VANCOUVER, BC, July 28, 2021 /CNW/ - Metallis Resources
Inc. (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the "Company"
or "Metallis") is pleased to announce the commencement of its 2021
drill program ("the Program") at its 100%-owned Kirkham Property
(the "Property"). The Property is situated in the prolific
Eskay Camp of the Golden Triangle in
northwestern British Columbia, a
district known worldwide for the past producing Eskay Creek and
Snip gold mines, Seabridge's KSM porphyry deposits and Pretium's
producing Brucejack gold mine.
An initial 8,000m drill program
has begun – with a focus on the Cliff-Miles porphyry corridor that
forms a 4 km section of the Hawilson Monzonite ("HM"), a 7.5 km
long porphyritic intrusion on the property. The Program will target
two types of mineralization. The first holes (Click Here to View
Map) are intended to test for higher grade copper and gold
mineralization beneath previous drill hole intersections. The other
target in the Miles Zone is the large gold-bearing overprinted
siliceous zones and quartz-carbonate-sulphide veins that are
coincident with a prominent IP resistivity-high and a strong
gold-in-soil geochemical anomaly. Preliminary results from the
recently completed property wide ZTEM survey, along with drill core
re-logging and ground truthing work over the last two weeks, has
helped support the geological team with confirming optimal drill
collar locations.
Metallis' VP of Exploration Dave Dupre stated, "Metallis'
planning and early execution of time sensitive actions have led to
the on-time commencement of the diamond drilling program at the
Cliff/Miles Zone. During the past two weeks, the field crew has
constructed most of the drill pads and relogged over 6,500m of drill core from 12 holes that have a
bearing on this year's target selection." He went on to add, "A
very aggressive drilling campaign has been planned for this field
season. This program will seek to expand on last year's results
such as KH20-37 which returned 83m @
0.68 g/t AuEq.* and KH20-34 which returned 141m @ 0.64 g/t AuEq."
*Gold equivalent grades ("AuEq.") are for comparative purposes
only. Calculations are uncut and recovery is assumed to be 100% as
no metallurgical data are available. The metal prices including:
US$1700/oz Gold, US$20/oz Silver, US$3.0/lb. Copper & $9.0/lb. Mo. were used for (AuEq g/t).
Qualified Person
David Dupre, P. Geo, Vice
President - Exploration and the Qualified Person, as defined by
National Instrument 43-101, has reviewed, and approved the
technical information contained in this release.
About the Kirkham Property
The wholly owned 106 sq. km Kirkham Property is located about 65
km north of Stewart, B.C., in the
heart of the Golden Triangle's prolific Eskay Camp. The Property is prospective for
multiple mineral deposit types and is located along a strategic
geological boundary – the "Red-line" exposed on the western margin
of the Eskay Rift system in the Golden Triangle, northwestern
British Columbia.
The Kirkham Property is contiguous to Garibaldi Resources
Corp.'s E&L Nickel Mountain Project in the north and Eskay
Mining Corp. to the east. The property is within 12 km of the Eskay
Creek mine and within 12 – 20 km of Seabridge Gold's KSM deposits
and Pretium Resources' Brucejack mine.
About Metallis
Metallis Resources Inc. is a Vancouver-based company focused on the
exploration of gold, copper, nickel, and silver at its 100%-owned
Kirkham Property situated in northwest British Columbia's Golden Triangle.
Metallis trades under the symbols MTS on the TSX Venture Exchange,
MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt Stock
Exchange. The Company currently has 52,839,878 common shares issued
and outstanding.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President and Director
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estimated, or expected.
Although the Company has attempted to identify important risks,
uncertainties and factors which could cause actual results to
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SOURCE Metallis Resources Inc.