Metallis Commences Phase 1 Drilling Program
Metallis Commences Phase 1 Drilling Program
VANCOUVER
,
July 24, 2018
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS; OTCQB: MTLFF)
("Metallis" or the "Company") announces the commencement of the Company's Phase 1 drilling
program (the "Program"), currently underway at its 100% owned Kirkham Property (the "Property"),
prospective for multiple deposit types in the prolific Eskay camp of northwest
British Columbia
.
This initial phase of drilling will test several high priority targets within the Hawilson Monzonite
located in the southern portion of the Property.
The findings of the
June 2018
geological mapping program, along with the results of the 2018
detailed airborne geophysical survey, have provided an enhanced understanding of the geometry,
controls of mineralization, and apparent scale of the intrusive-related mineralizing system. This
information, together with historical data, has facilitated the selection and prioritization of three
specific drill targets: the Cliff, Nina and Cole targets.
Cliff Target
The Cliff Porphyry system extends for 3km and is represented by multi-phase intrusions and
breccias associated with the recently mapped 7km long Hawilson Monzonite porphyry complex. This
porphyry system was successfully tested by Metallis in 2017 with three drill holes that transected
broad intersections of copper-gold mineralization, the longest being 146 meters of 0.34 g/t Au and
0.22% Cu, including a significant interval of 68 meters at 0.52 g/t Au and 0.3% Cu. The intensity of
potassic alteration, veins and copper-gold grades increases with depth. The 2018 program is
designed to drill deeper than previous holes, targeting the magnetic anomalies and zones of intense
potassic alteration, veining and silicification in the core of the system.
Nina Target
Mapping and sampling at the Nina prospect has shown promising alteration and mineralization that
continues northward from the Cliff zone. The main target is to test the continuity of the Hawilson
Monzonite responsible for the Cliff-Nina porphyry corridor gold-rich epithermal mineralization. Most
of the rock grab samples in this area returned values greater than 1500 ppm Cu and up to 0.67 g/t
gold.
Cole Target
The Cole target is identified as a
450m
x
350m
wide porphyry copper-gold system that has never
being drilled. The geological features (i.e. geometry, potassic alteration, veins and sulphides) at Cole
are similar to Seabridge Gold's Kerr deposit, located approximately 15km to the east of the Kirkham
property. Metallis' team of geologists designed two holes to test the outcropping mineralized
porphyry and epithermal sheeted quartz veins with elevated copper-gold geochemistry. The standout
rock geochemical sampling results range from 0.2% to 0.5% Cu and up to 20.7 g/t Au.
Fiore Aliperti
, Metallis Resources President and CEO, remarked: "We are delighted to announce
that the drills are turning and that we've got our 2018 drilling campaign underway. We had
encouraging results from the Cliff target last year and are working to build upon, what we believe to
be, is becoming a tremendous asset." Further adding, "Our technical team, with input from
Jeff
Kyba
, are excited from the outcome of this year's exploration program and are well prepared to
explore and drill the copper and gold potential in the Cole and Nina targets. This year's program is a
big step in carrying this project and company forward."
Qualified Person
Technical aspects of this news release have been reviewed and approved by Metallis Resources'
V.P. of Exploration David Dupre, P.Geo., designated as a qualified person under National Instrument
43-101.
About the Kirkham Property
The 106 sq.km Kirkham Property is located about 65km north of
Stewart, B.C.
within the prolific
Golden Triangle. The northern border of Kirkham is contiguous to Garibaldi Resources' E&L Nickel
Mountain Project whereas the northeast corner of the property is within 12 km of the Eskay Creek
mine and the eastern border is within 15 - 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 symbol MTS on the TSX Venture Exchange and the
OTCQB Venture Market under the symbol MTLFF and currently has 32,431,129 shares issued and
outstanding.
2018 Venture 50
Metallis Resources Inc. was included in the 2018 Venture 50 (the "V50"). The V50 is a ranking of top
performers on the TSX Venture Exchange last year. The ranking is comprised of ten companies
from each of five industry sectors selected based on three equally weighted criteria: Market
capitalization growth, share price appreciation and trading volume amount.
To view the V50 video click here.
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 as a result 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 09:30e 24-JUL-18