Key updates:
- A total of 44 rock samples were collected, with results up to 4590 g/t Ag and an impressive silver grade that averaged 504 g/t Ag across all samples.
- Remarkable gold assays up to 18.15 g/t validate the underappreciated gold benefit at this historic silver mine.
- The Company recently attended the 2024
Idaho Mining Conference and engaged with drilling companies, social governance professionals, government officials and multiple technical experts to aid the advancement of the Greyhound project; and - Soil sampling defined several large multi-element soil anomalies that envelope all of the promising prospects. Together with geological mapping and rock sampling has prioritized the Birdie, the Bulldog and the 1350' zone as the initial focus for drill targeting.
Rock sampling results
Rock sampling was completed at known showings to help validate the structures that contain elevated silver, gold and antimony and further refine the mineralized zones. A total of 44 rock samples returned significant silver assays and impressively gold grades (See Map 1 Below) that point to high-grade gold potential which appears to have been overlooked historically. Sampling was focused on The Birdie, The Bulldog and the Akita. Two grab samples and two concentrate samples taken historically from underground at the high-grade 1350' zone were delivered by the property owner and sampled during this program, although those assays are pending.
The Bulldog provides one of the most developed targets on the property with sampling from this program returning very elevated assays from a specific high-grade vein. This 10 to 20 cm vein outcrops at surface for 13m and returned silver assays up to 3360 g/t with an average silver grade of 1624 g/t. This vein occurs within a wide shear zone that returned strong grades from the previous chip-sampling program. Gold grades from 0.14 to 1.09 g/t were also present along with base metals grades averaging from 1% to 5%. See table below of the 4 rock samples from this vein.
At the Birdie target where two trench cuts are located 70 m along strike from each other, significant gold and silver results were also returned. At the Upper Birdie, the highest silver grades from this program returned a significant 4900 g/t Ag from an 80 cm angular boulder dug up from the historic trenching. Gold grades were also substantial at the Upper Birdie (See Map 2 Below) with the 7 samples averaging 3.0 g/t Au. At the lower Birdie, a rock sample taken from a 50 cm quartz sulphide vein returned 18.15 g/t Au and 6 out of 7 samples were above 1.8 g/t Au. These elevated gold results from the Birdie highlight the substantial gold grades at this target.
Rock grab sampling around the newly discovered Akita showing also highlights a new zone 200 m to the north of the Akita. Two samples returned 5.0 and 7.3 g/t Au Eq* and are located in the northern part of a newly established soil anomaly. At the Ridge Cut, two more grab samples from the spoils pile returned 1280 and 1740 g/t Ag respectively. Further work at the 1350' surface trench returned 2 grab samples of 5.5 and 8.6 g/t Au Eq*.
Soil sampling results
Soil sampling during this program was focused on extending coverage and further defining known targets including the Birdie, Bulldog, and Akita. A total of 129 soils were collected across 8 selected lines (See Map 3 below) taken perpendicular to the strike of the Greyhound Shear. Results demonstrated strong anomalies in silver, zinc, lead and gold. A new extension to the Akita soil anomaly, 300 m east of the mapped Greyhound shear, further validates the strength of the mineralization around Akita (a new discovery this year) and demonstrates the potential of other parallel, underexplored shears. Zinc soil anomalies provide the best pathfinder element for identifying silver mineralization and highlight a 600 m long by 200 m wide anomaly around the Birdie and the 1350' zone. At the Akita, a 300 m long by 200 m wide zinc anomaly has been outlined and, at the Bulldog, the highest silver grade soil samples were returned.
A Metallis delegation of
Qualified Person
QAQC
All the rock samples were kept under the control of Metallis staff until they were delivered directly to the ALS sample preparation facility in
- ME-MS 41: Ultra Trace Aqua Regia ICP-MS.
- ME-GRA21: Au, Ag 30g Fire Assay – Gravity Finish
- Pb-OC46: Ore Grade Pb – Aqua Regia
- Zn-OC46: Ore Grade Zn – Aqua Regia
- Sb-ICP08: Sb – KCl/HCl digestion ICP-MS
- As-OC46: Ore Grade As – Aqua Regia
Soil samples were collected predominantly of B horizon at predetermined locations across the property. Once at the lab, samples were dried and crushed to 80 mesh (prep 41) before analysis by the Ultra Trace technique. Gold Analysis was completed by aqua regia digestion with a 25g aliquot (AuME–TL43).
Reference Information:
A grab sample is taken from a rock outcrop that is being assessed for the presence of valuable elements. While taking the grab sample, the best-looking rock is chosen. Grab samples are by definition selective. Grab samples are solely designed to show the presence or absence of mineralization and are not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project.
Chip sampling involves taking contiguous rock chip samples along a line to define the width and grade of a zone. Commonly, these are taken perpendicular to the strike of the mineralized zones
*Gold and Silver equivalent values are derived from the following prices in USD; Au
About the Greyhound Property
The Company acquired the Greyhound Property located in
About Metallis
Metallis trades under the symbols MTS on the
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director
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