More background info on MTSAn article from a few years ago but still summerizes the situation nicely
Metallis has a two exploration projects with potential for large-scale discoveries. Those projects, both in Canada, sit in the midst of two of the most prolific mineral belts in the world. Both projects have benefitted from decades of earlier work. Metallis is now conducting the first comprehensive evaluation, with results to date demonstrating the scope for large-scale discoveries. Most importantly, the company has a highly experienced geological and management group, with a record of success and a commitment to creating shareholder value. The company’s flagship Kirkham property is located in the heart of the prolific Golden Triangle of northern British Columbia. That region hosts one of the richest metal endowments on the planet. The total metal content of the presently outlined resources in that region exceeds 150 million ounces of gold, 1 billion ounces of silver and 100 billion pounds of copper. Deposit types include large porphyry copper-gold deposits, high grade vein deposits and precious metal-enriched-VMS deposits. The Metallis property hosts geological settings conducive to all of those deposit types. The Eskay Creek deposit, located 20 kilometers northeast of the Kirkham property, was the fifth largest silver mine in the world for several years, with annual production averaging 15 million ounces of silver along with 320,000 ounces of gold. The ore grade at Eskay was a stunning 48 grams per tonne gold and 2220 g/t silver. Eskay was discovered by a junior exploration company in 1988 and then acquired by Homestake Mining. That legendary gold producer was then acquired by Barrick, largely for the Eskay deposit. Just to the west of the Kirkham property are properties held by Seabridge (SEA-TSX) and Pretium (PVG-TSX), both of which host huge porphyry gold-copper deposits. Pretium is presently focused on developing its Brucejack gold deposit, which is a high-grade vein deposit. Drilling by Pretium in the Valley of the Kings Zone at Brucejack has encountered spectacular gold grades, with numerous intercepts in excess of 10,000 g/t gold. High-grade gold values were also found in several past producing mines south of the Metallis property around Stewart and in the Snip mine to the north. The early history of exploration in that region was focused on high-grade gold and silver occurrences. During the 1960s and 1970s, the mining industry was focused on porphyry copper-gold deposits. After the Eskay discovery, there was a flurry of exploration activity, involving hundreds of junior companies, with those programs focused on the small holdings of each company and without any real understanding of the nature of the geology that created that high-grade deposit. The Metallis geological team is headed by Dave Dupre, a geologist with 45 years of worldwide experience. Mr. Dupre was intimately involved in the discovery of the Eskay mine. Since then, he has focused on the Golden Triangle, building on the knowledge that led to that important discovery. He has continued to enhance his understanding of the geology of that rich metal district, and now ranks as one of the leading experts in the region. Dave Webb, a director, is PhD geologist with considerable worldwide experience and success over his 30 year career. Chet Idziszek, a member of the Advisory Council, has worked as an exploration geologist and exploration executive with numerous international mining companies for over 40 years. He has been recognized by his industry peers for his central role in the discovery and development of the Eskay Creek gold deposit, being designated “Mining Man of the Year” in 1990 and “Prospector of the Year” in 1994. Fiore Aliperti, CEO, brings considerable management and financial skill and experience. He was instrumental in pulling together the team and the company’s projects and led a restructuring exercise. Other members of the management team bring a wealth of financial and mining industry experience. Management is committing to building shareholder value. The company incurs a low administrative cost, with management benefiting primarily by way of equity stakes, thereby aligning their interests with the other shareholders. The core of the Metallis property was acquired from the estate of a very knowledgeable geologist who had spent years assembling the property. In addition to the cash and shares already paid, Metallis will pay a royalty on future production. The property was assembled over a period of years by Dr. Rodney Kirkham, who spent 29 of his 50 year career as a research scientist with the Geological Survey of Canada. He also worked with the British Columbia Ministry of Mines and consulted for several companies, including majors. Dr. Kirkham focused much of his career on the Golden Triangle of northern British Columbia and became the leading geological expert in that region. Metallis expanded that core ground through staking and further acquisitions, now holding a property that covers 148 square kilometers. The acquisition by Metallis of such a highly prospective property was possible because of the depressed nature of the exploration industry. With few investors or other companies willing or able to invest, Metallis was able to secure an exceptional property on favorable terms. The Kirkham property was explored over a period of five decades by several companies, both juniors and majors. All of the previous work was done on a piecemeal basis, with the various companies focused on their own property, all of which had limited size. Just a few months ago, the property position was consolidated for the first time, allowing a comprehensive geological investigation. The earlier work identified gold and base metal values over a large area in a geological setting consistent with the large deposits in the region. The property is largely covered with overburden, making geological investigation difficult. Last year, Metallis conducted an airborne geophysical survey over the property, involving VTEM (versatile time domain electromagnetic), magnetic and gamma ray spectrometry measurements. The geophysical results identified several target areas consistent with Eskay-type deposits as well as porphyry copper-gold occurrences. One zone that showed coincident readings for all three geophysical techniques hosts an intrusive body of the same plutonic suite that hosts the Eskay deposit. Another similar target was located just to the west. Those targets are just 20 kilometers southwest of Eskay and in the same geological setting. The Kirkham project must be considered an early stage exploration project. However, it is quite different from most exploration projects: Five decades of exploration results were evaluated by Dr. Kirkham, leading him to make a considerable personal commitment to the project. Building on that knowledge, the Metallis geological team, which has a great deal of experience in the region, is now advancing the project. For the first time, the geological review is being conducted on a comprehensive basis. Decades of scattered fieldwork is being tied together with the results of geophysical surveys and is being looked at comprehensively and in a regional context. It is also important to note that the overall geological understanding of that region continues to evolve. There are some unique features about the geological history of the Golden Triangle that led to the creation of such an enormous wealth of metals and the exceptionally high grades. The Metallis geological team is at the leading edge in applying that geological knowledge in a practical sense The Metallis team is continuing the data compilation. The acquisition earlier this year of the Mt. Dunn property came with a large amount of data. Management anticipates a modest exploration program over this summer field season, largely intended to provide ground-truthing to support the historic information and the geophysical interpretations. Metallis has a second project, a large property in another highly prospective region. The Mackenzie Mountains project is adjacent to and on trend with one of the largest undeveloped iron deposits in the world. The other end of the property covers a copper trend on which a large, high grade copper deposit has been outlined. Both of those deposits were explored in the 1960s and 1970s by major oil companies. The region, and the Metallis property, has potential to host a number of other metal deposit types. A more detailed description of that project and the region is included in a sidebar. Metallis’ Mackenzie Mountains project has exceptional potential, but the value will be realized in a longer term time horizon. Accordingly, the company is working toward securing a partner to fund work on the project. At a time when investors have little interest in exploration, the Kirkham project in northern BC is worth paying close attention to, as it has the potential for a large discovery and is being explored by a team that has made important discoveries in that prolific region.