Vancouver, BC, June 25th, 2019 – iMetal Resources Inc. (TSX.V: IMR) (“iMetal” or the “Company”) is pleased to announce near-term exploration activities at the Company’s 150 sq. km Gowganda West property in Ontario, which is contiguous to Pan American Silver’s 4M oz. Juby gold deposit (“Juby deposit”).
iMetal has contracted Abitibi Geophysics Inc., (“Abitibi”) to perform IP surveys using Abitibi’s proprietary OreVision® IP system. The IP survey will start at iMetal’s two primary target zones, Zone 1 South, (refer to press releases, November 28th, 2018, March 1st, 2019 and May 16th, 2019) and Zone 3A/3B (refer to press releases November 9th, 2017, January 25th, 2018, February 14th, 2018, April 23rd, 2018 and November 23rd, 2018) at Gowganda West in Ontario.
The high resolution and deep penetrating proprietary geophysical survey can penetrate down to a depth of 440 meters. The line spacing interval will be 100-meters and cover a total of 46.5 line kilometers. Deployment of the survey at these two priority zones, will help to identify immediate new drill targets at Gowganda West.
iMetal’s newly discovered Zone 1 South is just a few hundred meters south of the Juby deposit property boundary with grab and channel samples which assayed up to 39.3 g/t gold featuring a trending north-south system. This area identified by the VTEM survey target area Z-1A and confirmed by recent drilling follows an apparent geological north–south trend 6km to the south to Zone 3A/3B where high-grade gold and copper showings have been found, including grab and channel samples of up to 56.6 g/t gold and 2.6 % copper.
This summer’s exploration activities will include conducting and interpreting additional IP and identifying multiple drill targets on the Gowganda West property. With the identification of the 7 anomalies outlined by Geotech (refer to May 16th, 2019 News release), iMetal is encouraged and confident that there is a high probability of identifying 2-3 more priority targets this summer. iMetal is in regular communication with La Framboise drilling, who is eagerly awaiting IP results and have a drill rig ready to be deployed once drill targets have been finalized.
Dave Gamble, P.Geo and iMetal’s QP, commented:
“The proprietary IP surveys should provide us with immediate drill targets this summer in several locations. This is the primary geophysical survey method that was used historically to identify and explore the Juby deposit a few years ago. As we keep exploring, we see the same alteration and rock types as well as lithologies such as red jasper(s) in pebbles and boulder conglomerate from the recently identified Zone 1 South down to Zone 3A in an apparent 6 km N-S trend with secondary fault system(s) along it. We are currently sampling in the areas in between and around our geophysical targets also in the vicinity. Extensive clear cutting and logging operations at Gowganda West have been critical factors in giving us important access and also exposing new very favorable outcrop with potential for high-grade gold and copper mineralization. Our exploration team is currently working diligently, exploring and sampling in this area.”
The location of the IP surveys can be found on https://imetalresources.ca/ip/
The technical content of this news release has been reviewed and approved by Dave Gamble, P.Geo., a qualified person as defined under NI-43-101.
We seek safe Harbor.
ON BEHALF OF THE BOARD OF DIRECTORS,
President & CEO,
iMetal Resources Inc.
588-580 Hornby St., Vancouver, BC, V6C 3B6.
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604- 739-9713 or visit iMetal’s website at www.imetalresources.ca. 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.