iMetal Resources Inc. discovers High-Grade Gold / Copper in Stockwork assaying 9.47 g/t Gold and 1.4% Copper across 1.5 meters at Zone 3A on its Gowganda West Property – 90km southwest of Kirkland
January 25, 2018
iMetal Resources Inc. discovers High-Grade Gold / Copper in Stockwork assaying 9.47 g/t Gold and 1.4% Copper across 1.5 meters at Zone 3A on its Gowganda West Property – 90km southwest of Kirkland Lake, Ontario.
iMetal Resources Inc. (IMR – tsxv) (“iMetal” or the company) is pleased to announce initial results from its first phase winter program from its Gowganda West property in northwestern Ontario. This news release is best read in conjunction with iMetal’s Land Ownership Map available at the company’s website at www.iMetalResources.ca.
Zone-3 Stockwork Gold Mineralization
Recent exploration on Zone-3A on the Gowganda West property has discovered a high-grade zone of gold and copper mineralization. Gold and Copper mineralization occurs in a stockwork consisting of multi-directional quartz veins and stringers of variable widths.
The Zone-3A stockwork was uncovered by hand trenching and exposed for 10m in width and 20m in length. High-grade assays were obtained from channel sampled quartz veins in Zone 3A. These include 23.67 g/t gold across 30cm and 4.70 g/t gold across 60cm.
The Company has previously announced high-grade gold assay results from Zone-3B (see press release November 9th, 2017). This Zone is approximately 300 meters northeast of Zone-3A, in a similar geological setting. Assay results from chip samples of mineralized quartz veins at this location included 56.4 g/t gold and 2.58% copper. Channel samples from newly discovered and exposed quartz veins at Zone-3B assayed up to 5.30 g/t gold across 0.5 metres. Additional channel samples collected from mineralized quartz veins in Zone-3B and 3A have been submitted to the lab; results are pending.
Ongoing exploration at Zone-3 will be directed by iMetal’s Exploration Manager, Tom O’Connor, with the goal of expanding Zones 3A and 3B and determining whether they are two separate portions of the same Zone. Additional channel sampling and plugger-hole outcrop blasting is now being carried out to expose the newly discovered Zone-3 stockwork and vein systems in preparation for planned line cutting, geophysical surveys and diamond drill testing.
Zone-1 Ongoing Exploration
Zone-1 occurs 5km north of Zone-3 in a similar geological setting. Exploration approximately 400m to the west of Zone-1 documented mineralized quartz veins, from which one outcrop chip sample was collected. The sample assayed 0.56 g/t gold (see press release October 30th, 2017) suggesting potential for additional structurally-controlled gold mineralization in this area. Zone-1 is approximately 900 meters south of Tahoe Resources’ 43-101 4M oz JUBY Gold deposit.
Zone-1 has been exposed for approximately 300 meters in a north/south direction. A channel sampling program designed to assess the Zone-1 area is planned for in the upcoming weeks. Based on positive sampling results further work will be followed up with line cutting, IP surveys and diamond drilling.
Infrastructure Development and Permitting
The winter exploration program is in full gear. Permits for geophysical surveys and drilling are being finalized for submission. Active logging in the exploration areas of interest has resulted in improved access to Zones 1, 3, and 4. Very recently completed timber haulage roads and a major river crossing bridge now provides easy access to those zones. This has significantly reduced travel time to the Zones as well as making it possible to move major pieces of machinery such as diamond drill rigs onto the Zones. This timely infrastructure development provides iMetal with a much-improved cost-effective approach to Gowganda West exploration.
The technical content of this Press Release has been reviewed and approved by Mark Fedikow, Ph.D. P.Geo., a qualified person as defined under NI 43-101.
This Press Release was prepared by iMetal Resources Inc. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed nor accepts responsibility for he adequacy or accuracy of this release.
We Seek Safe Harbor.
ON BEHALF OF THE BOARD OF DIRECTORS,
Brian Fagan
President & CEO, iMetal Resources Inc.
510 – 580 Hornby St., Vancouver, BC, V6C 3B6 Tel. (604) 739-9713 Trading Symbol (IMR – tsxv)