Metallic Minerals Corp Stock Price, News & Analysis

Metallic Minerals Corp. (TSX.V:MMG; OTCQB:MMNGF) will present at the Emerging Growth Conference on October 12, 2022, at 9:00 AM PT. CEO Greg Johnson will discuss global metals markets, key projects, and upcoming catalysts, followed by a live Q&A session. The Company is focused on exploration in high-grade silver, gold, and copper projects, including the Keno Silver project in Yukon and the La Plata project in Colorado. Significant assay results are expected soon from recent drill campaigns.

Metallic Minerals has acquired 100% interest in 5 km2 of new mineral properties in the Keno Hill silver district, increasing its total hard-rock land position to 171 km2. The newly acquired Nabob and Rage claims demonstrated significant silver-lead-zinc mineralization with prior drill results returning up to 4,090.6 g/t Ag Eq. The acquisition positions Metallic alongside established players like Hecla Mining. The company plans to initiate drilling on the Nabob vein and pursue alluvial claim developments, anticipating strong growth in exploration and production potential.

Metallic Minerals has launched its 2022 exploration and drilling campaign at the La Plata silver-gold-copper project in Colorado. This follows the earlier release of a new NI 43-101 compliant mineral resource estimate revealing 889 million pounds of copper and 15 million ounces of silver. The current drill program aims to expand known mineralization in the Allard area and support resource growth for 2023. Additionally, the company has applied for a warrant extension for 9,587,500 warrants set to expire on August 13, 2022, to February 13, 2023.

Metallic Minerals (MMNGF) has launched its 2022 field activities at the Keno Silver project in Yukon, a prime silver district. The program includes 3,000 meters of diamond drilling targeting established deposits and new discoveries. The company aims to advance its resources to formal NI 43-101 standards. Recently, Hecla Mining acquired Alexco Resource Corp, enhancing the district's appeal. Additionally, Metallic raised $4.65 million from private placements to fund exploration. The Keno district boasts a history of over 300 million ounces of silver production, underscoring its potential.

Metallic Minerals has successfully closed a second non-brokered private placement financing, raising $617,820 through the issuance of 1,471,000 units at $0.42 per unit. This includes 846,000 flow-through units for $355,320 and 625,000 non flow-through units for $262,500. Proceeds from the flow-through component will fund eligible Canadian Exploration Expenses. The warrants included allow holders to acquire common shares at $0.50 for a period of 30 months. An insider participated by acquiring 25,000 NFT units.

Metallic Minerals has filed a National Instrument 43-101 technical report for the Allard Cu-Ag Porphyry Deposit, revealing an inaugural resource of 889 million pounds of copper and 15 million ounces of silver (Inferred). This milestone is seen as significant for the company's growth prospects. The project team is preparing for further exploration activities, including geophysical surveys and additional drilling. The report, authored by an independent Qualified Person, is available on SEDAR and the company’s website.

Metallic Minerals has successfully completed a non-brokered private placement financing, generating $4,032,000 through the sale of 9,600,000 units at $0.42 each. Each unit comprises one flow-through common share and a half warrant, exercisable at $0.50 for 30 months. Proceeds will fund exploration at the Keno Silver Project in Yukon and other projects. CEO Greg Johnson highlighted the addition of new institutional investors, while the company awaits TSX-V approval.

The financing includes participation from an officer, considered a related-party transaction.

Metallic Minerals has released final assay results from its 2021 drilling at the Keno Silver Project in Yukon, confirming high-grade silver-gold-lead-zinc mineralization at the Formo deposit. Highlights include drill hole FOR21-05, which returned multiple intervals exceeding 1,000 g/t silver equivalent. The results indicate strong potential for resource expansion in the Formo target area, which remains open for further exploration. Plans are underway to define an inaugural resource estimate while continuing exploration efforts, with updates expected soon.

Metallic Minerals Corp. has announced a non-brokered private placement offering of 9,600,000 flow-through units priced at $0.42 per unit, yielding gross proceeds of $4,032,000. The funds will primarily support Canadian Exploration Expenses at its Keno Silver project. Each unit includes a flow-through share and a half warrant, with warrants exercisable at $0.50 for 30 months. Closing is anticipated around June 8, 2022, pending regulatory approval. CEO Greg Johnson expressed optimism about the exploration prospects and investor interest.