Metallis Commences Phase 1 Exploration Program at Greyhound Property, Idaho USA
METALLIS COMMENCES PHASE 1
EXPLORATION PROGRAM AT GREYHOUND
PROPERTY, IDAHO USA
VANCOUVER, BC
,
July 17, 2024
/CNW/ -
Metallis
Resources Inc.
(TSXV: MTS) (OTCQB:
MTLFF) (the "Company" or "Metallis") is pleased to announce the commencement of the Company's
inaugural field exploration program (the "Program") on the Company's recently acquired Greyhound
property ("the Property"), a high-grade silver/gold/antimony project within an historic mining camp,
located in
Idaho, USA
. The geological field team has been tasked with the evaluation of high-grade
mineralized zones at several known showings, and to identify new areas of high-grade mineralization
throughout the Property, including the 3.6 km Greyhound shear zone and several other historic
showings.
The Program will include the use of modern exploration technologies such as a portable X-Ray
Fluorescence (XRF) spectrometer to support immediate on-site analysis alongside more traditional
activities like rock/soil sampling, geological mapping, and trenching, all of which will play a key role in
identifying potential drill sites and expanding the understanding of the mineralized zones. The team is
currently working alongside the property owner (See image) who has held the property for 40 years
and has an intimate knowledge of the areas of historical work and areas offering the highest mineral
potential. Results from the Program are expected to drive a planned drilling campaign to be
conducted later in the 2024 season.
Metallis geological team with property owner Dan Yanke outside the Rufus Adit, the Greyhound
Property. (CNW Group/Metallis Resources Inc.)
Fiore Aliperti
, Metallis' President and CEO commented, "It's fantastic for us to announce the start of
our 2024 work programs at Greyhound. The team has been anxious to get boots on the ground
since we completed the property option agreement and started the data evaluation process.
Exploration efforts will focus on both existing sites with historic mining activity and underexplored
areas which offer the potential of new exploration targets. We are well-prepared to leverage our
technical expertise and apply modern exploration methods to advance our understanding of the
Greyhound property's mineral potential. We look forward to seeing results and confirming drill
targets."
About the Greyhound Property
The Greyhound Property is in
Custer County, Idaho
, approximately 42 km northwest of the town of
Stanley
. In
February 2024
the Company entered into an option to acquire a 100% interest in the
Property. 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 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 from 1980-1991. The last remaining ore from this
period was shipped to a smelter in 2000 and the property remains substantially unexplored.
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 recently acquired Greyhound Property, a
silver/gold/antimony project 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 currently has 68,455,003 common
shares issued and outstanding.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director
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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 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
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does not assume any obligation, to update these forward-looking statements.
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SOURCE
Metallis Resources Inc.
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For further information:
For further information: Tel: 604-688-5077, Email:
[email protected], Web: www.metallisresources.com
CO: Metallis Resources Inc.
CNW 09:00e 17-JUL-24