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Metallis Resources Inc. has significantly extended the gold-bearing zone within the Cliff Porphyry System at its Kirkham Property in British Columbia. The latest drill results from holes KH20-34 and KH20-37 confirm a 2 km gold-rich corridor, with KH20-34 recording 1.13 g/t AuEq over 54m. The exploration indicates improving gold grades with depth, suggesting substantial growth potential. The company plans an aggressive 2021 work program to further explore these findings and aims to define bulk tonnage gold mineralization. The property is part of the prolific Golden Triangle region, home to various high-profile mines.
On October 7, 2020, Metallis Resources Inc. (MTLFF) announced the closing of the first tranche of a non-brokered private placement, raising $2,994,350. Due to high investor demand, the offering size increased from $3 million to $3.5 million. The financing will include flow-through units priced at $0.45 and non-flow-through units at $0.40. Proceeds will fund exploration and working capital. Additionally, stock options were granted to Frank Lagiglia to purchase shares at $0.40.
Metallis Resources Inc. (OTCQB: MTLFF) has launched its 2020 Drill Program at the Kirkham Property, located in British Columbia's Golden Triangle. The program will involve an initial 5000 m drill focused on the southern section of the Hawilson Monzonite. This targeting aims to uncover higher-grade copper-gold mineralization and explore calcareous mineralized zones. Previous results identified significant gold mineralization, particularly 3 m at 14.2 g/t. The company is optimistic about drilling depth and grade improvements, as emphasized by President and CEO Fiore Aliperti.
Metallis Resources Inc. (MTLFF) announced preliminary findings from its Phase 1 Field Program at the Kirkham Property in British Columbia. The survey identified a 2 km zone of resistivity and chargeability anomalies indicating extensive porphyry-style mineralization. Significant geological observations include high-grade gold mineralization, with grades up to 14.2 g/t over 3 m. The company is preparing for a Phase 2 Drill Program, focusing on potential high-grade areas identified. Despite challenges like unfavorable weather and COVID-19 protocols, Metallis anticipates further advancements in its exploration efforts.