VANCOUVER, BC, July 17,
2024 /CNW/ - Metallis Resources
Inc. (TSXV: MTS) (OTCQB: MTLFF) (the "Company" or
"Metallis") is pleased to announce the commencement of the
Company's inaugural field exploration program (the "Program") on
the Company's recently acquired Greyhound property ("the
Property"), a high-grade silver/gold/antimony project within an
historic mining camp, located in Idaho,
USA. The geological field team has been tasked with the
evaluation of high-grade mineralized zones at several known
showings, and to identify new areas of high-grade mineralization
throughout the Property, including the 3.6 km Greyhound shear zone
and several other historic showings.
The Program will include the use of modern exploration
technologies such as a portable X-Ray Fluorescence (XRF)
spectrometer to support immediate on-site analysis alongside more
traditional activities like rock/soil sampling, geological mapping,
and trenching, all of which will play a key role in identifying
potential drill sites and expanding the understanding of the
mineralized zones. The team is currently working alongside the
property owner (See image) who has held the property for 40 years
and has an intimate knowledge of the areas of historical work and
areas offering the highest mineral potential. Results from the
Program are expected to drive a planned drilling campaign to be
conducted later in the 2024 season.
Fiore Aliperti, Metallis'
President and CEO commented, "It's fantastic for us to announce the
start of our 2024 work programs at Greyhound. The team has been
anxious to get boots on the ground since we completed the property
option agreement and started the data evaluation process.
Exploration efforts will focus on both existing sites with historic
mining activity and underexplored areas which offer the potential
of new exploration targets. We are well-prepared to leverage our
technical expertise and apply modern exploration methods to advance
our understanding of the Greyhound property's mineral potential. We
look forward to seeing results and confirming drill targets."
About the Greyhound Property
The Greyhound Property is in Custer
County, Idaho, approximately 42 km northwest of the town of
Stanley. In February 2024 the Company entered into an option
to acquire a 100% interest in the Property. 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 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 from 1980-1991. The last remaining
ore from this period was shipped to a smelter in 2000 and the
property remains substantially unexplored.
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 recently acquired
Greyhound Property, a silver/gold/antimony project 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 currently has 68,455,003 common shares issued
and outstanding.
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.