VANCOUVER, BC, Nov. 3, 2021 /CNW/ - Metallis Resources
Inc. (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the "Company"
or "Metallis") announces today that it has now completed the
Company's 2021 drill program (the "Program") at its 100%-owned
Kirkham Property (the "Property"). The Property is situated in the
prolific Eskay mining camp of the Golden Triangle in northwestern
British Columbia. The Eskay camp
is well-known for its past producing Eskay Creek and Snip gold
mines, Seabridge's KSM porphyry deposits and Pretium's Brucejack
gold mine currently in production.
Fiore Aliperti, Metallis'
President and CEO stated, "We are delighted to have completed
another successful drill season at the Kirkham Property. Our
geological team has done an excellent job identifying extensions of
the mineralized system evidenced by the fact we have continued to
intercept mineralization laterally and at depths not previously
encountered. We look forward to receiving and sharing the assay
results over the coming months."
The Program focused on the area known as the Cliff-Miles
porphyry corridor, which extends over a strike-length of 4 km and
forms part of the larger 7 km long Hawilson Monzonite Complex.
Metallis completed 7 long drill holes averaging 684 meters per hole
for a total of 4785 metres drilled (Click Here to View Map of Drill
Collar Locations).
Drilling Highlights
The 2021 drill program highlighted broad intercepts of highly
silicified and well-mineralized porphyry intrusions and host rocks
expanding the Cliff-Miles porphyry corridor both vertically and
laterally. KH21-39 and KH21-40 in the southern Cliff block drilled
through pervasive sericitic alteration and zones of intense
silicification. In the central Cliff block, KH21-41 and KH21-42
drilled through some of the best stockwork mineralization
associated with intense silicification and remnant potassic
alteration. Further to the north, KH21-45 went through broad
intercepts of highly silicified porphyry and siltstone units cut by
late-stage epithermal quartz + carbonate ± sulphide veins. (Click
Here to View Drill Core Photos). The 2021 drilling program
expanded and infilled the known mineralized zones and improved the
company's overall understanding of the geology and distribution of
the copper-gold grades in the system.
Table 1: Summary of the 2021 Drilling Program at Kirkham
Property
Hole_ID
|
NAD83Z9E
|
NAD83Z9N
|
Elev
(m)
|
Azi
|
Dip
|
Depth
(m)
|
Comments
|
KH21-39
|
399255
|
6257863
|
918
|
280
|
-55
|
600
|
Pervasive sericitic
alteration and silicification
|
KH21-40
|
399255
|
6257741
|
870
|
285
|
-70
|
771.1
|
Sericitic alteration,
silicification and vein stockwork
|
KH21-41
|
399425
|
6258485
|
1063
|
280
|
-55
|
690.5
|
Intense
silicification, remnant potassic and vein
stockwork mineralization
|
KH21-42
|
399425
|
6258485
|
1063
|
280
|
-65
|
684
|
Intense
silicification, remnant potassic and vein
stockwork mineralization
|
KH21-43
|
399398
|
6258641
|
1102
|
280
|
-60
|
660
|
Sericitic alteration
and zones of intense silicification
veins and sulphides
|
KH21-44
|
399374
|
6258781
|
1151
|
280
|
-65
|
577
|
Sericitic alteration
and zones of intense silicification
veins and sulphides
|
KH21-45
|
399178
|
6259065
|
1255
|
100
|
-70
|
802.4
|
Broad intercepts of
intense silicification, vein
stockwork mineralization
|
Total Meters
Drilled
|
4785
|
|
All core samples have been submitted to ALS Labs, an independent
laboratory, and assay results are expected through November,
December and into 2022. Lab delays are anticipated and are
principally the result of an unprecedented number of samples being
processed under the protocols of the ongoing COVID-19 pandemic. Lab
results will be reported in future disclosures as they are
received, interpreted, and verified that QA/QC has been met. Core
samples taken for assay are split with a diamond saw with one half
being sent to ALS. Known standards and blanks are inserted into the
stream of samples on a regular basis. Additionally, all core is
photographed with a high-resolution camera for future viewing.
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
region. 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
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute
'forward-looking' statements, including statements regarding the
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may differ materially from those in the forward-looking statements
because of various factors. Such risks, uncertainties and factors
are described in the periodic filings with the Canadian securities'
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Discussion and Analysis, which may be viewed on SEDAR at
www.sedar.com. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, believed,
estimated, or expected.
Although the Company has attempted to identify important risks,
uncertainties and factors which could cause actual results to
differ materially, there may be others that cause results not to be
as intended, planned, anticipated, believed, estimated, or
expected. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements.
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SOURCE Metallis Resources Inc.