Metallis Expands the Cliff Porphyry Copper- Gold System for a Strike Length of 3km on the Kirkham Property
Metallis Expands the Cliff Porphyry Copper-
Gold System for a Strike Length of 3km on the
Kirkham Property
VANCOUVER
,
Feb. 20, 2020
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS; OTCQB: MTLFF)
(the "Company" or "Metallis") is pleased to announce the second set of assay results from the
Company's 2019 drilling program (the "Program"). The Program has now expanded the Cliff
porphyry copper-gold system northward for a strike length of 3km along the 7.5km Hawilson
Monzonite Porphyry Complex at its 100%-owned Kirkham Property. The Kirkham Property is located
within the prolific
Eskay Camp
of the Golden Triangle, northwestern
British Columbia
.
The Program was designed to establish the continuity and controls on mineralization in some of the
untested areas with more challenging topography and access. The drilling assays have confirmed
large areas of near surface gold-rich mineralization along structural pathways, a unique setting which
could yield greatly improved mine economics of the system.
Highlights
KH19-27, drilled 1.2km to the north of Cliff, has now confirmed a 3km long porphyry system of
near surface bulk-tonnage style copper-gold mineralization between the Cliff and Miles zones (
Click here to view map
)
Gold-rich mineralization in KH19-27 correlates with massive sulphide veins along syn-mineral
conjugate faults and breccias identified as future exploration targets (
Click here to view long section
)
Interpretation of the updated 3D geological modelling has revealed two sub-parallel zones of
copper-gold mineralization striking N15°E and dips ~70° to the east leaving a substantial gap of
untested area open laterally and vertically. (
Click here to view 3D geological model video
).
Metallis' technical team has identified a structural control of mineralization. The hanging wall and
footwall of the northeast oriented fault host two sub-parallel zones correlated with potassically
altered Monzonite porphyry intrusions. An important development in the geological understanding is
that the intensity of alteration, veins and chalcopyrite-pyrite ratios increases with depth. This pattern
combined with 3D distribution of copper-gold grades vector towards a high-temperature, well-
mineralized potassic core to be drill tested at lower elevations.
The Cliff Porphyry System shares similar geological characteristics, metallogeny and copper-gold
grades with that of the nearby Kerr Deposit of Seabridge Gold's KSM project. The fault bounded
porphyry dikes, hydrothermal breccias, alteration patterns and copper-gold grades (See Table 1)
are all shallow features which reflect the tip of a large porphyry system preserved at depth. The
distribution of near surface mineralization represents an ideal open-pit extraction scenario during an
initial development stage.
The 2019 results, together with previous results, are tabulated
below.
Table:1 Summary of the 2009 and 2019 Assay Results at Miles zone
Hole_ID
From
(m)
To (m)
Length (m)
AuEq (g/t)*
Au (g/t)
Cu (%)
Mo(g/t)
MD09-03
18
91
73
0.34
0.22
0.07
21.7
Incl.
18
52
34
0.42
0.28
0.09
29.8
MD09-03
150
208
58
0.35
0.21
0.09
30
MD09-04
19.5
82
62.5
0.27
0.11
0.11
19.9
MD09-05
9.1
147
137.9
0.28
0.16
0.08
18.1
MD09-05
247
301.5
54.5
0.39
0.36
0.02
4.98
KH19-26
No Significant Mineralization
KH19-27
130.5
215
84.5
0.35
0.18
0.09
24.6
Incl.
130.5
164
31.5
0.48
0.2
0.17
60.4
Metal Prices used: Gold = US$1470/oz, Copper = US$2.75/lb Molybdenum = US$10/lb
Metallis Resources' Vice President of Exploration,
David Dupre
stated, "We are extremely proud of
our early exploration achievements derived from only 17 drill holes at the Cliff Porphyry System.
Rarely has a Porphyry Copper-Gold project with significant upside potential been advanced so
rapidly".
Chief Geologist, Dr. Razique noted "Our updated 3D geological modelling and structural
reconstruction has revealed that the Cliff is a substantial porphyry system capped by a series of
northeast trending sub-parallel mineralized zones linked to a much larger magmatic-hydrothermal
system underneath".
The Company also reports geological modeling and advanced porphyry vectoring and fertility tools
("PVFTs"), using chemical compositions of hydrothermal alteration zones is underway to predict the
likely direction and distance to mineralized centers. The results of the "PVFTs" combined with
existing hyperspectral surveys and 3D models are being interpreted to discover the higher-grade
core zones of the Cliff Porphyry system.
QAQC Procedure
Metallis Resources has implemented a rigorous quality assurance / quality control (QA/QC) program
to ensure best practices in the diamond drill core sampling and analysis. The initial sample
preparation was carried out at the ALS facility in
Terrace, BC
, whereas, the geochemical analysis
was performed at the ALS laboratory in
North Vancouver
. Assay values are uncut. For gold, fire
assays are performed as per ALS method Au-AA26 (0.01- 10.00 g/t Au) using 50 grams of sample
measured by atomic absorption (AA). Assays equal to or greater than 10 g/t Au are reanalyzed
gravimetrically by method Au-GRA22. Silver and copper are analyzed by ALS method ME-MS61
with a 4-acid digestion followed by ICP-MS analysis.
Qualified Person
David G. Dupre
, P.Geo., Vice President, Exploration for Metallis Resources Inc. and a Qualified
Person as defined by NI 43-101, has reviewed and approved the technical information in this press
release.
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 Property is 100%
owned by the Company and is prospective for multiple deposit types and is in the prolific
Eskay
Camp
of the Golden Triangle, northwestern British Columbia.
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
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.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
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and 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:
Tel: 604-688-5077, Email: [email protected], Web:
www.metallisresources.com
CO: Metallis Resources Inc.
CNW 09:15e 20-FEB-20