Metallis Returns to Greyhound FOR Phase 2 Antimony Program, Attends Boise Mining Conference
METALLIS RETURNS TO GREYHOUND FOR
PHASE 2 ANTIMONY PROGRAM, ATTENDS
BOISE MINING CONFERENCE
VANCOUVER, BC
,
Oct. 22, 2024
/CNW/ -
Metallis Resources Inc.
(TSXV: MTS) (OTCQB:
MTLFF) (the "Company" or "Metallis") announces that a 2
nd
Phase field exploration program (the
"Program") is currently underway at the Company's Greyhound Property (the "Property"), following
up on several high-priority showings identified during the inaugural field exploration program this past
summer. These showings returned multiple high-grade antimony assays along with high-grade silver,
gold, lead, and zinc. (See news release
September 17, 2024
).
The Company also announces that members of the Metallis executive team (the "Team") will be
attending the Boise Mining Conference
October 28-29
, with the goal of establishing working
relationships with key stakeholders across government, interested public organizations, local
communities, and industry. These relationships will be critical in expanding Metalllis' exploration
work, and specifically the antimony potential that the Company has uncovered on the Greyhound
Property. The team encourages both new and existing investors attending the conference to contact
the Company to arrange a meeting, subject to availability.
Fiore Aliperti
, Metallis' CEO and President, commented, "As we look to build on our inaugural
program, this next phase of exploration at Greyhound provides a key step in advancing this precious
and critical metal project to the drilling stage. Results from the first phase of work have delivered
robust antimony/silver/gold numbers and have highlighted several excellent showings that the team is
keen to further test." he went on to add, "We are excited to be attending the Boise Mining
Conference, where we'll have opportunities to engage with investors and establish partnerships with
key stakeholders from government and industry, with a focus on advancing critical metal potential.
Establishing these connections is crucial as we advance Greyhound".
Key Highlights:
Planned field work includes focused structural mapping, soil sampling, and follow-up rock
sampling at the high priority showings; and
Sampling of historic concentrate (provided by the property owner) will be analyzed to aid in
metallurgical understanding and provide antimony assays from the underground workings
Phase-Two Program Goals:
With positive results returned from the Company's inaugural field exploration program, the geological
team has been tasked to advance several high-priority showings to a drill ready stage. Further
structural analysis and geological mapping will take place at the most advanced targets such as the
1350', Bulldog and Birdie. This will enable drill targeting as the team identifies the cross structures
and orientation related to the mineralized shoots. At the newly discovered Akita showing, further
work will outline its size and grade as the team is excited about the initial sampling in the area.
Additionally, further soil sampling will be completed at narrower intervals of
100 m
spacing between
the previous soil lines as it has proved to be an efficient technique in discovering new mineralization
on the Property.
Mining Conference:
The Boise Idaho Mining Conference will bring together a multitude of key partners in the
Idaho
mining community including drilling and other key subcontractors, local government, mineral
exploration companies and major mining firms. Attending the conference provides an important step
in solidifying the Greyhound as a key project in the
Idaho
silver/gold space as well as the highly
sought after antimony market (Click
HERE
to view recent article on Reuters). The team will be
establishing working relationships with environmental groups, the local community, governments and
the US Department of Defense, which has recently invested in critical minerals including antimony.
Two primary objectives are the creation of partnerships with interested stakeholders in the antimony
market and building relationships with key mining and drilling subcontractors.
About the Greyhound Property
The Company acquired the Greyhound Property located in
Custer County, Idaho
, approximately 42
km northwest of the town of
Stanley
, in
February 2024
. The Company entered into an option to earn
a 100% interest in Greyhound with staged payments and exploration expenditures over a ten-year
period of US
$670,000
and US
$10,000,000
, respectively. Full terms are disclosed in the annual and
quarterly financial statements filed in 2024 and in a press release from the signing of the agreement
on
February 27, 2024
. 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 3.6 km
mineralized shear zone. Since 1910, the property has seen limited exploration and only minor
development when the Greyhound Mine was reactivated and mined sporadically from 1980-1991.
The last remaining ore from this period was shipped to a smelter in 2000 and the property remains
substantially underexplored.
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.
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:
http://www.newswire.ca/en/releases/archive/October2024/22/c6061.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 22-OCT-24