work this year has included substantial drill campaigns on the blocks that have led to the definition of significant target areas for bulk sample testing. These bulk sample tests should deliver additional royalty payments to the Company in 2021. We are parti...