Sunday, June 1, 2025

Latest

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.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

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

New Found Gold Sees Eric Sprott Invest $48 Million In Company

New Found Gold (TSXV: NFG) is raising money again. The company this morning announced that...

Thursday, October 21, 2021, 08:00:09 AM

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

Eric Sprott To Increase New Found Gold Stake To 31.4% Via Share Purchase From Novo Resources

Eric Sprott is substantially increasing his ownership in New Found Gold Corp (TSXV: NFG). It...

Tuesday, April 12, 2022, 09:27:13 AM

TRU Precious Metals Completes $3.5 Million Financing Led By Eric Sprott

TRU Precious Metals Corp. (TSXV: TRU) announced today that it has recently closed its non-brokered...

Friday, June 18, 2021, 09:22:19 AM