Vancouver, April 20th, 2020 – iMetal Resources, Inc. (TSX.V: IMR) (“iMetal” or the “Company”) is pleased to announce recent drill results in Zone 1 that include 1.39 g/t gold over 3.35 meters on the Company’s Gowganda West property located 20 km of Gowganda, Ontario and 90 km from Kirkland Lake, Ontario.
Drill Results in Zone 1
The new drill hole DDH IMGW 20-01 drilled in February, 2020 is a significant step out hole with the collar located approximately 350 meters south of the collar for DDH IMGW-19-04 that was drilled early in 2019, which intersected 1.07g/t gold over 6.65m, 0.41 g/t gold over 19.5m and 0.29 g/t gold over 34.1m (see press release May 16th, 2019).
DDH IMGW 20-01 targeted one of numerous Induced Polarization (I.P.) anomalies located on Grid #1 that were identified by Abitibi Geophysics, Inc (“Abitibi”, see press release, Oct 4th , 2019). The hole location was selected to test a near surface first priority chargeability and resistivity I.P. anomaly labeled GZ1-03b by “Abitibi”. This I. P. anomaly has a north-south strike length greater than 2 km and is several hundred meters wide. It was drilled to a depth of 302 m. Significant new intercepts in this anomaly from DDH IMGW-20-01 includes 0.69 g/t gold over 1.5m, 0.36 g/t gold over 4.25m and 1.39 g/t gold over 3.35m.
A summary of iMetal’s drill holes in Zone 1 and a geological description by Qualified Person, Dave Gamble can be found at https://imetalresources.ca/drill-results/
Proximity to the Juby Gold Deposit
iMetal Resources Inc. Grid # 1 with the 2019 and 2020 drill holes and I. P. geophysical targets extends up to the common property boundary approximately 1.0 kilometer south of Pan American Silver’s Juby deposit. This deposit is reported to contain 4M ounces of gold. The indicated resource is stated as 1,090,400 ounces of gold 26.6 million tonnes at a grade of 1.28 g/t gold. A total 2,908,800 ounces of gold in 96.2 million tonnes at a grade of 0.94 g/t gold resides in the inferred category.
Johan Grandin, President and CEO, commented: “The gold zones that include the Juby deposit as defined by Temex occur along and within the Tyrell Shear Zone that trends south-easterly and appears to strike onto iMetal’s ground. We look forward to following up this mineralized trend and drill testing this anomaly further, but also not to loose focus on the ground stretching over 7 km in length from north to south between Zone 1 to Zone 3. This area requires further exploration surface work this summer with the potential of further I.P. geophysical surveys and further drill testing of IP defined targets of which there is certainly no shortage of targets to drill test.”
Dave Gamble, P. Geo and QP, commented: “The Gowganda West gold-bearing mineralizing system characterized by extensive hydrothermal alteration and driven by quartz-feldspar porphyry dikes interpreted as a potential heat source that drives the alteration system encourages iMetal to continue geophysical surveys and drill testing targets in the >7 km long north-south gold trend from Zone 1 to Zone 3, the width of the interesting area is over 3-4 km. The drill holes so far have clearly identified the geological explanation for such anomalous I. P. target responses of both the high resistivity values that are clearly attributed to pervasive silicification and bleaching, and high chargeability values attributed to fine grained disseminated pyrite. A number of these well identified Abitibi I.P.targets will require further drill testing.”
New Listing
iMetal has recently been notified that it now is a fully US traded bulletin board OTCQB traded stock with the symbol “ADTFF”.
Quality Assurance/Quality Control
iMetal Resources employed a rigorous quality assurance/quality control program to ensure best practices for drilling at Gowganda West. Activation Laboratories Ltd. (Actlabs), ISO certified, carried out the sample analysis in its Timmins, Ont., facility. Samples were prepared using Actlabs’ RX1 sample preparation which consists of crushing the entire sample to 80 per cent and riffle splitting and pulverizing one 350- gram split to 95 per cent. A 50-gram subsample of the pulverized sample was subjected to Actlabs’ 1A2- 50 analysis (fire assay with AA finish) and any analysis over 3,000 parts per billion was reassayed using Actlabs’ 1A3-50 analysis (fire assay with gravimetric finish). Actlabs is independent of the company and has used internal quality assurance/quality control protocols.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Johan Grandin
President & CEO,
iMetal Resources Inc.
[email protected]
Tel. (604-739-9713)
510-580 Hornby St., Vancouver, BC, V6C 3B6.