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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Imperial Mining Group Ltd | TSXV:IPG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.075 | 0.07 | 0.08 | 0 | 01:00:00 |
“The summer drilling results for the Crater Lake property continue to exceed all expectations, as they continue to confirm wide intervals of scandium and TREO+Y at the TGZ target,” said Peter Cashin, Imperial’s President & Chief Executive Officer. “Drilling has now defined the Zone on 50 m sections between Sections 350N and 600N and mineralization has been traced by drilling over 600m in total strike length from surface to a vertical depth of 150 m (Figure 1). Importantly, the zone appears to get wider and higher grade with depth. We anticipate that the resource will likely increase from what was previously reported for the TG.”
CURRENT DRILLING
To date, assays for three additional holes for 648.0 m have been received (Table 2, Figure 1). All drillholes have intersected the target mafic intrusive host rock. The drilling indicates that the TG scandium Zone is doubly dipping between 830 west to 700 east, with a north-northeast strike direction. The widths of the mineralized zone vary between 55 and 135 m (180-443’) in true thickness. Mineralization is open at depth below the 200 m vertical level and along strike and appears as a thickening, conical-shaped body in cross-section.
Table 1 - Crater Lake Drilling Best Assay Results:
Hole # | From (m) | To (m) | Interval (m) | Sc (g/t) | Sc2O3 (g/t) | TREO+Y (%) |
CL22056 | 34.00 | 47.20 | 13.2 | 180 | 276 | 0.383 |
73.95 | 79.0 | 5.05 | 179 | 275 | 0.230 | |
CL22058 | 28.6 | 61.75 | 34.43 | 177 | 271 | 0.440 |
Incl. | 46.6 | 61.75 | 15.15 | 201 | 308 | 0.473 |
And | 107.0 | 157.5 | 50.5 | 191 | 293 | 0.353 |
Incl. | 107.0 | 127.0 | 20.0 | 196 | 301 | 0.359 |
and Incl. | 131.0 | 157.5 | 26.5 | 206 | 317 | 0.382 |
CL22059 | 85.8 | 201.3 | 115.5 | 177 | 271 | 0.320 |
Incl. | 85.8 | 98.54 | 12.74 | 211 | 323 | 0.457 |
and Incl. | 111.35 | 164.15 | 52.8 | 210 | 321 | 0.372 |
and Incl. | 168.25 | 201.3 | 33.05 | 183 | 281 | 0.307 |
NOTES: - 1 ppm of Sc metal equals 1.5338 ppm scandium oxide (Sc2O3) ; 1 g/t equals 1 ppm. TREO+Y includes oxides of La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb and Lu plus Y.
Table 2 – Borehole Location Table – Crater Lake Project, Quebec
Borehole | Section | Easting | Northing | Elevation | Azimuth | Dip | Length (m) | |
CL22056 | 400N | 440730 | 6133700 | 551 | 305 | -45 | 147.0 | |
CL22058 | 100N | 440685 | 6133363 | 533 | 305 | -50 | 234.0 | |
CL22059 | 600N | 440992 | 6133751 | 542 | 305 | -49 | 267.0 | |
CL22060 | 550N | 440967 | 6133713 | 541 | 305 | -50 | 267.0 | |
CL22061 | 400N | 440815 | 6133629 | 541 | 305 | -48 | 240.0 | |
CL22062 | 350N | 440780 | 6133586 | 541 | 305 | -52 | 231.0 |
QA-QC Protocol
Strict QA/QC protocols have been implemented for the Crater Lake Project, including the insertion of certified reference materials (standards), duplicates and blanks at regular intervals throughout the sequence of samples.
A total of 500 drillcore samples, including 35 QA-QC samples, were sent to Activation Laboratories Ltd. All sample preparation and analytical work will be carried out at their facilities in Ancaster, Ontario. Several analytical techniques were used to characterize the samples, which are combined at Actlabs into the analytical package “8-REE”. This package includes whole-rock and trace element analytic techniques. Whole Rock analyses are done via a lithium metaborate/tetraborate fusion inductively coupled plasma (ICP) finish. Trace elements are also analyzed by fusion ICP/MS.
The technical content in this press release was prepared, reviewed and certified by Pierre Guay, P. Geo., Imperial's Vice-President, Exploration, a Geologist and Qualified Person as defined by NI43-101.
ABOUT IMPERIAL MINING GROUP LTD.
Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.
For further information please contact:
Peter J. CashinPresident and Chief Executive OfficerPhone: +1 (514) 360-0571Email: info@imperialmgp.com |
Website: www.imperialmgp.com Twitter: @imperial_mining Facebook: Imperial Mining Group
This press release may contain forward-looking statements relating to the Company’s operations or to its business environment. Such statements are based on the Company’s operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise. Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.
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.
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d468d89-ee7f-4707-b744-1fcb294fd58d
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