VANCOUVER, British Columbia – March 2nd, 2023 – iMetal Resources, Inc. (TSX.V: IMR) (OTCBB: ADTFF) (FRANKFURT: A7V) (“iMetal” or the “Company”) is pleased to announce 2023 Phase One exploration plans for the Company’s Gowganda West and Ghost Mountain projects; both lie within the prolific Abitibi Greenstone Gold Belt.
Saf Dhillon, Chief Executive Officer, stated: “Along with our flagship Gowganda West project, iMetal is focused on building shareholder value by bringing our other gold assets forward to the drilling stage by utilizing some of the modern exploration methods. The Abitibi Greenstone Belt is one of the most prolific gold areas in the World and our technical team believes our properties are ideally located to offer excellent opportunities for a major discovery.”
The Company is in the final planning stages for the next phase of drilling at Gowganda West, scheduled for the second half of March. Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario, contiguous to Aris Mining’s Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; contiguous also with the Knight project that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Ltd. iMetal completed a 2611 m drilling program in the fall of 2022 which intersected a new gold trend. The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.
The Company has engaged Waring Minerals Inc. to undertake a Digitally Enhanced Prospecting program at Ghost Mountain, utilizing UAV LiDAR and onsite analysis to find outcrops for the purposes of sampling and mapping. This program is scheduled to commence the first week of March. Ghost Mountain is a 220-hectare property, 42 km NE of Kirkland Lake, which lies 5 km directly west of Agnico Eagle’s Holt and Holloway Mine and within 1 km of the Porcupine-Destor Fault Zone.
The scientific and technical information contained in this news release has been reviewed and approved by Scott Zelligan, P. Geo (Ontario), VP Exploration of iMetal and a qualified person as defined in National Instrument 43-101.
About iMetal Resources Inc.
iMetal is a Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. One of its Flagship properties Gowganda West, is an exploration-stage gold project that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 665-hectare Kerrs Gold deposit comprises a series of gold-bearing pyritized quartz vein replacement breccias with a 2011 historic resource, 90 kilometres ENE of Timmins. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle’s Holt and Holloway Mine.
ON BEHALF OF THE BOARD OF DIRECTORS,
President & CEO
iMetal Resources Inc.
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
Neither the 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.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include results of exploration, variations in results of mineralization, relationships with local communities, market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.