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METALLIS ANNOUNCES DRILLS TURNING AT KIRKHAM PROPERTY IN THE GOLDEN TRIANGLE

METALLIS ANNOUNCES DRILLS TURNING AT KIRKHAM PROPERTY IN THE GOLDEN TRIANGLE


July 28, 2021  Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF; FSE: 0CVM) (the “Company” or “Metallis”) is pleased to announce the commencement of its 2021 drill program (“the Program”) at its 100%-owned Kirkham Property (the “Property”). The Property is situated in the prolific Eskay Camp of the Golden Triangle in northwestern British Columbia, a district known worldwide for the past producing Eskay Creek and Snip gold mines, Seabridge’s KSM porphyry deposits and Pretium’s producing Brucejack gold mine.

An initial 8,000m drill program has begun – with a focus on the Cliff-Miles porphyry corridor that forms a 4 km section of the Hawilson Monzonite (“HM”), a 7.5 km long porphyritic intrusion on the property. The Program will target two types of mineralization. The first holes (Click Here to View Map) are intended to test for higher grade copper and gold mineralization beneath previous drill hole intersections. The other target in the Miles Zone is the large gold-bearing overprinted siliceous zones and quartz-carbonate-sulphide veins that are coincident with a prominent IP resistivity-high and a strong gold-in-soil geochemical anomaly. Preliminary results from the recently completed property wide ZTEM survey, along with drill core re-logging and ground truthing work over the last two weeks, has helped support the geological team with confirming optimal drill collar locations.

Metallis’ VP of Exploration Dave Dupre stated,

Metallis’ planning and early execution of time sensitive actions have led to the on-time commencement of the diamond drilling program at the Cliff/Miles Zone. During the past two weeks, the field crew has constructed most of the drill pads and relogged over 6,500m of drill core from 12 holes that have a bearing on this year’s target selection.

He went on to add,

A very aggressive drilling campaign has been planned for this field season. This program will seek to expand on last year’s results such as KH20-37 which returned 83m @ 0.68 g/t AuEq.* and KH20-34 which returned 141m @ 0.64 g/t AuEq.

*Gold equivalent grades (“AuEq.”) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as no metallurgical data are available. The metal prices including: US$1700/oz Gold, US$20/oz Silver, US$3.0/lb. Copper & $9.0/lb. Mo. were used for (AuEq g/t). 

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 the Kirkham Property

The wholly owned 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 Property is prospective for multiple mineral deposit types and is located along a strategic geological boundary – the “Red-line” exposed on the western margin of the Eskay Rift system in the Golden Triangle, northwestern British Columbia.

The Kirkham Property is contiguous to Garibaldi Resources Corp.’s E&L Nickel Mountain Project in the north and Eskay Mining Corp. to the east. The property is within 12 km of the Eskay Creek mine and within 12 – 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 symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt Stock Exchange. The Company currently has 52,839,878 common shares issued and outstanding.

 

On behalf of the Board of Directors:

/s/ “Fiore Aliperti”

Chief Executive Officer, President and Director

 

For further information:

Tel: 604-688-5077

Email: info@metallisresources.com

Web: www.metallisresources.com

 

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 various 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.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.

Source: Metallis Resources

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