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Metallica Metals Reports Gold and Silver Assay Results Including 2 g/t Au Over 8.4 m at Powell Zone and 2 g/t Au & 4.8 g/t Ag Over 3.1 m in Starr Central Zone

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VANCOUVER, British Columbia, April 21, 2022 (GLOBE NEWSWIRE) -- Metallica Metals Corp. (CSE:MM) (OTCQB:MTALF) (FWB:SY7P) (the “Company” or “Metallica Metals”) is pleased to announce further assay results from diamond drill holes STR21-005 to STR21-015 on its Starr Gold-Silver Project (“Starr” or the “Project”) in the Thunder Bay Mining District of Ontario, Canada. The Project, which the Company has the right to earn up to a 100% interest from Benton Resources Inc. covers a large land position (5,991 ha) that includes several high-grade gold and silver occurrences within a 20 km long segment of the southwestern section of the Shebandowan Greenstone Belt (Figure 1).

Highlights:

  • Drill holes STR21-005 and STR21-006 were collared in the Starr Central Zone near drill holes STR21-001 to 004. Drill holes STR21-013 to STR21-015 were collared 200 to 300 m north and south of the main Starr showing as step-out holes. STR21-015 reported high-grade gold and silver mineralization of 3.1 m at 1.98 g/t Au and 4.83 g/t Ag from 55 m depth including 1.2 m at 3.83 g/t Au and 9.76 g/t Ag.
  • Drill holes STR21-007 to STR21-012 were collared in the Powell Zone located approximately 750 m south-east of the Starr Central Zone. These were the first holes drilled into the Powell Zone by Metallica Metals. The Powell Zone has been the subject of historical work including on the Powell vein discovered in 1934. Since then, three small surface blast pits were excavated at surface to shallow depths, attesting to the fact that high-grade gold exists in the area. The drill holes were planned to test the continuation of the vein and associated mineralization at depth below these blast pits.
  • Some excellent metal factors (g/t Au x m) have been uncovered with the highest being a factor of 16.78 from the intercept 2.01 g/t Au over 8.35 m in hole STR21-010.
  • Significant assay intercepts include (full results shown below in Table 2):

STARR CENTRAL ZONE

STR21-006

  • 0.56 g/t Au over 11.05 m from 10.95 m downhole including 2.34 g/t Au over 2.2 m and 4.57 g/t Au over 0.5 m

STR21-015

  • 1.98 g/t Au and 4.83 g/t Ag over 3.13 m from 55.25 m downhole including 3.83 g/t Au and 9.76 g/t Ag over 1.19 m

  • 0.65 g/t Au and 2.71 g/t Ag over 4.80 m from 133.2 m downhole including 1.95 g/t Au and 8.3 g/t Ag over 0.50 m

POWELL ZONE

STR21-007

  • 0.85 g/t Au over 2.2m from 51.4m downhole including 1.69 g/t Au over 0.6m

STR21-008

  • 1.22 g/t Au over 1.40 m from 36.9 m downhole

STR21-010

  • 0.88 g/t Au over 5.45 m from 48.2 m downhole including 1.43 g/t Au over 2.00 m and 1.82 g/t Au over 0.75 m
  • 2.01 g/t Au over 8.35 m from 69.30 m downhole including 7.17 g/t Au over 1.15 m
  • The assay results from drill holes STR21-005 and STR21-006 further confirm the lateral and shallow depth extent of gold mineralization in the Starr Central Zone and also validates nearby historical drilling results. The assay results for the Powell Zone confirm that gold mineralization exists at depth in the Powell vein below the old mine workings and that this area requires further drilling to confirm the extent of mineralization.
  • Additional assay results are expected soon from recent drilling completed in the Eastern Starr area. A total of 30 drill holes have been completed across the entire Starr Project by Metallica Metals.

Aaron Stone, CEO of Metallica Metals commented, “These assay results continue to confirm the extent of gold mineralization in the Starr Central Zone and also confirms gold mineralization occurs at shallow depths in the Powell Zone. The Starr Project continues to excite the Metallica Metals team and the results confirm that these areas deserve significant follow-up work. With the project also boasting favourable exploration characteristics such as ease of access, shallow overburden, and mineralized outcrop across the property, we will be looking to continue to build upon existing discoveries. We are also looking forward to receiving assay results soon from drilling completed in the Eastern Starr area”.

Figure 1: Location of Metallica Metals’ Starr Gold-Silver Project with respect to adjacent properties including the Moss Lake gold deposit (sources: 2013 NI 43-101 Technical Report and PEA for the Moss Lake Project and Kesselrun Resources October 7, 2020 news release)
https://www.globenewswire.com/NewsRoom/AttachmentNg/317cff86-0517-4be0-aded-93a2c4772ca7

Please note: The adjacent Moss Lake gold deposit hosts an Indicated Mineral Resource of 39,797,000 tonnes grading 1.1 g/t Au for 1,377,300 contained ounces of gold and an Inferred Mineral Resource of 50,364,000 tonnes grading 1.1 g/t Au for 1,751,600 contained ounces of gold, and is currently under care and maintenance (source: NI 43-101 Technical Report and PEA for the Moss Lake Project with an effective date of May 31, 2013 and filed on SEDAR under Moss Lake Gold Mines Ltd., now Wesdome Gold Mines Ltd.). Readers are cautioned that mineralization and mineral resource estimates on adjacent and/or nearby properties are not necessarily indicative of mineralization on the Starr Project (please refer to additional cautionary statements below).

Technical Overview

A summary of STR21-005 to STR21-015 and significant assay intercepts are shown below in Tables 1 and 2. Figure 2 indicates the drill hole locations in the Starr Central and Powell zones. Figures 3 and 4 also indicate the significant assay intercepts from the Starr Central and Powell Zone drill holes, respectively.

Table 1: Collar table for Starr Central Zone and Powell Zone drill holes

Hole IDTargetNorthing (m)Easting (m)Elevation (m)Azimuth (°)Dip (°)Hole Depth (m)
STR21-005Starr Central Zone5350053657595460.7290-70120
STR21-006Starr Central Zone5350072657541451.6295-6597
STR21-007Powell Zone5349736658214474.4330-45102
STR21-008Powell Zone5349758658211475.9330-60102
STR21-009Powell Zone5349753658329472.0325-45120
STR21-010Powell Zone5349812658306475.7300-45120
STR21-011Powell Zone5349842658313476.0300-45120
STR21-012Powell Zone5349762658242473.8300-45120
STR21-013South Starr5349952657604462.1285-70150
STR21-014South Starr step-out5349676657470470.5200-6092
STR21-015North Starr5350299657614461.0300-50138

Note: Approximate collar coordinates in UTM NAD83 Zone 15N

Table 2: Significant Gold Intercepts for Starr Central and Powell Zone drill holes

Hole IDFrom (m)To (m)Length (m)Grade
(g/t Au)
Metal Factor
(g/t Au x m)
STR21-00514.2016.001.800.310.56
 29.5031.001.500.490.74
 42.0043.701.700.510.87
including42.5543.050.551.240.68
 88.9089.400.500.850.43
 99.1099.600.501.290.65
STR21-00610.9522.0011.050.566.19
including10.9513.152.202.345.15
and11.5012.000.504.572.29
and20.5022.001.500.440.66
STR21-00751.4053.602.200.851.87
including53.0053.600.601.691.01
STR21-00827.0027.900.900.970.87
 36.9038.301.401.221.71
STR21-009108.00112.004.000.431.72
including111.00112.001.001.421.42
STR21-01048.2053.655.450.884.80
including48.2050.202.001.432.86
and52.9053.650.751.821.37
 69.3077.658.352.0116.78
including74.8576.001.157.178.25
STR21-01139.3039.900.600.830.50
 56.0056.500.500.470.24
STR21-01251.7552.600.851.211.03
STR21-01360.7561.250.500.660.33
STR21-01475.8577.001.150.230.27
STR21-01555.2558.383.131.986.20
including56.0157.201.193.834.56
 96.7597.300.551.270.70
 125.22125.750.530.790.42
 133.20138.004.800.653.12
including137.00137.500.501.950.98

Notes:

  1. True widths for these intervals are unknown at this time.
  2. Grades are uncut.
  3. Metal factor is defined as the gold (Au) grade in grams per tonne (g/t) multiplied by
Quebec Rare Earth Elements Corp.

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