Metallis Completes IP Survey Over Cliff-Miles Porphyry Corridor at Kirkham
Metallis Completes IP Survey Over Cliff-Miles
Porphyry Corridor at Kirkham
VANCOUVER, BC
,
Oct. 7, 2021
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS) (OTCQB:
MTLFF) (FSE: 0CVM) (the "Company" or "Metallis") announces the completion of a high-resolution
induced polarization ("IP") survey (or "Survey") on the Company's 100%-owned Kirkham Property
(the "Property"). The Property is situated in the prolific
Eskay Camp
of the Golden Triangle,
northwestern
British Columbia
, a district well-known worldwide for the past producing Eskay Creek
and Snip gold mines, Seabridge's KSM porphyry deposits and Pretium's producing Brucejack gold
mine.
The Company re-engaged Scott Geophysics to carry out an additional IP Survey at the Property to
build on the favorable results from last year's geophysics program. The 26.4 line-km Survey covered
the highest priority Cliff and Miles prospects (
Click Here to View Map
). Due to abnormally difficult
weather conditions, other prospective targets including Cole, Rhyolite Ridge and Mount Dunn (
Click Here to View Map
) are expected to be surveyed early next spring. Most importantly, two of the
lines covered the northern extension of the IP resistivity "high" that was identified last year.
Additionally, two N – S oriented lines were done over the entire Miles prospect. These will assist the
line-to-line correlation of the IP results.
The Survey at the Cliff-Miles porphyry corridor was designed to measure the resistivity and
capacitive properties of the mineralized Hawilson Monzonite. The IP chargeability response is used
to discriminate between the graphitic argillite and zones of higher concentrations of sulphides with
copper-gold mineralization. The IP resistivity-highs have been successful in outlining the dimensions
of the central 2 km-long zone of intense silicification, and gold-rich mineralization as intersected in
KH20-34, which returned 1.13 g/t AuEq* over 54 meters ("m") within a broader interval of 0.64 g/t
AuEq. over
141 m
(See news release
Mar 2021
).
The survey results, once received, will be validated, and interpreted by Dr.
Jules Lajoie
, Metallis'
consulting geophysicist.
*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$1,700
/oz Gold,
US$20
/oz Silver,
US$3.0
/lb. Copper &
$9.0
/lb. Mo. were used for
AuEq g/t. Drilling data to date is insufficient to determine true width of the mineralized zone.
Composites are
determined using a notional 0.20 g/t AuEq cut-off, a maximum of ten meters of
internal dilution for porphyry-style mineralization and no top cut is applied.
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
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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
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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 07-OCT-21