Airborne Geophysical Survey Identifies 4 Additional Anomalies on the Kirkham Property
Airborne Geophysical Survey Identifies 4 Additional Anomalies on the Kirkham Property
January 24, 2017
Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS) (the “Company”) is pleased to
announce the results of a second airborne survey conducted in August and September of 2016
on the Company’s Kirkham Property (the “Property”) located within northern British Columbia’s
Golden Triangle.
In 2016, the Company engaged Geotech Ltd to conduct a VTEM/magnetic/radiometric survey
over a 6000 hectare portion of the property, which was not surveyed in 2013. The VTEM
component of the survey is useful for delineating conductors (veins, massive sulphide lenses)
down to ~400m below surface. Magnetics are useful for delineating structures and intrusions
which are associated with porphyry copper-gold deposits of the Golden Triangle. Radiometrics
may show potassic alteration which is associated with some mineralized occurrences.
The 2016 survey identified four anomalies, which continue several hundred meters below the
surface:
Fewright Creek: features an arcuate resistivity and magnetic anomaly surrounding a magnetic
low. A small felsic plug has been mapped within this target. A large gossan occurs on the
western side of the target. These features are interpreted to represent a classic alkaline
porphyry copper-gold system that has experienced magnetite destruction in the center and
propyllitic alteration around the rim. The geophysical results indicate that this anomaly increases
in size with depth.
King East: comprises large coincident magnetic and resistivity anomalies. Numerous gold-
bearing veins and several small felsic stocks have been mapped on the southern part of this
target.
North and South Terwilligen: Are also characteri zed by coincident magnetic and resistivity
anomalies. The propyllitic alteration minerals suggest that this target is high in the porphyry
system. The geophysical modelling indicates the intrusion is quite near the surface.
The 2016 survey confirmed a fifth anomaly, a li near, very strong coincident resistivity and
magnetic anomaly (King), originally identified by the 2013 survey, which is outboard from the
mineralized Hawlison Porphyry (see map on t he next page). This feature is similar to the
geological setting and geophysical response associated with the Snip Mine, located 40
kilometers to the northwest. The presence of a pyroclastic dome, limestone units and
mineralized chert layers also could be indicative of an Eskay Creek – type VMS deposit.
All four of the coincident magnetic and resistivity anomalies fit Metallis’ model of the geophysical
response from porphyry copper/gold deposits in the Golden Triangle. King East and Fewright
Creek also have strong potassium anomalies. These anomalies are at least 2 kilometers in
diameter, are near the surface and display proxim al features such as small diorite stocks,
propyllitic alteration and local mineralized veins.
KING
Airborne Survey – Resistivity Results
Hawlison Monzonite
FEWRIGHT CREEK
TERWILLIGEN
SOUTH
KING EAST
RESISTIVITY
ANOMALIES
Hawlison
Monzonite
17
TERWILLIGEN
NORTH
KING
All five anomalies are concentrated near the Stuhini-Hazelton contact (also known as the Red-
Line). Kyba and Nelson (2012) have shown that many of the mineralized systems in the Golden
Triangle are clustered near this contact. The large porphyry-style anomalies also display
coincident potassium spectral highs. This is likely due to the presence of potassic alteration –
again a classic feature of alkaline porphyry systems in the Golden Triangle. Taken together, the
geophysical, geochemical, geological setting and altera tion are strikingly similar to producing
mines in the Golden Triangle.
Mr. Fiore Aliperti, President of Metallis states: “We are extremely pleased with results of this
year’s airborne survey. We have now merged da ta and results from the 2013 airborne survey
with the 2016 airborne survey to give us a better understanding of the property’s potential. We
will be using these survey results, along with a desktop compilation of historical data collected
on the property, to identify targets for a summer 2017 drilling program.”
About Metallis
Metallis Resources Inc is a Vancouver based company focused on the on the exploration of
gold, silver and copper on the Kirkham Property sit uated in the heart of the prolific Golden
Triangle in Northern British Columbia. Metallis Resources Inc. currently trades under the
symbol MTS on the TSX Venture Exchange.
About the Kirkham Property
The 10,600 hectare Kirkham Property is located about 65 km north of Stewart, 20 km southwest
of Barrick’s Gold Corp’s past-producing Eskay Creek Mine and 40 km southeast from their past
producing Snip Mine; 40 km from Pretium Resources’ Brucejack deposit and 30 km from
Seabridge’s KSM deposits.
About Geotech
Geotech is a global leader in technological innovation for airborne geophysical survey mapping,
interpretation and analysis. The company has conducted airborne electromagnetic geophysical
surveys, over six continents, for more than three decades using proprietary technology and has
a long history of notable innovations. In the last decade, Geotech introduced to the world the
first helicopter-borne time domain EM system. The VTEM system, with its superior S/N ratio, is
still the industry standard, able to detect deep conductors that are "lost" in the noise of other
TEM systems.
Technical aspects of this news release have been reviewed and approved by David Dupre
P.Geo. designated as a qualified person under National Instrument 43-101.
On behalf of the Board of Directors:
/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director
For further information:
Tel: 604-688-5077
Email: [email protected]
Web: www.metallisresources.com
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