Metallis Announces High-Grade Antimony Assays from Greyhound
METALLIS ANNOUNCES HIGH-GRADE
ANTIMONY ASSAYS FROM GREYHOUND
VANCOUVER, BC
,
Dec. 12, 2024
/CNW/ -
Metallis Resources Inc.
(TSXV: MTS) (OTCQB:
MTLFF) (the "Company" or "Metallis") is pleased to announce the over-limit antimony assays from
the Company's second field exploration program (the "Program") at the Greyhound Property (the
"Property"). The Property is a high-grade silver/gold/antimony project within the historic Stibnite
(antimony mineral) Mining Camp, located in central
Idaho, USA
. This Mining Camp is currently the
most important antimony region in
the United States
and is rapidly evolving into an integrated
domestic antimony supply center. This has been exemplified recently with an agreement between
Perpetua Resources and
Sunshine Silver
to explore the feasibility of utilizing
Sunshine Silver's
permitted antimony plant in
Idaho
to process concentrates from Perpetua's nearby Stibnite Gold
Deposit (
See news release here
).
At the Property, a total of 44 rock samples and 129 soil samples were collected during the Program
with multiple high-grade antimony results being returned. These assays compliment the previously
released silver, gold, lead, and zinc assays (
See news release dated
December 5, 2024
). The
Program also involved the assaying of underground material (historically collected by the property
owner from the 1350' zone) that included 2 buckets of Greyhound concentrates and 3 well-
mineralized grab specimens
1
, both of which returned very high-grade silver/gold/antimony results
that highlight the richness of this past-producing mine.
Dave Dupre
, Metallis' VP of Exploration, commented, "The Greyhound Property continues to
represent a significant untested resource for high-grade antimony, gold, silver, and associated
metals. Results from this year's inaugural field programs have produced high-grade assays from the
Bulldog target and the 1350' zone, confirming the extent and quality of mineralization and highlighting
its potential as a rich source of antimony. Combining these results with the promising historic
concentrate results and other exploration opportunities at zones like Akita and Ridge Cut, this initial
work supports advancing these targets to drill testing and unlocking this property's full potential."
He went on to add, "2024 has seen a rapid rise in antimony prices underscoring its critical global
importance. Antimony trioxide prices in
Rotterdam
surged 228% since
January 2024
, reaching
US$39,000
per metric ton by late November. With tight supplies, driven by
China's
declining
reserves, and increasing demand for uses in batteries, semiconductors and armaments, the
pressure to develop domestic supply is mounting. For the US, this is a pivotal moment. By
supporting and advancing domestic projects and securing supply chains, we can reduce reliance on
foreign production and support industries essential to energy transition and national security. This is
why exploration companies like Metallis, and our exploration efforts, are so crucial right now."
Key Highlights:
The Bulldog target has demonstrated the richest antimony mineralization at surface with assays
as high as 4.96% Sb from grab samples;
A total of 44 surface rock samples were collected, with an average antimony grade of 0.62%
Sb expanding the extent of mineralization;
Two samples of historic concentrates
1
(received from the Greyhound Property owner) delivered
promising results of 1.41% antimony from the mill's basic flotation circuit with no attempt to
upgrade the antimony; and
An additional 3 grab samples
1
of mineralization from underground at the 1350' zone have
confirmed very high-grade assays including 3.27% Sb, 8770 g/t Ag, 1.87 g/t Au, 18.7% Pb and
20.8% Zn.
Antimony Over-limit Results
Over-limit antimony results were returned at the Bulldog, the Upper Birdie, the Ridge Cut, Akita, and
at the newly termed Husky zone. Of the total 44 surface rock samples taken on the property, the
average antimony grade was 0.62% with 9 of the samples returning greater than 1.0% Sb (see map
1 below). Antimony corelates best with silver/lead/zinc mineralization and the team has determined
that the silver targets also provide strong antimony targets.
Map 1 of antimony results in rock samples from phase 2 exploration program (CNW Group/Metallis
Resources Inc.)
Significant antimony results were returned from the Bulldog Target where 5 of the 13 samples
assayed over 1.0 % antimony. A 10 to 20 cm wide, high-grade quartz sulfide vein outcropping at
surface over
13 m
produced the best antimony grades with an average of 2.68% Sb from the 4
samples taken (See table 1 below). The vein lies adjacent to the historic Bulldog surface cut yet was
missed during excavations completed by the previous operator. During the phase-one exploration
program, a chip sample was taken across this vein and returned 353 g/t Ag and 0.61% Sb over
3 m
(See photo 1 below). When combining the adjacent mineralization, this vein provides a very strong
untested drill target to test for high-grade antimony along with silver, gold, lead and zinc.
ROCK GRAB SAMPLES FROM HIGH-GRADE VEIN AT BULLDOG
Sample #
Au g/t
Ag g/t
Sb %
Pb %
Zn %
Silver Eq
2
g/t
Gold Eq
2
g/t
K225334
1.09
3,360
4.96
5.39
0.97
4,927
55.2
K225335
0.51
1,105
1.98
2.15
3.25
1,821
20.4
K225336
0.14
1,150
1.05
0.98
0.49
1,478
16.6
K225337
0.65
880
2.71
3.23
0.04
1,733
19.4
Table 1 of rock samples from high-grade vein at Bulldog
Photo 1 Bulldog sampling demonstrating the high-grade vein and adjacent chip sampling (CNW
Group/Metallis Resources Inc.)
At the Akita zone, further rock and soil sampling has identified high-grade antimony stretching
northeast of the previously known mineralization. These results have highlighted a very large area,
that covers 400 m of strike length along with
200 m
of width where highly anomalous antimony
samples have been taken in rock and soil. At the south edge of this zone, two grab samples taken
from Ridge Cut spoils pile returned 2.59% and 1.37% Sb. When combined with high-grade samples
taken during the previous program, the Ridge Cut demonstrates a very rich antimony zone along the
Greyhound Shear. Further exploration is necessary at this underexplored zone as there is minimal
historic work completed in this area.
Other areas of antimony mineralization were identified across the property and demonstrated the
extent of antimony along the entire length of the 3.5 km shear (See map 2 below). North of the
Rufus Adit, in a broad area now termed the Husky zone, a rock sample was taken near a historic
excavated hand trench and returned 1.01% Sb. At the Upper Birdie target, a well mineralized
boulder revealed 1.89% Sb along with 4,950 g/t Ag.
Map 2 long section of Greyhound Shear demonstrating consistent antimony grades across the
Property (CNW Group/Metallis Resources Inc.)
1350' Zone Underground Sampling
Three random grab samples
1
from the 1350' zone underground mineralization were provided by the
property owner and were sampled by Metallis. Assays returned very high-grade results across all
metals of interest including a spectacular 3.27% Sb, 8770 g/t Ag, 1.87 g/t Au, 18.7% Pb and 20.8%
Zn (See photo 2 below). These samples demonstrate the high-grade nature of the vein at the 1350'
zone. Historically, this underground zone averaged
36.9 m
(along the exposed vein in the adit) of 785
g/t silver from 20 chip samples taken perpendicular to strike at systematic intervals. These results
further validate this area as a strong drill target as its scale has never been tested.
Photo 2 of mineralized sample from the 1350’ underground zone containing pyrite, sphalerite, galena,
stibnite and tetrahedrite. (CNW Group/Metallis Resources Inc.)
Two historic concentrate samples
1
from the 1350' underground zone were also assayed by Metallis
during
November 2024
. These samples were collected from buckets retained by the property owner.
Antimony grades of 1.38% Sb and 1.44% Sb prove the ability for this important metal to be
recoverable even utilizing very basic mill floatation methods completed historically with no attempt to
upgrade the antimony mineralization. The 2024 results are very similar to the concentrate head
grades previously analyzed by the Asarco Smelter in 1988 and provide a cross check of historic
data and validate the high-grade nature of the Greyhound mineralization (See table 2 below).
Metallurgical discussion will be expanded upon in an upcoming new release.
2024 CONCENTRATE ASSAYS
Sample ID
Au g/t
Ag g/t
Sb %
Pb %
Zn %
As %
K225346
5.08
4,260
1.38
7.96
13.85
8.73
K225347
5.01
4,320
1.44
7.95
14.15
8.78
Table 2 of assay results from concentrate samples from the 1350' zone underground mined and
milled during 1987
Antimony Update
As of
December 3
rd
,
China
has moved from export restrictions to a complete ban on antimony
exports to the
USA
. This escalation has resulted in a trade standoff and has left the
USA
in an
increased need of local supplies of antimony, a metal commonly used for fireproofing compounds,
munitions and other military hardware, and in the green-energy transition. Amidst growing supply
shortages, antimony prices have skyrocketed, up 228% since
January 2024
. The US government
has integrated different departments in its quest to establish domestic antimony supplies.
In
the United States
, the state of
Idaho
hosts the country's most advanced antimony project, the
Perpetua Resources' stibnite mine, in a region known for high relative antimony values. Within that
region we also find Metallis' Greyhound Property, just 38 km from Perpetua's property. Significant
US government funding has been provided to Perpetua, including grants from the Pentagon, Defense
Production Act Title III funding for engineering and permitting, and Export-Import Bank of
the United
States
loan funding commitments of
$1.8 billion
(via the Pentagon).
Perpetua Resources is now exploring the feasibility of utilizing
Sunshine Silver's
permitted antimony
plant to process their concentrates in northern
Idaho
and expedite a local supply of antimony on
American soil. Metallis looks to leverage the high-grade antimony found at Greyhound, with its ideal
location proximal to major antimony players.
About the Greyhound Property
The Company optioned Greyhound Property located in
Custer County, Idaho
, approximately 42 km
northwest of the town of
Stanley
, in
February 2024
. This 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 a 3.6 km mineralized shear zone. Since 1910, the property has seen limited exploration and
only minor development when the Greyhound Mine was reactivated and mined sporadically from
1980-1991. The last remaining ore from this period was shipped to a smelter in 2000 and the
property remains substantially underexplored.
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.
QAQC
All the rock samples were kept under the control of Metallis staff until they were delivered directly to
the ALS laboratories Ltd. sample preparation facility in
Twin Falls, Idaho
(an independent certified
laboratory facility). Analyses were then completed by ALS in
Vancouver
. Blanks and standards have
been added to the samples stream by ALS along with internal QAQC protocol. All the samples were
initially analyzed by the Ultra Trace technique. Results that returned values greater than a pre-
determined threshold were then analyzed by element – specific methods as noted below:
ME-MS 41: Ultra Trace Aqua Regia ICP-MS.
ME-GRA21: Au, Ag 30g Fire Assay – Gravity Finish
Pb-OC46: Ore Grade Pb – Aqua Regia
Zn-OC46: Ore Grade Zn – Aqua Regia
Sb-ICP08: Sb – KCl/HCl digestion ICP-MS
As-OC46: Ore Grade As – Aqua Regia
Soil samples were collected predominantly of B horizon at predetermined locations across the
property. Once at the lab, samples were dried and crushed to 80 mesh (prep 41). Analysis was
completed by aqua regia digestion for acid extractable Au with a 25g aliquot (AuME–TL43).
Reference Material
A grab sample is taken from a rock outcrop that is being assessed for the presence of valuable
elements. While taking the grab sample, the best-looking rock is chosen. Grab samples are by
definition selective. Grab samples are solely designed to show the presence or absence of
mineralization and are not intended to provide nor should be construed as a representative
indication of grade or mineralization at the Project.
Chip-channel sampling involves taking contiguous rock chip samples along a line to define the
width and grade of a zone. Commonly, these are taken perpendicular to the strike of the
mineralized zones
1- These samples were taken from underground at the 1350 zone in 1988 and were provided by
the property owner for reference purposes. The assays are in line with historic results, and
although the exact sample locations can not be identified, there is no reason to believe the
information is incorrect.
2-
Gold and Silver equivalent values are derived from the following prices in USD; Au
$2,500
per
ounce, Ag
$28
per once, Pb
$0.90
per pound, Zn
$1.20
per pound, Sb
$12.00
per pound.
About Metallis
Metallis Resources Inc. is a
Vancouver
-based company focused on the exploration for gold, copper
and silver on its flagship 100%-owned Kirkham Property in
Canada
, situated in northwest
British
Columbia's
Golden Triangle, and on the Greyhound Property, a gold/silver/antimony target 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 75,305,003 common shares
outstanding.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director
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. Should one or more of these risks or uncertainties materialize, or
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SOURCE
Metallis Resources Inc.
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CO: Metallis Resources Inc.
CNW 08:00e 12-DEC-24