VANCOUVER, BC, Feb. 1, 2022 /CNW/ - Metallis Resources
Inc. (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the "Company" or
"Metallis") is pleased to announce the results from its 2021
drill program (the "Program") at its 100%-owned Kirkham Property
(the "Property") situated in the heart of prolific Eskay mining
camp of the Golden Triangle in northwestern British Columbia. The Eskay mining camp is
well-known for its diverse metallogeny highlighted by the past
producing Eskay Creek and Snip gold mines, Seabridge's KSM porphyry
deposits and Pretium's Brucejack gold mine, which has recently been
sold to Newcrest Mining Ltd. for $3.5
billion.
Fiore Aliperti, Metallis'
President and CEO stated, "Results from the 2021 program are the
leap forward we were looking for and provide a fundamental
breakthrough in the geological model representing the Cliff-Miles
Porphyry Corridor. Most importantly, significant progress has been
made by our team in defining a substantial gold system sitting near
surface at the Cliff-Miles Porphyry Corridor. This improved
understanding has led the technical team to model a significant 600
meter deep, half-graben structure which features a silicified,
gold-rich sub-vertical feeder zone along the Adam Fault with
laterally extensive, semi-conformable, gold-bearing branches which
now expands the corridor even further to the east than previously
thought."
Program Summary and Highlights
The Program consisted of 7 deep drill holes comprising a total
of 4,785 meters ("m"). The holes were designed to expand the large,
2 km long mineralized Cliff-Miles porphyry system. Specifically,
the Program targeted the cluster of Induced Polarization ("IP")
anomalies and the depth potential of the mineralization. (See News
Release September 8, 2020).
Significantly, all drill holes intersected long intervals of well
mineralized porphyritic monzonite and a succession of silicified
siliciclastic rocks carrying high-grade gold (See Table-1
below).
Intercepts of high-grade gold mineralization constrained within
stockwork fractured porphyry intrusions and host rocks were
encountered (e.g., KH21-45 returned 1.05 g/t AuEq over
43 m from surface). The geological
interpretation helped identify a new model of the Cliff-Miles
porphyry system sitting within a fault-bounded half-graben
structure with multiple sub-blocks (Click to view plan map).
The graben structure is attributed to the extensional
tectonics in the Golden Triangle - responsible for hosting some of
the well-known porphyry and epithermal gold deposits such as the
world-renowned KSM porphyry cluster and Valley of the Kings gold
deposit (Board et al., 2020). The down-dropped block within the
half-graben is made up of volcanoclastic, flows and limestones
belonging to the Hazelton Group. The fertile Texas Creek monzonite
stocks intrude this pile and bring the mineralized hydrothermal
fluids. The mineralization in each block is represented by a
sub-vertical feeder (or "Trunk") zone and laterally extensive
branches hosted within a gently east-dipping stratigraphy. Refer to
cross sections linked below.
Dave Dupre, VP of Exploration
remarked, "Guided by the classic zonal model, our initial objective
of the 2021 program was to test for improved porphyry copper/gold
grades at depth. Midway through the program, the geological team
pivoted their focus to the gold rich overprinted siliceous zones.
This led to the impressive results obtained from drill hole
KH21-45." He went on to add, "We are extremely pleased with the
successful application of our new geological model which shows four
Cliff-Miles structural sub-blocks and an eastward expansion of the
near surface gold mineralization. Work is currently underway to
advance our understanding and evaluation of the individual blocks
for their vertical and lateral expansion this coming season".
The siliceous gold zones display remarkable continuity. The gold
zone at the Miles sub-block is ~150 m wide, at least 1,000 m long and 600
m deep. It is open along strike and down-dip. The Miles
sub-block shows broad zones of gold-rich mineralization highlighted
by:
- KH21-45 with 0.43 AuEq over 220.7
m - from surface
-
- Incl. 1.05 g/t AuEq over 43.0
m - from surface
- KH20-37 with 0.42 g/t AuEq over 175.0 m - 400 m
below surface
-
- Incl. 1.24 g/t AuEq over 32
m - 400 m below surface
- MD09-05 with 0.36 g/t AuEq over 86.5 m - 200 m
below surface
Significant drill intersections from the 2021 drill program are
presented below (Table 1), and all the Cliff-Miles holes are
included on the website. (Click Here to View Full Composite
Table).
Table
1
|
|
Hole_ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
AuEq*
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Ag
(g/t)
|
Mo
(ppm)
|
|
|
|
|
|
|
|
|
|
KH21-39
|
231.80
|
316.70
|
84.90
|
0.27
|
0.13
|
0.10
|
0.76
|
17.45
|
|
|
|
|
|
|
|
|
|
|
414.00
|
444.80
|
30.80
|
0.24
|
0.15
|
0.06
|
0.29
|
22.13
|
KH21-40
|
181.40
|
235.00
|
53.60
|
0.24
|
0.21
|
0.02
|
0.49
|
13.35
|
|
|
|
|
|
|
|
|
|
|
374.75
|
552.00
|
177.25
|
0.34
|
0.29
|
0.02
|
0.96
|
16.43
|
|
|
|
|
|
|
|
|
|
incl.
|
374.75
|
396.85
|
22.10
|
0.49
|
0.47
|
0.01
|
0.31
|
3.70
|
|
|
|
|
|
|
|
|
|
incl.
|
519.60
|
552.00
|
32.40
|
0.82
|
0.78
|
0.01
|
1.64
|
2.10
|
KH21-41
|
51.10
|
375.00
|
323.90
|
0.24
|
0.14
|
0.07
|
0.45
|
38.09
|
|
|
|
|
|
|
|
|
|
incl.
|
51.10
|
96.30
|
45.20
|
0.36
|
0.31
|
0.03
|
0.89
|
24.63
|
|
|
|
|
|
|
|
|
|
KH21-42
|
78.00
|
169.50
|
91.50
|
0.38
|
0.33
|
0.03
|
0.38
|
17.05
|
|
|
|
|
|
|
|
|
|
incl.
|
78.00
|
108.00
|
30.00
|
0.63
|
0.60
|
0.02
|
0.22
|
10.98
|
|
|
|
|
|
|
|
|
|
|
436.00
|
644.00
|
208.00
|
0.36
|
0.18
|
0.13
|
0.93
|
38.27
|
|
|
|
|
|
|
|
|
|
incl.
|
451.00
|
565.60
|
114.60
|
0.38
|
0.18
|
0.15
|
0.98
|
33.28
|
|
|
|
|
|
|
|
|
|
KH21-43
|
79.10
|
254.80
|
175.70
|
0.23
|
0.17
|
0.04
|
0.37
|
27.28
|
|
|
|
|
|
|
|
|
|
incl.
|
79.10
|
119.80
|
40.70
|
0.55
|
0.51
|
0.03
|
0.38
|
16.31
|
|
|
|
|
|
|
|
|
|
|
584.00
|
660.00
|
76.00
|
0.30
|
0.27
|
0.01
|
0.20
|
8.73
|
|
|
|
|
|
|
|
|
|
incl.
|
584.00
|
589.60
|
5.60
|
4.01
|
3.69
|
0.20
|
2.75
|
118.53
|
|
|
|
|
|
|
|
|
|
KH21-44
|
77.00
|
423.70
|
346.70
|
0.25
|
0.13
|
0.08
|
0.69
|
31.85
|
|
|
|
|
|
|
|
|
|
KH21-45
|
5.30
|
226.00
|
220.70
|
0.43
|
0.34
|
0.06
|
0.90
|
19.19
|
|
|
|
|
|
|
|
|
|
incl.
|
5.30
|
63.00
|
57.70
|
0.78
|
0.74
|
0.02
|
1.60
|
6.76
|
|
|
|
|
|
|
|
|
|
Incl.
|
8.00
|
51.00
|
43.00
|
1.05
|
1.00
|
0.02
|
2.14
|
9.07
|
|
|
|
|
|
|
|
|
|
|
358.00
|
504.00
|
146.00
|
0.30
|
0.24
|
0.04
|
0.48
|
11.66
|
*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). Drilling data to date is insufficient
to determine true width of the mineralized zone. Composites are
determined using a notional 0.20 g/t AuEq cut-off, a maximum of ten
meters of internal dilution for porphyry-style mineralization and
no top cut is applied.
|
Cliff-Miles Porphyry Corridor Geology:
For the first time, the Company drilled three oriented core
holes which are used to help measure directional properties in rock
and is routinely utilized to measure features such as bedding,
fractures, and veins. This technique helped the Company constrain
the geometries of the faults, porphyry intrusions and
lithostratigraphic units. The latest 3D modeling and interpretation
of the 2021 drilling assays have revealed that the overprinted gold
mineralization discovered near surface offers significant upside
potential for the Company and future exploration programs.
The entire 4 km-long Cliff-Miles porphyry corridor is now
divided into 4 sub-blocks characterized by similar patterns of
alteration and mineralization all along the plutonic rocks and
east-dipping Hazelton Group rocks. The feeder (trunk) zone to the
west and multiple horizons of gold-rich mineralization are
constrained along the early medium porphyry ("MP") dikes and sills.
The late-mineral porphyry ("CP") exists as a singular dike on the
Western-most margin of the system; however, KH21-40 and previous
drill holes intersected a second CP dike on the East, suggesting
the presence of additional well-mineralized porphyry dikes and
sills to the East and at depth.
Miles Block
The northernmost Miles Block is
identified as a half-graben structure where drill hole KH21-45 cut
a substantial intercept of gold-rich mineralization highlighted by
220.7 m of 0.43 g/t AuEq
including 43 m of 1.05 g/t
AuEq. (Click to View Miles Block Cross Sections). The
gold-rich mineralization in KH21-45 is associated with highly
silicified limey siltstone, sandstone and stockwork fractured
porphyry intrusions confirming a 600
m vertical extent of the gold zone, discovered in KH20-37,
which returned 1.21 g/t Au over 32
m within a broader intercept of 0.68 g/t Au over
83 m. (See News Release
February 10th, 2021). The
gold zone at this block is ~150 m wide and remains open to the
north for another 500 m where
historic drill holes and trench samples assayed 0.5 to
2.5 g/t Au confirming the vertical and lateral
continuation of the gold zone to be tested in follow-up
programs.
Block-3
The porphyry intrusions in the central Block-3 were emplaced
along the curviplanar Adam Fault to the west. The later epithermal
gold overprint (characterized by 0.49 g/t AuEq over
22.1 m in KH21-40 and 0.63
g/t AuEq over 30.0 m in
KH21-42) is associated with the syn-mineral faults and
bedding-parallel permeability in the east-dipping Hazelton Group
host rocks. KH21-42 intersected the deepest known Quartz A-Vein
stockwork mineralization to date, running 0.36 g/t AuEq over
208.0 m, and leaves it open to
depth, along strike to the south and southwest where drill hole
KH20-34 intersected 1.13 g/t AuEq* over 54 m within a broader interval of 0.64 g/t
AuEq over 141 m
(Click to View Block 3 Cross Sections).
Block-2
Block-2 is expanded to the east where KH21-39 and KH21-40
drilled broad intercepts of gold mineralization including
84.9 m of 0.27 g/t AuEq
and 177.25 m of 0.34 g/t
AuEq respectively. Both holes intersected multiple sub-parallel
porphyry sills varying in thickness from meters to hundreds of
meters extending eastward from their feeder dykes. The feeder dykes
to the west are represented by typical porphyry style
mineralization as intersected in KH20-36, which returned
490.8 m of 0.33 g/t
AuEq, including a 56 m
zone of 0.50 g/t AuEq. (Click to View Block 2 Cross
Sections).
Block-1
Block-1 defines the southern tip of the graben structure
truncated by an east-west sinistral fault. This block is dominated
by multiple crosscutting Coarse-Porphyry ("CP") and Medium-Porphyry
("MP") dikes characterized by relatively higher-grade copper-gold
mineralization. The best intercepts reported from this block (i.e.,
115.0
m of 0.81 g/t AuEq in
KH18-16 and 90.0 m of 0.80 g/t
AuEq in KH17-08) are from within the Medium-Porphyry
("MP") stock which remains open at depth and along strike (Click to
View Block 1 Cross Section).
Future Exploration Plans
The very encouraging 2021 results has led to a ramped-up
exploration plan for 2022. Early-stage planning envisages an
extensive program of closely spaced holes to define the near
surface gold targets and simultaneously evaluate the high-grade
porphyry copper-gold targets at depth.
Building on the assay results and latest 3D modeling, Metallis'
technical team is currently evaluating the morphology and
distribution of the well-mineralized bodies in each structural
block. The on-going 3D Voxel modeling of the IP and ZTEM
resistivity anomalies is being used to help with generating
additional drill targets focused on the depth potential of the
porphyry system, already tested down 600
m from surface.
QAQC and Analytical Protocols
Metallis has implemented a rigorous quality assurance / quality
control (QA/QC) program to ensure best practices in sampling and
analysis of diamond drill core and surface rocks and soils. The
drilling samples including 1-3 m
intervals of HQ and NQ drill core were delivered to ALS Global prep
facilities in Terrace and
Langley BC, where the samples were
crushed to 70% pass 2mm fraction, and then a 250g split was
pulverized to better than 85% passed a 75-micros screen. The
geochemical analyses were performed by ALS Global in Vancouver using multi-element 4-Acid digest
ICP-MS package (ME-MS61). Gold was analyzed by fire assay technique
Au-ICP21. Gold grades ≥10 g/t were analyzed by fire assay and
gravimetric finish. In addition to the internal QAQC program by
ALS, Metallis inserted 10% lab certified standards, field blanks
and duplicates into the overall sampling stream.
ALS is a global testing, inspection and certification business
and is an ISO/IEC 17025:2005 accredited laboratory independent of
the Company.
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 Newcrest Mining's newly acquired 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
region. 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
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,
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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'
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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
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