Location: 399483 E, 6263159 N

Mineral Deposit Type: Porphyry / Epithermal

Commodity: Gold-Copper-Silver

Size: 1000 x 800m Geochemical Anomaly

Exploration Completed: Remote Sensing WV3, Mapping, Sampling (Rock), VTEM, Drilling 1300m

Planned Work: Continued Drilling, Detailed Mapping

Geological Setting

The Cole Porphyry system defines the northern extent of the 7.5 km long Hawilson Monzonite (‘HM’). The 2017 exploration work outlined a 400m x 200m wide area of gossanous, quartz-sericite-pyrite (‘QSP’) altered diorite and monzodiorite porphyry intrusions. These intrusions are emplaced as NNE-trending (015º) linear dikes hosted by Stuhini andesitic volcanic rocks and unconformably overlaid by Hazelton rocks to the west. The gossan within the QSP alteration are characterized by pervasive and boxwork hematite-jarosite-limonite ± Mn and Cu oxides. The historic surface rock samples with 0.2-0.9% Cu and soil with 300 to >600 ppm Cu and 100-500 ppb Au well correlate with the QSP alteration.
Worldview-3 Elevation Model and Sericite Distribution

2018 Exploration and Drilling Program

The 2018 geological mapping program identified Cole as a typical sub-alkalic porphyry copper-gold target with the alteration footprint extended for 1000 x 800 meters that has never being drilled. The mapping indicated a zonation pattern of QSP alteration surrounded by propylitic (chlorite-epidote-carbonate) alteration. The Cole porphyry intrusions including diorite and monzodiorite transition outward into massive sulphide and epithermal style sheeted quartz veins.

Metallis’ 1st ever drilling campaign in Cole target this year consisting 3 drill holes totaling 1302 meters discovered a series of NS-trending mineralized porphyry dikes, hydrothermal breccias and massive sulphide veins cutting across the volcano-sedimentary rocks of Stuhini formation. The cm-scale massive sulphide veins in both KH18-18 and KH18-19 drill holes appear similar to the gold-bearing veins found in Snip mine, which produced 1.1 million ounces of gold at an average grade of 27.5 g/t from 1991 to 1999 (MINFILE, 2015: Snip, 104B 250; BC Ministry of Energy and Mines).

The drilling assays at the Cole target indicated a high-grade gold zone containing 11.18 g/t Au over 7.7m including 137 g/t Au over 0.6m. Some of the significant assay results and control of mineralization is given below.

Drilling Highlights

KH18-18 intersected porphyry style mineralization in shallow quartz stock work zones and sulphides carrying 0.94 g/t Au over 9m and 0.42 g/t Au over 10m. Alteration patterns in the core, geology and geophysics all vector towards a mineralized system to the southeast.

KH18-19 discovered a high-grade zone of 11.18 g/t Au over 7.7m including 137 g/t Au over 0.6m associated with shallow, intrusion-related massive sulphide veins. These veins transition outward into epithermal sheeted veins located at the Etta target to the west. (MTS New Release – Nov 20, 2018).

KH18-20 was drilled along and across the Adam fault cutting through a series of 4-9m gold intercepts ranging from 0.40 to 0.74 g/t AuEq, associated with similar centimeter-scale massive sulphide veins as in KH18-19.

A summary of the 2018 assays are tabulated below. Additional information including geological maps, cross section and field photographs can be found in the galleries.

2018 Drill Holes and Assay Results

Etta Epithermal Gold

The Etta epithermal gold system occurs immediately to the west of Cole porphyry system near the Triassic-Jurassic, Red Line unconformity (Nelson and Kyba, 2014. Metallis exploration team in 2018 identified a North-South trending zone of sheeted epithermal gold veinsand a steeply dipping, 10m-long and 0.5m-wide Epithermal vein on the northern slopes. These veins are temporarily and spatially related to the Cole porphyry system to the east.The cm-scale,drusy texturedquartz-calcite veins remains open along strike. These epithermal gold veins and sericitic alteration in the area correlate with a large (700 x 300m) geochemical anomaly with multiple high-grade gold (>1.0 g/t)assayed in rocks. The key geological and geochemical features are given below.
  • Etta is hosted by several parallel, tabular north-south trending veins of bull-quartz-carbonate with native gold, electrum and chalcopyrite. These veins are emplaced in the phyllic – propylitic alteredsedimentary rocks of the Hazelton formation to the west of Hawilson Monzonite.
  • The tabular sheeted quartz veins at Etta are characterized by drusy textures and exhibittypical gold pathfinder mineralogy typical of epithermal systems
  • A rock chip sample (Y060741) from a newly discovered vein assayed 13.2 g/t Au, 795 g/t Ag, 0.5% Cu and 1.3% Zn and another sample half a meter away returned 1.14 g/t Au, 1.18% Cu and 67 g/t Ag – see attached photo of Y060741 sample location.
Etta Y060741 Sample

Exploration Potential

The high-grade gold intercept from Cole 2018 drilling program are related to the cm-scale sheeted quartz-carbonate and massive sulphide veins at the interface between Cole and Etta targets. These gold bearing veins are associated with the hydrothermal fluids of the Hawilson Monzonite and transitioned westward intothe untested Etta target.Metallis technical team plan to conduct detail geological mapping of the Cole porphyry and Etta epithermal vein systems. A dipole-diploe IP surveys is planned to delineate conductive zones associated with gold-bearing disseminated and massive sulphide veins in the area.Metallis Resourceslook forward to drill this highly prospective ground in the 2019 field season.