Metallis Prioritizes High Impact Drill Targets at Greyhound Property, Idaho
METALLIS PRIORITIZES HIGH IMPACT DRILL
TARGETS AT GREYHOUND PROPERTY,
IDAHO
VANCOUVER, BC
,
May 21, 2025
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS; OTCQB:
MTLFF)
(the "Company" or "Metallis") is pleased to provide an update on the progress at the
Greyhound Property (the "Property"), including prioritization of drill targets for the 2025 season. The
Property contains a high-grade silver/gold/antimony prospect within the historic Stibnite (antimony
mineral) Mining Camp, located in central
Idaho, USA
. Mineralization at the Property is hosted within
a 3.5 km long shear zone with multiple historic mining adits, yet it has never been drill-tested.
Extensive data compilation and geological work has identified multiple prospective showings including
3 high-priority drill ready targets scheduled for drilling this summer.
Dave Dupre
, Metallis' VP of Exploration commented, "The 3.5 km shear zone at Greyhound
compares favorably with many other silver mines within
Idaho's
world-renowned
Silver Valley
.
Historic underground channel sampling at the 1350' target revealed exceptionally high-grade
mineralization, confirming the shear is extremely well endowed. Grab sample assays of 121.4 g/t
AuEq* in the Rufus Adit, 55.2 g/t AuEq* at the Bulldog and 66.3 g/t AuEq* at the Birdie highlight the
incredible potential of the Greyhound Property. It's rare to find such a rich historical project that has
never been drilled, and we're excited and fortunate to be the group taking this next step to unlock its
full potential. "He went on to add, "Greyhound's strategic value is enhanced by its multi-metal profile,
with antimony contributing 15% of the in-situ value alongside silver and gold. This has gained
increased significance following
China's
export restrictions on antimony, a critical metal for defense,
energy and semiconductor applications. Importantly, Greyhound can be developed primarily based
on silver/gold economics, which reduces antimony-related risks while maintaining a strategic supply
potential."
Next Steps
Drone Magnetic Survey:
This survey will be initiated to pinpoint the location of the shear in
areas of overburden and help identify important mineralizing cross structures.
Induced Polarization Survey:
The chargeability data will be used to highlight the thickest
zones of high-grade mineralization and aid in refining drill targets.
Drill Targets:
Metallis has focused on three high-priority targets for 2025 drilling: 1350',
Bulldog, and Birdie.
Permits:
As the proposed work is on patented claims, only one minor permit is required for the
proposed work.
Service Providers:
The team is in the process of qualifying bids from multiple service
providers.
Proposed 2025 Drill Targets
The three highest-priority drill targets were identified by interpretation of historic results and
extensive work by the Metallis team over the last year. These targets will be tested with multiple
drillholes in a program planned to total
2,000 m
. No drilling has ever been conducted on the property
so all targets will see their first ever drill testing during the inaugural program planned for the
upcoming field season. The three highest priority drill targets are described below.
1350' Target
Drilling at the 1350' will be used to expand a high-grade silver/gold/antimony zone mined historically
in the 1980's with multiple drill holes focused above and below the Lower Rufus adit. Historical
channel sampling
†
along a 36.9 m length of this adit returned 1.85 g/t Au and 785 g/t Ag (10.6 g/t
AuEq*), confirming a high-grade mineralized shoot exists at this location. Three grab samples taken
historically from this same zone also provided high-grade results up to: 3.27% Sb, 8,770 g/t Ag,
1.87 g/t Au, 18.7% Pb, and 20.8% Zn.
Prospective area for drill targeting at the 1350’ (CNW Group/Metallis Resources Inc.)
Prospective areas above and below the 1350' mineralized zone will be targeted for drilling during the
2025 season as historic mining has only tested one of this extensive shear system. Vertical
extensions of the mineralized zones have been validated through multiple mining raises and historic
descriptions. Vertical continuity can be traced to a surface trench located
200 m
above the adit that
returned 2.0 g/t AuEq* over
4 m
with 3 nearby float samples returning grades > 10 g/t AuEq*. Given
the long strike length of the Greyhound shear system, it is probable that there is significant depth
potential on the property, including at the 1350' zone. This can be exemplified by
Idaho's
currently
operating Lucky Friday mine operated by Hecla Mining, that reaches a total depth of
2,922 m
below
surface making it the deepest mine in the
USA
.
Bulldog Target
The Bulldog target has demonstrated rich antimony mineralization as well as very strong gold and
silver results from sampling completed by Metallis in 2024. Highlights include chip sampling that
returned 353 g/t Ag and 0.61% Sb over
3 m
, including a 15 cm high-grade quartz sulfide vein,
outcropping over
13 m
in length, that produced an average of 2.68% Sb, 1,624 g/t Ag and 0.60 g/t
Au from 4 samples (27.9 g/t AuEq*). This vein was missed by the former operator when excavating
a surface cut and speaks to the well-endowed system as they prioritized mineralization adjacent to
this vein. A very high-grade antimony sample has also been returned from a nearby stockpile that
contained 4.54 % Sb.
Plan view map of proposed drill holes at the Bulldog Target (CNW Group/Metallis Resources Inc.)
A functioning access road was built to this target to accommodate a historic surface cut from the
1980's and a historic adit from the early 1900's. This road will be utilized for efficient drill testing and
will improve economics for the upcoming drill program. The Bulldog represents one of the largest
areas of exposed mineralization at surface and the shear zone is up to
15 m
across with multiple
anastomosing quartz sulfide veins that total
3 m
. This target has also never been drilled, and the
geological team intends to test this high-grade mineralization with multiple planned drillholes.
Birdie Target
Significant gold and silver were found at the Birdie target, where two trench cuts located
70 m
apart
as well as historic adits both revealed a sizeable shear zone with quartz sulfide veins of 1-
3 m
width.
An 80 cm block from Upper Birdie cut yielded 4,900 g/t Ag with other grab samples nearby
returning up to 67.0 g/t AuEq*. A 50 cm quartz sulphide vein sampled from Lower Birdie cut returned
18.15 g/t Au, and six out of seven samples from the phase-two program at the Lower Birdie
returned >1.8 g/t Au. These findings emphasize the Birdie as a gold rich zone and highlight the
exceptional gold values that were overlooked historically. This target is located on a parallel trend to
the main Greyhound shear and suggests additional potential lies in adjacent shear zones that have
not been well explored. Access is along a previously constructed road allowing for convenient
adjustments and expansion drilling.
Plan view map of proposed drill holes at the Birdie Target (CNW Group/Metallis Resources Inc.)
About the Greyhound Property
In
February 2024
, the Company optioned the Greyhound Property which is located in
Custer County,
Idaho
, approximately 42 km northwest of the town of
Stanley
and 35 km south of Perpetua
Resources' Stibnite gold mine. This property was the center of an active silver mining camp in the
early 1900's and at one point contained a smelter and two active mines situated along a 3.5 km
shear.
The Greyhound targets are hosted by prominent shear zones with polymetallic quartz - sulphide
veins containing elevated concentrations of Au, Ag, Sb, Pb and Zn. They are comparable to
numerous mines in
North Idaho's
Silver Valley
along Interstate 90. This famous district is one of the
most prolific silver districts in the world. The total quantities produced are impressive: over a billion
ounces of silver, 3 million tons of zinc, and 8 million tons of lead totaling over
$6 billion
in value,
ranking the
Silver Valley
among the top ten mining districts in world history.
QAQC
All the rock samples were kept under the control of Metallis staff until they were delivered directly to
the ALS laboratories Ltd. sample preparation facility in
Twin Falls, Idaho
(an independent certified
laboratory facility). Analyses were then completed by ALS in
Vancouver
. Blanks and standards have
been added to the samples stream by ALS along with internal QAQC protocol. All the samples were
initially analyzed by the Ultra Trace technique. Results that returned values greater than a pre-
determined threshold were then analyzed by element – specific methods as noted below:
ME-MS 41: Ultra Trace Aqua Regia ICP-MS.
ME-GRA21: Au, Ag 30g Fire Assay – Gravity Finish
Pb-OC46: Ore Grade Pb – Aqua Regia
Zn-OC46: Ore Grade Zn – Aqua Regia
Sb-ICP08: Sb – KCl/HCl digestion ICP-MS
As-OC46: Ore Grade As – Aqua Regia
A grab sample is taken from a rock outcrop that is being assessed for the presence of valuable
elements and are therefore selective. They are solely designed to show the presence or absence of
mineralization and are not intended to provide nor should be construed as a representative indication
of grade or mineralization at the Property.
Chip-channel sampling involves taking contiguous rock chip samples along a line to define the width
and grade of a zone. Commonly, these are taken perpendicular to the strike of the mineralized zones
†
The grades of the Greyhound 1350' zone are historical and cannot be verified by Metallis although
there is no reason to believe they are inaccurate.
*Gold and Silver equivalent values are derived from the following prices in USD; Au
$2,500
per
ounce, Ag
$28
per once, Pb
$0.90
per pound, Zn
$1.20
per pound, Sb
$12.00
per pound
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 Metallis
Metallis Resources Inc. is a
Vancouver
-based company focused on the exploration for gold, copper
and silver on its flagship 100%-owned Kirkham Property in
Canada
, situated in northwest
British
Columbia's
Golden Triangle, and on the Greyhound Property, a gold/silver/antimony target in
Idaho,
USA
.
Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB
Exchange, and 0CVM on the Frankfurt Stock Exchange, and has 75,305,003 common shares
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-
looking statements are not guarantees of future business activities or performance and involve risks
and uncertainties, and that the Company's future business activities may differ materially from those
in the forward-looking statements because of numerous 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.sedarplus.ca
. 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2025/21/c5740.html
%SEDAR: 00025829E
For further information:
For further information: Tel: 604-688-5077, Email:
[email protected]; Web: www.metallisresources.com
CO: Metallis Resources Inc.
CNW 08:00e 21-MAY-25