Metallis Discovers Epithermal Vein System at Kirkham
Metallis Discovers Epithermal Vein System at
Kirkham
VANCOUVER
,
Nov. 20, 2018
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS; OTCQB: MTLFF)
(the "Company" or "Metallis") is pleased to announce a new gold/silver discovery on the Company's
100%-owned Kirkham Property located in the heart of the Eskay Camp. The Etta vein discovery
occurs at the northern end of the 7.5km long mineralized Hawilson Monzonite Porphyry Complex,
west of the Cole target.
Highlights:
A rock chip sample (
Y060741
) from a newly discovered vein assayed
13.2 g/t Au, 795 g/t Ag,
0.5% Cu and 1.3% Zn
while a wall-rock chip sample half a meter away returned
1.14 g/t Au
,
1.18% Cu and 67 g/t Ag –
see attached photo of
Y060741
sample location
;
Gold mineralization at Etta is hosted by several parallel, tabular north-south trending veins of
bull-quartz-carbonate with native gold, electrum a chalcopyrite. These veins are emplaced in a
phyllic alteration zone around the periphery of the Hawilson Monzonite;
A historic copper-gold and silver-lead-zinc soil geochemical anomaly extends over an area of
700 meters by 300 meters and is open for expansion; and
The rocks at Etta are characterized by sheeted drusy quartz veins exhibiting typical gold
pathfinder mineralogy associated with epithermal systems.
During the 2018 field mapping program, a steeply dipping epithermal vein with ~10 meters strike
length and ~0.5 meter width, was discovered on a north facing cliff at the Etta target. The quartz-
calcite vein demonstrates drusy textures and remains open along strike. The discovery has led the
geological team to re-interpret the historic geochemical anomaly at Etta as part of an epithermal
system proximal to the Hawilson Monzonite porphyry. –
see map of Etta and Cole targets
Dr. Abdul Razique, Metallis' Chief Geologist, commented: "Etta represents an exciting new prospect
that fits the classic epithermal model that hosts many significant deposits throughout the Cordillera of
North and South America. Such a zone typically forms as the uppermost shell above or distal to a
sub-alkaline porphyry deposit. This has us more encouraged than ever about the high-grade gold
and large-scale porphyry potential at Kirkham."
Drill results from the Cole and Nina targets have been received from the assay labs and are
currently being analyzed and interpreted by Metallis' Technical team. They are due for release
shortly.
QAQC and Analytical Procedures
Metallis Resources Inc. employed a rigorous QA/QC program to ensure best practices in sampling
surface rock chip samples of approximately 1 kg in weight. The samples were delivered to ALS
Global prep facility in
Terrace, BC
, where the samples were crushed to 70% pass 2mm fraction,
and then a 250g split was pulverized to better than 85% passed a 75-micros screen. The
geochemical analyses were performed by ALS Global in
Vancouver
using multi-element 4-Acid
digest ICP-MS package (ME-MS61). Gold was analyzed by fire assay technique Au-ICP21. Higher
gold grades (>10 g/t) were analyzed by fire assay and gravimetric finish. ALS laboratories are
independent of the Company and have used internal QAQC protocols.
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 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 32,986,079 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 each year and is published early in each following year.
The ranking comprises 10 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",
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and uncertainties, and that the Company's future business activities may differ materially from those
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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.
Metallis Resources Inc - Etta & Cole Targets
- GeoChem Map (CNW Group/Metallis Resources
Inc.)
Etta - Sample Y060741 Photo (CNW Group/Metallis Resources Inc.)
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 20-NOV-18