Two IP lines were positioned to the north of last year's IP survey area with results highlighting an 800m extension (open to the north) to the previously identified, high priority Cliff and Miles anomalies. Additionally, two north-south oriented tie-lines were completed over the entire Miles copper-gold zone leading to assist the line-to-line correlation of the IP results. Additional prospective targets on the Property including Cole,
Key Highlights
- The IP survey and subsequent modelling has established a spatial association between areas of coincident moderate-to-high resistivity and chargeability to high-grade copper-gold mineralization and positive core logging indicators (chalcopyrite, pyrite and veining etc.) along a 2.5 km-long section of the Cliff-Miles porphyry corridor; (Click Here to View Typical Inverted 1,200m Elevation Level Plan)
- Both the inverted IP sections and level plans have emphasized a substantial (2,500m x 300m) coincident IP resistivity-chargeability anomaly open to the north, south, and at depth; (Click Here to View typical Inverted Section)
- Drill holes KH21-41 and KH21-42, with some of the best geologic indicators this season, have intersected transitioning zones of high-to-moderate resistivity and, locally, high chargeability;
- Drill hole KH21-44 has intersected an extensive zone of intense silicification and sulphide mineralization coincident with a transitional zone in the IP resistivity response;
- Drill hole KH21-45 is now on track to intersect one of the largest IP chargeability anomalies observed within the Cliff-Miles porphyry corridor, adjacent to the best zones of KH20-37; (See NR
March 23, 2021 ) - Previous drill testing of the Cliff and Miles anomalies identified from the 2020
IP Survey produced some of the best results encountered at the Cliff zone where KH20-34 returned 54m of 1.13 g/t AuEq* within a broader interval of 141m of 0.64 g/t AuEq*; (See news releaseMar 23, 2021 ) - KH20-37 into a zone of moderate IP resistivity and good IP chargeability at Miles returned 32.0m of 1.24 g/t AuEq* within a broader interval of 83.0m of 0.68 g/t AuEq*; (See NR
March 23, 2021 ) and - Penetrative remote sensing methods, like Induced Polarization and Z-TEM, will enable more precise targeting in future drill programs and aid in the understanding of the
Hawilson Porphyry Complex .
Although the IP results arrived late in the season, the 3D-IP anomalies have supported the design of the last two holes currently being drilled at the Miles target and will aid in future targeting.
The drill core assays, and verification are eagerly anticipated.
*Gold equivalent grades ('AuEq.") are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as no metallurgical data are available. The metal prices including:
Qualified Person
About the Kirkham Property
The wholly owned 106 sq. km Kirkham Property is located about 65 km north of
The Kirkham Property is contiguous to Garibaldi Resources Corp.'s
About Metallis
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 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.
Neither
SOURCE
© Canada Newswire, source