METALLIS KICKS OFF 2025 EXPLORATION SEASON AT GREYHOUND PROPERTY, IDAHO
VANCOUVER, BC, July 8, 2025 /CNW/ - Metallis Resources Inc. (TSX-V: MTS) (OTCQB: MTLFF) (the "Company" or "Metallis") is pleased to announce the commencement of the company's 2025 exploration program with the first ever geophysical survey at its Greyhound Property (the "Property") in central Idaho. The high-resolution drone magnetic survey (the "Survey") will identify and refine targets in advance of the Company's planned summer 2025 drill program. A total of 298 line-kilometres will be flown over the entire property with the resulting data expected to further delineate structural controls associated with known mineralization. The Property hosts multiple high-grade silver-gold-antimony prospects within the historic Stibnite Mining District, a prolific region in Idaho known for antimony production. Mineralization at Greyhound is associated with a 3.5 km-long shear zone featuring multiple historic adits and which remains untested by modern drilling or geophysics.
Dave Dupre, VP of Exploration for Metallis, commented "We're very excited to kick off the 2025 exploration season with the first ever geophysical survey at the historic Greyhound Property. Building on 125 years of previous prospecting and historic mining, this marks a major milestone in advancing the Property through the application of modern exploration techniques. With three priority drill targets already outlined and several other zones under evaluation, the survey will help us better understand the structural architecture that controls the mineralization. This work will both significantly expand our knowledge across untested parts of the Property and aid in refining the existing drill targets." Dupre added "With antimony prices remaining highly elevated and precious metals hovering near all-time highs, the timing is ideal to aggressively advance this highly prospective asset."
About the Survey
The drone magnetic survey is being conducted by Pioneer Exploration Consultants Ltd., a global leader in UAV-based geophysical services. The survey, totaling 298 line-km, will consist of high-resolution magnetic data collected at 25 m line spacing flown perpendicular to the known mineralized shear zone (See map below). Results from recently completed rock geophysical testing demonstrates that the mineralized material displays anomalous magnetic susceptibility values helping distinguish different rock types and mineralized zones (See Metallis News Release dated February 13, 2025). Key objectives of the Survey include:
- Identifying cross-cutting structures or faults that may host new high-grade shoots and support future drill targeting;
- Tracing the Greyhound shear zone beneath overburden to identify magnetically destructive alteration patterns associated with mineralization;
- Exploring previously untested terrain for parallel shear zones, similar to those observed at the Birdie and Akita showings.
The results will also be used to guide any future Induced Polarization surveys along with a drill program planned for summer 2025.
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 Au, Ag, Sb, Pb and Zn. 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
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SOURCE Metallis Resources Inc.
For further information: Tel: 604-688-5077, Email: [email protected], Web: www.metallisresources.com
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