# Metallic Minerals Provides Keno Silver Project Update and Details 2026 Exploration Plans Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33 Original source: https://money.tmx.com/en/quote/MMG/news/7337552766020437/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati Publisher: tmx Original announcement: 2026-02-10T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Metallic Minerals Corp. - Ticker: MMG - Exchange: TSX - Region: Yukon Territory - Primary commodity: Silver - Secondary commodities: Gold, Lead, Zinc - Document categories: Drill results, Resource update, Other - Extracted: 2026-09-16 10:58:19 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Metallic Minerals provided a strategic update on its Keno Silver project in the Yukon, noting a 18.2 Moz Ag Eq Inferred Mineral Resource. The company highlighted new gold-rich vein systems at the Formo deposit and outlined a 5,000m drill program for 2026 focused on resource expansion and testing new targets. Reasoning: The update provides a strategic overview of the Keno Silver project, highlighting a large Inferred silver resource and new gold-rich targets, while outlining 2026 exploration plans. - Positive factor: District-scale silver project adjacent to producing Hecla mine - Positive factor: Significant Inferred resource of 18.2 Moz Ag Eq - Positive factor: Emerging gold-rich vein system identified at Formo - Positive factor: High-grade silver intercepts reported - Positive factor: Strong silver price environment relative to 2024 MRE assumptions - Negative factor: Resource is 100% Inferred category - Negative factor: High-grade gold intercepts are currently narrow \(0.5m - 1.5m\) Facts used in scoring: 6 ## Classification and evidence **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The 18.2 Moz Ag Eq resource is entirely in the Inferred category. Evidence · text > Total \(underground and open-pit\) NI 43-101 Inferred Mineral Resource of 18.2 Moz silver equivalent **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The 1,413 g/t Ag Eq intercept is exceptionally high grade. Evidence · text > 3.3 m of 1,413 g/t Ag Eq **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release details specific lab protocols, methods \(blanks, standards, duplicates\), and certified reference materials. Evidence · text > the company utilizes a quality control and quality assurance protocol for the project, including insertion of blanks, duplicates, and certified reference materials **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The project is positioned as adjacent to Hecla's producing Keno Hill operations. Evidence · text > The Project is directly adjacent to Hecla Mining Company's \("Hecla"\) Keno Hill mining and milling operations ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (5) ### FOR23-03 [Link to this fact](https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33#fact-drill-facts-1) Keno · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: FOR23-03 - Project: Keno - Commodity: silver - Region: canada\_yt - Reported Region: canada\_yt - Ticker: MMG #### Geometry - Grade: 99.1 - Grade Unit: g/t - Intercept: 46.1 m #### Classification - Sample Type: drill - Group ID: FOR23-03:0-46.1 #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No - Deleterious Elements: lead, zinc #### Metal Equivalent - Metal Eq. Grade: 249.6 - Metal Eq. Unit: g/t Ag Eq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2023-01-01T00:00:00.000Z #### Dates - Event date: 2026-02-10T00:00:00.000Z Reasoning: Strong intercept with high silver equivalent grade. - Positive factor: High grade and significant width Evidence · text > 46.1 m grading 249.6 g/t Ag Eq \(99.1 g/t Ag, 0.52 g/t Au, 0.65% Pb, and 2.62% Zn\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is directly adjacent to Hecla Mining Company's \("Hecla"\) Keno Hill mining and milling operations, Canada's l" ### FOR23-03 [Link to this fact](https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33#fact-drill-facts-2) Keno · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FOR23-03 - Project: Keno - Commodity: gold - Region: canada\_yt - Reported Region: canada\_yt - Ticker: MMG #### Geometry - Grade: 0.52 - Grade Unit: g/t - Intercept: 46.1 m #### Classification - Sample Type: drill - Group ID: FOR23-03:0-46.1 #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No - Deleterious Elements: lead, zinc #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2023-01-01T00:00:00.000Z #### Dates - Event date: 2026-02-10T00:00:00.000Z Reasoning: Trace gold in a silver intercept. Evidence · text > 46.1 m grading 249.6 g/t Ag Eq \(99.1 g/t Ag, 0.52 g/t Au, 0.65% Pb, and 2.62% Zn\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is directly adjacent to Hecla Mining Company's \("Hecla"\) Keno Hill mining and milling operations, Canada's l" ### FOR23-03 [Link to this fact](https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33#fact-drill-facts-3) Keno · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: FOR23-03 - Project: Keno - Commodity: silver - Region: canada\_yt - Reported Region: canada\_yt - Ticker: MMG #### Geometry - Grade: 562.4 - Grade Unit: g/t - Intercept: 3.3 m #### Classification - Sample Type: drill - Group ID: FOR23-03:0-46.1 #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No - Deleterious Elements: lead, zinc #### Metal Equivalent - Metal Eq. Grade: 1413 - Metal Eq. Unit: g/t Ag Eq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2023-01-01T00:00:00.000Z #### Dates - Event date: 2026-02-10T00:00:00.000Z Reasoning: Extremely high grade silver equivalent interval. - Positive factor: Bonanza grade intercept Evidence · text > 3.3 m of 1,413 g/t Ag Eq \(562.4 g/t Ag, 0.20 g/t Au, 2.35% Pb and 20.3% Zn\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is directly adjacent to Hecla Mining Company's \("Hecla"\) Keno Hill mining and milling operations, Canada's l" ### Fact 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33#fact-drill-facts-4) Keno · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Keno - Commodity: gold - Region: canada\_yt - Reported Region: canada\_yt - Ticker: MMG #### Geometry - Grade: 24.8 - Grade Unit: g/t - Intercept: 0.5 m #### Classification - Sample Type: drill #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-10T00:00:00.000Z Reasoning: New gold-rich vein system identified at Formo. - Positive factor: High grade gold intercept - Negative factor: Narrow width Evidence · text > 24.8 g/t Au at 0.5 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is directly adjacent to Hecla Mining Company's \("Hecla"\) Keno Hill mining and milling operations, Canada's l" ### Fact 5 [Link to this fact](https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33#fact-drill-facts-5) Keno · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Keno - Commodity: gold - Region: canada\_yt - Reported Region: canada\_yt - Ticker: MMG #### Geometry - Grade: 10.4 - Grade Unit: g/t - Intercept: 1.5 m #### Classification - Sample Type: drill #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-10T00:00:00.000Z Reasoning: New gold-rich vein system identified at Formo. - Positive factor: High grade gold intercept Evidence · text > 10.4 g/t Au at 1.5 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is directly adjacent to Hecla Mining Company's \("Hecla"\) Keno Hill mining and milling operations, Canada's l" ## Resource Estimates (1) ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/metallic-minerals-provides-keno-silver-project-update-and-details-2026-explorati--f02dc7e0-a33f-402b-9cc3-ec9312474b33#fact-resource-facts-0) Keno Silver · silver Historical result Needs review: historical\_restatement #### Identity - Project: Keno Silver - Commodity: silver - Region: canada\_yt - Reported Region: Yukon Territory - Ticker: MMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:7be8e7a0198a48eea5e8 - Deposit or zone: Formo, Fox, Caribou and Homestake #### Resource Data - Category: inferred - Tonnes: 2500000 - Contained Metal: 18.2 - Contained Unit: moz ag eq #### Prior Estimate - Resource Date: 2024-02-01 #### Metal Equivalent - Metal Eq. Grade: 223 - Metal Eq. Unit: g/t Ag Eq - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-02-26T00:00:00.000Z #### Dates - Event date: 2026-02-10T00:00:00.000Z Reasoning: The 2024 MRE is being restated/referenced as the current baseline. - Positive factor: Large scale silver equivalent resource - Negative factor: Entirely Inferred category Evidence · text > 18.2 Moz silver equivalent \("Ag Eq"\) at 223 g/t Ag Eq across four deposits #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.0 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.