Metallis Announces Drills Turning at Kirkham Property in the Golden Triangle
Metallis Announces Drills Turning at Kirkham
Property in the Golden Triangle
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
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-
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and uncertainties, and that the Company's future business activities 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' regulatory authorities, including
quarterly and annual Management's 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.
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 the contents of this
news release.
SOURCE
Metallis Resources Inc.
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For further information:
Tel: 604-688-5077, Email: [email protected], Web:
www.metallisresources.com
CO: Metallis Resources Inc.
CNW 09:00e 28-JUL-21