iMetal drills hydrothermal alteration at Gowganda West
Momentum Public Relations
Press Release: November 05, 2019
IMETAL DRILLS SIGNIFICANT WIDE INTERSECTIONS OF HYDROTHERMAL ALTERATION ON GRID ZONE 3 AND EXTENDS DRILLING BEYOND PLANNED DEPTH
iMetal Resources Inc. has completed an initial 752-metre NQ diamond drill hole on grid zone 3 on the company’s Gowganda West property. The project is located 20 km from Gowganda, Ontario and 90 km from Kirkland Lake, Ontario.
The first drill hole targeted a high priority high chargeability and high resistivity anomaly labeled as GZ3-04 that had been identified by the recently completed IP survey by Abitibi Geophysics, Inc. (See press release, October 4th, 2019). This IP anomaly underlies at depth, the Grid 3A and 3B surface showings that returned high grade grab samples (up to 56 g/t Au) and several high grade channel samples (up to 23.67 g/t over 0.30 m) (See press release February 6th, 2018) over the past 24 months.
The drill hole encountered strong and extensive alteration to the original target depth of 500 m and as a result the hole was extended to the full rig capacity of 752 m to the end of the hole.
The hole first intersected hydrothermal alteration from 160 m to 235 m, with ~75 meters of a meta-sedimentary sequence showing extensive silicification, and bleached pale to medium grey mudstone with trace to 3% fine grained disseminated pyrite sulphide mineralization.
The hole then encountered a second, much larger section of hydrothermal alteration from 235 to 752 meters in a meta-sedimentary sequence with a conformable contact to a polymictic pebble conglomerate. This conglomerate exhibits evidence of hydrothermal alteration with a number of sections displaying very strong pervasive replacement silicification and also contains local fine-grained disseminated trace to 3% pyrite in the matrix.
This drill hole intersected 517 meters (from 235 m to 752 m in downhole core length) of conglomerate that carries red jasper as grit, granules and small pebbles, that is consistent with the Archean aged Indian Lake Group of the Porcupine Assemblage.
The significance of this strong siliceous alteration in addition to the presence of disseminated pyrite (trace to 3%) that cuts through both the mudstone and conglomerate lithologies is that it correlates well with the IP anomalous signatures of high resistivity coupled with the high chargeability as presented in the Abitibi Geophysics Inc. (See press release October 4th, 2019) report.
The Gowganda West, Ontario project consists of 147.5 km2 contiguous claims, with favourable metasedimentary lithologies that extend north-south in excess of 8 km long and 3 km wide on the property. The large scale of this highly prospective exploration ground makes the Gowganda West project a potentially key emerging gold basin in the Abitibi greenstone belt.
Johan Grandin, President and CEO, commented “Initial visual results from drilling at Zone 3 are beyond our expectations and demonstrate that we have an extremely large and strong hydrothermal system at Gowganda West. The wide intersections and pervasive alteration that has been encountered are particularly impressive with the drill passing through hundreds of meters of hydrothermal alteration, which bodes well for the presence of gold mineralization. We have accelerated the sampling and assaying of some of these significant intervals and will be reporting these assay results as soon as available.”
Dave Gamble, P. Geo and QP, commented “Initial visual results from this first hole targeted a strong high resistivity and high chargeability IP anomaly. This anomaly correlates extremely well with the hydrothermal altered meta-sedimentary sequence and associated pyrite mineralization seen in this drill hole. We look forward to drill testing the other significant IP anomalies currently identified on the Gowganda West property.”
Several examples of drill core from the current drill campaign can be found on iMetal’s website, https://imetalresources.ca/core-photos/
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604-739-9713 or visit iMetal’s website at www.imetalresources.ca. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
- Published in iMetals Resources Inc., Mining
iMetal begins drilling at Gowganda West Zone 3
Momentum Public Relations
Press Release: October 21, 2019
iMetal Resources Inc.’s first ever diamond drilling program has commenced at Zone 3 in the company’s Gowganda West project. Upon completion of the induced polarization program and subsequent interpretation, a number of high chargeability anomalies were identified. As such, the iMetal team has determined that Zone 3 be the company’s first priority. (Please see press release dated Oct. 4, 2019.)
The Zone 3 IP survey covered an area of 1.2 square kilometres and 500 metres in vertical height. iMetal will drill its first test hole of this major anomaly to a depth of 500 metres. Arrangements have already been made with a drilling company from the local area.
Laframboise Drilling from Earlton, Ont., has been contracted for the drill program. iMetal intends to assay this drill hole for gold, base metals and other elements. Resulting core data will be logged at the company’s facilities in Kirkland Lake, Ont.
Johan Grandin, iMetal president and chief executive officer, commented: “We are delighted to commence our first ever drill campaign at Zone 3. The recently completed IP program has identified several high-priority exploration targets at Zone 3, and we look forward to seeing initial diamond drill hole results. In addition, a new drill program targeting the IP anomalies identified at depth at Zone 1 South is also currently being finalized. We look forward to providing the market with further updates.”
iMetal Resources is a Canadian-based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West project in Ontario, Canada.
- Published in iMetals Resources Inc., Mining, News Home
iMetal Completes Induced Polarization (“IP”) Geophysical Survey and Identifies Multiple Large High Priority Anomalies
Momentum Public Relations
Press Releases: October 4, 2019
iMetal Resources Inc. (TSXV:IMR) (“iMetal” or the “Company”) is pleased to announce that it has completed a 46.5 line kilometer induced polarization (“IP”) survey on their Gowganda West Gold pro ject. The survey was completed by Abitibi Geophysics Inc., (“Abitibi”) using their proprietary OreVision(R) IP technology. The survey targeted iMetal’s Zone 1 South and Zone 3A/3B (see press release, July 18 th , 2019).
Multiple sizeable chargeability anomalies have been identified, which extend locally from surface to a vertical depth of approximately 500 metres and lateral width extents of up to 1.4 km. In conjunction with our prospecting, phase 1 drilling results and our VTEM survey the IP anomalies from Zone 1 South and Zone 3A/3B are currently under review in order to identify drilling targets.
Dave Gamble, P. Geo. and QP commented: “It is extremely exciting to see so many high priority IP drill targets generated within this initial IP geophysical survey on these two grid areas. The current IP results are well beyond our expectations. We look forward to the upcoming drill program with keen anticipation”.
A three dimensional video made by Insidexploration presented by Dave Gamble, P. Geo, QP, discussing the results of the IP survey can be viewed at .
Subsequent to the review and interpretation of the Company’s accumulated geological database the technical team has developed a better geological understanding of Zone 1 and Zone 3A/3B. The results from the IP survey conducted in August 2019 shows that the shallow drill holes drilled in February of 2019 were located to the east and above the IP anomalies at depth. The results of the initial Zone 1, South drilling program demonstrated the presence of a pyritic-gold bearing mineralized hydrothermal alteration system on the Gowganda West property, which can be seen in greater detail in the IP results. The combined data provides a highly encouraging geological setting for this year’s drilling campaign.
Zone 1
High chargeability values with corresponding high resistivity IP anomalies were outlined over an extensive sub-surface area on Grid 1. The two-dimensional IP pseudo-sections for each grid line can be viewed in the Abitibi Geophysics Inc report (see link below to access report).
The west to east grid lines are 1200 meters in length and established at 100 meter line spacings. The I.P. survey delineated an anomalous sub-surface corridor extending 800 metres from station 6+00 mW to 2+00 mE on the grid lines L 6+00 mN through to the south at L 3+00 mS. This anomalous corridor extends over 1000 – 1200 metres from stations 6+00 mW to 4+00 mE on the grid lines from L 3 + 00 mS extending south to L 6 + 00 mS. Most anomalous responses lie below surface and continue to +400 metre depths below surface. Upcoming drilling will target the centers of a number of priority anomalies that have been identified associated with high resistivity coupled with high chargeability results.
Zone 3A/3B
The high chargeability with corresponding high resistivity IP anomalies were also outlined over an extensive sub-surface area on Grid 3, that also can be viewed on the two-dimensional IP pseudo-sections for each grid line in the Abitibi Geophysics Inc. report, (see link below to access report).
The west to east grid lines are 1400 metres in length and are also at a 100 meter line spacing. The IP survey also delineated an anomalous sub-surface area extending 800 m to 1200 m from stations 6+00 mW through to 6+00 mE on grid lines L 7+00 mS through to L 3+00 mN, and also extending 300 metres to 500 metres from station 3+00 mW to 2+00 mE on grid lines L 4+00 mN through to L 6+00 mN. Most of the anomalous IP responses lie below the surface and continue to +400 metres below surface. High chargeability and resistivity occurs in the central and western part of Grid 3 with the known mineralized Zone 3A coincidental to an IP anomaly at depth. This IP anomalous signature remains open to the west and to the south of Zone 3A/3B through to the edge of IP coverage on the grid.
Discovery of New Mineralized Zones
iMetal will also investigate the gold potential of two new disseminated pyrite mineralized showings identified by the IP survey which are adjacent to the south of Zone 1 South, and west of Zone 3A/3B. Our senior geological team headed by Dave Gamble, P. Geo will work to determine whether these newly discovered disseminated pyrite showings exhibit continuity as part of a north-trending hydrothermal system. This alteration and disseminated pyritic mineralization has been identified in scattered outcrops along 7 km in length.
Johan Grandin, President and CEO of iMetal commented, “We are very excited about the new multi-full drill targets that have been generated from the results of the IP survey. These re sults provide further evidence for a hydrothermal pyrite-gold system at Gowganda West property, and we have yet to drill test any of these highly promising IP targets on the Zone 1 South and Zone 3A/3B grids. Drill testing of these new targets will commence soon, and a further update will be provided shortly”.
We are also very pleased in knowing that our project location in Ontario provides an opportunity with good access for the company to conduct work year -round including drilling and geophysical surveys and field season prospecting.
Maps and cross sections showing the geophysical interpretation from Abitibi Geophysics’ Inc survey are available at https://imetalresources.ca/detailed-ground-geophysics/
We seek safe Harbor.
The technical content of this news release has been reviewed and approved by Dave Gamble P.Geo., a qualified person as defined under NI 43 – 101 .
ON BEHALF OF THE BOARD OF DIRECTORS,
“Johan Grandin”
President & CEO, iMetal Resources Inc.
Tel. (604)-739-9713
510-580 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604- 739-9713 or visit iMetal’s website at www.imetalresources.ca .
- Published in iMetals Resources Inc., Mining, News Home
iMetal Identifies Additional Target Areas at Gowganda West and Commences IP Work Program
Momentum Public Relations
Press Release: July 18, 2019
iMetal Resources Inc. (TSXV:IMR) (“iMetal” or the “Company”) is pleased to announce further progress with exploration activities at the Company’s 150 sq. km Gowganda West property in Ontario, which is contiguous to Pan American Silver’s 4M oz. Juby gold deposit (“Juby deposit”).
Abitibi Geophysics Inc., (“Abitibi”) has commenced an IP work program at iMetal’s target Zone 3A/3B, using Abitibi’s proprietary OreVision(R) IP system. Upon completion of the IP survey at 3A/3B, Abitibi will move on to target, Zone 1 South. Data interpretation reports and drill target identification are expected to be received in August. Drillers have been advised of the on-going work programs and can position rigs quickly when necessary.
While work activities have progressed in the field, iMetal’s QP Dave Gamble has reviewed and integrated the VTEM reports, historical data, geological maps and the ongoing field work results. His analysis has resulted in the identification of 12 additional target areas of interest. Of note, some of these newly identified target areas, coincide with Geotech’s recently identified targets and have been confirmed as having outcropping features when assessed via a drone survey.
More specifically, to the west of Zone 1 South, along 3 northwest/southeast trending faults running adjacent to Soot Lake and south of Pan American Silver’s Juby deposit, QP Dave Gamble has identified zones A1-A4. These target areas appear to align with what Geotech highlighted as Zone 1F (please refer to press release May 16,2019). In addition, Zones A1-A4 were also identified from a historical assessment record which Albert Mining’s proprietary CARDS (Computer Aided Resources Detection System) was utilized in the Shining Tree area in 2011.
In view of additional information gathered from a multitude of sources, iMetal is planning a drill campaign later this summer to investigate the new additional 12 target areas identified. Timelines and guidelines will be announced as work programs evolve, but we are confident that this summer/fall, 2-3 new zones will have rock samples collected, grids cut and IP work completed for the additional target areas identified. As work programs progress into the winter, special attention will be focused on Target area A-12 as it is the largest geophysical anomaly identified so far, and is best accessed during the winter months for the purposes of grid cutting, IP work and drilling.
We are very encouraged by the early exploration results of these additional target areas. iMetal looks forward to expanding its work program expeditiously and to include the 12 new target areas, as a broadening corporate initiative to take advantage of these interesting opportunities. The 12 target areas identified have been outlined as A1 through A12 and can be found at @ https://imetalresources.ca/gowganda-west/gowganda-west-maps/
Dave Gamble, P. Geo and iMetal’s QP, commented: “iMetal is very fortunate with so many great target areas that all have legitimate chances of discovery as we advance our exploration program.”
Qualified Person
The technical content of this news release has been reviewed and approved by Dave Gamble, P.Geo., a qualified person as defined under NI-43-101.
We seek safe Harbor.
ON BEHALF OF THE BOARD OF DIRECTORS ,
Johan Grandin
President & CEO ,
iMetal Resources Inc.
jgrandin@imetalresources.ca
Tel. (604-739-9713)
588-580 Hornby St., Vancouver, BC, V6C 3B6.
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604- 739-9713 or visit iMetal’s website at www.imetalresources.ca .
- Published in iMetals Resources Inc., Mining, News Home
iMetal hires Abitibi for IP surveys at Gowganda West
Momentum Public Relations
Press Release: June 25, 2019
iMetal Resources Inc. has provided near-term exploration activities at the company’s 150-square-kilometre Gowganda West property in Ontario, which is contiguous to Pan American Silver’s four-million-ounce Juby gold deposit.
iMetal has contracted Abitibi Geophysics Inc., (“Abitibi”) to perform IP surveys using Abitibi’s proprietary OreVisiontrademark IP system. The IP survey will start at iMetal’s two primary target zones, Zone 1 South, (refer to press releases, November 28th, 2018, March 1st, 2019 and May 16th, 2019) and Zone 3A/3B (refer to press releases November 9th, 2017, January 25th, 2018, February 14th, 2018, April 23rd, 2018 and November 23rd, 2018) at Gowganda West in Ontario.
The high resolution and deep penetrating proprietary geophysical survey can penetrate down to a depth of 440 meters. The line spacing interval will be 100-meters and cover a total of 46.5 line kilometers. Deployment of the survey at these two priority zones, will help to identify immediate new drill targets at Gowganda West.
iMetal’s newly discovered Zone 1 South is just a few hundred meters south of the Juby deposit property boundary with grab and channel samples which assayed up to 39.3 g/t gold featuring a trending north-south system. This area identified by the VTEM survey target area Z-1A and confirmed by recent drilling follows an apparent geological north south trend 6km to the south to Zone 3A/3B where high-grade gold and copper showings have been found, including grab and channel samples of up to 56.6 g/t gold and 2.6 % copper.
This summer’s exploration activities will include conducting and interpreting additional IP and identifying multiple drill targets on the Gowganda West property. With the identification of the 7 anomalies outlined by Geotech (refer to May 16 th, 2019 News release), iMetal is encouraged and confident that there is a high probability of identifying 2-3 more priority targets this summer. iMetal is in regular communication with La Framboise drilling, who is eagerly awaiting IP results and have a drill rig ready to be deployed once drill targets have been finalised.
Dave Gamble, P.Geo and iMetal’s QP, commented: “The propriety IP surveys should provide us with immediate drill targets this summer in several locations. This is the primary geophysical survey method that was used historically to identify and explore the Juby deposit a few years ago. As we keep exploring, we see the same alteration and rock types as well as lithologies such as red jasper(s) in pebbles and boulder conglomerate from the recently identified Zone 1 South down to Zone 3A in an apparent 6 km N-S trend with secondary fault system(s) along it.
We are currently sampling in the areas in between and around our geophysical targets also in the vicinity. Extensive clear cutting and logging operations at Gowganda West have been critical factors in giving us important access and also exposing new very favorable outcrop with potential for high-grade gold and copper mineralization. Our exploration team is currently working diligently, exploring and sampling in this area.”
The location of the IP surveys can be found on https://imetalresources.ca/ip/
Qualified Person
The technical content of this news release has been reviewed and approved by Dave Gamble, P.Geo., a qualified person as defined under NI-43-101.
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada.
We seek Safe Harbor.
- Published in iMetals Resources Inc., Mining, News Home
iMetal Resources Receives Final VTEM Interpretation – [7] Exploration Targets Areas Identified
Momentum Public Relations
Press Release: May 16, 2019
iMetal Resources Inc. (TSXV: IMR) (“iMetal” or the “Company”) is pleased to announce it has received the final interpretive report from a 589 line kilometre helicopter-borne versatile time domain electromagnetic (VTEM(TM) plus), and horizontal magnetic gradiometer geophysical surveys completed in December 2018. The survey covers the northern 50% of the Gowganda West Project. The project is located 20 km from Gowganda, Ontario and 90 km from Kirkland Lake, Ontario and is accessible year-round by all-weather road and serviced by excellent infrastructure.
VTEM SURVEY RESULTS – [7] EXPLORATION TARGETS IDENTIFIED
The final interpretation based on the magnetic and electromagnetic data identifies [7] areas deemed prospective for gold mineralization and suitable suitable for ground follow-up on the property. The geophysical surveys have increased the number of target areas from 3 targets announced on April 8 th , 2019 based on initial exploration data. The new targets are close to regional scale fault zones and related second order structures and are hosted in Archean basement rocks and Huronian Gowganda Formation sedimentary rocks. The zones are characterized by high chargeability responses.
The inversion of magnetic data indicates the [7] prospect areas have linear trends parallel to northwest-southeast-trending district scale fault zones. These fault zones are parallel to and may be a continuation of the South Corridor Gold Trend, a metallogenetic feature adjacent to the Juby gold deposit trend. As such the fault zones and related secondary structures represent potential sites of hydrothermal fluid flow and the development of observed large scale gold-mineralized alteration zones on the property. Gold zones Z-1, Z-1S and Z-3 (see news releases, Oct 30 th , 2017, March 1, 2019 and Nov 22 nd , 2017) are adjacent to these district scale faults and potentially along the numerous second-order faults.
The geophysical interpretation also indicates the likely depth of burial for the source of the geophysical anomalies is from zero to between 75-100 metres below surface.
Descriptions of the exploration targets
Final interpretation of VTEM results have resulted in 4 high priority target areas being identified for immediate follow-up ( Z1A, Z1B, Z1C and Z1D) , with an additional 3 areas identified as secondary targets (Z1E, Z1F, Z1G) .
The selected potential polymetallic vein gold mineralization prospective zones are:
- – in close proximity to regional-scale shear/fault zones in the Archean basement rocks and in the Huronian Gowganda Formation sediments
– close to strong chargeability responses
– having higher-order known or inferred faults splayed off the district-scale share/fault zones
Z1A and Z1B
Potential exploration targets Z1A and Z1B are located short distances off an inferred district-scale fault trending in an approximately NW-SE direction, possibly in the extension of the South Corridor Gold Trend. The northern end of Z1A covers the Z-1 and Z1 South Au zones. There are strong chargeability responses north of the Z1A and south of Z1B in the lower lying areas or drainages.
Z1C
Potential target Z1C is located south of an inferred regional scale fault. The northern part of the target zone covers the Z-2 Cu-Au zone. There are strong chargeability responses north of the target zone, in drainages.
Z1D
Potential target Z1D is located north of an inferred district-scale fault. The Z-3C Cu-Au zone is located to the south. There are strong chargeability responses north of Z1D.
Z1E
Potential target Z1E is located just north of an inferred district-scale fault (same one for Z1C).
Z1F
Potential target Z1F is located just north of an inferred regional-scale fault, east of Soot Lake. There are strong chargeability responses in the Soot Lake, possibly associated with hydrothermal clays.
Z1G
Potential target Z1G is located just east of the Spider Lake, where there are some strong chargeability responses possibly associated with hydrothermal clays. There are high Au geochemical anomalies west of the Spider Lake.
Current work program
Prospecting, including grab and channel sampling has already commenced on several of the new target areas and ground IP will commence shortly on as many targets that can be reached in order to define drill targets for the summer exploration program.
Dave Gamble, iMetal’s QP commented “The well-defined zones correspond well with our field observations to date at Gowganda West. The VTEM survey was very successful, with multiple parallel mineralized zones traversing the property. We have only scratched the surface.”
Johan Grandin, iMetal’s CEO commented “The final interpretation of the VTEM survey clearly demonstrates the potential of Gowganda West to host near surface gold mineralization. We are now rapidly advancing the ground work to define new drill targets along trend from Zone 1S and at the other high priority target areas. I would like to thank our shareholders for their continued support as we advance the exploration of Gowganda West and prepare for a fully financed, aggressive exploration drill campaign this summer.”
The location of the VTEM anomalies with a scalable map can be found on www.imetalresources.ca/vtem/
We seek safe Harbor.
The technical content of this news release has been reviewed and approved by Dave Gamble P.Geo., a qualified person as defined under NI- 43 – 101 .
ON BEHALF OF THE BOARD OF DIRECTORS,
“Johan Grandin”
President & CEO, iMetal Resources Inc.
Tel. (604)-739-9713
- Published in iMetals Resources Inc., Mining, News Home
iMetal Resources Drills into a Large Hydrothermal Gold System at Gowganda West
Momentum Public Relations
Press Release: May 16, 2019
iMetal Resources Inc. (TSXV: IMR) (“iMetal” or the “Company”) is pleased to announce results from its maiden drill program at Zone 1 South at Gowganda West, Ontario.
Highlights
– Zone 1 South drill tested with 5 diamond drill holes totalling 1,258 meters
– All drill holes intersected Archean aged Indian Lake Group clastic meta-sedimentary lithologies
– Assay results demonstrate that the gold mineralisation encountered to date appears to be part of and within an extensive large near surface hydrothermal alteration and gold mineralizing system
– Higher grade intercepts included 2.95 g/t Au over 2.5m (IMGW-19-01), 1.55 g/t Au over 0.9m (IMGW-19-03), 1.43 g/t Au over 4.6m (IMGW-19-05) and 1.07 g/t Au over 6.65m (IMGW-19-04)
– Especially noteworthy are the extensive low grade gold intersections seen in IMGW-19-01 and IMGW-19-04
– Follow-up IP survey work will now commence over Zone 1 South and along the new interpreted targets of the NW-SE South Corridor gold trend to target potentially higher grade areas of this gold system
The Zone 1 South Area was drill tested with 5 diamond drill holes totaling 1,258 meters. All drill holes intersected the Archean aged Indian Lake Group (I.L.G) clastic meta-sedimentary lithologies. Recent geochronological age dating by Ayers et al 2013, indicates the I.G.L. is 2690-2680 Ma and is Archean aged and is therefore part of the Porcupine Assemblage. The I.L.G. meta-sedimentary lithologies exhibit spectacular bright red to maroon red jasper grit, granules, pebbles to boulders that are also very commonly found in the slightly younger Timiskaming Assemblage 2676-2670 Ma that also commonly occur within the regional significant gold camps both at and near Kirkland Lake and Timmins Ontario.
Assay results for the 5 diamond drill hole program indicates that the gold mineralization encountered to date appears to be part of and within an extensive large near surface hydrothermal alteration and gold mineralizing system. The nature of the I.L.G. meta-sedimentary lithological sequence appears to have provided a permeable and porous favorable host environment for a gold bearing hydrothermal system to develop and become established. As a result, there are extensive core lengths of geochemically anomalous to low grade gold mineralization from the results that have been returned for the drill testing on the Zone 1 South area.
Higher grade intercepts included 2.95 g/t Au over 2.5m (IMGW-19-01), 1.55 g/t Au over 0.9m (IMGW-19-03), 1.43 g/t Au over 4.6m (IMGW-19-05) and 1.07 g/t Au over 6.65m (IMGW-19-04).
Especially noteworthy are the extensive low grade gold intersections in the range of 0.25 g/t to 0.80 g/t seen in IMGW-19-01 and IMGW-19-04.
See Table 1 following below for DDH GPS location, elevation, azimuth and dip, length of hole, and comments, and see Table 2 for Assay Results for DDHs IMGW 19-01, -02, -03, -04, and -05 for assays generally greater than 0.25 g/t Au (depending on core lengths and/or frequency of nearby intervals). The first 5 holes were drilled to a shallow drill depth of 178 metres.
It should be noted that initial drilling at Zone 1 South did not have the benefit of the recently completed VTEM survey completed by Geotech, which indicates that Zone 1 South is located at the northern end of a high priority target zone. Stronger geophysical anomalies occur to the south east of Zone 1 South and these are currently being investigated (see press release dated May 16, 2019).
Based on these initial drill results follow-up IP survey work will now commence over Zone 1 South and along the new interpreted targets of the NW-SE South Corridor gold trend.
Dave Gamble, iMetal’s QP, commented: “The mineralisation found in all assays demonstrates evidence of a large hydrothermal gold system in Archean rocks. Follow up work is now required to better target the potentially higher grade areas of this gold system.”
Table 1. DDH’s IMGW19-01, -02, -03, -04, -05 LOCATION & COMMENTS ON RESULTS
Hole ID | Location
Collar GPS mE/mN |
Elev
a.s.l. (m) |
Azimuth/Dip degrees | EOH
CL (m) |
Comments
All Au assays in g/t All intervals in core length meters |
IMGW-19-01 | 502817 mE | 300.0m | 245.0/-45 | 251.0 | extensive hydrothermal alteration in ILG meta-seds |
5270096 mN | 0.56 g/t Au over 7.1 m at 118.4-125.5m | ||||
0.84 g/t Au over 4.0 m at 135.0-139.0m | |||||
2.95 g/t Au over 2.5 m at 141.5-144.0m | |||||
0.29 g/t Au over 9.0 m at 175.0-184.0m | |||||
0.37 g/t Au over 29.4 m at 191.0-220.4.0m | |||||
IMGW-19-02 | 502785 mE | 301.0 m | 270.0/-45 | 251.0 | 0.42 g/t Au over 4.65 m at 119.35-124.0m |
5270136 mN | |||||
IMGW-19-03 | 502806 mE | 296.6m | 260.0/-45 | 251.0 | 0.53 g/t Au over 1.0 m at 40.0-41.0 m |
5270120 mN | 0.12 g/t Au over 6.0 mat 163.0-169.0 m | ||||
1.55 g/t Au over 0.9 m at 219.0-219.9 m | |||||
IMGW-19-04 | 502839 mE | 299.9m | 245.0/-45 | 254.0 | extensive hydrothermal alteration in ILG meta-seds |
5270056 mN | 1.07 g/t Au over 6.65 m at 89.35-96.0 m | ||||
0.29 g/t Au over 34.1 m at 165.4-199.5 m | |||||
0.48 g/t Au over 19.5 m at 202.0-221.5 m | |||||
0.68 g/t Au over 6.5 m at 223.5-230.0 m | |||||
IMGW-19-05 | 502795 mE | 301.4m | 270.0/-45 | 251.0 | 0.20 g/t Au over 7.75 m at 50.0-57.75 m |
5270182 mN | 0.16 g/t Au over 2.95 m at 68.0-70.95 m | ||||
0.71 g/t Au over 1.0 m at 98.0-99.0 m | |||||
1.43 g/t Au over 4.6 m at 102.0-106.6 m |
Table 2. ASSAY RESULTS for DDH’s IMGW 19-01, 19-02, 19-03, 19-04, 19-05.
Drill Hole ID | From
(m) |
To
(m) |
Intersection
core length (m) |
Au
g/t |
IMGW 19-01 | 56.10 | 56.85 | 0.75 | 0.12 |
73.15 | 75.4 | 2.25 | 0.19 | |
89.2 | 95.0 | 5.8 | 0.29 | |
incl. | 92.3 | 95.0 | 2.7 | 0.42 |
118.4 | 125.5 | 7.1 | 0.56 | |
incl. | 123.5 | 125.5 | 2.0 | 1.15 |
135.0 | 139.0 | 4.0 | 0.84 | |
incl. | 136.7 | 138.0 | 1.3 | 1.90 |
141.5 | 144.0 | 2.5 | 2.95 | |
incl. | 142.0 | 143.5 | 1.5 | 4.77 |
175.0 | 184.0 | 9.0 | 0.29 | |
incl. | 178.0 | 182.0 | 4.0 | 0.35 |
incl. | 179.0 | 181.0 | 2.0 | 0.49 |
191.0 | 220.4 | 29.4 | 0.37 | |
incl. | 197.3 | 199.4 | 2.1 | 0.53 |
incl. | 204.0 | 207.0 | 3.0 | 0.60 |
incl. | 212.5 | 214.65 | 2.15 | 0.99 |
incl. | 215.4 | 216.3 | 0.9 | 1.15 |
incl. | 216.8 | 220.4 | 3.6 | 0.52 |
&incl. | 219.0 | 220.4 | 1.4 | 3.30 |
227.4 | 229.35 | 1.95 | 0.21 | |
IMGW 19-02 | 14.8 | 15.60 | 0.80 | 0.23 |
20.0 | 20.5 | 0.5 | 0.18 | |
21.0 | 21.9 | 0.9 | 0.13 | |
83.0 | 85.1 | 2.1 | 0.46 | |
87.35 | 88.0 | 0.65 | 0.21 | |
117.8 | 118.05 | 0.25 | 1.30 | |
119.35 | 124.0 | 4.65 | 0.42 | |
incl. | 119.35 | 119.65 | 0.30 | 4.60 |
incl. | 120.6 | 121.6 | 1.0 | 0.26 |
128.0 | 129.0 | 1.0 | 0.26 | |
132.0 | 133.0 | 1.0 | 0.59 | |
142.5 | 144.6 | 2.1 | 0.29 | |
216.0 | 216.75 | 0.75 | 0.26 | |
IMGW 19-03 | 40.0 | 41.0 | 1.0 | 0.53 |
163.0 | 169.0 | 6.0 | 0.12 | |
219.0 | 219.9 | 0.9 | 1.55 | |
IMGW 19-04 | 25.4 | 25.9 | 0.5 | 0.72 |
89.35 | 96.0 | 6.65 | 1.07 | |
105.25 | 108.25 | 3.0 | 0.29 | |
165.4 | 195.65 | 30.25m | 0.32 | |
incl. | 190.8 | 193.85 | 3.05m | 0.94 |
incl. | 192.0 | 193.85 | 1.85m | 1.34 |
202.0 | 221.5 | 19.5m | 0.41 | |
incl. | 203.4 | 205.2 | 1.8 | 1.25 |
incl. | 216.0 | 217.5 | 1.5 | 0.75 |
incl. | 209.2 | 211.0 | 1.8 | 0.78 |
223.5 | 230.0 | 6.5 | 0.68 | |
incl. | 223.5 | 226.0 | 2.5 | 1.19 |
IMGW 19-5 | 50.0 | 57.75 | 7.75 | 0.20 |
68.0 | 70.95 | 2.95 | 0.16 | |
98.0 | 99.0 | 1.0 | 0.71 | |
102.0 | 106.6 | 4.6 | 1.43 | |
incl. | 103.0 | 104.0 | 1.0 | 6.13 |
146.5 | 147.8 | 1.3 | 0.19 | |
205.0 | 206.0 | 1.0 | 0.15 | |
207.0 | 208.0 | 1.0 | 0.21 |
* Drilling to date is limited so true widths cannot be definitively determined.
Quality Assurance/Quality Control
iMetal Resources drill program employ s diligent standards in drill core sampling and quality assurance/quality control . Core from the above holes was sent to Activation Laboratories Ltd. (Actlabs), ISO certified, carried out the sample analysis in its Timmins, Ontario, facility. Samples were subjected to Actlabs’ RX1 sample preparation which consists of crushing the entire sample to 80% and riffle splitting and pulverizing a 350-gram split to 95%. A 50-gram sub-sample of the pulverized sample was subjected to Actlabs’ 1A2-50 analysis (fire assay with AA finish) and any analysis over 3000 ppb was re-assayed using Actlabs’ 1A3-50 analysis (fire assay with gravimetric finish). Actlabs is independent of the company and has used internal quality assurance/quality control protocols.
We seek safe Harbor.
The technical content of this news release has been reviewed and approved by Dave Gamble P.Geo., a qualified person as defined under NI- 43 – 101 .
The technical content of this news release has been reviewed and approved by Dave Gamble, P.Geo., a qualified person as defined under Ni 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
“Johan Grandin”
President & CEO, iMetal Resources Inc.
Tel. (604)-739-9713
510-580 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604- 739-9713 or visit iMetal’s website at www.imetalresources.ca .
- Published in iMetals Resources Inc., Mining, News Home
iMetal Resources closes $250,000 private placement
Momentum Public Relations
Press Release: March 14, 2019
iMetal Resources Inc. has closed a private placement at 15 cents per unit for gross proceeds of $250,000, subject to TSX Venture Exchange approval. In addition, the company is pleased to announce that it has received proceeds of approximately $500,000 related to the exercise of warrants since Nov. 1, 2018.
The company will issue 1,666,667 units at a price of 15 cents per unit, a premium of approximately 30 per cent to the market price. Each unit consists of one common share of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share, exercisable at a price of 20 cents per share for a period of 24 months from the date of issue.
A new institutional investor is participating for the largest portion of the placement. Insiders of the company have subscribed for an aggregate of 146,667 units for gross proceeds of $22,000 under the private placement alongside support from existing shareholders.
iMetal has agreed to pay finder’s fees of 10 per cent cash and 10 per cent warrants in relation to the private placement. The finder’s warrants will entitle the holder to purchase one additional common share, exercisable at a price of 20 cents per share for a period of 24 months from the date of issue. The company has also agreed to pay finder’s fee broker warrants on a portion of the private placement, which will entitle the holder to purchase one additional common share, exercisable at a price of 16 cents per share for a period of 24 months from the date of issue. All finder’s fees are subject to TSX Venture Exchange approval.
All securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.
The proceeds of the private placement and warrant exercises will be used for continued drilling and exploration work at iMetal’s Gowganda West property. The company will be updating investors on developments at Gowganda West in the near future.
About iMetal Resources Inc.
iMetal Resources is a Canadian-based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR.
- Published in iMetals Resources Inc., Mining, News Home
iMetal Resources reached a 52-week high of 17 cents on volume of 6 million shares
iMetal (TSXB:IMR)
iMetal Expands Drill Program at Gowganda West.
IMR reached a 52-week high of 17 cents on volume of 6 million shares
“These are exciting times for iMetal shareholders as we target a new discovery in the Gowganda Camp.”
– JOHAN GRANDIN, iMetal President and CEO
Highlights
- 100% owned Gowganda West Property, parallel to the PAN AMERICA SILVER”S (TSX: PAAS) 4 million oz Juby Gold deposit
- Juby deposit only 500 meters from Zone 1 South
- Timiskaming Forrest Alliance commenced a major multi-year logging operation that has helped expose key new high-grade outcrop areas, as well as a new road access from highway 560. This has easily saved the company millions of exploration costs
- High Gold and Copper showing at Gowganda West up to nearly 2 ounces per tonne of Gold and 2.6% of copper over a broad area
- Drilling has commenced, and is being expanded for 2019
“…Gowganda in general has been very under-explored and offers potential for Kirkland Lake-style mineralization and deposits.”
GARY GRABOUSKI, Former district geologist for Ontario’s Ministry of Northern Development and Mines on recent samples
Closer look
The property is located ~17km west-southwest from the town of Gowganda, Ontario, which is ~90km southwest of the city of Kirkland Lake. The Kirkland Lake district is part of the Destor-Porcupine Gold camp, one of the most prolific Gold mining districts in North America, with past production exceeding 70-million ounces of Gold. Mining and exploration have been going on in this district since Gold was first discovered near Timmins in 1907.
IMR is immediately adjacent to Juby, a 4-million-ounce Gold deposit. IMR prospectors and geologists have traced high-grade Gold showings over a northeast-trending area in excess of 2 km in rocks similar to those seen in the Kirkland Lake Gold Camp. The drill program will be very interesting and could identify a new high-grade Gold system that is parallel to the Juby deposit.
Recently, major clear-cutting and logging operations have revealed highly mineralized outcrops over much of the property that was previously hidden to past explorers. Clear-cutting at Gowganda West has helped to expose areas such as Zone 1 South as well as Zones 3A, 3B and 3C that occur several kilometers farther south where chip samples returned high-grade Gold and copper results.
A total of 14 chip sample assays from Zone 1 South have returned values ranging from 39.3 grams per tonne Au (sample No. 5901) to 0.60 g/t Au. Nine of the 14 samples exceeded two g/t and also included 16.5 g/t and 11.5 g/t. Zone 1 South, as defined to date, features a 50-metre-wide package of rusty-weathered and silicified jasper pebble conglomerate and green carbonate-altered diabase, exposed over a length of 60 meters before disappearing under cover. The zone strikes north-south. Gowganda West logging has helped to expose areas such as Zone 1 South as well as zones 3A, 3B and 3C that occur several kilometres farther south where chip samples returned values as high as 2 ounces per tonne of Gold and 2.6% of copper.
Preparations continue for near-term maiden drilling at Gowganda West.
Taking a closer look at Gowganda West with Tom O’Connor
About iMetal Resources Inc
iMetal Resources Inc. is a publicly listed company whose principal business activities are the exploration and development of mineral properties. The Company has properties located in Ontario and Quebec, Canada. The Company is a reporting issuer in British Columbia and Alberta, and trades on the Tier 2 on the TSX Venture Exchange under the symbol “IMR” and on the Frankfurt, Berlin and Bremen exchanges under the symbol “A7V”.
About Momentum PR
Momentum PR is a cutting-edge public and investor relations consulting agency, representing companies within the Canadian investment community.
Since 2009, Momentum PR has been servicing small and mid-cap Canadian-listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies, through online and offline channels.
—
Isabelle Arsenault
Media Relations
MomentumPR
- Published in Gold, iMetals Resources Inc., Mining
iMetal Expands Drill Program at Gowganda West
Momentum Public Relations
Press Release: February 11, 2019
iMetal Resources Inc. (TSXV: IMR) (“iMetal” or the “Company”) is pleased to announce that the Company is immediately expanding its Phase 1 maiden drill program at the Zone 1 South target area of its Gowganda West Project, 500 meters from Pan American Silver’s Juby deposit and 15 kilometers west of Canada Cobalt’s Castle mine and adjacent gold discovery.
Three drill holes have been completed at Zone 1 South, each to a depth of approximately 250 meters. Significantly, the gold mineralized and altered mafic volcanic and jasper conglomerate lithologies observed at surface (chip sampling returned gold values as high as 39.3 g/t, refer to Nov. 28, 2018, news release) have been intersected by drilling and continue to depth with evidence of a widespread hydrothermal system. Fine-grained pyrite with chalcopyrite is associated with quartz-carbonate alteration and veining in the host lithologies.
Johan Grandin, iMetal President and CEO, commented: “Given what our team has alre ady observed in these initial holes, we are continuing and expanding this first-ever drill program with additional holes at Zone 1 South. These are exciting times for iMetal shareholders as we target a new discovery in the Gowganda Camp.”
Qualified Person
The technical content of this news release has been reviewed and approved by Mark Fedikow, Ph.D. P.Geo., a qualified person as defined under NI-43-101.
We seek Safe Harbor.
ON BEHALF OF THE BOARD OF DIRECTORS,
Johan Grandin
President & CEO,
Tel. (604-739-9713
iMetal Resources Inc.
588-580 Hornby St., Vancouver , BC, V6C 3B6.
- Published in iMetals Resources Inc., Mining, News Home