Metallic Minerals Completes 2021 Exploration At Keno Hill Silver, Sees Eric Sprott Exercise Warrants For $1.6 Million

Metallic Minerals (TSXV: MMG) announced today that it has completed its 2021 exploration programs at the Keno Silver project in Yukon. The mining firm also reported that resource investor Eric Sprott has exercised all held share warrants for gross proceeds of $1.6 million.

The exploration program at the property that started in June entailed 53 drill holes covering 6,200 metres. The results were able to, among others, expand the extent of drill-defined mineralization, conduct follow-up drilling at new discovery areas, and complete first-pass reconnaissance drilling. The program also involved induced polarization geophysics to determine the potential scale of newly identified mineralized systems.

According to the company, the surveys have also revealed 35 high-priority targets that it plans to investigate in the upcoming 2022 program.

The firm also recognized Sprott’s exercise of his warrants acquired during the private placement conducted in October 2019 through his investing arm 2176423 Ontario Ltd. After the transaction, the Canadian investor now holds 21.5 million shares in the company, effectively owning over 16% equity and maintaining his position as the largest shareholder.

Metallic Minerals last traded at $0.47 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

New Found Gold Sees Sprott Begin To Sell Stake In Company

New Found Gold (TSXV: NFG) has seen a couple of insider transactions filed this evening...

Monday, November 23, 2020, 08:25:03 PM

Metallic Minerals Reports Maiden Resource Of 18.1 Million Oz Silver Equivalent At Keno Silver

Metallic Minerals (TSXV: MMG) published a maiden mineral resource estimate this morning for its Keno...

Monday, February 26, 2024, 09:27:10 AM

AUX Resources Sees Eric Sprott Invest $2.0 Million In Company Following Assay Results

It appears that certain big name investors took notice of the excellent drill results posted...

Thursday, February 11, 2021, 06:43:16 PM

Eric Sprott Says He May Have Lost $100 Million On Pure Gold

Pure Gold Mining (TSXV: PGM) on Monday announced that it had applied for creditor protection...

Tuesday, November 1, 2022, 12:16:00 PM

Movement To Save Canadian Mining From Predatory Short Selling Announces Black Friday Session

Save Canadian Mining (SCM), a movement that aims to “return market rules to the fair...

Tuesday, November 21, 2023, 11:46:00 AM