Metallis Resources Advances Geophysical Surveys for Greyhound Property Drill Program

Metallis Resources Inc. (TSXV: MTS) has unveiled promising updates regarding its Greyhound Property, a notable silver, gold, and antimony site nestled within Idaho's historic Stibnite Mining Camp. The latest development from the company focuses on the upcoming geophysical surveys slated for 2025, aimed at identifying optimal mineralized areas ahead of their summer drilling initiative.

Significant Opportunities Ahead

Dave Dupre, the VP of Exploration at Metallis, emphasized the company's commitment to advancing the potential of the Greyhound Property, stating that it represents a significant opportunity for both the company and its investors. With recent surges in antimony prices—having doubled over the past year—Metallis is keen to tap into the burgeoning market for critical minerals. These developments align with the U.S.'s increasing efforts to secure a domestic supply of such essential resources.

Notably, past sampling programs conducted at Greyhound have confirmed the presence of this highly desired metal, while also revealing outstanding historic silver grades that position Greyhound favorably among other leading mines in the region. Dupre further noted that recent geophysical lab tests returned encouraging results, energizing plans for drone magnetic surveys and induced polarization (IP) surveys. Both types of surveys are pivotal in guiding Metallis towards the initiation of their first-ever drilling on this largely unexamined property.

Planned Geophysical Surveys

The plans include a series of geophysical surveys designed to enhance the understanding of mineralization on the Greyhound Property. Testing on 11 rock samples taken from the property indicated a strong contrast between the polymetallic mineralization and the underlying host granites. This finding suggests that geophysical surveys could effectively identify the most mineral-rich zones available.

To map these features, a drone magnetic survey is underway along with the formulation of survey designs for a spring 2025 deployment. Historical data also suggests that alteration zones marked by magnetic destruction could highlight structural features within the property. Moreover, earlier discoveries, such as the Akita Zone identified in 2024, indicate that previously undiscovered parallel shears may exist, presenting additional opportunities for exploration.

One of the advantages of the Greyhound Property is its location primarily on patented mining claims, which not only provides Metallis with exclusive ownership of the locatable minerals but also streamlines the permitting process. With minimal regulatory hurdles, the company is preparing to initiate drilling activities this upcoming summer.

Legislative Support in Idaho

Further aiding Metallis's exploration efforts is the recent legislative push by the state of Idaho geared toward improving the mining sector. The signing of the SPEED Act on January 24, 2025, serves as a significant milestone, enhancing coordination among agencies to accelerate permitting processes for large-scale projects, notably including mining initiatives.

Additionally, the successful finalization of Perpetua Resources' Stibnite mine permit illustrates Idaho's commitment to fostering a pro-mining environment, marking a period of optimism for the region's mining prospects.

About the Greyhound Property

Acquired in February 2024, the Greyhound Property sits approximately 42 kilometers northwest of Stanley, Idaho. Historically, the property was part of a vibrant silver mining camp during the early 20th century, characterized by the presence of a smelter and active mines along a mineralized shear zone. Despite its rich history, the property has seen limited exploration since its operational years from 1980 to 1991.

The mineralization within the Greyhound site is dominated by prominent shear zones featuring polymetallic quartz-sulfide veins, encapsulating significant concentrations of gold (Au), silver (Ag), antimony (Sb), lead (Pb), and zinc (Zn). Historical sampling indicates impressive silver grades that rival many other significant mines in North Idaho’s renowned Silver Valley, which itself has been one of the most prolific sources of silver globally.

In summary, with an exciting summer drilling program on the horizon, Metallis Resources Inc. is strategically paving the way for unlocking the vast potential of the Greyhound Property, promising prospects for both the company and its stakeholders.

Conclusion

As Metallis prepares for these transformative steps in exploration, the Greyhound Property stands as a testament to the opportunities that lie within Idaho's mineral-rich landscape. The combination of advanced geophysical surveys, supportive legislative changes, and a historical legacy of successful mining positions Metallis to potentially unveil new resources at one of the state’s promising sites.