Metallica Metals
Corp.
(CSE:MM)
(OTC:MTALF)
(FWB:SY7P)
(the
“
Company”
or “
Metallica Metals”) is pleased to announce that
it has commenced a 4,000 metre diamond drilling program on its
Starr Gold-Silver Project (“
Starr” or the
“
Project”) located in the Thunder Bay Mining
District of Ontario. The Project, which the Company has the right
to earn up to a 100% interest from Benton Resources Inc.
(TSXV:BEX), covers a large land position (5,991 ha) that includes
several high-grade gold and silver occurrences within a 20 km long
segment of the southwestern section of the Shebandowan Greenstone
Belt. The Project is accessible year-round by highway and logging
roads and is located in close proximity to the Moss Lake gold
deposit owned by Goldshore Resources Inc. and the Huronian Gold
Property owned by Kesselrun Resources Ltd. (
Figure
1).
Figure 1: Location of Metallic
Metals’ Starr gold-silver project with respect to adjacent
properties including the Moss Lake gold deposit (sources: 2013 NI
43-101 Technical Report and PEA for the Moss Lake Project and
Kesselrun Resources October 7, 2020 news
release)https://www.globenewswire.com/NewsRoom/AttachmentNg/12edf6f5-bc01-4a5b-bf4a-5ee036b8044d
Please note: The adjacent Moss
Lake gold deposit hosts an Indicated Mineral Resource of 39,797,000
tonnes grading 1.1 g/t Au for 1,377,300 contained ounces of gold
and an Inferred Mineral Resource of 50,364,000 tonnes grading 1.1
g/t Au for 1,751,600 contained ounces of gold, and is currently
under care and maintenance (source: NI 43-101 Technical Report and
PEA for the Moss Lake Project with an effective date of May 31,
2013 and filed on SEDAR under Moss Lake Gold Mines Ltd., now
Wesdome Gold Mines Ltd.). Readers are cautioned that mineralization
and mineral resource estimates on adjacent and/or nearby properties
are not necessarily indicative of mineralization on the Starr
Project (please refer to additional cautionary statements
below).
Paul Ténière, CEO and Director of Metallica
Metals commented, “We are very excited to commence our first
diamond drilling program at Starr. Our geological team have
developed high priority targets at Starr based on our recent
airborne geophysical survey results and within areas that have
historically been known to host high grade gold and/or silver
mineralization. The Shebandowan Greenstone Belt is emerging as a
significant gold district with our neighbours Goldshore Resources
recently launching a 100,000 m drilling program on the nearby Moss
Lake gold deposit. We look forward to testing our drill targets and
will keep the market up to date on our exploration activities over
the coming weeks.”
Starr Drilling Program
Summary
Metallica Metals plans to focus its initial
diamond drilling program on a combination of historical high-grade
gold and silver mineral occurrences within the Starr Project as
detailed below and shown in Figures 2 to 4. The three main areas to
be tested are the Central, Eastern, and Western Starr target areas.
Drilling will test several structural and geophysical targets
determined from the Company’s recently completed airborne mag-EM
survey, in combination with all historical geochemical,
geophysical, and geological data from the Project. Drilling
supervision, and core logging and sampling will be managed by
Fladgate Exploration Consulting Corp. of Thunder Bay and diamond
drilling will be completed by Missinaibi Drilling Services Ltd. of
Timmins.
Central Starr Target Area
Drilling around the central portion of the
property (Central Starr) will be focused on the Starr Showing and
Powell Zone (Figure 2). The Company has used
available historical data, recommendations from previous work
reports, as well as targets from a newly completed geophysical and
structural interpretation to plan drill holes in this area. Several
drill holes will act as infill, testing the continuity between
known values, while others will test structures that have never
been drill tested that also hold gold values at surface.
Figure 2: Planned drilling
(red) in the Central portion of the Starr Property with known
showings and gold values from grab and soil sampling, underlain by
TMI (Total Magnetic Intensity from the First Vertical
Derivative)https://www.globenewswire.com/NewsRoom/AttachmentNg/6161332e-016b-453f-aef8-5ee6a45d3b09
Eastern Starr Target Area
Drilling on the eastern side of the property
(Eastern Starr) will be focused around the CK Showing (also
referred to as the Keats Zone) and the continuation of the Megan
Vein (Figure 3). The CK Showing has never been
drill tested and returned up to 16.5 g/t Au and 349 g/t Ag from
select samples at surface based on historical assessment reports.
Two drill holes have also been planned in proximity to the Megan
Vein to test the continuity of mineralization in that area. One of
these holes is along strike from the vein and located within an IP
(Induced Polarization) high, while the other is on the edge of an
IP high with multiple significant gold values found at surface.
Both have also never been drill tested and are planned to angle
into the 2nd order structure that has been interpreted in the
area.
Figure 3: Planned drilling
(red) on the Eastern Side of the Starr Property with known showings
and gold values from grab and soil sampling, underlain by TMI
(Total Magnetic Intensity from the First Vertical
Derivative)https://www.globenewswire.com/NewsRoom/AttachmentNg/d7aafa8c-53f4-4c27-892a-f9189768d7db
Western Starr Target Area
On the western side of the property (Western
Starr), no historical drilling has occurred (Figure
4). The Company will first target the South Showing, which
returned up to 5.6 g/t Au from grab sampling and 8.5 g/t Au over 1
m from channel sampling based on historical assessment reports. The
drill holes will angle back towards a major fault that has been
interpreted to run through the entire property. The West Showing is
geologically peculiar, lying in an ultramafic unit perpendicular to
the remaining geology at Starr. Further geological mapping and
ground truthing of this intrusive unit will be completed prior to
the drill rig moving into this area to fine tune drilling
targets.
Figure 4: Planned drilling
(red) on the West Side of the Starr Property with known showings
and gold values from grab and soil sampling, underlain by TMI
(Total Magnetic Intensity - First Vertical
Derivative)https://www.globenewswire.com/NewsRoom/AttachmentNg/985b853d-cab2-4ead-9c5a-734688a240f4
Data Verification and Cautionary
Statements
A Qualified Person has not fully verified the
historical results disclosed in this news release including any
sampling, analytical, and test results underlying this information,
other than reviewing the geological information and exploration
results disclosed in the Ontario Mineral Deposit Inventory
assessment files from previous operators referenced above for the
Starr Project, and any other available public information including
NI 43-101 technical reports. The Company and a Qualified Person
plan to complete a detailed review and verify the available
scientific and technical information on the Starr Project as part
of its exploration and drilling programs over the next several
months. However, based on a preliminary assessment of this
historical information it appears recent drilling and analytical
results by Teck Cominco and Benton Resources were completed using
mining industry best practices and QAQC protocols at the time. The
historical scientific and technical information disclosed in this
news release provides an indication of the exploration potential of
the Starr Project but may not be representative of expected results
once the Company completes its own exploration and drilling
programs on the Starr Project.
This news release also contains scientific and
technical information with respect to adjacent or similar mineral
properties to the Starr Project, which the Company has no interest
in or rights to explore. Readers are cautioned that information
regarding mineral resources, geology, and mineralization on
adjacent or similar properties is not necessarily indicative of the
mineralization on the Company’s properties.
Qualified Person Statement
All scientific and technical information
contained in this news release was prepared and approved by Paul
Ténière, M.Sc., P.Geo., CEO and Director of Metallica Metals Corp.,
who is a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors
METALLICA METALS CORP.Paul Ténière, M.Sc.,
P.Geo.CEO and Directorinfo@metallica-metals.com
Head
Office:Suite 810 – 789 West Pender StreetVancouver, BC V6C
1H2 CanadaPh: (604) 687-2038 |
Toronto
Office:Suite 401 – 217 Queen Street WestToronto, ON M5V
0R2 Canada |
About Metallica Metals Corp.
Metallica Metals Corp. is a Canadian junior
mining company listed on the Canadian Securities Exchange (“CSE”)
and its common shares trade under the ticker symbol “MM”. The
Company is focused on acquiring and exploring gold-silver and
platinum group metal (PGM) properties across Canada. The Company is
currently exploring and developing its Starr gold-silver project,
and Sammy Ridgeline and Richview Pine PGM projects, which are all
located adjacent to advanced mining projects in the Thunder Bay
Mining District of Ontario.
For more information, please visit the Company’s
website at https://metallica-metals.com.
Neither the Canadian Securities Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking Information
Statement
This news release contains certain
“forward-looking information” within the meaning of applicable
securities law. Forward-looking information is frequently
characterized by words such as “plan”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and other similar
words, or statements that certain events or conditions “may” or
“will” occur. In particular, forward-looking information in this
press release includes, but is not limited to, statements with
respect to the Company’s proposed acquisition, exploration program
and the expectations for the mining industry. Although we believe
that the expectations reflected in the forward-looking information
are reasonable, there can be no assurance that such expectations
will prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking information is based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
general economic conditions in Canada and globally; industry
conditions, including governmental regulation and environmental
regulation; failure to obtain industry partner and other third
party consents and approvals, if and when required; the
availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market
volatility; liabilities inherent in water disposal facility
operations; competition for, among other things, skilled personnel
and supplies; incorrect assessments of the value of acquisitions;
geological, technical, processing and transportation problems;
changes in tax laws and incentive programs; failure to realize the
anticipated benefits of acquisitions and dispositions; and the
other factors. Readers are cautioned that this list of risk factors
should not be construed as exhaustive.
The forward-looking information contained in
this news release is expressly qualified by this cautionary
statement. We undertake no duty to update any of the
forward-looking information to conform such information to actual
results or to changes in our expectations except as otherwise
required by applicable securities legislation. Readers are
cautioned not to place undue reliance on forward-looking
information.
Benton Resources (TSXV:BEX)
過去 株価チャート
から 7 2024 まで 8 2024
Benton Resources (TSXV:BEX)
過去 株価チャート
から 8 2023 まで 8 2024