METALLIS ANNOUNCES 2026 DRILL PROGRAM UNDERWAY AT GREYHOUND PROJECT, IDAHO
Metallis advances Greyhound drilling as cash extends while dilution risk persists.
Metallis Resources Inc. (MTS) has commenced its 2026 diamond drilling program at the Greyhound Property in Idaho. Drilling began on July 8, 2026, with the first hole designated GH26-12. The initial phase targets the 1350 Zone adjacent to the Lower Rufus Adit to evaluate the continuity, grade, thickness, and structural geometry of the principal Rufus Vein.
The total planned 2026 exploration program includes approximately 3,000 metres of diamond drilling, supplemented by geological mapping, trenching, and geochemical sampling. Future targets include the 1100, 1000, and 500 Zones, focusing on high-grade shoots identified from historical underground chip sampling and updated 2025 geological modeling. Additional exploration will advance the Republican, Bulldog, Akita, Idaho, Ridge Cut, and Birdie target areas.
Metallis Resources Inc. (MTS) has commenced its 2026 drill program, a routine operational milestone following the successful completion of the 2025 maiden drill campaign and the high-grade discovery announcements made in December 2025. The company has shifted its exploration strategy from the broad testing conducted in 2025 to targeted structural drilling in 2026, aligning with management’s stated plan to refine high-grade shoots.
The program is fully funded by a recently closed $2.0 million non-brokered private placement, with the first tranche closing at $1.2 million, removing immediate near-term financing risk for this phase. No new geological data or assay results were provided in the release, limiting the market impact to confirmation of execution and capital deployment.
Metallis Resources Inc. is a pre-revenue mineral exploration company focused on two primary assets: the Greyhound Property in Idaho and the Kirkham Property in British Columbia. The company is in the exploration stage with no revenue, relying entirely on equity financings to fund operations.
The Greyhound Property is a 673-hectare polymetallic gold/silver/antimony project located in Custer County, Idaho. It features quartz-sulphide veins hosted by shear zones, with geological similarities to the Lucky Friday Mine. The 2025 maiden drill program returned high-grade silver-gold-antimony intercepts, including 795 g/t AgEq over 1.48m at the 1350 Zone.
The Kirkham Property is a 106 km² wholly owned property in BC's Golden Triangle, focusing on gold and copper exploration. It has seen limited recent activity compared to Greyhound.