METALLA ADDS ROYALTIES ON BARRICK GOLD’S WORLD CLASS LAMA COMPLEX.

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Overig advies 13/12/2022 13:29
Vancouver, British Columbia: Metalla Royalty & Streaming Ltd. (“Metalla” or the
“Company”) (NYSE American: MTA) (TSXV: MTA) is pleased to announce it has entered into a Royalty Purchase Agreement (“RPA”) with an arm’s length third-party dated December 9, 2022, to acquire an existing 2.5% to 3.75% gross value return (“GVR”) royalty on gold and silver, and a 0.25% to 3.0% net smelter return (“NSR” and together with the GVR, the “Royalties”) royalty on copper and other non-precious minerals, extracted from the majority of the Lama project (“Lama”) owned by Barrick Gold Corp. (“Barrick”)(NYSE:
GOLD; TSX: ABX) for total consideration of $7.5 million in common shares and cash (the “Transaction”).
Brett Heath, President & CEO of Metalla, commented, “The Lama project is part of one of the largest gold deposits in the world currently being contemplated by Barrick as a standalone operation. Our royalty will provide Metalla shareholders with outstanding exposure to one of the most significant geological gold bearing trends with a substantial amount of near-term growth, exploration upside, and first in class operator.” Mr. Heath continued “We are excited by the $75 million being spent by Barrick on defining resources
on the Lama extensions most of which is covered by the royalty area. This has resulted in some exciting drill results with a new discovery of a gold-copper porphyry style mineralization at depth. Barrick has initiated a study to evaluate the development of a standalone operation at Lama, on the Argentinean side, expected to be completed in
Q2 2023, and provide a development decision for the Lama project in 2024.”
LAMA (2.5% GVR)(1)(2)(3)(4)(6) Lama is the Argentine portion of the 21Moz gold Pascua-Lama project straddling the
border between Chile and Argentina. The Chilean Pascua portion has been placed into a closure process while the Argentina Lama portion, which has contained metal of 3.13 Moz gold and 236.9 Moz silver, is being considered as a standalone underground project as part of a potential Veladero-Lama complex operation. Barrick has spent over $4 billion on infrastructure in the vicinity and the Lama project would utilize the semi-completed process plant and tailings facilities. Barrick has outlined a block cave underground Lama
project with an initial processing capacity of 13-15 Ktpd with the potential to expand to 30 Ktpd in the future.
Barrick has committed up to $75 million at the Lama project with 10 to 12 drill rigs operating and studies are ongoing to evaluate the capital required to complete the mill and plant facilities in Argentina with a goal to target a development decision in 2024.
Recent drilling in the royalty area has confirmed mineralization 300 meters to the east of the current known resource in an area known as Lama East with significant intercepts including 1.79 g/t AuEq over 96.2 meters. At the Lama porphyry target, drilling confirmed the existence of gold-copper porphyry style mineralization at depth with a footprint of 2- km by 1.5-km. The Lama deposit remains open to the east, south and west of the project where no deep drilling has been conducted.
The gold GVR royalty provides for an escalation feature whereby the royalty rate
increases from 2.5% to 3.75% after 5 Moz of gold production. In addition, the copper royalty which begins at a 0.25% NSR royalty escalates up to a 3.0% NSR royalty based upon the cumulative net smelter returns from the royalty area.

see & read more on
https://www.metallaroyalty.com/_resources/news/2022/MTA_NR_Lama_Royalty.pdf



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