Exploration Work

Historic surface sampling conducted at McKay Hill during the 1920s returned high-grade silver, lead and zinc mineralization associated with vein structures. More recent field work by Metallic Minerals, and its predecessor, confirmed these high Ag-Pb-Zn values as well as the presence of significant gold and copper.

Exploration work completed in 2017 included follow up rock and soil sampling, reconnaissance and detailed mapping of veins in the Central Zone and Independence Ridge areas. In addition, high resolution satellite photography was collected over the entire property to provide mapping and topographic ground control for use in future programs. Soil sampling extended the existing soil grid in the Central Zone to cover open anomalies and a new soil grid was established at the Independence Ridge area. Mapping and prospecting noted some distinctive hydrothermal and structural characteristics to the mineralization, which suggests the potential for a large mineralized system.

Work in 2018 identified 6 separate kilometric-scale target areas with high-grade silver values along with associated lead, zinc and copper mineralization covering an area approximately 3 kilometers by 1.5 kilometers wide in soil and rock sampling (See news release December 4th, 2018, Metallic Minerals Identifies Multiple Kilometer-long Anomalies at McKay Hill, Yukon Territory). The 2018 exploration program further resulted in 18 newly defined vein structures and rock sampling and trenching results that included some spectacular bonanza grades. To date, a total of 61 rock samples have exceeded silver equivalent values in excess of 1,000 g/t silver equivalent values with values up to 4,326 g/t Ag Eq. and while channel sampling yielded results up to 2,126 g/t silver equivalent over 2 meters.

Figure 1 - Rock Sample Geochemistry and Trench Location Map

The assay results from trenching, rock sampling and soil grid work have verified the potential for high-grade silver, lead, and zinc mineralization, as well as demonstrated very significant gold and copper in this emerging district scale property. Two distinct soil anomalies remain open to further expansion covering more than 1.5 kms of total length with elevated silver, gold, lead, zinc and copper values.

Table 1. Highlight Rock Sample Values to Date from McKay Hill:

SampleVeinTypeAg g/tAu g/tPb %Zn %Cu %Ag Eq g/t
29887No. 1 WGrab5020.7746.40.472.403056
526147No. 2Grab6080.2235.23.503.222852
526238No. 61.1m Chip6830.8340.50.400.782770
1907517*No. 6Grab98824.437.73.717.975812
1907519*No. 6Grab7422.3640.014.722.923945
MK002No. 8Grab64616.827.00.140.643314
526245Falls Vein1.1m Chip1.1100.10.020.01787

Metallic Minerals work has significantly expanded the areas of known mineralization, which covers only a small portion of the 44 square kilometer property, supporting the potential for the discovery of additional mineralized targets in future programs. A comprehensive exploration program is being planned for 2019 at McKay Hill in coordination with the Company's Keno Silver Project exploration activities.

Figure 2 - Target Areas over Geophysics

Figure 3 - Target Areas over Soils

Next Steps

While compilation and analysis of the new results is ongoing, the Company envisions the following next steps for the McKay Hill Project:

  • Continued reconnaissance and prospecting of the broader project area including the 42 new claims staked in 2018;
  • Continued mapping, soil sampling and trenching activities to extend the six identified target areas as well as to expand covered with new soil grids over additional targets and extensions of current open anomalies; and
  • Refinement of targets on the Central Zone mineralization for initial drill testing focused on the No. 6 Vein Corridor to assess the composite grades over the length and width of the kilometric scale corridor.
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