10:58 AM EDT, 05/07/2024 (MT Newswires) -- Metallis Resources ( MTLFF ) was at last look up 16% after saying its geological team has identified "highly elevated" antimony assays, after recent compilation work of the Greyhound property's historic database, that "significantly" increases its critical mineral potential.

According to Tuesday's statement, a technical team identified significant anomalous values of antimony and descriptions from previous operators of antimony sulfide (stibnite) observed within the mineralized zones. It noted a rock sampling program in 1976 returned grades that averaged 2.4% Sb from 12 samples.

In addition to the antimony prospectivity, the Greyhound property's primary commodity is silver, which has significant uses in green technology and energy, with a number of lobbying groups looking to establish silver as a critical metal, Metallis said.

Fiore Aliperti, Metallis' President and CEO, in Tuesday's statement said, "Recent news released by Perpetua announcing $1.8 billion in debt financing has demonstrated to the market the commitment and resolve of the American government to establish a local supply of critical minerals. This strategy is an essential piece of the USA's transition to a sustainable energy future and overcoming China's global dominance in the supply chain of these elements. With options for government grants, loan guarantees, and access to capital, it is encouraging for us to be exploring for the same commodity in the same region."

He added, "We look to leverage this information during our exploration efforts this upcoming season as the Property has never been assessed for antimony potential and provides our investors with multiple chances for success."

The Greyhound property is located in Idaho.

Price: 0.11, Change: +0.02, Percent Change: +16.67