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."
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.
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.
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
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SOURCE Metallis Resources Inc.
For further information: Tel: 604-688-5077, Email: [email protected], Web: www.metallisresources.com