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Metallis Announces Expansion of Mineralized Hawilson Monzonite, Drill Targets Identified and 2% NSR Purchase
Metallis Announces Expansion of Mineralized Hawilson Monzonite, Drill Targets Identified a...
About this update from Metallis Resources Inc.
[{"type":"text","content":"\n\n\n\nMetallis Announces Expansion of Mineralized Hawilson Monzonite, Drill Targets Identified and 2% NSR Purchase\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, July 20, 2018\n\n\n\nVANCOUVER, July 20, 2018 /CNW/ - Metallis Resources Inc. (TSX-V: MTS) (\"Metallis\" or the \"Company\") announces positive results from its 2018 Phase 1 exploration program (the \"Program\") and has planned the first of two drilling campaigns on its 100%-owned Kirkham Property (the \"Property\"), prospective for multiple deposit types in the prolific Eskay camp of northwest British Columbia. \n\n\n \n \n\n \nIn addition, the Company confirms it has completed the purchase of a pre-existing 2% net smelter return (\"NSR\") royalty, securing 100% unencumbered ownership over several critical target areas of the Property, including the entire 7km length of the Hawilson Monzonite (\"HM\") which contains the Cole, King, Nina, Natt and Cliff targets. The NSR was purchased under a Right of First Refusal for US$300,000.\n\nExploration Program Highlights:\n\n\nDetailed mapping has extended the mineralized HM from ~6km to a strike-length of greater than 7km with an average width of ~350m, enhancing the volume potential of the porphyry copper-gold mineralization along this NS-trending corridor (click here to see map).\nThe Cole prospect is identified as a much wider (~450m), well preserved porphyry copper-gold system with geological features (i.e. geometry, potassic alteration, veins and sulphides) similar to Seabridge Gold's Kerr deposit located ~25km to the east of the Kirkham Property. The historic geochemical sampling results in rocks range from 0.2% to 0.5% Cu and up to 20.7 g/t Au at the Cole prospect - supporting the presence of a gold-rich system.\n2018 exploration to the north of the Cole prospect discovered two angular blocks of monzonite with pervasive phyllic alteration, silification and pyrite-bornite mineralization, a grab sample of one assayed 1.39% Cu and 26.6 g/t Au.\nResults from field mapping along with the interpretation of the new geophysical and ...