Metallis Resources Provides an Interpretation of the "King Anomaly" on the Kirkham Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 25, 2014) - Metallis Resources Inc. (TSX VENTURE:MTS) (the "Company" or "Metallis Resources) is pleased to announce the receipt of a report which provides an interpretation of the "KING ANOMALY" on the Company's Kirkham Property (the "Property"), situated in the prolific Golden Triangle area of northern British Columbia. This report was recently prepared by Dr. J. Lajoie, Ph.D., P.Eng., Geophysicist. Previously, in July 2013, Geotech Ltd., ("Geotech") conducted a helicopter-borne versatile time domain electromagnetic (VTEM), magnetometer and gamma-ray spectrometry geophysical survey, covering 57 km2 of the Property at 250-metre line spacing, the results of which were press released on December 19, 2013. Several anomalies were noted, and the Company has prioritized the King Anomaly as its most interesting target.
"The King Anomaly (click here for image) on the Kirkham property was discovered in the 2013 Geotech VTEM airborne electromagnetic survey. The King Anomaly consists of prominent, localized, and coincident electromagnetic and magnetic anomalies. The interpretation suggests that the VTEM electromagnetic response can be fitted using a west dipping 15 Siemen plate-like conductor using a strike length of 300M. The directly coincident magnetic response is negative, due to negative remanent magnetism, suggesting that body was emplaced at a time when the Earth's magnetic field was reversed. In addition, BC regional stream silt geochemistry directly downslope shows anomalous gold (70 ppb - uppermost 2% of all sample results). As well, local silt sampling shows anomalous values in the immediate region.
The King Anomaly has potential for being a gold bearing massive sulphide deposit. It is located about 20 kms from the Eskay Creek deposit. Ground follow-up electromagnetic and magnetic surveys are planned for the summer of 2014, leading to drill testing."
Mr. Fiore Aliperti, President of Metallis, states, "This isolated conductor has not been tested to date and represents the Company's highest priority target suitable for follow-up. These coincident geophysical and geochemical anomalies are very rare in the Golden Triangle and are commonly associated with the most important mineral deposits."
Qualified Person
Technical aspects of this news release have been reviewed and approved by Dr. Jules Lajoie, Ph.D., P.Eng., and David G. Dupre, P.Geo., Vice President of Exploration for the company, designated as a qualified person under National Instrument 43-101.
On behalf of the Board of Directors:
Fiore Aliperti, Chief Executive Officer, President and Director
For more information, please visit the Company website: www.metallisresources.com
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