Imperial Reports Drilling Intersects 21.7 metres grading 16.99% zinc and 3.44% lead and 2.41g/t silver at Ruddock Creek
September 19 2018 - 2:03PM
Imperial Metals Corporation (“Imperial” or the
“Company”) (TSX:III) reports results from RD-18-V41, the first
surface diamond drill hole of a planned three hole program
targeting the deep extension of the V-Zone at the Ruddock Creek
Project.
Highlights include 21.7 metres grading 16.99%
zinc and 3.44% lead and 2.41g/t silver, which included 10.4 metres
grading 25.70% zinc and 5.41% lead and 3.44 g/t silver. The drill
hole targeted the V-Zone mineralization 425 metres below surface
and about 300 metres below the deepest previous mineralized
intercept in the zone. Drill hole RD-18-V41 was collared near
the valley floor of Oliver Creek at an elevation of approximately
1,191 metres above sea level and drilled to a final depth of 828.8
metres.
The V-Zone is located near the western edge of
the Ruddock Creek massive sulphide horizons, which have an
indicated strike length of about five kilometers, and is
approximately two kilometers west of the Creek Zone, the nearest
zone of detailed drilling. Little or no exploration drilling
has been conducted along the intervening section of the horizon.
The V zone strikes east west and dips at about 70 degrees to the
north. The zone had been traced with surface showings and by
shallow drilling for a horizontal distance of about 700 metres, and
with this recent intersection to a depth of approximately 425
metres.
Following are the assays from the mineralization
intersected in RD-18-V41:
Hole # |
TotalLength(m) |
Intervalfrom (m) |
IntervalTo (m) |
IntervalLength(m) |
EstimatedTrueThickness(m) |
Zinc(%) |
Lead(%) |
Silver(g/t) |
RD-18-V41 |
828.8 |
751.5 |
784.4 |
32.9 |
32.7 |
12.01 |
2.47 |
1.74 |
including |
|
751.5 |
773.2 |
21.7 |
21.5 |
16.99 |
3.44 |
2.41 |
and |
|
756.9 |
767.3 |
10.4 |
10.3 |
25.70 |
5.41 |
3.44 |
Due to the steep terrain long, nearly flat drill
holes from near the valley bottom were designed to test the zone at
depth. Hole RD-18-V41 was drilled using an underground
diamond drill rig bolted to a road accessible cliff face at an
azimuth of 27 degrees and a dip of plus 10 degrees. Core size
was HQ to a depth of 450m when the core size was reduced to NQ
size, the hole was drilled to a final depth of 828.8 metres.
The decision to drill test the V-Zone at such a
depth beneath the nearest intercept was supported by the highly
predictable nature of the zinc-lead mineralization intercepted in
the shallower helicopter supported surface diamond drill holes,
electromagnetic and magnetic geophysical anomalies, and a
re-interpretation of the geology. The V Zone in hole
RD-18-V41, which was projected to be intersected at a depth of 750
metres, was intercepted at 751.5 metres confirming the anticipated
predictability of the zone at depth. The highest grades previously
intersected in the V Zone were in holes RD-12-V38, which
intercepted 17.77% zinc and 3.72% lead over a true width of
approximately 7.6 metres and RD-12-V40, which intercepted 10.00%
zinc and 1.80% lead over a true width of approximately 10.9
metres.
The second drill hole being completed from the
same setup, currently at about 700 metres, is at the same azimuth
of 27 degrees as hole RD-18-V41 but started at a dip of minus 10
degrees targeting the mineralization approximately 275 metres below
the intercept in RD-18-V41. A second drill has recently been
set up on the same drill pad and is drilling a flat hole aimed to
intersect the V-Zone between and southeast of the targeted V-Zone
intersections first two drill holes.
A drill section may be viewed on the Company’s
website at
https://www.imperialmetals.com/projects/ruddock-creek/maps-and-diagrams.
The Ruddock Creek Project is operated by way of
a Joint Venture with Imperial, Mitsui Mining and Smelting Co. Ltd.
and Itochu Corporation. Imperial operates the project through its
wholly owned subsidiary Ruddock Creek Mining Corporation.
Japan Oil, Gas and Metals National Corporation (“JOGMEC”) has
agreed to fund Imperial’s share of the 2018 drilling program and
upon the completion of the program has the assignable right to be
vested in an approximate 1.57% Participating Interest in the Joint
Venture. At that time Imperial’s interest will be reduced to
approximately 48.43%.
Jim Miller-Tait, P.Geo., VP Exploration is the
designated Qualified Person as defined by National Instrument
43-101 for the exploration program and has reviewed this news
release. Ruddock Creek samples for the 2018 drilling reported
were analysed at Bureau Veritas Mineral Laboratories in Vancouver.
A full QA/QC program using blanks, standards and duplicates was
completed for all diamond drilling samples submitted to the
labs.
About Imperial
Imperial is a Vancouver exploration, mine
development and operating company. The Company, through its
subsidiaries, owns the Red Chris, Mount Polley and Huckleberry
copper mines in British Columbia. Imperial also holds an interest
in the Ruddock Creek lead/zinc property.
Company Contacts
Brian Kynoch | President |
604.669.8959 Andre Deepwell | Chief Financial
Officer | 604.488.2666 Sabine Goetz
| Shareholder Communications |
604.488.2657 | investor@imperialmetals.com
Forward-Looking Information and Risks
Notice
Forward-looking statements relate to future
events or future performance and reflect Company management's
expectations or beliefs regarding future events and include, but
are not limited to , statements relating to: the Ruddock Creek
Project drill program that address potential quantity and/or grade
of minerals, potential size and expansion of a mineralized zone,
proposed timing of exploration and development plans; and the
assignable right held by JOGMEC to be vested in an approximate
1.57% Participating Interest in the Joint Venture upon the
completion of the Ruddock Creek Project’s 2018 drilling program. In
certain cases, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "outlook", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the
negative of these terms or comparable terminology. By their very
nature forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to changes in project
parameters as plans continue to be refined; future prices of
mineral resources; possible variations in ore reserves, grade or
recovery rates; accidents; dependence on key personnel;
availability of drill rigs and other equipment and infrastructure
required for the development of mining projects; accuracy of any
mineral resources; delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities; political stability, civil disobedience, the presence
of protests and/or blockades; counterparty risks associated with
sales of our metals; changes in general economic conditions;
currency exchange rates and interest rates; increased operating and
capital costs; and other risks of the mining industry as well as
those factors detailed from time to time in the Company's interim
and annual financial statements and management's discussion and
analysis of those statements, all of which are filed and available
for review at imperialmetals.com and sedar.com. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward looking statements.
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