MMG Metallic Minerals Concludes 2023 Exploration at La Plata Project
MMG Metallic Minerals has successfully completed its 2023 exploration program at the La Plata copper-silver-gold-PGE project in Colorado, USA. The program involved drilling 4,530 meters across four diamond drill holes to expand the existing mineral resource. This follows the discovery of substantial mineralization in the 2022 drill hole LAP22-04, which yielded 816 meters of continuous mineralization. Assay results from the current drilling are pending, expected in early 2024, and will contribute to updating the current mineral resource estimate announced in July 2023.
The exploration program was significantly funded by a strategic equity investment from Newmont Mining, which acquired a 9.5% stake in Metallic Minerals. This partnership aimed to accelerate the development of the La Plata project.
Key highlights of the 2023 field campaign include:
- Completion of drilling totaling 4,530 meters in depth, with each hole intersecting porphyry-style mineralization.
- Extension of mineralization to over 1.5 kilometers vertically, starting from the surface.
- Conducting an advanced airborne hyperspectral survey across 157 square kilometers for detailed mineral and alteration mapping.
- Scanning of 3,848 meters of drill core for detailed characterization of mineralization and alteration within the Allard deposit.
- Expansion of surface sampling, including additional soil and rock samples, to identify new high-priority target areas.
