Metals Explorer Turns to AI to Find Mineralized Trends

1. Metallic Minerals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. In addition, Metallic Minerals Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Metallic Minerals Corp.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCQB) announced a strategic collaboration with VRIFY Technology Inc. to implement advanced artificial intelligence (AI) and machine learning technologies across its promising precious metals and critical minerals projects in Canada and the United States, according to a release on October 21.

This partnership represents a significant advancement in Metallic's dedication to innovation and data-driven exploration. By merging decades of geological expertise with VRIFY's powerful AI-assisted mineral discovery platform, Metallic said it aims to utilize AI to analyze extensive geological, geochemical, and geophysical datasets. This will help uncover new patterns, refine exploration targets, and accelerate discovery in world-class mineral districts, including the La Plata Cu-Ag-Au-PGE Project in Colorado and the Keno Silver Project in the Yukon.

"Artificial intelligence is transforming how exploration identifies and advances new mineral resources," said Metallic Minerals Chief Executive Officer Greg Johnson. "Our partnership with VRIFY allows us to apply cutting-edge AI technology to our data-rich projects in globally recognized districts like La Plata and Keno Hill. This approach complements our disciplined exploration methods and strong technical team, positioning Metallic among a select group of explorers pioneering AI-assisted mineral discovery."

With discovery rates declining over the past two decades and demand rising sharply for copper, silver, and other critical minerals, the mining industry faces an urgent need for innovation, the company said.

Metallic’s integration of AI into its exploration process represents a proactive strategy to harness its extensive geological and geophysical datasets, applying advanced analytics to optimize target prioritization and unlock additional value from its district-scale assets — accelerating the path from data to discovery.

"VRIFY’s DORA allows every piece of project data — regardless of when it was collected or its relationship to a specific geological model — to contribute to identifying areas of high-potential mineralization," said VRIFY CEO Steve de Jong. "Metallic's La Plata and Keno Silver projects, with tens of thousands of meters of drilling, extensive geochemical surveys, and district-scale geophysical coverage, are ideal candidates for using our proprietary AI and machine learning models. By combining deep geological expertise with technology that uncovers structural relationships and hidden patterns within massive datasets, we’re revealing the true potential of AI in mineral exploration alongside Metallic’s technical team. We're thrilled to be partnering with Metallic Minerals as one of the early adopters of our exploration intelligence software."

Initial findings from the VRIFY AI system are already uncovering promising new patterns within Metallic's extensive data layers, while also independently confirming known mineralized trends, the company said.

The analysis utilizes both deposit-specific and universal AI exploration models to identify correlations between mineralized zones and underlying datasets. Metallic said it is applying these insights to prioritize follow-up work on new high-potential areas and to refine drill targets for upcoming programs at the company's La Plata and Keno Hill projects.

About the La Plata and Keno Silver Projects

The La Plata Copper-Silver-Gold-PGE Project in southwestern Colorado is a rapidly advancing U.S. discovery with significant scale and growth potential, Metallic Minerals said.

Exploration by the company has outlined a NI 43-101 Inferred Resource of 1.21 billion pounds of copper and 17.6 million ounces of silver, with an upcoming resource update expected to include platinum, palladium, and gold, expanding the copper and silver inventory. The 25-square-kilometer porphyry system hosts 10 additional porphyry centers and 15 high-grade epithermal targets, showcasing exceptional district-scale opportunity.

Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) holds a 9.5% strategic investment with three follow-on top-ups, supporting accelerated project advancement. Recognized by the U.S. Geological Survey under its Earth MRI program as a potential critical minerals resource area, La Plata combines large-scale copper and silver resources with high-value critical minerals — including rare earth and other import-dependent technology metals — positioning it as a compelling potential emerging domestic source of critical minerals in the United States.

The Keno Silver Project in Canada's Yukon Territory offers significant exposure to the growing silver market. The company holds the second-largest land position in the historic, high-grade Keno Hill District, directly adjacent to Hecla Mining’s operations, one of North America's largest primary silver producers.

Hecla Mining's recent shift to positive free cash flow and its expansion of high-grade resources highlight the district's renewed vitality and infrastructure benefits.

Metallic’s NI 43-101 Inferred Resource of 18.2 million silver equivalent ounces, contained in shallow, open-pittable mineralization, provides a low-cost, scalable complement to Hecla Mining’s underground operations, emphasizing the potential for a hybrid mining model that could boost overall district production and extend mine life.

With multiple resource-ready and new discovery targets set for advancement through 2026, Metallic said it is well-positioned to lead the next phase of growth in this world-class silver district.

A 'Compelling' Copper-Silver-Gold Exploration Story

In an updated research note dated September 8, Couloir Capital highlighted that Metallic Minerals has reached several exploration milestones at its La Plata Copper and Keno Silver projects, including starting to earn royalties from alluvial gold claims at Australia Creek in the historic Klondike gold district.

The La Plata project has yielded impressive high-grade surface results, with recent assays showing grades up to 6.68% copper equivalent (Cu Eq). These findings significantly enhance the project's profile and support the case for near-term drilling, emphasizing the under-explored potential of the broader La Plata district. The discovery of both light and heavy rare earth metals further enhances the project's strategic value, Couloir noted.

"Based on our analysis and valuation models, we maintain our BUY rating and update our fair value per share estimate to CA$0.80 (earlier CA$0.57)," Couloir stated. This represents a projected 167% upside from the share price at the time of writing.

Catalysts expected to impact the company's valuation model, according to Couloir, include news from exploration at the La Plata, Keno Silver, or Klondike projects; updates expanding the resource base at La Plata; any delays in exploration or permitting; and financing-related news that could alter the company's capital structure.

On July 1, John Newell of Newell & Associates commented that Metallic Minerals "is emerging as a compelling copper-silver-gold exploration story, supported by some of the most astute investors in the industry."

He added, "The company's flagship La Plata Project in southwest Colorado is being likened to world-class porphyry systems such as Cadia, a Newmont project in Australia."

The vast scale of the alteration system, spanning over 25 square kilometers and featuring several unexplored targets, including zones similar to Ridgeway that could hold significantly higher grades, is particularly noteworthy. With all necessary permits in place and the advantage of Newmont's technical expertise on-site, 2025 is set to be a pivotal year for the project, Newell stated.

On October 15, Peter Krauth of the Silver Stock Investor said the company was making "nice progress across its Yukon gold and silver royalty portfolio and its flagship Keno Silver project, ... capitalizing on rising gold, silver and copper prices, the company is launching a series of exploration and development programs designed to boost near-term royalty income while expanding long-term resource growth across its Canadian and U.S. assets."

The Catalyst: Volatility Creeps Into Bull Market

Gold and silver prices are significantly lower in early U.S. trading on Tuesday, according to a report by Jim Wyckoff for Kitco News on October 21. Improved risk appetite in the broader market early this week is negative for these safe-haven metals. U.S. stock indexes have rebounded close to their recent record highs.

December silver prices fell US$2.23 to US$49.16. Bargain hunters were active in gold and silver on Monday, stepping in to buy after last Friday’s significant price drops.

Daily price volatility in gold and silver futures markets has become extreme. This is not bullish and suggests, at most, a climaxing phase of the major bull market runs, or at least, a period of choppy, highly volatile trading that could deter both speculative bulls and bears in the gold and silver futures markets due to the risk of getting whipsawed.

Commodity market traders are closely monitoring the gold and silver markets this week. Their extreme price volatility could lead to increased volatility in other futures markets.

Silver mine production has consistently fallen short of demand for years, and Metals Focus forecasts that the silver market is heading toward one of the largest supply deficits on record, estimated at 187.6 million ounces for 2025. This substantial shortfall has led many silver analysts to confidently predict US$50 silver, according to Pistilli. While higher prices might prompt companies to cut back on their silver usage, some analysts highlight that the significant growth of the solar sector will sustain strong demand, as Neils Christensen reported for Kitco News on October 6.

Although sentiment in the U.S. is shifting in the latter half of the year, solar power and energy storage accounted for 82% of new U.S. electricity capacity in the first half of 2025, Christensen noted.

Ownership and Share Structure

According to Metallic Minerals' Investor Presentation, ownership of the company breaks down this way: management and associates own 15%, Newmont Corp. holds 9.5%, Eric Sprott has 10.5% and high net worth individuals own 15%.

Institutional ownership totals 20%. The remainder, 30%, is in retail.

As of October 21, the Canadian explorer has 212.22 million issued and outstanding shares. Its market cap is CA$71.09 million. Refinitiv reports Metallic Mineral's 52-week range is CA$0.13–CA$0.43 per share.