VANCOUVER, BC, April 7,
2022 /CNW/ - Metallis Resources
Inc. (TSX-V: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the
"Company" or "Metallis") reports initial results from its 2021
property-wide Z-Axis Tipper Electromagnetic Survey ("ZTEM" or "the
Survey") at its 100%-owned Kirkham Property (the "Property"). The
Property is situated in the prolific Eskay
Camp of the Golden Triangle, 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.
Nickolas Dudek, Metallis' Chief
Geologist, stated "The widespread and deep-penetrating ZTEM survey,
paired with Metallis' existing geologic and geophysical knowledge,
has given us an enhanced view of the Property's potential. The
Hawilson Monzonite has a distinct resistivity/conductivity pattern
derived from its large-scale structural setting and that signature
will further guide exploration and help generate additional targets
across the Property in the future."
Survey Highlights
- The 2021 ZTEM survey has delineated a distinctive resistivity
signature related to the mineralized Hawilson Monzonite;
- The Survey demonstrates that the mineralization-controlling
structure continues far below the Company's deepest drill hole and
further to the north into undrilled areas of the Hawilson
Monzonite; and
- The survey results will help fine-tune the 2022 drill and
soil/mapping targets.
The western (higher altitude) parts of the Property exhibit
elevated resistivity due to the unconformably overlying Hazelton
Group. The eastern region shows a lower resistivity signature
related to the exposed and underlying Stuhini Group (Click Here to
View Figure 1). The entire package of rocks is gently folded with
the anticlinal axes outcropping in the valleys, exposing more
Stuhini and accentuating the low resistivity "creep" up the creeks
and rivers.
The ZTEM survey at Cliff-Miles (See Figure 1) shows a distinct
4-km long resistivity low that cuts through the high-resistivity
Hazelton, interrupting the general
trend. This anomaly is sub-parallel to, and originating from, the
Adam Fault and the low-resistivity Stuhini footwall and the
large-scale orientation of the mineralized Hawilson Monzonite.
ZTEM cross sections (Click here to View Figure 2) better show
the break in the overlying Hazelton and how it relates to the Adam Fault
and footwall. This break, a potentially eroded-down and faulted
anticlinal axis, is tied to the emplacement of the Hawilson
Monzonite, its porphyry phases, and the later epithermal overprint.
This ZTEM signature can be used as a template for further regional
exploration on the Property.
On a more local scale, the resistivity "highs" are coincident
with zones of silicification and gold mineralization, suggesting
further potential to the East (Click here for Figure 3 and
here for figure 4). The resistivity low, which bleeds across the
well-constrained Adam Fault, leaves room for additional drilling of
the Hawilson Monzonite at depth.
Future news releases will highlight anomalous ZTEM responses
similar to that from the Hawilson Monzonite and others such as
Thunder North.
About the Survey
The Survey, conducted by Geotech Ltd., comprised a total of 879
line-kms of ZTEM and magnetometer data collection and covers most
of the 106 sq. km Property. Areas of coverage can be viewed in
Figure 1 (Linked above). Additionally, the Survey extended a short
distance onto adjacent lands held by Garibaldi Resources Corp. to
the north and Eskay Mining Corp. to the east.
Z‐Tipper Axis Electromagnetic (ZTEM) is an airborne
electromagnetic survey system that measures variations in the
naturally occurring electromagnetic properties of rocks produced by
thunderstorms around the world. This magnetic field is planar –
constant in all directions – but areas of highly conductive or
very resistive rock will cause measurable disruptions.
Highly resistive or highly conductive rock types can include ore
deposits, faults, and alteration zones. ZTEM surveys are designed
to map resistivity/conductivity contrasts to great depths,
exceeding 1-2 km, making ZTEM well-suited to finding
porphyry-hosted and structurally controlled exploration targets at
depth.
The survey data was analyzed and interpreted by Company
Geophysicist Jules Lajoie who generated a 3D resistivity voxel that
the geological team used to correlate the resistivity features with
the geological setting.
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 while the eastern border is 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
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SOURCE Metallis Resources Inc.