VANCOUVER, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) — Metallica Metals Corp. (CSE: MM) (OTC: CRUUF) (FWB: SY7P) (the “Company” or “Metallica Metals”) is happy to debate its Sammy Ridgeline Undertaking (“Sammy Ridgeline” or the “Undertaking”) and exploration plans for this Undertaking throughout the 2021 discipline season. The Undertaking is comprised of two packages of claims for a complete of twenty-two,766 hectares situated instantly adjoining to, and on pattern with Clear Air Metals Inc.’s Thunder Bay North palladium-platinum (PGE) challenge on each the east and the west sides of their Undertaking. Metallica Metals holds two massive palladium-platinum (PGE) targeted exploration tasks, Sammy Ridgeline and Richview Pine, each situated adjoining to outstanding platinum-palladium (PGE) and base steel deposits inside the Thunder Bay Mining District of Ontario (Determine 1).
The Sammy Ridgeline Undertaking is comprised of the Sammy Ridgeline East Property (13,253 hectares) and the Sammy Ridgeline West Property (9,513 hectares). These properties are underlain by Archean-aged metasedimentary and granitoid rocks of the Quetico Terrane in addition to a sequence of Mesoproterozoic intrusive mafic to ultramafic rocks of Keweenawan Supergroup, that are identified to be beneficial to host PGE-Cu-Ni mineralization inside the Mid-Continent Rift System.
The Sammy Ridgeline Undertaking is contiguous to the Clear Air Metals Thunder Bay North Undertaking (Determine 2). The Thunder Bay North Undertaking is host to 2 vital deposits, Present Lake and Escape Lake, which collectively comprise a historic useful resource estimate accomplished in January 2011 for a earlier proprietor comprising of an open-pit Indicated Useful resource of 8.46 million tonnes at 1.04 g/t Pt and 0.98 g/t Pd (2.13 g/t PtEq) leading to 282,000 oz contained Pt and 266,000 oz contained Pd (580,000 oz PtEq), and an underground Indicated Useful resource of 1.03 million tonnes at 1.63 g/t Pt and 1.51 g/t Pd (3.48 g/t PtEq) leading to 54,000 oz contained Pt and 50,000 oz contained Pd (115,000 oz PtEq). The open-pit mineral assets have been reported inside an LG pit shell at a cut-off grade of 0.59 g/t PtEq and underground mineral assets have been reported at a cut-off grade of 1.94 g/t PtEq (supply: NI 43-101 Technical Report on the Thunder Bay North and Escape Lake Properties, Northern Ontario, Canada for Regency Gold Corp. and ready by Clark Exploration Consulting with an efficient date of January 31, 2020, filed on SEDAR underneath Clear Air Metals Inc.). Readers are cautioned that mineralization and mineral useful resource estimates on adjoining and/or close by properties will not be essentially indicative of mineralization on the Sammy Ridgeline Undertaking (please consult with extra cautionary statements beneath).
As detailed within the Thunder Bay North technical paperwork and scientific literature, and proven in Determine 2 in yellow, mineralization within the speedy space is hosted by a “mineralized conduit” which is delineated by an ultramafic/mafic intrusive advanced. This mineralized conduit has been emplaced alongside a kilometre-scale regional east-west trending fault system. This regional-scale fault system seems to increase past the property bounds of Clear Air Metals Inc. each to the East and to the West and onto Metallica Metals’ properties and would be the focus of the Firm’s exploration efforts. As proven in Determine 2, minimal exploration drilling has taken place traditionally each alongside and to the north of this fault inside the Sammy Ridgeline property bounds.
Sammy Ridgeline Undertaking Exploration Plans:
Metallica Metals is at present reviewing contractor quotes for an airborne electromagnetic survey to be accomplished over the whole property. This geophysical survey, which the Firm expects to launch within the coming months, could delineate anomalies that may then be examined with prospecting, trenching, and ultimately diamond drilling. Along with defining electromagnetic anomalies, the geophysical survey can even present the Firm with an in depth magnetic map which it may make the most of to finish a property-wide structural evaluation.
Certified Particular person and Cautionary Statements
All scientific and technical info contained on this information launch was reviewed and authorized by Paul Ténière, M.Sc., P.Geo., CEO and Director of Metallica Metals Corp., who’s a Certified Particular person as outlined in NI 43-101.
This information launch accommodates scientific and technical info with respect to adjoining or comparable mineral properties to the Richview Pine Undertaking and the Sammy Ridgeline Undertaking, which the Firm has little interest in or rights to discover. Readers are cautioned that info relating to mineral assets, geology, and mineralization on adjoining or comparable properties just isn’t essentially indicative of the mineralization on the Firm’s properties.
On behalf of the Board of Administrators
METALLICA METALS CORP.
Paul Ténière, M.Sc., P.Geo.
CEO and Director
Suite 810 – 789 West Pender Avenue
Vancouver, BC V6C 1H2
Ph: (604) 687-2038
Suite 401 – 217 Queen Avenue West
Toronto, ON M5V 0R2
For extra info, please go to the Firm’s web site at https://metallica-metals.com
Ahead-looking Data Assertion
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Ahead-looking info is predicated on the opinions and estimates of administration on the date the statements are made, and are topic to a wide range of dangers and uncertainties and different elements that might trigger precise occasions or outcomes to vary materially from these anticipated within the forward-looking info. Among the dangers and different elements that might trigger the outcomes to vary materially from these expressed within the forward-looking info embrace, however will not be restricted to: common financial situations in Canada and globally; trade situations, together with governmental regulation and environmental regulation; failure to acquire trade associate and different third celebration consents and approvals, if and when required; the supply of capital on acceptable phrases; the necessity to acquire required approvals from regulatory authorities; inventory market volatility; liabilities inherent in water disposal facility operations; competitors for, amongst different issues, expert personnel and provides; incorrect assessments of the worth of acquisitions; geological, technical, processing and transportation issues; adjustments in tax legal guidelines and incentive applications; failure to understand the anticipated advantages of acquisitions and inclinations; and the opposite elements. Readers are cautioned that this checklist of danger elements shouldn’t be construed as exhaustive.
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