Metallis Resources makes Golden Triangle gold discovery
Metallis Resources Inc. [MTS-TSXV; MTLLF-OTCQB] discovered a substantial gold zone at the company’s Miles target, which forms part of the larger 7.5-km long Hawilson monzonite porphyry complex (HM) at its 100%-owned Kirkham property. The property is situated in the prolific Eskay Camp of the Golden Triangle, northwestern British Columbia, a district known worldwide for the past producing Eskay Creek and Snip gold mines, Seabridge’s KSM porphyry deposits and Pretium’s producing Brucejack gold mine.
Drill hole KH20-37 intersected 1.21 g/t gold over 32 metres within a broader gold zone of 0.63 g/t gold over 83 metres associated with highly silicified limey siltstone and sandstone units proximal to the Hawilson Monzonite Porphyry intrusions. KH20-37 discovered a near surface epithermal quartz-carbonate vein breccia with semi-massive pyrite containing 1.33 g/t gold over 6 metres, including 3.97 g/t gold over 1.8 metres.
The discovery of significantly higher gold grades in sediments now expands the mineralized corridor as a very large (200m wide x 500m long and 600m deep) footwall block coincident with a prominent IP Resistivity anomaly. The dimensions of the block are open in all directions.
Metallis President and CEO Fiore Aliperti commented, “Discovery hole KH20-37 is incredibly important for the company and its shareholders. We have never been in doubt over the size potential of the Cliff and now we have added grade potential to the conversation. Significantly, this hole has confirmed the grade increases as we go deeper, a similar model with other Golden Triangle deposits in the area such as KSM and Red Chris.” he added “The high-grade gold in the footwall rocks remain open to the north and south providing huge opportunity for further high-grade gold mineralization at depth. A key focus of 2021 will be the vertical and lateral expansion of this newly discovered gold zone.”
Hole KH20-37 was part of the company’s 3,82-metre 2020 drill program focused on the southern 4-km section of the HM, a gold rich corridor known as the Cliff Porphyry System. The program was designed to test the application of Induced Polarization technologies over the HM and outline the dimensions of the silicified gold zone with higher gold grades at depth.
Refer to company press release for complete assays. Assays from the other holes are currently being analyzed, validated, and interpreted, with news to follow.