Metallis Resources Advances with Geophysical Survey Results

Metallis Resources Completes Geophysical Survey

Metallis Resources Inc. is excited to announce the successful completion of a high-resolution drone magnetic survey at its Greyhound Property. This property sits in the heart of Idaho and marks a pivotal moment as it represents the first time a geophysical program has been conducted here. The survey is an essential step toward preparing for the upcoming drilling operations.

Details of the Survey

The comprehensive survey spanned 298 line kilometers and was carried out by Pioneer Exploration Consultants Ltd., a well-known name in UAV-based geophysics. Expert geophysicist Jules Lajoie provided valuable insights during the interpretation phase, identifying key structures and magnetic features that will assist in refining priority drill targets for upcoming exploration programs.

Comments from Leadership

Fiore Aliperti, President and CEO of Metallis, expressed enthusiasm regarding the results of the survey. He stated, "Completing our first geophysical survey at Greyhound marks a significant milestone in advancing this project towards its inaugural drill program. The drone's magnetic data has unveiled crucial insights into the property's structural makeup, including the continuity of the Greyhound shear and multiple parallel shears, alongside a notable magnetic anomaly linked to the high-grade 1350’ shoot. This data will enhance our geological and geochemical integration, allowing us to pinpoint and prioritize drill targets as preparations for fieldwork begin."

Key Findings from the Survey

The magnetic survey revealed several important features, including:

• New magnetic data outlining the Greyhound shear in regions of overburden and identifying several parallel shears, which will be a focus in the next program.
• A significant magnetic anomaly that corresponds to the high-grade 1350 shoot in the Lower Rufus adit.
• The identification of a new north-south linear fabric in the data that appears to influence mineralization where it intersects the Greyhound shear.
• Potential faults and areas of increased fluid flow indicated by breaks in linear magnetic features, which may coincide with soil anomalies, offering prospective future targets.
• A strong correlation between the magnetic data and the geological framework that highlights various dykes and geological characteristics crucial for planning drill holes.

Next Steps Following the Survey

The data collected will be instrumental in refining and ranking drill targets throughout the 3.5 km-long shear zone slated for drilling soon. The integration with additional geochemical and structural datasets will greatly assist in determining the best locations for drill collars. Soil sampling and geological mapping will also be prioritized in areas where magnetic data has indicated structural and mineralized traits.

The drilling program is anticipated to commence soon, with plans to drill 2,000 meters across 6 to 8 sites. Preparations are already in the works for this unprecedented drill testing.

Overview of the Greyhound Property

The Greyhound Property was optioned by Metallis in February and boasts a rich history, having once been a hub of silver mining in the early 1900s. Situated in Custer County, the property features significant shear zones containing polymetallic quartz-sulphide veins rich in gold, silver, antimony, lead, and zinc, making it comparable to several prominent mines within North Idaho's Silver Valley, which is renowned for its prolific silver production.

About Metallis Resources Inc.

Metallis Resources Inc. is a Vancouver-based exploration company focused on discovering gold, copper, and silver, primarily on its flagship 100% owned Kirkham Property and the Greyhound Property in Idaho. Metallis is actively traded under the ticker symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB, and 0CVM on the Frankfurt Stock Exchange, with 84,680,003 common shares outstanding.

Frequently Asked Questions

What is the significance of the geophysical survey at Greyhound?

The survey is critical as it is Metallis' first-ever geophysical program at the Greyhound Property and aids in determining strategic drill targets for future exploration.

How does drone technology enhance the survey process?

Drone technology allows for high-resolution data collection over extensive areas, providing detailed insights into the geological features that are not easily accessible.

What are the next steps for Metallis following the survey?

Metallis plans to refine drill targets based on the survey's data and begin a drilling program that involves 2,000 meters across multiple locations.

What minerals are present at the Greyhound Property?

The property contains significant deposits of gold, silver, antimony, lead, and zinc, hosted in polymetallic quartz-sulphide veins.

Who are the key figures at Metallis Resources?

Fiore Aliperti serves as the President and CEO, while David Dupre, P.Geo, is the Vice President of Exploration, overseeing technical information and project direction.

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