MONTREAL, QUEBEC— October 9, 2019 – Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG) is pleased to announce the start of a detailed ground magnetic survey on its 100%-owned Opawica Gold project in the Abitibi region of northwestern Québec. The Opawica gold property is located 20 km east of Desmaraisville and is accessible via Highway 113 from Val d'Or to Chibougamau, Quebec, and by a network of forestry roads (Figure 1).
The program will consist of 71 line-km of detailed ground magnetic surveys. The work will aid in better characterizing the known gold-bearing structures on the property and in identifying zones of intense alteration along the NE-striking Central Gold Zone structure (see Press Release: July 23, 2019), critical factors related to known mineralization on the property. Crews are anticipated to mobilize in mid-October and this work should be completed by the end of October 2019. Abitibi Geophysics of Val d’Or, Quebec was contracted to undertake the survey work.
All results from this program will be integrated into a 3D geological and geophysical model to optimize drill target identification for Winter 2020 diamond drilling.
2019 Opawica Gold Exploration UPDATE
During summer 2019, a geological mapping and geochemical sampling program was completed on the property to better characterize known gold mineralized zones and to establish a structural model for the Central Zone (Figure 2). Zones of strong silica and carbonate alteration and wide NNE and NNW trending structures were encountered during this work. Grab sample values* over these areas were found to be highly anomalous in gold, returning up to 550 ppb in silica-carbonate altered felsic to intermediate tuffs containing up to 1% finely disseminated pyrite.
The work focused on the Central structural zone, characterized in historical drilling as a 75-150 m wide deformation and alteration corridor consisting of several shear zones with strong, pervasive carbonate, sericite, and fuchsite alteration. The mineralization is characterized as fine-grained disseminated pyrite and quartz veinlets with gold and silver and occasional visible gold (VG). Previous work on the property identified a 350-m long gold-bearing zone in the central part of the property (Central Zone). Historical drilling from the area returned up to 6.9 g/t gold (Au) over 3.8 m and 87.7 g/t Au over 1.5 m. The Central Zone has never been drill-tested below the 125 m vertical level and is open along strike.
The technical content in this press release was provided and certified by Pierre Guay, P. Geo., Imperial's Vice-President, Exploration, and Qualified Person as defined by NI 43-101. Grab sample results reported in this press release are selected samples and are not necessarily representative of the mineralization hosted on the property. Historical diamond drill results included in this release were verified by compilation and verification of available technical reports, including analytical reports, submitted to the Quebec Government for property assessment purposes. All previous drill-holes, cross-sections and analytical results were verified from the Quebec Government SIGEOM geoscientific database. No issues were observed or noted during the data validation period.
ABOUT IMPERIAL MINING GROUP LTD.
Imperial is a Canadian mineral exploration and development company focussed on the advancement of its copper-zinc, gold and technology metals properties in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.
For further information please contact:
|Peter J. Cashin
President and Chief Executive Officer
Phone: +1 (514) 360-0571
|CHF Capital Markets
Cathy Hume, CEO
Phone: +1 (416) 868-1079 x231
This press release may contain forward-looking statements relating to the Company’s operations or to its business environment. Such statements are based on the Company’s operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise. Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.
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.
Figure 1 – Opawica Gold Project, Location Map, Quebec
Figure 2 – Opawica Gold Project, Central Zone Compilation Map, Quebec