Metallic Minerals (MMNGF) Stock News

Metallic Minerals (MMNGF) has identified significant critical minerals potential at its La Plata copper-silver-gold-PGE project in Colorado. The project has shown elevated levels of light and heavy rare earth elements along with fluorine, gallium, scandium, tellurium, and vanadium. These discoveries complement the project's existing copper, platinum, palladium, silver, and gold resources. La Plata represents a rare combined critical mineral and base/precious metal system in the USA, with the USGS designating it as a Critical Minerals Resource Area. The project features a unique alkalic porphyry system that hosts one of the broadest suites of critical minerals documented. The company is advancing geochemical modeling and metallurgical testing to evaluate critical minerals recovery following copper and silver extraction. This positions La Plata as a strategic source for critical minerals essential for advanced technologies, clean energy, and defense applications in the U.S.

Metallic Minerals (MMNGF) has signed a new production royalty agreement for alluvial gold claims at its Australia Creek property in the Klondike Gold District, Yukon Territory. The agreement covers one mile of claims and marks the second agreement at Australia Creek, expanding the Company's leased ground to over two miles.

The new operator, bringing 40+ years of Yukon gold mining experience, must meet a $500,000 annual work commitment and pay a 12% royalty on all gold production. Production is anticipated to begin summer 2025, with at least two gold mining operations expected on the Company's Klondike claims for the 2025 season.

This expansion follows the Company's first gold production at Australia Creek in 2023 and 2024. Camp setup and road clearing are currently underway in preparation for exploration drilling and mine operations on the two leased blocks.

Metallic Minerals (TSX-V:MMG/OTCQB:MMNGF) has announced key achievements and 2025 catalysts across its mining projects. The company released an inaugural NI 43-101 Inferred Mineral Resource Estimate at the Keno Silver project, reporting 18.2 million ounces silver equivalent within 2.5 million tonnes at 233 g/t silver equivalent.

At the La Plata project, funded by Newmont 's 9.5% strategic investment, the company completed 4,530 meters of drilling and advanced four new targets to drill-ready status. The current resource includes 1.21 billion pounds of copper and 17.6 million ounces of silver. An updated resource estimate, including platinum, palladium, and gold analyses, is expected in Q2-2025.

The company received royalty payments from gold production at the Australia Creek property in the Klondike district, with expanded production expected in 2025. Dr. Stephen Enders, former Newmont SVP of Worldwide Exploration, joined the Board of Directors.

Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) has applied for TSX Venture Exchange approval to extend the expiry dates of two sets of share purchase warrants. The first set comprises 4,800,000 warrants from June 8, 2022, originally expiring December 8, 2024, to be extended to June 8, 2025. The second set includes 735,500 warrants from June 30, 2022, originally expiring December 30, 2024, to be extended to June 30, 2025. Both warrant sets are exercisable at $0.50 per warrant. All other warrant terms remain unchanged.

Newmont has exercised its 'top-up right' to purchase 577,776 additional shares of Metallic Minerals at $0.36 per share, maintaining its 9.5% stake as per the Investor Rights Agreement dated May 18, 2023. This transaction is pending customary closing conditions, including approval from the TSX Venture Exchange.

Newmont had previously invested $6.3 million in a 4,500-meter drill program at Metallic Minerals' La Plata project in Colorado, showing significant potential for a district-scale, precious-metal-rich porphyry system. Resource modeling is ongoing to update the resource estimate for the Allard deposit, expected in Q4 2024.

Newmont continues to provide technical support and expertise to the project team, enhancing surface data acquisition and geologic mapping. CEO Greg Johnson expressed satisfaction with the collaboration and noted positive sentiment at the recent Precious Metals Summit.

On July 3, 2024, Metallic Minerals announced the closing of the second and final tranche of its non-brokered private placement, raising a total of $2,025,000. The final tranche involved the sale of 1,062,500 flow-through common shares at $0.40 each, generating $425,000. CEO Greg Johnson stated the funds will support the Keno Silver and Klondike Gold projects. Upcoming activities include drilling at the Formo target and development of alluvial gold royalty properties in the Klondike Gold district. Funds will also support field activities at the La Plata project in Colorado. All securities are subject to a four-month hold period and the offering requires TSX Venture Exchange approval. Certain directors and officers participated in the offering, contributing $51,000.

Metallic Minerals announced the closure of a $1.6 million first tranche of a non-brokered private placement financing. The company issued 4,000,000 flow-through shares at $0.40 each. The funds will support resource expansion at the Keno Silver Project in the Yukon Territory, including additional exploration in Klondike District's gold royalty portfolio. CEO Greg Johnson expressed satisfaction with the interest from Canadian investment funds. The next tranche is expected to close by June 28, 2024. The issued securities are subject to a four-month hold period and the completion is pending TSX-V approval.

Metallic Minerals, trading on TSX.V as MMG and OTCQB as MMNGF, has announced a non-brokered private placement of up to 5,000,000 flow-through common shares at $0.40 per share. This financing aims to raise up to $2,000,000. The proceeds will be directed toward eligible Canadian Exploration Expenses at the Company's Keno Silver project and alluvial gold royalty portfolio in Yukon Territory. Red Cloud Securities Inc. will assist on a 'best efforts' basis. The offering is expected to close around June 24, 2024, and is subject to TSX-V approval. The issued shares will have a hold period of four months and one day.

Metallic Minerals announced the initiation of its 2024 exploration programs at the Keno Silver project in Yukon, Canada, and the La Plata copper-silver-gold-PGE project in Colorado, USA. At Keno Silver, which reported an inaugural resource of 18.2 million ounces of silver equivalent, diamond drilling will commence in July, focusing on resource expansion at the Formo target. La Plata's field programs have begun, targeting high-priority areas like Copper Hill, Renegade, and Morningstar. Drilling will focus on extending mineralization at the Allard resource area. Newmont exercised its 'top-up right' to purchase additional shares, maintaining a 9.5% interest in Metallic Minerals. The company will participate in key industry events like the Yukon Mining Alliance Property Tours & Investment Conference and the National Western Mining Conference & Exhibition.