Drilling Confirms Presence of High-Grade Mineralization at Yukon Property

Metallic Minerals reports the results of its 2020 drill campaign targeting the East Keno area of its Keno Hill project.

Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCMKTS) announced in a news release that complete results from 2020 drilling the East Keno area of its Keno Hill project in the Yukon's Keno Hill Silver District "confirmed the presence of high-grade, Keno-style mineralization within broad continuous zones of potential bulk-tonnage silver mineralization."

The East Keno reconnaissance drill program consisted of 30 reverse circulation holes over 2,644 meters (2,644m), which tested only a small portion of the targets the company has thus far identified there.

The company noted that the results also expand the extent of the known mineralization by 10 kilometers to the east and to the south of the historical Keno Hill mine.

"The results from this first phase of wide-spaced RC drilling at East Keno has successfully demonstrated proof of concept with the discovery of multiple high-grade Keno-style mineralized zones, as well as identified broad continuous zones of bulk-tonnage styles of silver mineralization in a previously untested part of the historic Keno Hill silver district," Chairman and CEO Greg Johnson said in the release. "These new drill-based discoveries, with 26 of 30 holes yielding significant intercepts, have confirmed the effectiveness of our systematic geochemical and geophysical exploration techniques and opened a huge area of prospective stratigraphy for exploration to the east of the Keno Hill mine."

The company noted that of the 30 holes drilled, 26 encountered silver mineralization with widths of 10-28m-plus. Further, 30 different higher-grade intervals exceeded a silver equivalent (Ag eq) grade of 100 grams per ton (100 g/t), and seven of those surpassed 500 g/t.

Highlights include:

In the Fox target area, hole KE20-01 encountered numerous high-grade intervals, one of which was 0.77m at 1,416.9 g/t Ag eq (1,145 g/t silver, 2.19% lead and 3.72% zinc).

KE20-02 intersected three separate zones of mineralization from 48-70m grading 52.3 g/t Ag eq, including 0.76m of 683.5 g/t Ag eq.

About 1.2 km south of Fox, in Zone 2, hole KE20-11 encountered multiple higher-grade zones, including 0.76m of 571.3 g/t Ag eq and 1.52m of 174.5 g/t Ag eq.

As for the UKHM target area, 1.1 km south of Zone 2, hole KE20-12 returned 254.7 g/t Ag eq, including 0.76m of 509.9 g/t Ag eq.

Finally, in the Cobalt Hill target area, 4.7 km northeast of Fox, hole KE20-16 intersected 3.81m of 594.3 g/t Ag eq.

This year, Metallic Minerals plans to commence follow-up drilling, ultimately encompassing stepout core and reverse circulation, to determine the width, depth and extensions of the East Keno mineralization.

"We believe there is excellent potential to build and extend on these results through step out core and RC drilling based on the scale of the geochemical and geophysical signatures, and we look forward to an expanded program to follow up on this work," Johnson added.

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