VANCOUVER, British Columbia, March 09, 2021 (GLOBE NEWSWIRE) -- Metallica Metals C orp . ( CSE : MM ) ( OT C: MTALF) (F W B: SY7P ) (the “ C o m p a n y ” or “ Metallica Metals ”) is pleased to announce that it has engaged Expert Geophysics Limited (“ EGL ”) of Newmarket, Ontario to complete an airborne Mobile MagnetoTellurics (“ MobileMT ”) geophysical survey over its exploration properties in the Thunder Bay Mining District, which include the Sammy Ridgeline and Richview Pine PGM projects, and the Starr gold-silver project. The airborne MobileMT survey will acquire approximately 2,557 line-km of geophysical data and commence in April 2021 once the necessary permits are in place and EGL have mobilized to the project areas.
Paul Ténière, CEO and Director of Metallica Metals, commented, “The Company is excited to commence exploration work on its gold-silver and PGM properties in the Thunder Bay Mining District and pleased that EGL will be able to mobilize to the properties in early April prior to the busy summer field season. EGL was chosen after a competitive bidding process and able to complete the airborne MobileMT survey in a cost-effective manner and much earlier than other geophysical contractors. The results of this airborne survey will aid in the selection of exploration targets and drill hole locations for all three properties during the upcoming field season.”
The airborne survey will collect magnetic data, which will be utilized to generate a structural map of the Company’s projects, as well as resistivity/conductivity data, which will be utilized to generate targets at depth that may be related to the accumulation of metallic minerals. Both of these geophysical tools, in conjunction with compiled historical data, will be invaluable in planning for the Company’s maiden drilling program.
Airborne MobileMT Electromagnetic Survey Details
According to EGL, MobileMT is the most advanced generation of airborne audio frequency magnetic (AFMAG) technology. EGL’s MobileMT system utilizes naturally occurring electromagnetic fields in the frequency range of 25 Hz – 20,000 Hz and combines the latest advances in electronics, airborne system design, and sophisticated signal processing techniques. Through the audio-magnetotelluric principles, advanced engineering design, and mathematical solutions, MobileMT delivers geoelectrical information from a shallow to >1 km depth range with high spatial (lateral and in-depth) and resistivity resolution. However, the objective of these surveys is high resolution resistivity imaging from surface to 1 km depth. An airborne bird, towed by an AStar 350 BA helicopter, will measure variations of the magnetic field in the air with three orthogonal induction coils, while a ground station will measure variations of the electric field in two orthogonal directions with four pairs of electrodes. The ratio of the magnetic field magnitude and the electric field magnitude provides analytical parameters in selected bands of frequencies. Advanced noise processing technique of both electronic and signal processing levels ensures high data quality. EGL will provide all necessary instrumentation for installation on the helicopter, as well as base stations and field workstations (data processing system) to be used for quality control and processing of the airborne data in the field.
The MobileMT system detects the resistivity contrasts of geological structures and boundaries of any shape and in any direction due to total field (three components) measurements. Airborne magnetic data will also be collected simultaneously in addition to the airborne electromagnetic data. The MobileMT system has become an effective tool in detecting mineralized igneous intrusions (porphyry), faulted contacts and fault associated conductive zones, and alteration and dissemination halos accompanied by mineralized zones containing Cu, Au, Ag, Ni, Co and other metallic elements. The airborne survey will acquire approximately 2,557 line-km of geophysical data over the Company’s properties including:
- Approximately 843 line-km within a 100 m x 1 km grid over the Starr project area
- Approximately 368 line-km within a 200 m x 2 km grid over the Richview Pine project area
- Approximately 1,346 line-km within a 200 m x 2 km grid over the Sammy Ridgeline project area
Final data processing and interpretation, colour imaging, and mapping will be performed at EGL’s offices in Newmarket with final deliverables ready within 8 weeks after the completion of the airborne survey.
Qualified Person Statement:
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, M.Sc., P.Geo., CEO and Director of Metallica Metals Corp., who is a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors
METALLICA METALS C O RP .
Paul Ténière, M.Sc., P.Geo.
CEO and Director
info@metallica-metals.com
Head Office:
Suite 810 – 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: (604) 687-2038
Toronto Office:
Suite 401 – 217 Queen Street West
Toronto, ON M5V 0R2
For more information, please visit the Company’s website at https://metallica-metals.com
Forward-looking Information Statement
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the Company’s proposed acquisition, exploration program and the expectations for the mining industry. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
