VANCOUVER, Sept. 20, 2018 /CNW/ - Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) ("Metallis" or the "Company") is pleased to provide the following exploration update as drilling intensifies at its 100%-owned Kirkham Property ("Kirkham") in the heart of the Eskay Camp:
- A final round of geophysics is being completed over the Thunder North target area, contiguous to the southern and eastern border of Garibaldi Resources Inc's Nickel Mountain Project, in order to prioritize nickel sulphide drill targets after a highly encouraging VTEM survey earlier in the season;
- The textures and compositions of the gabbros at Thunder North support the presence of mafic intrusive magmatism in the Hazelton stratigraphy along the western margin of the Eskay Rift;
- Six drill holes totaling 3,006 meters have expanded the Cliff copper-gold porphyry system in the southern portion of Kirkham (assays pending, Cliff remains open in all directions);
- Current drilling at Kirkham is focused on the Cole and Nina target areas, featuring additional discovery potential, up to 6 km north of Cliff. Observed copper mineralization of the drill core from both targets, combined with extensive surface sampling and mapping, has led to a rapidly evolving exploration model of a shallow-level gold-rich porphyry system and a strong epithermal gold footprint.
Fiore Aliperti, Metallis President and CEO, stated: "We've entered the most exciting part of our exploration season given the potential for new discoveries on the very under-explored northern parts of Kirkham (Thunder North, Thunder South, Cole and Nina). We look forward to initial assay results and imminent drilling at Thunder North."
Technical aspects of this news release have been reviewed and approved by Metallis Resources' V.P. of Exploration David Dupre, P.Geo. designated as a qualified person under National Instrument 43-101.
About the Kirkham Property
The 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 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 – 20 km of Seabridge Gold's KSM deposits and Pretium Resources' Brucejack 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 32,981,129 shares issued and outstanding.
2018 Venture 50
Metallis Resources Inc. was recently included in the 2018 Venture 50 (the "V50"). The V50 is a ranking of top performers on the TSX Venture Exchange last year. The ranking comprises 10 companies from each of five industry sectors selected based on three equally weighted criteria: Market capitalization growth, share price appreciation and trading volume amount. To view the V50 video click here.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President and Director
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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.
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SOURCE Metallis Resources Inc.
For further information: Tel: 604-688-5077, Email: [email protected], Web: www.metallisresources.com