All amounts expressed in Canadian Dollars
unless otherwise noted
TSXV: MTA
OTCQB: MTAFF
VANCOUVER, Aug. 16, 2019 /CNW/ - Metalla Royalty
& Streaming Ltd. ("Metalla" or the
"Company") (TSXV: MTA) (OTCQB: MTAFF) is pleased to announce
that the Company has completed the closing on its previously
announced acquisition of a 3.0% NSR royalty on St Barbara Ltd.'s
Fifteen Mile Stream project for $2
million from a third party in accordance with a purchase and
sale agreement. As consideration for the transaction, Metalla has
made an upfront payment of $0.5
million in cash, with an additional payment of up to
$1.5 million upon the exercise of the
royalty payor's buy-back right to purchase two-thirds of the 3.0%
NSR royalty for a period of five years.
PORTFOLIO UPDATE
Santa Gertrudis (2.0% NSR
Royalty)
Agnico Eagle Mines Limited ("Agnico Eagle") reported on
July 24, 2019 that they continue
to expand mineralization at the Santa
Gertrudis project in Mexico. The Trinidad zone has been extended by 800 meters
to more than 3 kilometers strike length. Drilling extended the
newly discovered Amelia deposit to a 700-meter strike length and a
total depth of 450 meters. Notable intercepts by Agnico Eagle
include 8.2g/t gold over 7.3m and
8.8g/t gold over 6m.
Moreover, drilling at the Becarros zone has discovered new
mineralization known as the Bertha target, located 250m northwest of the Becerros Norte deposit;
highlighted by 2.1g/t gold over 9.5m;
150m to the south west and 3g/t over
8m. Half of the 2019 supplementary
11,500m drill program continues at
Santa Gertrudis intending to
explore new targets and expand the mineral resources. Agnico has
stated they continue to believe that the Santa Gertrudis project has the potential to
eventually be a similar size operation to the La India Mine.
El Realito (2.0% NSR
Royalty)
At El Realito, Agnico Eagle
reported exploration drilling continued to extend the
mineralization laterally and confirm structures to the east. Agnico
Eagle increased the drill program at La India in 2019 by an
additional 5,000-meters to further expand mineral resources.
Drilling in the main structure has yielded several oxide intercepts
including 0.6g/t gold and 4g/t silver over 13.2m and 0.6g/t gold and 4g/t silver over
8.4m which were both within
100m of the surface. Drilling 300
meters east of the main structure, intersected 0.8g/t gold and
110g/t silver over 11.2m and 3.1g/t
gold and 27g/t silver over 3.4m which
were also within 100m of the surface.
The El Realito mineralized system
remains open, and Agnico Eagle expects to increase the year-end
resource estimate.
COSE & Joaquin (1.5% & 2.0% NSR
Royalty)
Pan American Silver Corp. ("Pan American Silver")
disclosed in their Q2 results on August
7, 2019 and related conference call that they spent a
combined US$7.0 million on the
Joaquin and COSE projects during Q2 2019. Underground development
and ground support system implementation is continuing to advance
as they move closer to production.
Development at COSE has extracted 1,500 tonnes at 2600g/t silver
and 33g/t gold which is currently stockpiled on surface. This grade
compares favorably with the reserve grade at COSE of 918g/t silver
and 17.7g/t gold. At COSE, Pan American Silver expects that
production in late 2019 will be limited to development material
with stope production in Q1 2020.
Metalla expects the timeline for stope production at Joaquin to
begin by the end of 2019 as development will continue after further
ground support system implementation in the next few weeks.
QUALIFIED PERSON
The scientific and technical information contained in this press
release has been approved by Charles
Beaudry, M.Sc., P.Geo. and géo., a qualified person within
the meaning of NI 43-101.
ABOUT METALLA
Metalla is a precious metals royalty and streaming company.
Metalla provides shareholders with leveraged precious metal
exposure through a diversified and growing portfolio of royalties
and streams. Our strong foundation of current and future
cash-generating asset base, combined with an experienced team gives
Metalla a path to become one of the leading gold and silver
companies for the next commodities cycle.
For further information, please visit our website at
www.metallaroyalty.com
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
President and CEO
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accept
responsibility for the adequacy or accuracy of this
release.
Technical and Third-Party Information
Metalla has limited, if any, access to the properties on
which Metalla holds a royalty, stream or other interest. Metalla is
dependent on, (i) the operators of the mines or properties and
their qualified persons to provide technical or other information
to Metalla, or (ii) on publicly available information to prepare
disclosure pertaining to properties and operations on the mines or
properties on which Metalla holds a royalty, stream or other
interest, and generally has limited or no ability to independently
verify such information. Although Metalla does not have any
knowledge that such information may not be accurate, there can be
no assurance that such third-party information is complete or
accurate. Some information publicly reported by operators may
relate to a larger property than the area covered by Metalla's
royalty, stream or other interest. Metalla's royalty, stream or
other interests can cover less than 100% and sometimes only a
portion of the publicly reported mineral reserves, resources and
production of a property.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and U.S. securities legislation. The forward-looking
statements herein are made as of the date of this press release
only, and the Company does not assume any obligation to update or
revise them to reflect new information, estimates or opinions,
future events or results or otherwise, except as required by
applicable law.
Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budgets", "scheduled", "estimates", "forecasts",
"predicts", "projects", "intends", "targets", "aims", "anticipates"
or "believes" or variations (including negative variations) of such
words and phrases or may be identified by statements to the effect
that certain actions "may", "could", "should", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
and information include, but are not limited to, statements with
respect to exploration, development and production at mines on
which Metalla holds a royalty and proposed future transactions
Metalla may undertake and their expected timing. Forward-looking
statements and information are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions
that, while believed by management to be reasonable, are inherently
subject to significant business, economic and competitive
uncertainties, and contingencies. Forward-looking statements and
information are subject to various known and unknown risks and
uncertainties, many of which are beyond the ability of Metalla to
control or predict, that may cause Metalla's actual results,
performance or achievements to be materially different from those
expressed or implied thereby, and are developed based on
assumptions about such risks, uncertainties and other factors set
out herein, including but not limited to: the requirement for
regulatory approvals and third party consents, the impact of
general business and economic conditions, the absence of control
over the mining operations from which Metalla will purchase gold
and receive royalties, including risks related to international
operations, government relations and environmental regulation, the
inherent risks involved in the exploration and development of
mineral properties; the uncertainties involved in interpreting
exploration data; the potential for delays in exploration or
development activities; the geology, grade and continuity of
mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with Metalla's
expectations; accidents, equipment breakdowns, title matters, labor
disputes or other unanticipated difficulties or interruptions in
operations; fluctuating metal prices; unanticipated costs and
expenses; uncertainties relating to the availability and costs of
financing needed in the future; the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; currency
fluctuations; regulatory restrictions, including environmental
regulatory restrictions; liability, competition, loss of key
employees and other related risks and uncertainties. Metalla
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. Some of the disclosure
in this press release is based on information publicly disclosed by
the owners or operators of these properties and information/data
available in the public domain as at the date hereof, and none of
this information has been independently verified by
Metalla.
Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements.
SOURCE Metalla Royalty and Streaming Ltd.
