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Metallis Resources Inc.
Summary
| Project: | Kirkham | |
|---|---|---|
| Deposit: | Cole | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-11-2018: Metallis Resources Inc. announces an Exploration/Drilling Update report for its Cole deposit at the Kirkham project. Drilling results incl. 7.7m @ 166.7ppm Cu, 11.18g/t Au from 57.3m. VANCOUVER, Nov. 29, 2018 /CNW/ - Metallis Resources Inc. (T | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Dupre (Not stated) | |
| ABSTRACT: | VANCOUVER, Nov. 29, 2018 /CNW/ - Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) (the "Company" or "Metallis") is pleased to announce the second set of assay results from the Company's 2018 drilling program at its 100%-owned Kirkham Property in the prolific Golden Triangle of northwest British Columbia. The first ever drill program at the Cole and Nina targets totalled 1,645 meters ("m") of diamond drilling and resulted in the discovery of two new porphyry systems. The drilling assays at the Cole target also included the discovery of a high-grade gold zone containing 11.18 g/t Au over 7.7m including 137 g/t Au over 0.6m. The Cole target is represented by a north-south trending dike swarm of HM intrusions and hydrothermal breccias within a (1000m x 800m) zone of sericitic alteration with intense gossans and Cu-oxides correlated with historic litho-geochemical values ranging from 0.2% to 5.0% Cu and up to 20.7 g/t Au. The first pass drilling at Cole demonstrates that the HM porphyry dikes transition outward into gold-bearing massive sulphide and epithermal sheeted veins to the West and additional porphyry potential to the East (See Figures 1 & 2). The 137 g/t gold intercept from KH18-19 is associated with a massive sulphide pyrrhotite-pyrite vein adjacent to the Hawilson Monzonite as part of a late stage hydrothermal event. This high-grade gold vein is open in all directions and is correlated both structurally and geochemically to a massive sulphide vein, 300m down dip in KH18-18 (See Fig 3 - cross section). The high-grade gold veins in KH18-19 are similar to the Intrusion-Related Au Pyrrhotite Veins found in Snip gold mine, which produced 1.1 million ounces of gold at an average grade of 27.5 g/t from 1991 to 1999. (MINFILE (2015): Snip, 104B 250; BC Ministry of Energy and Mines) | |
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