METALLIS ANNOUNCES HIGH-GRADE DISCOVERY AT "1350 ZONE" INCLUDING 795 G/T SILVER EQUIVALENT* OVER 1.48 METERS
None
On December 4, 2025, Metallis Resources announced high-grade drilling results from its inaugural program at the "1350 Zone" on the Greyhound Property in Idaho. The results are from the first few holes of an 11-hole program.
Key intercepts include: - Hole GH25-05: 1.48 meters grading 795 g/t silver equivalent (AgEq), which includes a bonanza-grade band of 0.15 meters grading 4,859 g/t AgEq. - Hole GH25-05: A separate interval of 3.8 meters grading 179 g/t AgEq, which included 0.75 meters of 403.8 g/t AgEq. This zone also contained 1.5 g/t gold. - Hole GH25-07: 15.45 meters grading 142 g/t AgEq, including a higher-grade core of 4.57 meters grading 246 g/t AgEq.
The company highlights the exceptional silver grades, strong associated gold values, and significant antimony grades (up to 5.02% Sb), reinforcing the property's critical-metal potential. CEO Fiore Aliperti stated the program confirmed a "robust, high-grade mineralized zone that warrants significant follow-up drilling" and that the team plans to return as soon as access allows to expand on the discovery.
This news is a material positive catalyst for Metallis Resources. It represents the successful culmination of the company's 2025 exploration strategy for the Greyhound property, which was funded by a $1.5 million financing at $0.16 in June 2025.
- Progression and Validation: The company methodically advanced Greyhound from initial surface sampling in late 2024, which identified high-grade potential, through geophysical surveys in summer 2025 to define targets, to this inaugural drill program. The high-grade drill results validate the historical data, the geological model, and management's exploration thesis. Announcing the completion of the program in November with "encouraging visual results" set high expectations, which these assays have now met and confirmed.
- Discovery De-risking: As the first-ever systematic drill program on the property, hitting high-grade, polymetallic mineralization in multiple holes significantly de-risks the project. It moves the Greyhound property from a conceptual target to a confirmed discovery, which is a major value-creating inflection point for a junior explorer.
- Critique and Red Flags: As a critical analyst, several points temper the excitement:
- Aggressive Metal Price Assumptions: The Silver Equivalent (AgEq) calculation uses metal prices of $3,500/oz gold and $42/oz silver*. These are extremely bullish and significantly inflate the reported equivalent grades compared to more conservative pricing. For context, the company's October 9, 2025 news release used $2,500/oz gold and $28/oz silver. This change in calculation parameters appears promotional.
- Lack of Transparency: The release does not provide a breakdown of the individual metal grades (Au, Ag, Sb, Pb, Zn) that constitute the headline 795 g/t AgEq* intercept. Without this data, it is impossible to independently verify the calculation or assess the true contribution of each metal. This is a significant omission.
- Narrow Intercepts: The highest-grade intercept is over a narrow width of 1.48 meters. While high-grade, narrow-vein systems can be challenging and costly to mine. True widths are currently unknown and could be less than the drilled interval.
Despite these critiques, the news confirms a high-grade mineralized system exists. The market anticipated positive results, with the stock price rallying from $0.21 in late August to $0.55 leading up to this release. These results validate that rally and provide a fundamental basis for a higher valuation.
Metallis Resources Inc. is a Canadian-based junior mineral exploration company. Its primary assets are the Kirkham Property in British Columbia's Golden Triangle and the Greyhound Property in Idaho, USA. Following the recent drill results, the Greyhound Property is now the company's undisputed flagship project. Greyhound is a high-grade, polymetallic (silver, gold, antimony, lead, zinc) exploration project located in the historical Stibnite mining district of Idaho. The property contains a 3.5 km mineralized shear zone that was subject to historical mining but had never been tested with modern drilling techniques until the company's 2025 campaign. Both properties are subject to Net Smelter Return (NSR) royalties.