Metallis Completes 2019 Drill Program on the Kirkham Property
Metallis Completes 2019 Drill Program on the
Kirkham Property
VANCOUVER
,
Nov. 28, 2019
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS; OTCQB: MTLFF)
(the "Company" or "Metallis") announces the completion of the 2019 field exploration and drilling
program (the "Program") at its 100%-owned Kirkham Property (the "Property"), located in the
prolific
Eskay Camp
of the Golden Triangle, northwestern
British Columbia
.
The Property is highly prospective for multiple mineral deposit types associated with the fertile
magmatic – hydrothermal events along the Eskay Rift system. The 2019 Program was designed to
evaluate the porphyry copper-gold, epithermal gold and nickel targets throughout the Kirkham
Property. The Company excavated 23 trenches and completed 11 drill holes totaling 4,460 meters
("m") in the high-priority targets including the Cole-Etta, Miles and Cliff porphyry centers. The
inclement weather towards the end of the season, precluded the drilling of several other porphyry
copper-gold and nickel targets. A summary of the drilling program is presented in Table 1. Analytical
results have been slow to arrive due to a backlog at the laboratory. Assay results will be released
upon receipt and verification.
Cole-Etta High
-grade Gold Target
Building on last year's high-grade drill intercept of
137 g/t Au
over
0.6m
(See news release dated
November 29, 2018
), Metallis' geologists outlined a 1 km long by
200m
wide zone of NE oriented
faults and epithermal veins along the Cole porphyry system. Over 200 continuous rock-chip samples
were collected from 21 trenches excavated along the historic copper and gold geochemical
anomalies. (
Click here to View Map
). The highlight assays included
18 g/t Au
over
0.2m
in a drusy
textured epithermal quartz vein and
0.56 g/t Au
and
0.31%
Cu over
0.9m
within massive pyrite-
pyrrhotite veins. Several
2m
intervals of continuous trench samples assayed anomalous gold ranging
from
0.5 g/t to 1.25 g/t Au
. Based on the trench sampling results and field exploration, the
Company drilled 6 holes totaling
2,235m
in the Cole-Etta target area. Assay results are pending.
Miles Porphyry Gold-Copper System
3D geological modeling and field mapping conducted earlier in the 2019 season discovered a large
600m
x
300m
wide porphyry stock called the "Miles zone", north of the Cliff porphyry system (
Click here to View Map
). The monzonite porphyry stock shows systematic patterns of potassic
alteration surrounded by sericitic and outer propylitic alteration zones. The geological team
excavated two
20m
-long trenches and collected 21 continuous rock-chip samples for geochemical
analysis. The assays reported anomalous gold-copper values highlighted by
3.7 g/t Au
and
0.87%
Cu
over
2m
in the southern trench. The field exploration and encouraging geochemical results
warranted the drilling of 2 holes totaling
761m
at this prospect. Assay results are pending.
Cliff Porphyry Gold-Copper Target
3D geological modeling and thorough surface mapping verified a ~60
o
eastward dip of the Hawilson
Monzonite. This work doubled the width of the Cliff zone and helped design the 2019 drilling
program. A total of 3 holes comprising
1,464m
were drilled at the Cliff Target. Two of the drill holes
originated from the same location were designed to evaluate the eastern and deeper part of the
Hawilson Monzonite Porphyry. The 3
rd
hole was drilled as a
100m
step out hole to confirm the
continuity of the Cliff porphyry gold-copper mineralization to the north. The near surface part of the
mineralized zone has now been systematically tested at ~100m intervals over a strike length of 1
km. Assay results are pending.
Thunder North Nickel Targets
Metallis' exploration team led by Dr.
Peter Lightfoot
identified the "Lehto Pluton" and "K9 Creek" as
two high-priority nickel targets at Thunder North. The initial field program was focused on the lower
flanks of the Lehto Pluton, targeting the ultramafic intrusions and potential magmatic sulfide
mineralization. The 2
nd
phase exploration program in October, discovered a series of gabbroic
outcrops at the K9 target, which sits within the Ni-Mountain gabbros and is located ~1.5 km
southwest of the E&L deposit (
Click here to view map
). A drill location was set up to test a subtle
geophysical anomaly and potential differentiated olivine gabbros at K9 Creek. The proposed hole
wasn't drilled due to poor weather and freezing temperatures at higher altitudes late in the season.
This drill ready target is expected to be tested early in the Company's 2020 drill program.
Table-1
Summary of the 2019 Drilling Program at Kirkham Property
Area
Hole_ID
Easting
Northing
Azi
Dip
Plan_m
Depth_m
Target Description
Cole-Etta
KH19-23
399452
6263062
280
-45
250
307
Au-geochemistry across a NE-trending fault to the west
Cole-Etta
KH19-24
399255
6263367
90
-45
350
445
Sheeted veins, Cu-Au geochem and NE-trending faults
Cole-Etta
KH19-25
399255
6263370
120
-45
350
461
Au-geochemistry, NE-faults, and 137 g/t Au in KH18-19
Miles
KH19-26
399377
6259432
105
-60
450
383
Adam fault, Cu-Au geochemistry, mag-high and potassic
Miles
KH19-27
399680
6259500
280
-75
450
378
Adam fault, deeper mag-high and potassic zone
Miles
KH19-36
399385
6259210
100
-60
400
*Not drilled
Cu-oxides and sericitic alteration in monzonite to the E
Cliff
KH19-28
398833
6257275
110
-60
500
440
Extension of Monzonite and deep Cu-Au potassic to the E
Cliff
KH19-29
398833
6257275
110
-80
500
510
Depth potential of mineralized Monzonite and potassic core
Cliff
KH19-30
398817
6257395
110
-70
500
514
Continuity of Cliff porphyry system to the N, E and at depth
Cliff
KH19-35
399103
6257272
110
-60
500
*Not drilled
Soil Au-geochemistry and depth-potential of Cliff target
Cole
KH19-31
399474
6263373
80
50
450
451
Sulphide veins to the N and mag-anomaly to the E
Cole
KH19-32
399528
6263114
305
45
200
255
Au-geochemistry, sulphide veins N of 137/g/t Au in KH18-19
Cole
KH19-33
399662
6263040
90
60
350
316
Monzodiorite porphyry and magnetic anomaly to the E
Cole
KH19-34
399660
6263038
190
50
400
*Not drilled
Porphyry, gossans and high-grade gold mineralization
Thunder N
KH19-37
394460
6270326
0
60
300
*Not drilled
Targeting a subtle mag and potential olivine gabbros
Planned (m)
5950
Total drilled (m)
4460
*Not drilled:
Targets untested due to poor weather and logistics towards the end of the 2019 field season
Fiore Aliperti
, Metallis' President and CEO stated "Our Exploration Team went above and beyond
our expectations for the 2019 field and drilling season. The team have delivered new discoveries and
met a challenging target of drilling over 4,400 meters within budget. Although we fell slightly short on
our goal for total drilled meters, the understanding on the geology and structural setting in drilling this
year was far better than we could hope for." Mr. Aliperti went on to add "We understand the
frustrations our investors feel with regards to late assay reporting, I fully share those concerns. I
want to assure all that we are in constant contact with our service provider who are totally focused
on turning them around as quickly as possible."
QAQC Procedure
Metallis has adopted a rigorous quality assurance and quality control ("QA/QC") program to ensure
best practices in sampling diamond drill core and surface rock chip and soil samples. Approximately
1 kg of rock/soil and averaged
2m
NQ size diamond drill core samples were delivered to ALS
Global's preparation facility in
Terrace, BC
, where the materials were initially crushed to 70% pass
2mm fraction, and then a 250g split was pulverized to better than 85% passed a 75-micron screen.
The geochemical analyses were performed by ALS in
Vancouver
using multi-element 4-Acid digest
ICP-MS package (ME-MS61). Gold was analyzed by fire assay technique Au-ICP21. In addition to
the internal QAQC program by ALS, Metallis inserted 10% lab certified standards, blanks and field
duplicates into the overall sampling stream. ALS is a global testing, inspection and certification
business with facilities and laboratories in dozens of global locations; and is an ISO/IEC 17025:2005
accredited laboratory independent of the Company.
Qualified Person
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.
About the Kirkham Property
The 106 sq. km Kirkham Property totals 10,610 Hectares and is located about 65 km north of
Stewart, B.C.
, in the heart of the Golden Triangle's prolific
Eskay Camp
. The northern border of
Kirkham is contiguous to Garibaldi Resources' E&L Nickel Mountain Project. The northeast corner of
Kirkham is within 12 km of the Eskay Creek mine while 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 currently
has 36,155,767 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 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
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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 28-NOV-19