Metallis Intersects Significant, Near Surface, Porphyry Copper/Gold Mineralization at the Cliff Zone on the Kirkham Property
Metallis Intersects Significant, Near Surface,
Porphyry Copper/Gold Mineralization at the
Cliff Zone on the Kirkham Property
VANCOUVER
,
Jan. 17, 2020
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS; OTCQB: MTLFF)
(the "Company" or "Metallis") is pleased to announce the first set of assay results from the
Company's 2019 drilling campaign (the "Program") which targeted the Cliff Zone
of the 7.5km
Hawilson Monzonite. The 100%-owned Kirkham Property (the "Property") is in the prolific
Eskay
Camp
of the Golden Triangle, northwestern
British Columbia
.
The Program was designed to better understand the controls on mineralization and infilling some
substantial gaps in the geologic model. Building on the success of the 2018 drilling campaign at the
Cliff Zone, the exploration team has successfully confirmed and extended shallow bulk-tonnage-style
copper/gold mineralization. Rarely, does this advantageous configuration exist in B.C. which could
yield greatly improved mine economics.
2019 Drilling Highlights – Cliff Zone
The 2019 drilling assays combined with previous results have confirmed a
1,800m
-long zone of
near surface gold-rich mineralization (
Click here to view map
).
Extensive intervals of gold-rich mineralization such as
126m
of 0.52 g/t AuEq
in KH19-30 are
associated with potassic altered Monzodiorite porphyry intrusions, to be targeted at deeper
levels.
Higher grade gold intercepts, as in KH19-28, correlates with intense silicification and massive
sulphide veins along syn-mineral tensional faults, identified as future exploration targets
The 2019 drill program at the Cliff Zone comprised three deep holes totaling 1,464 meters. These
drill holes formed part of a larger comprehensive 11-hole (
4,460m
) drilling program designed to
evaluate the porphyry copper/gold and epithermal gold targets throughout the 7.5 kilometer-long
Hawilson Monzonite Intrusive Complex. Results from the other eight holes will be released upon
further assaying, verification and data analysis.
All three holes intersected significant mineralization, highlighted by KH19-30, which returned
126.5m
@ 0.52 g/t gold equivalent* associated with the core potassic altered porphyry. Higher grade gold
intercepts, as in KH19-28, correlates with intense silicification and massive sulphide veins along syn-
mineral tensional faults, identified as future exploration targets (
Click here to view long section
).
The intensity of alteration, veins and chalcopyrite-pyrite ratios increases with depth. This pattern
vectors towards a deeper, high temperature potassic core to be tested in future exploration
programs.
The 2019 results, together with previous results, are tabulated below.
Summary of the Assay Results from the Cliff Porphyry Zone
2019 Drill Results
Hole ID
From (m)
To (m)
Length (m)
AuEq (g/t)*
Au(g/t)
Cu(%)
Mo(g/t)
KH19-28
2.4
59.9
57.5
0.51
0.31
0.14
39
KH19-28
109
170
61
0.3
0.27
0.02
16.6
KH19-29
2.75
151.25
148.5
0.34
0.18
0.11
35.4
Incl
2.75
74
71.25
0.48
0.22
0.19
37.9
KH19-30
34.5
200
165.5
0.43
0.21
0.16
36.7
Incl
34.5
161
126.5
0.51
0.24
0.19
38
Previous Drilling Results
Hole ID
From (m)
To (m)
Length (m)
AuEq (g/t)*
Au(g/t)
Cu(%)
Mo(g/t)
MD09-01
3.04
334.67
331.63
0.35
0.18
0.13
15.4
Incl
3.04
54.05
51
0.39
0.21
0.14
7.8
Incl
154
334.67
180.67
0.53
0.26
0.2
26.1
MD09-02
70
147.44
77.44
0.62
0.24
0.28
51.8
KH17-06
174
176.9
6.9
0.48
0.21
0.2
40.9
KH17-07
88
168.3
80.3
0.4
0.17
0.17
27.9
KH17-08
3.9
439.4
435.5
0.41
0.25
0.11
37.5
Incl
3.9
176
172.1
0.57
0.3
0.2
32.4
Incl
86
166
90
0.8
0.44
0.27
33.7
Incl
310
356
46
0.52
0.32
0.1
135.6
Incl
380
394
14
0.78
0.65
0.07
89.5
KH18-11
203.5
276
74.5
0.37
0.12
0.19
17.6
KH18-12
335
381
46
0.48
0.42
0.04
16.2
KH18-13
222
248
26
0.54
0.49
0.04
5.4
KH18-13
323
568.5
245.5
0.40
0.21
0.12
21.2
KH18-14
36
95
59
0.51
0.44
0.03
63.2
KH18-14
306
404.8
98.8
0.65
0.62
0.02
11.3
KH18-15
61
155
94
0.31
0.23
0.05
40.6
Incl
61
96
35
0.38
0.29
0.04
74.3
KH18-15
214
264
50
0.49
0.39
0.06
50.8
KH18-15
321
339
18
0.52
0.5
0.01
4.6
KH18-15
494
502.9
8.9
0.51
0.5
0.01
2
KH18-16
6.7
315
308.3
0.42
0.26
0.12
20.6
Incl
6.7
148
141.3
0.71
0.4
0.23
25.3
*Gold Equivalent Formula: Au g/t+(Cu%*1.27) +(Mo g/t*0.0005)
Metal Prices Used: Gold - US$ 1470/oz, Copper - US$ 2.75/lb, Molybdenum - US$10/lb
The Cliff results demonstrate the continuity of Cu-Au Porphyry mineralization for at least 1.8km. The
mineralization remains open in most directions, with potential along strike to the north. Two
mineralized holes drilled by a previous operator, extend the Cliff Zone a further
500m
to the north. Of
significance is the tabular distribution of mineralization down the topographic slope representing an
ideal open-pit extraction scenario.
The geological characteristics, metallogeny and copper-gold grades of the Cliff porphyry system are
like several porphyry copper-gold deposits in
British Columbia
, including the Kerr Deposit of
Seabridge Gold's KSM project.
Metallis Resources' Vice President of Exploration,
David Dupre
stated "This season's drilling has
been very successful. We have shown that the copper-gold mineralization occurs close to the
surface slope and have linked these zones with copper-gold mineralization intersected in previous
drilling." Mr. Dupre added "We are excited about these results and plan to further define the higher
grade mineralization as well as test the northern continuation of the Cliff Zone."
Metallis' Chief Geologist, Dr. Razique added "The structural traps with focused fluid flow along syn-
mineral tensional faults host some of the unusually high-grade gold mineralization in the Cliff zone,
this will be targeted in future exploration programs."
Dr.
Eric Grunsky
has been engaged to carry out a geostatistical study which utilizes porphyry
vectoring and fertility tools ("PVFTs"). These use the chemical compositions of hydrothermal
alteration zones to predict the likely direction and distance to mineralized centers. Our existing
hyperspectral surveys will augment this work – particularly, to discover higher grade, core zones
which can be masked by distal propylitic blankets.
In 2020, Metallis plans to expand the known higher-grade zones at Cliff and to evaluate targets
generated by our PVFT studies.
QAQC Procedure
Metallis Resources has implemented a rigorous quality assurance / quality control (QA/QC) program
to ensure best practices in sampling and analysis of diamond drill core. All assays are performed by
ALS Canada Ltd., with sample preparation carried out at the ALS facility in
Terrace, BC
, and assays
at the
North Vancouver
laboratory. 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
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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 09:00e 17-JAN-20