September 8, 2020
Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF; FSE: 0CVM) (the “Company” or “Metallis”) is excited to announce the commencement of its 2020 Drill Program (the “Program”) at its 100%-owned Kirkham Property (the “Property”). The Property is situated within the prolific Eskay camp of the Golden Triangle in northwest British Columbia, a district known for the past producing Eskay Creek and Snip gold mines, Seabridge’s KSM porphyry deposits and Pretium’s Brucejack gold mine.
An initial 5000 m drill program has commenced – focused on the southern section of the Hawilson Monzonite (“HM”), an approximate 7.5 km – long porphyritic intrusion on the Property. The Program and location of the proposed drill collars has been designed to test targets identified from the recently completed Phase 1 exploration program (See News Release 28th August 2020). Two clear objectives have been established: to target the hidden parts of the porphyry copper-gold mineralization for higher-grades and to target the calcareous mineralized zones flanking the HM on the eastern margin (Click here to view section). The results obtained from the Phase 1 field program have provided an excellent guide to pursue both objectives.
Significant gold mineralization (i.e. 3 m at 14.2 g/t from hole KH18-014) has been observed within calcareous siltstone units forming an approximate 1 km by 2km envelope proximal to the eastern intrusive contact of the HM. The IP survey outlined a substantial resistivity anomaly which measures approximately 600 m by 250 m and is related to a skarn zone of silicified sediments and volcanics, and a coincident gold-in-soils anomaly also conforms to this zone (Click here to view map). This anomaly is also planned to be drill tested during this initial drill phase.
Fiore Aliperti, Metallis President and CEO commented, “The importance of the off-season data analysis cannot be stressed enough. The geological team have worked incredibly hard to get us to this critical point and are expecting to deliver on this year’s drilling objectives”. He went on to add “This year is all about drilling at depth and improving on grade. We’ve also established the existence of a gold zone outside of the Hawilson Monzonite and will be working to see how significant it is.”
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 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 mineral deposit types. The property 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 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.
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
For further information:
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METALLIS COMMENCES DEEP DRILLING AT KIRKHAM
September 8, 2020