Metallica files NI 43-101 report, earns 100% interest in Starr Au-Ag project

Metallica Metals (CSE: MM; OTC: MTALF) has filed an NI 43-101 report on its flagship Starr gold-silver project located in the Thunder Bay mining district of Ontario. The report focuses on the company's recently completed 4,426-metre diamond drill program, detailed assay results, and suggestions for future exploration.

The drilling was completed across the central and eastern portions of the Starr property, including an area never previously drilled in the east that contained newly discovered mineralization, which has been named the Brandi zone. Highlighted intercepts from this program include 34.9 metres at 1.11 g/t gold (STR21-001), 25.8 metres at 1.14 g/t gold (STR21-003) and 14.2 metres at 4.1 g/t gold (STR21-004).

"The results from our recently completed drill program confirm the high-grade nature of mineralization contained in the central portion of the property, in addition to demonstrating the great potential for further discoveries on the underworked eastern and western parts of the project," Metallica's CEO Aaron Stone said.

"The new discovery at the previously undrilled Brandi zone is a perfect example of the future prospects for this project. This report has provided us with a fantastic overview of the project and has given us a clear exploration path to follow," he added.

With the filing of the technical report, the company announced that it has now obtained a 100% interest in the Starr project, which according to Metallica is an "important milestone" and signifies its belief in resource expansion and further gold-silver discoveries.

The company first acquired an option on the Starr project – previously owned by Benton Resources – in November 2020. As stated in the Starr option agreement, Metallica must spend a minimum of $800,000 on exploration to earn a 100% interest, which it has now done.

The Starr project is located in the Shebandowan greenstone belt, where multi-million ounce deposits have been discovered. Historically, the property has seen limited exploration, with past drilling yielding 5.36 g/t gold over 20.0 metres in the Star zone and 32.0 g/t gold over 5.9 metres in the Powell zone.

The recent drill campaign – the first by Metallica – is expected to increase the company's understanding of the geology and structure of these mineralized zones.

Additional details on the Starr project can be found on www.metallica-metals.com.