VANCOUVER, British Columbia – October 27th, 2022 – iMetal Resources, Inc. (TSX.V: IMR) (OTCBB: ADTFF) (FRANKFURT: A7V) (“iMetal” or the “Company”) is pleased to announce the completion of the fall 2022 drill campaign at Gowganda West (“GW”). GW is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario, contiguous to Aris Gold Corp.’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 Inc.
A total of seven drill holes were completed for a total meterage of 2611m. The objective of the 2022 program was to follow-up on the long gold intervals encountered in the lower sections of the westernmost drill holes from the 2019 maiden drill program: 0.37 g/t gold over 29.4 metres, 0.32 g/t gold over 30.25 metres, and 0.41 g/t gold over 19.5 metres. Identified gold targets along strike (northwest-southeast), along potential parallel trends (as seen at the adjacent Juby Project), and potential new trends were also tested as part of this drilling program. Core logging and sampling continues, and initial samples have begun to be shipped to ALS Geochemistry in Rouyn-Noranda for assaying. The first batches of assay results are expected before year end.
Saf Dhillon, Chief Executive Officer, stated: “We are extremely pleased with the smooth execution of our Fall Drilling Program at Gowganda West. DIAFOR Inc. did an extremely professional and efficient job and that allowed us to complete more drilling meters than originally anticipated. We are excited to share the assay results as soon as possible. Gowganda West is an exceptional opportunity to drill near-surface, gold-bearing rocks in the Abitibi Greenstone Gold Belt, near a multi-million-ounce gold deposit, and we look forward to analyzing these results and then commencing drilling again in the near future.”
iMetal adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses. Drill core will be securely transported to the rented core facility in Larder Lake which has gate only access. Samples will be sawn in half, labelled, placed in sealed, securitized bags and shipped directly to ALS Laboratories in Rouyn-Noranda, Quebec for analysis. ALS Geochemistry Rouyn-Noranda is a Standards Council of Canada (SCC) accredited facility that conforms with both CAN-P-1579 and CAN-P-4E ISO/IEC 17025.
QA/QC control procedures include the systematic insertion of duplicate, blank and certified reference materials (CRM) at regular intervals into the sampling stream. Geochemistry analyses will consist of gold by fire assay and atomic absorption spectrometry (Au-AA26) with overlimit values subsequently analyzed using the gravimetric finish (Au-GRA22) technique. Where elected select samples may be analyzed for multi-element using a four acid/inductively coupled plasma mass spectrometry (ME-MS61) analysis.
The scientific and technical information contained in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (British Columbia), a director 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 Project 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 west of Agnico Eagle’s Holt and Holloway Mine Complex.
ON BEHALF OF THE BOARD OF DIRECTORS,
President & CEO
iMetal Resources Inc.
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
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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.