METALLIS COMPLETES GEOPHYSICAL SURVEY AT GREYHOUND, IDAHO
VANCOUVER, BC, Aug. 14, 2025 /CNW/ - Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) Metallis Resources Inc. (the "Company" or "Metallis") is pleased to announce the completion of a high-resolution drone magnetic survey at its optioned Greyhound Property (the "Property"), located in central Idaho. This marks the first geophysical program ever undertaken at the Property and is a major step forward in preparation for the upcoming drill program.
The 298 line-kilometer survey was completed by Pioneer Exploration Consultants Ltd., a leading provider of UAV-based geophysics. Interpretation was conducted by consulting geophysicist Jules Lajoie, who identified key structural features and magnetic contrasts that will help refine priority drill targets in future programs.
Fiore Aliperti, Metallis' President and CEO, commented, "The completion of our first geophysical survey at Greyhound represents a significant step in advancing the project toward its inaugural drill program. The drone magnetic data has provided valuable insight into the structural framework of the property, including the continuity of the Greyhound shear beneath overburden, the identification of multiple parallel shears, and a magnetic anomaly coinciding with the high-grade 1350' shoot. This information is being integrated with our geological and geochemical datasets to refine and prioritize drill targets. With field preparations underway, we are positioned to begin testing these targets for the first time in the property's history."
Survey Results:
- New magnetic data outlines the Greyhound shear in areas of overburden and identifies multiple parallel shears to be investigated during the upcoming program;
- Significantly, a notable magnetic anomaly coincides with the high-grade 1350 shoot in the Lower Rufus adit (See news release dated May 21, 2025);
- A newly identified north-south linear fabric in the data appears to demonstrate controls on mineralization where it intersects the Greyhound shear;
- Breaks in linear magnetic features have been identified as possible faults and areas of increased fluid flow. Where they overlap with soil anomalies, they represent prospective future targets; and
- Correlation of the magnetic data with the geological model has helped distinguish multiple dykes and geological features that will aid in drill-hole planning.
Next Steps
The geophysical data will play a key role in refining and ranking drill targets along the 3.5 km-long shear zone, which we expect to drill later this month. Interpretation and integration with multiple geochemical and structural datasets will help refine drill collar locations. Additionally, follow up soil sampling and geological mapping will be prioritized in areas where magnetic data demonstrates structural and mineralized characteristics.
Drilling is set to begin mid-August with 2,000 m planned across 6 to 8 drill pad locations. A camp is currently being built on site and final preparations are being made for the first ever drill testing on this advanced project.
About the Greyhound Property
In February 2024, the Company optioned the Property which is located in Custer County, Idaho, approximately 42 km northwest of the town of Stanley and 35 km south of Perpetua Resources' Stibnite Mine. The Property was the center of an active silver mining camp in the early 1900's and at one point contained a smelter and two active mines situated along the 3.5 km Greyhound shear.
The Greyhound targets are hosted by prominent shear zones with polymetallic quartz - sulphide veins containing elevated concentrations of gold, silver, antimony, lead and zinc. They are comparable to numerous mines in North Idaho's Silver Valley along Interstate 90. This famous district is one of the most prolific silver districts in the world. The total quantities produced are impressive: over a billion ounces of silver, 3 million tons of zinc, and 8 million tons of lead totaling over $6 billion in value, ranking the Silver Valley among the top ten mining districts in world history.
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 Metallis
Metallis Resources Inc. is a Vancouver-based company focused on the exploration for gold, copper and silver on its flagship 100%-owned Kirkham Property in Canada, situated in northwest British Columbia's Golden Triangle, and on the Greyhound Property, a gold/silver/antimony target in Idaho, USA.
Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt Stock Exchange, and has 84,680,003 common shares outstanding.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director
Web: www.metallisresources.com
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SOURCE Metallis Resources Inc.
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