Metallic Minerals drills 41.4 g/t AgEq over 144.5 metres at Keno project, Yukon

Metallic Minerals Corp. [MMG-TSXV; MMNGF-OTCQB] reported initial assay results from the 2022 field program at the Keno silver project located in the historic Keno Silver district of the Yukon, Canada’s most important silver mining district.

These results cover the East Keno area and represent the first in a series of results to be released from the company’s 2022 exploration program, which included 3,265 metres of diamond core drilling in 23 drill holes, focused on expansion of advanced-stage, resource-ready targets in anticipation of an inaugural NI 43-101 mineral resource estimate in 2023.

Exploration in 2022 at East Keno focused on drilling of the Greater Fox area targets (Fox, UKHM and Zone 2) first discovered by the company in 2020, through systematic exploration efforts, including mapping, geochemical soil sampling, geophysics and drilling. This work outlined the first known occurrence of silver-lead-zinc (Ag-Pb-Zn) sheeted veins and includes the widest intervals of continuous mineralization ever reported in the Keno Hill silver district at up to 177 metres thickness. The sheeted vein mineralization (spaced distinct parallel Ag-Pb-Zn veins) at Fox is found in geologic settings that may be repeated as significant additional targets across the property which, as yet remain undrilled. The East Keno target areas of Fox, UKHM and Zone 2 have become substantial advanced-stage targets, poised for further expansion drilling and near-term resource delineation.

East Keno 2022 exploration highlights: Mineralization was intercepted in each of the eight holes (1,386 m) drilled at East Keno in 2022. Both bulk-tonnage and high-grade Ag-Pb-Zn vein-style mineralization was encountered.

Drill intercepts at the Fox target in 2022 averaged 136 m of sheeted vein mineralization (including up to 177 m wide), a significant broadening of the identified mineralized zones encountered in 2020 and 2021 drilling at Fox.

At the Fox target, hole FOX22-03 returned sheeted vein zones of 144.5 metres at 41.4 g/t silver equivalent (AgEq), including 27.66 metres at 105.8 g/t AgEq.

A total of 107 high-grade samples (over 100 g/t AgEq and greater than 0.5 m in width) were intercepted in the 2022 East Keno drilling, including drill hole Z222-01 that returned 0.5 metres at 222.7 g/t AgEq (182 g/t Ag, 1.1% Pb and 0.03% Zn). FOX22-02 returned 0.5 metres at 806.9 g/t AgEq (555 g/t Ag, 3.24% Pb and 3.14% Zn).

FOX22-03 returned 0.59 metres at 764 g/t AgEq (463 g/t Ag, 0.23 g/t Au, 0.79% Pb and 5.41% Zn). UKHM22-01 returned 0.55 metres at 1,087 g/t AgEq (953 g/t Ag, 3.56% Pb and 0.28% Zn).

Metallic Minerals president, Scott Petsel, stated: “The 2022 drilling at Fox is indicative of the huge potential at East Keno and has significant implications for further exploration success and future resource development. The sheeted Ag-Pb-Zn vein system identified at Fox had not been recognized in the district prior to Metallic’s systematic exploration efforts and our team has since identified additional new areas as potential hosts of similar mineralization. We have now extended mineralization at the Fox deposit over 300 metres along strike and 150 metres down-dip starting from surface, where it remains open in all directions. A total of 18 drill holes define the Fox zone and show good continuity of the broader mineralized system with a relatively shallow dip. Resource modelling is currently underway focused on the large-scale bulk-tonnage resource potential for the Fox target area.

“The company expects to announce additional drill results from both the Keno Silver Project (Primarily at advanced stage targets Formo and Caribou) and the La Plata Cu-Ag Project over the coming weeks and we look forward to discussing these and other developments at events throughout Q1.”