Announcement • Jul 09
Metallis Resources Inc. Commences 2026 Field Season At Greyhound Project In Idaho
Metallis Resources Inc. announced that exploration crews have arrived at its Greyhound Project in central Idaho, marking the commencement of the 2026 field season. Initial field activities include road and access route maintenance, establishing camp facilities and site visits to priority exploration targets and to verify drill pad locations. The 2026 exploration program will include diamond drilling, geological mapping, trenching, and geochemical sampling. These programs are intended to enhance the Company's understanding of the Greyhound Shear Zone, refine existing drill targets, and identify additional mineralized structures for future exploration. Initial drilling will focus on the Rufus Zone, where the Company's 2025 drill program confirmed a broad mineralized shear zone hosting multiple quartz veins associated with gold, silver, lead, zinc, and antimony mineralization. Building upon last year's results, the 2026 program is designed to further evaluate the geometry, continuity, and structural controls of interpreted higher-grade mineralized shoots within the broader Greyhound Shear system. Beyond Rufus, field crews will continue advancing several emerging target areas, including Republican, Bulldog, Akita, Idaho, Ridge Cut, and Birdie. Ongoing mapping, trenching and sampling will continue to enhance data models and serve to help prioritize targets for future drill testing as exploration progresses across the property. The 2026 exploration program builds upon the Company's inaugural 2025 campaign, which confirmed silver-gold-antimony mineralization at multiple locations across the Greyhound Project and significantly improved the Company's understanding of the Greyhound Shear Zone. Geological modelling and interpretation completed throughout the winter and spring has refined several priority targets that will be evaluated during the current field season. The Company expects drilling to commence following the completion of mobilization activities and final target verification. Additional updates will be provided as exploration progresses throughout the field season. In February 2024, the Company optioned the Greyhound Property, 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. In 2024, the Company staked additional land around Greyhound for a total current property size of 673 hectares. The Greyhound mineralization is hosted by prominent shear zones with polymetallic quartz-sulphide veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead, and zinc. Greyhound shares certain geological characteristics with the Lucky Friday Mine in northern Idaho. Both properties exhibit vein mineralization occurring as fracture-fillings, disseminations, and tabular masses of galena and tetrahedrite along with accessory pyrite in a gangue of siderite, calcite, and quartz. The Lucky Friday zone is a singular, curved tabular body that dips almost vertically. The vein at Lucky Friday has a strike length of up to 450 m and a width that varies from centimeters to as much as 6 m. The average varies from 1.2 to 1.8 m over the full length (SLR, 2022). Metallis states that while the Lucky Friday Mine may share some geological similarities with the Greyhound Property, no representation is made that comparable results will be achieved at Greyhound. Historical results of rock and chip sampling in the lower Rufus adit cannot be confirmed but are believed to be valid and are presented for completeness of disclosure. 2024-2025 rock, chip, and soil samples were collected by company geologists under supervision from a P.Geo and delivered to an independent analytical laboratory (ALS Labs). Dave Nuttall, 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.
