MONTREAL, QUEBEC— May 5, 2020 – Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG) is pleased to announce that partial assay results have been received for Drillhole O-20002 (see Press Release : April 9, 2020) on its 100%-owned Opawica Gold project in the Abitibi region of northwestern Québec (Figure 1). The results confirm the presence of significant gold mineralization averaging 1.21 g/t Au over a 13.3 m core length with smaller intervals grading up to 3.11 g/t Au over 1.1 m within the Central Zone Structure.
“These partial results confirm the potential of the Central Zone shear structure which remains untested over most of its two km strike length,” said Peter Cashin, Imperial’s President & CEO. “Although unable to probe the gold structure at the intended 150 m vertical depth, geological observations in the drill core confirm a very favourable environment for economic gold deposits. Our upcoming project plans will use this new information to target further drilling to evaluate the gold potential over the entire strike length of the favourable structure. We currently await the assay results from the remaining holes completed during the program.”
Drilling was undertaken to evaluate areas of economically significant historical gold intersections (6.9 g/t Au over 3.8m and 5.1 g/t Au over 2.8m), as well as geophysical/geological targets favourable to gold concentration in the area. Of importance was the intersection, in drillhole O-20002, of an intense deformation and alteration structure containing 1% to 15% pyrite, minor pyrrhotite and occasional chalcopyrite and tourmaline. The intensity of the structural deformation, favourable alteration and sulphide mineralization observed has led Imperial staff to interpret the area as highly prospective for economic gold deposits.
The gold-bearing section sits downhole and adjacent to a moderately to strongly sericitized quartz-feldspar porphyry dyke, which is interpreted to represent an important marker horizon for the siting of gold on the property. This significant finding will be used to guide future exploration on the property moving forward. Significant assays from this first hole are reported Table 1 and in Figure 2.
(NOTE: Historical diamond drill results included in this release were obtained from data compilation and verification of available technical reports, including analytical records, 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.)
Table 1 – Reported Drillhole O-20002 Assay Results
A total of 177 samples from holes O-20001 are currently being processed by AGAT Laboratory. Hole O-20003 has yet to be logged and sampled due to the COVID-19 virus suspension of exploration activities in Quebec.
Strict QA/QC protocols have been implemented for the Opawica Project, including the insertion of certified reference materials (standards) and blanks at regular intervals throughout the sequence of samples.
A total of 216, including 11 QA-QC, samples were sent to an analytical laboratory. All sample preparation and analytical work was carried out by AGAT Laboratories at their facility in Mississauga, Ontario. Several analytical techniques were used to characterize the samples, which includes trace element (Au, Ag and As) analytic techniques. Au was analyzed by Fire Assay (ICP-OES) technique on a 30 g aliquot. Ag and As were assayed using 4-Acid digestion with an ICP-OES finish
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 National Instrument 43-101.
Imperial’s covid-19 monitoring and prevention policy
In addition, priority during these uncertain and unprecedented times is the health and well-being of Imperial’s people, the communities within it which it is located, as well as partners, contractors, outside visitors and suppliers. As such, Imperial is implementing extensive preventative measures across its offices and field operations in order to safeguard the health of our employees, while continuing to operate safely and responsibly maintain employment and exploration and development activity.
At each of our sites we remain in close contact with government authorities and continue to implement and adapt business continuity measures to mitigate and minimize any potential impacts of COVID-19 that might affect our team and our work, our communities, as well as our consultants and suppliers. Imperial is rigorously following the guidelines it has set out in its Corporate Sustainability Policy (Imperial Sustainability Policy). This policy document is available for viewing on the Corporate Governance portal on Imperial’s website (Imperial COVID-19 Monitoring and Prevention Policy).
IPG continues to monitor the circumstances at each of our locations to conscientiously operate within current COVID-19 guidelines and be aware, at the earliest opportunity, of any future developments or new government policy guidelines.
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
Website: www.imperialmgp.com ; Twitter: @imperial_mining ; Facebook: Imperial Mining Group
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, Borehole O-20002 Cross-Section