La Plata - Colorado, USA
Metallic Minerals announced an updated NI 43-101 Inferred Mineral Resource Estimate for the La Plata project in July 2023, representing a 25% increase in tonnage based on an additional 1,730 m of diamond drilling completed in 2022. Inferred Mineral Resources at the Allard deposit now total 1,211 Mlbs of Cu and 17.6 Moz of Ag in a constrained model with 147.3 Mt at an average grade of 0.41% CuEq (0.37% Cu and 3.72 g/t Ag) using a 0.25% CuEq cut-off grade1.
The expansion from the inaugural Inferred Mineral Resource to the current 1,317 Mlbs CuEq (0.37% Cu and 3.72 g/t Ag)1 is largely driven by the major discovery in drill hole LAP22-04 (drilled in 2022), which intersected 816.0 m of 0.41% CuEq (0.30% Cu, 2.47 g/t Ag, 0.04 g/t Au, 0.06 g/t Pt and 0.09 g/t Pd) ending the hole in 5.39% CuEq over 5.2 m (2.44% Cu, 18.7 g/t Ag, 0.47 g/t Au, 1.76 g/t Pt and 2.78 g/t Pd)2.
The greater La Plata Cu-Ag-Au project remains underexplored and open to new discoveries of both additional porphyry Cu centers as well as high-grade epithermal Ag and Au systems.
La Plata Inferred Mineral Resource Estimate at a Base Case Cut-off Grade of 0.25% CuEq with Grade and Contained Metal Sensitivity Analysis at Various CuEq Cut-off Grades, July 12, 20233
Class | CuEq (%) | Tonnes | Cu | Ag | CuEq (%) | |||
Cut-off | Grade (%) | Mlbs | Grade (g/t) | Ounces | Grade (%) | Mlbs | ||
Inferred | 0.15 | 212,243,000 | 0.32 | 1,480 | 3.24 | 22,131,000 | 0.34 | 1,613 |
Inferred | 0.20 | 187,173,000 | 0.34 | 1,391 | 3.42 | 20,597,000 | 0.37 | 1,515 |
Inferred | 0.25 | 147,344,000 | 0.37 | 1,211 | 3.72 | 17,604,000 | 0.41 | 1,317 |
Inferred | 0.30 | 116,438,000 | 0.41 | 1,041 | 3.95 | 14,783,000 | 0.44 | 1,130 |
Inferred | 0.35 | 87,871,000 | 0.44 | 854 | 4.20 | 11,861,000 | 0.48 | 925 |
Keno Silver - Yukon, Canada
An inaugural NI 43-101 Inferred Mineral Resource Estimate was announced in February 2024 showing the Keno Silver project to host 18.2 Moz AgEq grading 223 g/t AgEq (120 g/t Ag, 0.10 g/t Au, 0.80% Pb and 1.77% Zn)4 in four shallow deposits, each of which remains completely open at depth and along strike (click here for full mineral resource estimate).
Underground Inferred Mineral Resources, restricted to the Formo deposit, are estimated at 1.08 Mt grading 206 g/t Ag, 0.08 g/t Au, 1.52% Pb, and 2.79% Zn (369 g/t AgEq)4. The Estimate includes 7.11 Moz of Ag, 3,000 Oz of Au, 36.02 Mlbs of Pb, and 66.14 Mlbs of Zn (12.8 Moz AgEq at a 150 g/t AgEq cut-off)4. Formo is the largest and highest-grade contributor to the 2024 Estimate.
In-Pit Inferred Mineral Resources are estimated at 1.46 Mt grading 58 g/t Ag, 0.12 g/t Au, 0.28 % Pb, and 1.02% Zn (115 g/t AgEq) and include resources of 2.70 Moz of Ag, 5,500 Oz of Au, 8.86 Mlbs of Pb, and 32.95 Mlbs of Zn (5.40 Moz AgEq at a 50 g/t AgEq cut-off).4
The resource is the culmination of 19,701 m of drilling from 168 drill holes over six active field seasons. Subsequent campaigns, anticipated to commence in the 2025 field season, will focus on resource expansion through the drilling of extensions to current deposits, definition drilling of very prospective early-stage drilled targets to new resources, as well as targeting new discoveries at high-priority targets that have yet to be drill tested.
Keno Project Inferred Mineral Resource Estimates at an In-Pit Base Case Cut-off Grade of 50 g/t AgEq and Underground Base Case Cut-off Grade of 150 g/t AgEq, February 1, 20245
Deposit | Cut-off Grade (AgEq g/t) | Tonnes | AgEq (g/t) | Ag (g/t) | Au (g/t) | Pb (%) | Zn (%) | AgEq (Moz) | Ag (Moz) | Au (oz) | Pb (Mlbs) | Zn (Mlbs) |
Caribou | 50 | 589,000 | 149 | 94 | 0.09 | 0.50 | 0.82 | 2.82 | 1.78 | 2,000 | 6.46 | 10.60 |
Fox | 50 | 793,000 | 83 | 28 | 0.02 | 0.09 | 1.26 | 2.11 | 0.73 | 500 | 1.53 | 22.04 |
Homestake | 50 | 78,000 | 187 | 77 | 1.10 | 0.50 | 0.18 | 0.47 | 0.19 | 3,000 | 0.87 | 0.31 |
Sub-Total | 50 | 1,460,000 | 115 | 58 | 0.12 | 0.28 | 1.02 | 5.40 | 2.70 | 5,500 | 8.86 | 32.95 |
Formo | 150 | 1,075,000 | 369 | 206 | 0.08 | 1.52 | 2.79 | 12.77 | 7.11 | 3,000 | 36.02 | 66.14 |
Total | 2,535,000 | 223 | 120 | 0.10 | 0.80 | 1.77 | 18.16 | 9.81 | 8,500 | 44.88 | 99.08 |
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