VANCOUVER, BC, Oct. 22,
2024 /CNW/ - Metallis Resources
Inc. (TSXV: MTS) (OTCQB: MTLFF) (the "Company" or
"Metallis") announces that a 2nd Phase field exploration
program (the "Program") is currently underway at the Company's
Greyhound Property (the "Property"), following up on several
high-priority showings identified during the inaugural field
exploration program this past summer. These showings returned
multiple high-grade antimony assays along with high-grade silver,
gold, lead, and zinc. (See news release September 17, 2024).
The Company also announces that members of the Metallis
executive team (the "Team") will be attending the Boise Mining
Conference October 28-29, with the
goal of establishing working relationships with key stakeholders
across government, interested public organizations, local
communities, and industry. These relationships will be critical in
expanding Metalllis' exploration work, and specifically the
antimony potential that the Company has uncovered on the Greyhound
Property. The team encourages both new and existing investors
attending the conference to contact the Company to arrange a
meeting, subject to availability.
Fiore Aliperti, Metallis' CEO and
President, commented, "As we look to build on our inaugural
program, this next phase of exploration at Greyhound provides a key
step in advancing this precious and critical metal project to the
drilling stage. Results from the first phase of work have delivered
robust antimony/silver/gold numbers and have highlighted several
excellent showings that the team is keen to further test." he went
on to add, "We are excited to be attending the Boise Mining
Conference, where we'll have opportunities to engage with investors
and establish partnerships with key stakeholders from government
and industry, with a focus on advancing critical metal potential.
Establishing these connections is crucial as we advance
Greyhound".
Key Highlights:
- Planned field work includes focused structural mapping, soil
sampling, and follow-up rock sampling at the high priority
showings; and
- Sampling of historic concentrate (provided by the property
owner) will be analyzed to aid in metallurgical understanding and
provide antimony assays from the underground workings
Phase-Two Program Goals:
With positive results returned from the Company's inaugural
field exploration program, the geological team has been tasked to
advance several high-priority showings to a drill ready stage.
Further structural analysis and geological mapping will take
place at the most advanced targets such as the 1350', Bulldog and
Birdie. This will enable drill targeting as the team identifies the
cross structures and orientation related to the mineralized shoots.
At the newly discovered Akita showing, further work will outline
its size and grade as the team is excited about the initial
sampling in the area. Additionally, further soil sampling will be
completed at narrower intervals of 100
m spacing between the previous soil lines as it has proved
to be an efficient technique in discovering new mineralization on
the Property.
Mining Conference:
The Boise Idaho Mining Conference will bring together a
multitude of key partners in the Idaho mining community including drilling and
other key subcontractors, local government, mineral exploration
companies and major mining firms. Attending the conference provides
an important step in solidifying the Greyhound as a key project in
the Idaho silver/gold space as
well as the highly sought after antimony market (Click HERE to
view recent article on Reuters). The team will be establishing
working relationships with environmental groups, the local
community, governments and the US Department of Defense, which has
recently invested in critical minerals including antimony. Two
primary objectives are the creation of partnerships with interested
stakeholders in the antimony market and building relationships with
key mining and drilling subcontractors.
About the Greyhound Property
The Company acquired the Greyhound Property located in
Custer County, Idaho,
approximately 42 km northwest of the town of Stanley, in February
2024. The Company entered into an option to earn a 100%
interest in Greyhound with staged payments and exploration
expenditures over a ten-year period of US $670,000 and US $10,000,000, respectively. Full terms are
disclosed in the annual and quarterly financial statements filed in
2024 and in a press release from the signing of the agreement on
February 27, 2024. This 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 a 3.6 km mineralized shear zone. Since 1910, the property has
seen limited exploration and only minor development when the
Greyhound Mine was reactivated and mined sporadically from
1980-1991. The last remaining ore from this period was shipped to a
smelter in 2000 and the property remains substantially
underexplored.
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.
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
because of numerous 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.sedarplus.ca. 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.
