VANCOUVER, BC, April 20,
2022 /CNW/ - Metallis Resources
Inc. (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the "Company"
or "Metallis") reports further results from its 2021 property-wide
Z-Axis Tipper Electromagnetic Survey ("ZTEM" or "the Survey") at
its 100%-owned Kirkham Property (the "Property"). The Property is
situated in the prolific Eskay Camp
of the Golden Triangle, northwestern British Columbia, a district known worldwide
for the past producing Eskay Creek and Snip gold mines, Seabridge's
KSM porphyry deposits, and Newcrest Mining's producing Brucejack
gold mine.
Nickolas Dudek, Metallis' Chief
Geologist, stated "The 2021 ZTEM survey has provided us with some
exciting results. Primarily, it highlighted a very distinctive
resistivity signature related to the structural controls of the
mineralized Hawilson Monzonite. This signature of
low-resistivity "breaks" in the overlying high-resistivity similar
to what we see at Cliff-Miles, can be tracked several
kilometers linearly to the North. These "breaks" will be followed
up with in-field evaluation this year." He went on to add "What is
encouraging about this update is that we have seen several world
class porphyry deposits such as Red-Chris or Cadia occur along
similar linear trends."
Survey Highlights
- The structural break, empirically related to the emplacement of
the Porphyry and Epithermal mineralization, can be traced for 11
km;
- The structural break occurs in sub-parallel doublets or
triplets and has defined 5 new ZTEM targets in the style of the
Hawilson Monzonite signature along the 11 km linear trend (Click
Here to View Linear Trend Size Comparable Graphic); and
- These signature breaks, along with several other previously
identified targets are slated for in-field follow-up this
season.
The ZTEM results at Cliff-Miles define a
distinctive 4-km long resistivity break which is empirically
related to the mineralized Hawilson Monzonite
(Click Here to View Cross Section). This break
interrupts the higher resistivity Hazelton Group in the more elevated
Western parts of the property (example Mt.
Dunn), and the lower
resistivity signature related to the exposed and underlying
Stuhini Group in the East (example King, Hawilson
Lake, or immediately West of the Harrymel
Fault). The Adam Fault, its low-resistivity Stuhini
footwall, and the theoretically eroded anticlinal axes, are
the causes of the resistivity break.
The signature of this resistivity break, particularly in
cross-section, has been used as a template for further regional
exploration on the Property. This distinctive break has been
intermittently traced seven kilometers to the North of the
Cliff-Miles Porphyry Complex - now giving a total strike length of
11 km (Click Here to View Figure 1).
Furthermore, the structural breaks occur in sub-parallel
doublets or triplets and are presently interpreted as gently folded
stair-stepping faults and grabens / half-grabens related to the
Eskay Rift. These newly identified breaks in the high-resistivity
Hazelton, (additional Cole
targets, Louis targets, and Vera), as well as several previously
identified targets with a ZTEM response, warrant in-field
evaluation in 2022 (prospecting, mapping, soil-sampling) with an
objective of finding Porphyry and Epithermal mineralization.
Future ZTEM news will address the Thunder North target which is
immediately adjacent to Garibaldi's Nickel Mountain discovery.
About the Survey
The Survey, conducted by Geotech Ltd., comprised a total of 879
line-kms of ZTEM and magnetometer data collection and covered most
of the 106 sq. km Property (Click Here to View Survey Coverage in
Figure 2). Additionally, this survey extended, by agreement, a
short distance onto adjacent lands held by Garibaldi Resources
Corp. to the north and Eskay Mining Corp. to the east.
ZTEM is an airborne electromagnetic survey system that measures
variations in the naturally occurring electromagnetic properties of
rocks produced by thunderstorms around the world. This magnetic
field is planar – constant in all directions – but areas of
highly conductive or very resistive rock will cause measurable
disruptions.
Highly resistive or highly conductive rock types can include ore
deposits, faults, and alteration zones. ZTEM surveys are designed
to map resistivity/conductivity contrasts to great depths,
exceeding 1-2 km, making ZTEM well-suited to finding
porphyry-hosted and structurally controlled exploration targets at
depth.
Not all structures are highlighted in the ZTEM survey, but the
contrasting high-resistivity Hazelton and low-resistivity Stuhini makes
structures between them more readily apparent.
The survey data was analyzed and interpreted by Company
Geophysicist Jules Lajoie who generated a 3D resistivity voxel that
the geological team used to correlate the resistivity features with
the geological setting.
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 (Sulphurets) 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 region of 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 while the eastern border is 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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SOURCE Metallis Resources Inc.