iMetal Resources Inc. releases Land Ownership Map for its Gowganda West property, Gowganda, Ontario, and retains a consultant to direct 2nd Stage Exploration programs on it.
October 17, 2017
iMetal Resources Inc. releases Land Ownership Map for its Gowganda West property, Gowganda, Ontario, and retains a consultant to direct 2nd Stage Exploration programs on it.
iMetal Resources Inc. (IMR – tsxv) - (“iMetal” or the “Company”) is pleased to release its Land Ownership Map for its Gowganda West property, located ~17km west-southwest from the town of Gowganda, Ontario, which is ~90km southwesterly from 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. The new map is available at Gowganda Map and on the iMetal website https://imetalresources.ca/ under Projects/Gowganda West. This news release should be read in conjunction with the accompanying Land Ownership Map for iMetal’s Gowganda West property (LOM/GW).
The Gowganda West property has been increased in size over the past several months through staking and acquisition from its original ~20sq km to ~105sq km. IMetal has completed a first phase exploration program of aggressive boots-on-the-ground prospecting focused on identifying new perspective targets on the property, resulting in the identification of four previously unknown gold, silver, copper, and cobalt mineralized zones. A second phase of exploration is underway. Additional prospecting, combined with channel sampling, mechanical stripping, and geophysical surveys are planned for this year with the objective of identifying drill targets for 2018. Currently, additional prospecting and channel sampling is being carried out on two of the above Zones.
To formulate and oversee the new programs, iMetal has retained the services of Mr. Mehmet Spaho, P.Geo, Spaho Mineral Exploration Consulting Inc., Toronto, Ontario. Mr. Spaho has over 30 years work experience in geology, including over seven years in Archean terrain - greenstone belts in Canada. His experience has been focused on gold and base metals deposits: exploration, mapping, development, and feasibility. Importantly, he has overseen exploration programs on several projects in the nearby vicinity of iMetal’s Gowganda West property. Having designed and implemented these programs and examined numerous showings in the Gowganda District, Mr. Spaho is completely versed in the geology related to the Gowganda West property.
Zone-1 Gold – is iMetal’s first priority gold target. Having extremely easy access, it is located ~300m from the south boundary of Tahoe Resources Inc.’s claim block that hosts its JUBY gold deposit. Tahoe has reported that the JUBY gold deposit has Indicated resources of 1.09 million ounces of gold (26.6 million tonnes at 1.28 g/t Au) and Inferred resources of 2.91 million ounces of gold (96.2 million tonnes at 0.94 g/t Au). Currently, Zone-1 is being further prospected while a channel sampling program is in progress. Results will be released after review.
Zone-3 Gold/Copper – is iMetal’s second priority target. Also with easy access, its location is shown on the accompanying LOM/GW in the southwest portion of the iMetal claim block. The metals sought are gold/copper. Currently, Zone-2 is being further prospected while a channel sampling program is in progress. Results will be released after review.
Zone-4 Cobalt/ Silver – is iMetal’s third priority target. It is shown on the accompanying LOM/GW in the southeast portion of the iMetal claim block. This showing has had very little prospecting work on it by iMetal to date. It was discovered aside of a turn-of-the-century trench, which contains cobalt-bloom alteration. iMetal plans on further prospecting and sampling this Zone while the programs on Zones 1 & 3 are in progress.
Zone-2 COPPER/GOLD – is iMetal’s fourth priority target. It is shown on the accompanying LOM/GW in the central portion of the iMetal claim block. To date, this showing has had very little prospecting work done on it by iMetal, but new programs on it will commence in the spring, 2018.
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.
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 the adequacy or accuracy of this release.
We Seek Safe Harbor
ON BEHALF OF THE BOARD OF DIRECTORS,
Brian Fagan
President & CEO, iMetal Resources Inc.
[email protected] Tel. (360) 224-7141
510-588 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca / Tel: 360-224-7141