November 23, 2018 – iMetal Resources Inc. (IMR-TSXV) (“IMR” or “the Company”) is pleased to announce that ongoing exploration at its 105 sq. km Gowganda West Property has defined highly favorable targets for upcoming first-ever drilling at Zone 3A, part of an apparent northeast trending structural corridor that extends for at least 2.4 km south of Tahoe Resources’ Juby gold deposit.
* New assay data from recent channel sampling at Zone 3A provides additional support for a potential grassroots drilling discovery;
* A system of quartz-carbonate veins, quartz stockworks and shear zones mineralized with pyrite and chalcopyrite was intersected in most of 84 new channel samples. Assays ranged in grade from geochemically anomalous to 9.96 g/t Au and varied in length from 0.7 meters to 1.25 meters (only gold assays have been completed to date);
* 15 samples assayed at least 1.3 g/t gold;
* Red jasper clasts identified elsewhere in the region near major deposits have been noted in conglomerate in Zone 3A;
* The Timiskaming-type rocks, alteration and style of mineralization at Zone 3A share similarities with the Kirkland Lake gold camp;
* An extensive logging operation at Gowganda West has helped reveal high-grade showings in outcrop over a broad area between Zone 3A and Zone 3C.
Gary Grabowski, iMetal’s Advisory Board member who served as district geologist for Ontario’s Ministry of Northern Development and Mines for more than 35 years, commented: “The Archean rocks of the Gowganda area have been underexplored and offer excellent potential for new discoveries. This is a large property that’s showing exciting possibilities at this early stage.”
Preparations are now underway to carry out a series of first-ever drill holes at Zone 3A in an attempt to determine continuity of mineralization to shallow depths.
Johan Grandin, iMetal President and CEO, commented: “IMR intends to be a leader in the reawakening of the Gowganda region which has a rich mining history. Work at Gowganda West is continuing on multiple fronts and we look forward to updating shareholders again in the very near future.”
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.
ON BEHALF OF THE BOARD OF DIRECTORS,
President & CEO
iMetal Resources Inc.