Metallis Provides Corporate Update and Outlines 2026 Exploration Program at Greyhound Property
METALLIS PROVIDES CORPORATE UPDATE
AND OUTLINES 2026 EXPLORATION
PROGRAM AT GREYHOUND PROPERTY
VANCOUVER, BC
,
Feb. 19, 2026
/CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF)
("Metallis" or the "Company") is pleased to provide a corporate update, an outline of the Company's
plans for an expanded 2026 field season, and a review of additional results from the 2025 drilling
and surface sampling programs at the Greyhound Property ("Greyhound" or the "Property"), located
in central
Idaho, USA
. Surface rock sampling, drill cutting sampling and drill results from the Birdie
target have all provided valuable information that continues to advance the project toward its next
phase.
Greyhound represents a highly prospective, silver-gold opportunity with the benefit of existing
infrastructure and a historic mine site, while offering significant upside through exploration and
potential staged development scenarios. The target is clusters of high-grade silver, gold, antimony
and base metals in narrow but extensive veins similar to those found in well-known historical mines
located in the state of
Idaho
.
The 3.5-kilometre-long Greyhound shear has already returned high-grade mineralization at multiple
locations, yet remains largely untested, with drilling completed at only three areas to date.
Importantly, the project lies within patented mining claims, which offer full mineral ownership, secure
tenure, and enhanced flexibility for future development. With an expanded drill program planned for
2026, including step-out and deeper drilling at the 1350 Zone, testing of additional high-priority
targets, and refined geophysical targeting, the Company is positioning Greyhound for meaningful
advancement in the coming field season.
Overview:
Rock sampling at the Republican Showing returned 2,882 g/t AgEq*, including 5.9 g/t Au, 1,555
g/t Ag, 7.0% Zn, 18.5% Pb, and 1.9% Sb, from a 10-centimetre galena-rich interval.
Drilling at the Upper Birdie target evaluated a secondary shear structure and improved the
Company's understanding of post-mineral intrusions and structural controls across the Property.
Planning for the 2026 exploration program is underway with the objectives of expanding drilling
activity and evaluating development pathways shortening the timeline from exploration to
development.
Fiore Aliperti
, Metallis' President and CEO commented, "With Greyhound's first-ever drill program
complete, our focus has shifted to execution and scale as we prepare for the upcoming exploration
season. This includes continued geological interpretation, target refinement, and advancing
contractor and logistical planning to enable early mobilization."
He added, "In a strong silver market, we believe Greyhound warrants a disciplined but accelerated
approach. The system offers multiple development options, and we are currently evaluating
pathways that could responsibly shorten the timeline from discovery toward potential extraction."
Birdie Target
Four drill holes completed at the Birdie Target, from the Upper and Lower Birdie pads, were
designed to evaluate a secondary, parallel shear structure located 130 meters ("m") northeast and
spatially separate from the main Greyhound shear system, which remains the Company's primary
exploration focus. Drilling at the Birdie target focused on improving the Company's understanding of
structural complexity and evaluating the depth continuity of surface mineralization, where grab
samples returned grades of up to 4,950 g/t Ag and 18.15 g/t Au.
Drilling intersected granitic to granodioritic intrusive rocks, biotite schists, and minor shear zones
expressed as sub-metre fracture zones with minor sulphide mineralization. Geological logging
identified multiple post-mineral dikes that appear to have disrupted mineralization where drill holes
intersected the presumed shear zone. These dikes are variably constrained but are interpreted to
have intruded along structurally weak shear fabrics as well as to locally crosscut the shear zone,
suggesting mineralization may persist beneath the dike swarm at depth.
While significant mineralization was not intersected in this secondary structure during the program,
the results do not impact the geological potential of the primary Greyhound shear, which remains
largely untested along strike and at depth. The Birdie drilling contributes to a broader understanding
of the Property's structural framework and helps refine exploration targeting at future drill sites.
Greyhound Property Map with Prospective Targets and 2025 drilling (CNW Group/Metallis
Resources Inc.)
Rock Sampling
Rock sampling during the 2025 drill program was completed at multiple locations on the Property
including the Republican Showing, the northernmost mineralized exposure of the Greyhound shear. A
grab sample collected from within the historic Republican pit, an area not previously sampled by the
Company, returned 2,882 g/t AgEq*, including 5.9 g/t Au, 1,555 g/t Ag, 7.0% Zn, 18.5% Pb, and
1.9% Sb, from a 10-centimetre galena-rich interval within a 50-centimetre quartz-sulphide vein.
These results are comparable in style and grade to mineralization at the 1350 Zone and support
continuity of the system over its entire 3.5-kilometre strike length.
A float grab sample taken north of the 1350 Zone, in an area characterized by limited outcrop and
minimal historical work, returned 2.85 g/t Au. This result is considered encouraging given the limited
exposure due to overburden in the area.
Cautionary Note: Grab samples are selective by nature and may not be representative of
underlying mineralization.
Bulldog Target Sludge Sampling Review
Drilling at the Bulldog Target was designed to assess the down-dip projection of a broad mineralized
shear-vein system that previously returned grades of up to 3,360 g/t Ag and 4.9% Sb in rock grab
samples. During drilling, a shear zone was encountered closer to surface than anticipated and was
heavily oxidized, fractured, and associated with poor core recovery.
Hole GH25-03 returned approximately 75% core recovery from surface to
5.5 m
, while GH25-04
returned approximately 63% recovery from surface to
7.1 m
. To assess potential grade bias
resulting from core loss, a sludge sampling program was initiated for both holes.
Sludge assays returned silver values ranging from 5 to 118 times higher than corresponding core
values, with additional enrichment in lead, antimony, and zinc. These results are encouraging.
However, due to the limited number of samples taken and the variability of gravity sorting effects,
these sludge results are considered qualitative only.
Exploration Strategy and Next Steps
As a result of a renewed focus on critical minerals (particularly silver and antimony) and supply chain
independence in
the United States
, an expanded 2026 exploration program is currently being
designed due to the advanced nature and geological endowment of the Greyhound shear. The 2026
program will focus on scale, continuity, and near-term value creation.
The 2026 program will prioritize step-out and down-dip drilling at the 1350 zone where 3 drill holes
have successfully intersected mineralized structures. This will occur from existing and new drill pads
to expand on this high priority target area. Additional near-term work will evaluate the historically
mined 500 Zone, which remains largely untested below approximately
100 m
depth, as well as the
Akita and Republican zones, and the potential re-drilling of the Bulldog area with an east-to-west
orientation. To support drill targeting, the Company is assessing additional geophysical methods,
including VLF and drone-based surveys, to refine subsurface targets and evaluate depth continuity
beneath overburden.
In parallel, the Company is evaluating potential near-term development concepts that could leverage
the vein-hosted geometry of the system, existing infrastructure, and patented land position.
About the Greyhound Property
In
February 2024
, the Company optioned the Property, located in Custer County,
Idaho
,
approximately 42 km northwest of the town of Stanley and 35 km south of Perpetua Resources'
Stibnite Mine. The Property was the center of an active silver mining camp in the early 1900's and at
one point contained a smelter and two active mines situated along the 3.5 km Greyhound shear. In
2024, the Company staked additional land around Greyhound for a total current property size of 673
hectares.
The Greyhound mineralization is hosted by prominent shear zones with polymetallic quartz-sulphide
veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead, and zinc.
Greyhound shares certain geological characteristics with the Lucky Friday Mine in northern
Idaho
.
Both properties exhibit vein mineralization occurring as fracture-fillings, disseminations, and tabular
masses of galena and tetrahedrite along with accessory pyrite in a gangue of siderite, calcite, and
quartz. The Lucky Friday zone is a singular, curved tabular body that dips almost vertically. The vein
at Lucky Friday has a strike length of up to
450 m
and a width that varies from centimeters to as
much as
6 m
. The average varies from 1.2 to
1.8 m
over the full length (SLR, 2022).
Metallis states that while the Lucky Friday Mine may share some geological similarities with the
Greyhound Property, no representation is made that comparable results will be achieved at
Greyhound.
References
SLR, 2022 Technical Report Summary on the Lucky Friday Mine, Idaho, USA S-K 1300 Report
Hecla Mining.
*Gold (AuEq) and Silver (AgEq) equivalent values are calculated using
$3,500 USD
/Oz for Au,
$42
USD
/Oz for Ag,
$12 USD
/lb for Sb,
$1.35 USD
/lb for Zn, and
$1.0 USD
/lb for Pb.
AgEq = Ag ppm + (Au ppm*83.33) + (Pb ppm*0.0016) + (Zn ppm*0.0022) + (Sb ppm*0.0196).
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 Metallis
Metallis Resources Inc. is a
Vancouver
-based company focused on the exploration for gold, copper
and silver at its 100%-owned Kirkham Property in
Canada
, situated in northwest
British Columbia's
Golden Triangle, and at the Greyhound Property, a gold/silver/antimony property in
Idaho, USA
.
Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB
Exchange, and 0CVM on the Frankfurt Stock Exchange, and has 85,730,003 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 plans, intentions, beliefs and current expectations of the Company, its
directors, or its officers with respect to the future business activities and operating performance of
the Company. The words
"may," "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to the Company, or its management, are intended to identify such
forward-looking statements. Investors are cautioned that any such forward-looking statements are
not guarantees of future business activities or performance and involve risks and uncertainties, and
that the Company's future business activities may differ materially from those in the forward-looking
statements because of numerous factors. Such risks, uncertainties and factors are described in the
periodic filings with the Canadian securities' regulatory authorities, including quarterly and annual
Management's Discussion and Analysis, which may be viewed on SEDAR at
www.sedarplus.ca
.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. The TSX-V Stock Exchange has neither approved nor disapproved of the contents of this
news release.
SOURCE
Metallis Resources Inc.
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For further information:
For further information contact Mr. Aliperti at: Tel: 604-688-5077, Email:
[email protected]; Web: www.metallisresources.com
CO: Metallis Resources Inc.
CNW 08:00e 19-FEB-26