Metallis commences 2019 drill program starting at Cole/Etta high-grade gold targets
VANCOUVER, Sept. 6, 2019 /CNW/ - Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) (the "Company" or "Metallis") is pleased to announce that it has commenced a 4,000 meter Phase 1 drill program at its 100%-owned Kirkham Property in northwest British Columbia's prolific Eskay Camp.
High-grade gold targets are the initial focus of Phase 1 drilling, following up on a discovery late last season when drilling intersected 137 g/t gold (Au) over 0.6 meters within 7.7 meters grading 11.2 g/t Au starting just 57.3 meters downhole at the Cole target (KH-18-19, refer to Nov. 29, 2018 news release).
Extensive mapping, VLF surveys, trenching, rock and soil sampling this summer, along with structural modeling at the adjoining Cole and Etta targets, have outlined a strongly altered 1,000 meter long by 300 meter wide zone of northeast oriented sub-parallel faults that appear to control the high-grade gold-bearing quartz sulphide veins. The zone is open for further expansion. (Click Here to View Map).
Fiore Aliperti, Metallis President and CEO commented: "From high-grade gold to nickel sulphide to gold-copper porphyry, the 106 sq. km Kirkham Property has advanced remarkably over the past two years and features strong potential to host multiple deposit types. We are vigorously testing exciting target areas covering each of those deposit types and we look forward to providing steady news flow with progress updates and results."
Corporate Update
The Company also announces the extension of its investor relations contract with Nicosia Capital Corp. expiring February 1, 2020. All terms and conditions remain the same.
Qualified Person
Technical aspects of this news release have been reviewed and approved by David Dupre, P.Geo., designated as a qualified person under National Instrument 43-101.
About the Kirkham Property
The 106 sq. km Kirkham Property totals 10,610 hectares and is located about 65 km north of Stewart, B.C., in the heart of the Golden Triangle's prolific Eskay Camp. 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 to 20 km of Seabridge Gold's KSM deposits and Pretium Resources' Brucejack high-grade gold 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 symbol MTS on the TSX Venture Exchange and currently has 34,012,129 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, 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 as a result 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 Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2019/06/c8508.html