METALLIS COMPLETES GEOPHYSICAL SURVEY AT GREYHOUND, IDAHO
MWN-AI** Summary
Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) has announced the completion of a high-resolution drone magnetic survey at its Greyhound Property in central Idaho, marking a pivotal advancement in preparation for its inaugural drill program. Conducted by Pioneer Exploration Consultants Ltd., the survey encompassed 298 line-kilometers and represents the first geophysical program ever undertaken at this site.
Geophysicist Jules Lajoie's interpretation of the new magnetic data has revealed significant structural features and magnetic anomalies, particularly indicating a notable anomaly coinciding with the high-grade 1350' shoot found in the Lower Rufus adit. This information is crucial as it integrates with geological and geochemical datasets to refine and prioritize drill targets. Metallis' President and CEO, Fiore Aliperti, stressed the importance of this survey, indicating that it has enhanced understanding of the Greyhound shear location beneath overburden and identified multiple parallel shears for further study.
Upcoming plans include drilling approximately 2,000 meters across 6 to 8 drill pad locations, aiming to explore the 3.5-kilometer-long shear zone. Preparatory efforts are underway, including on-site camp construction. The Greyhound Property, which Metallis optioned in February 2024, has historical significance, being part of an active silver mining camp in the early 1900s, with polymetallic quartz-sulfide veins documented as containing high concentrations of gold, silver, antimony, lead, and zinc.
Overall, the successful completion of the drone survey signifies a crucial step for Metallis as it aims to unlock the potential of the Greyhound Property, laying the groundwork for future exploration and drilling activities.
MWN-AI** Analysis
**Market Analysis and Advice on Metallis Resources Inc. Geophysical Survey**
Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) recently completed a significant drone magnetic survey at its Greyhound Property in Idaho. This marks Metallis' inaugural geophysical program at the site, an essential step before their upcoming drill program set to commence later this month. The detailed survey spans over 298 line kilometers and is expected to enhance understanding of subsurface geology, improving the accuracy and effectiveness of future drilling efforts.
As a financial analyst, several points merit investor attention. First, the identification of multiple parallel shears and the correlation of magnetic data with existing geological models strengthens the potential for discovering valuable mineral deposits, particularly gold and silver. The presence of a magnetic anomaly correlating with the high-grade 1350' shoot adds to bullish sentiment surrounding the property.
The historical context of the Greyhound Property further underpins its allure. With a rich mining history and proximity to established operations, including Perpetua Resources’ Stibnite Mine, the region demonstrates significant mining potential. The historical production figures from North Idaho's Silver Valley highlight the area's capability to yield profitable returns, further enhancing Metallis' investment thesis.
As drilling is set to begin with an ambitious plan for 2,000 meters across multiple pads, this could serve as a crucial inflection point for the company. Investors should consider the geophysical survey results as catalysts that may drive share price appreciation. The integration of geological, geochemical, and magnetic datasets increases the likelihood of successful drilling outcomes, making Metallis' stock an attractive speculative buy for those willing to navigate the inherent risks in mining exploration.
Investors should remain vigilant regarding market fluctuations and regulatory developments but may find Metallis Resources Inc. presents an exciting opportunity within the current mining landscape.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
VANCOUVER, BC , Aug. 14, 2025 /CNW/ - Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) Metallis Resources Inc. (the "Company" or "Metallis") is pleased to announce the completion of a high-resolution drone magnetic survey at its optioned Greyhound Property (the "Property"), located in central Idaho . This marks the first geophysical program ever undertaken at the Property and is a major step forward in preparation for the upcoming drill program.
The 298 line-kilometer survey was completed by Pioneer Exploration Consultants Ltd., a leading provider of UAV-based geophysics. Interpretation was conducted by consulting geophysicist Jules Lajoie , who identified key structural features and magnetic contrasts that will help refine priority drill targets in future programs.
Fiore Aliperti , Metallis' President and CEO, commented, "The completion of our first geophysical survey at Greyhound represents a significant step in advancing the project toward its inaugural drill program. The drone magnetic data has provided valuable insight into the structural framework of the property, including the continuity of the Greyhound shear beneath overburden, the identification of multiple parallel shears, and a magnetic anomaly coinciding with the high-grade 1350' shoot. This information is being integrated with our geological and geochemical datasets to refine and prioritize drill targets. With field preparations underway, we are positioned to begin testing these targets for the first time in the property's history."
Survey Results:
- New magnetic data outlines the Greyhound shear in areas of overburden and identifies multiple parallel shears to be investigated during the upcoming program;
- Significantly, a notable magnetic anomaly coincides with the high-grade 1350 shoot in the Lower Rufus adit (See news release dated May 21, 2025 );
- A newly identified north-south linear fabric in the data appears to demonstrate controls on mineralization where it intersects the Greyhound shear;
- Breaks in linear magnetic features have been identified as possible faults and areas of increased fluid flow. Where they overlap with soil anomalies, they represent prospective future targets; and
- Correlation of the magnetic data with the geological model has helped distinguish multiple dykes and geological features that will aid in drill-hole planning.
Next Steps
The geophysical data will play a key role in refining and ranking drill targets along the 3.5 km-long shear zone, which we expect to drill later this month. Interpretation and integration with multiple geochemical and structural datasets will help refine drill collar locations. Additionally, follow up soil sampling and geological mapping will be prioritized in areas where magnetic data demonstrates structural and mineralized characteristics.
Drilling is set to begin mid-August with 2,000 m planned across 6 to 8 drill pad locations. A camp is currently being built on site and final preparations are being made for the first ever drill testing on this advanced project.
About the Greyhound Property
In February 2024 , the Company optioned the Property which is located in Custer County, Idaho , approximately 42 km northwest of the town of Stanley and 35 km south of Perpetua Resources' Stibnite Mine. The Property was the center of an active silver mining camp in the early 1900's and at one point contained a smelter and two active mines situated along the 3.5 km Greyhound shear.
The Greyhound targets are hosted by prominent shear zones with polymetallic quartz - sulphide veins containing elevated concentrations of gold, silver, antimony, lead and zinc. They are comparable to numerous mines in North Idaho's Silver Valley along Interstate 90. This famous district is one of the most prolific silver districts in the world. The total quantities produced are impressive: over a billion ounces of silver, 3 million tons of zinc, and 8 million tons of lead totaling over $6 billion in value, ranking the Silver Valley among the top ten mining districts in world history.
Qualified Person
David Dupre , P.Geo, Vice President - Exploration and the Qualified Person, as defined by National Instrument 43-101, has reviewed, and approved the technical information contained in this release.
About Metallis
Metallis Resources Inc. is a Vancouver -based company focused on the exploration for gold, copper and silver on its flagship 100%-owned Kirkham Property in Canada , situated in northwest British Columbia's Golden Triangle, and on the Greyhound Property, a gold/silver/antimony target in Idaho, USA .
Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt Stock Exchange, and has 84,680,003 common shares outstanding.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director
Web: www.metallisresources.com
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements because of numerous factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities' regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at www.sedarplus.ca . Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated, or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.
SOURCE Metallis Resources Inc.
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FAQ**
How will the results of the high-resolution drone magnetic survey impact Metallis Resources Inc. MTS:CC's exploration strategy at the Greyhound Property moving forward?
What specific structural features identified in the magnetic survey will be prioritized for the upcoming drilling program at Metallis Resources Inc. MTS:CC's Greyhound Property?
Can you provide insights on how the geological and geochemical datasets will be integrated with the geophysical data at Metallis Resources Inc. MTS:CC's Greyhound Property?
What are the anticipated challenges Metallis Resources Inc. MTS:CC may face during the initial drill program at the Greyhound Property, and how are they being addressed?
**MWN-AI FAQ is based on asking OpenAI questions about Metallis Resources Inc. (TSXVC: MTS:CC).
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