iMetal Resources Inc. Expands Zone 3 Quartz Stockwork with assays up to 10.71g/mt gold and 0.50% copper and documents 0.68% cobalt from historic trenches at Gowganda West, Ontario.

2018-04-23 / @thenewswire

(TheNewswire)

Vancouver, British Columbia / TheNewswire / April 23, 2018 - iMetal Resources Inc. (IMR – tsxv) (“IMR” or the company) is pleased to announce assay results from its ongoing winter exploration program at Gowganda West in Northern Ontario.

Prospecting in the vicinity of Zone 3A has expanded the high-grade gold-copper quartz vein stockwork for 70 meters towards Zone 3B. The vein system consists of up to 2-meter-wide veins. Additional historic trenches discovered in the area provide additional evidence for the extension of Zone 3A stockwork towards Zone 3B for at least 300 meters. Mineralization in the stockwork is consistent and characterized by disseminated chalcopyrite with malachite stain and pyrite. Gold and copper assays from channel samples collected from the extension have maximum values of up to 10.71g/Mt gold over 0.5 meters and 0.50% copper over 0.3-meters from eight samples. Results from this latest round of sampling are summarized in Table 1 below. The close correspondence between the recommended values for the standards in Table 1 with those received from the assay laboratory indicate the assays are accurate. The close correspondence between the recommended values for the standards in Table 1 with those received from the assay laboratory indicate the assays are accurate.

Table 1. Summary of channel assay results from Zone 3 extension, Gowganda West.

---------------------------------------------------------------------------- |Sample Number |Gold |Gold |Copper| |--------------------------------------------------------------------------| | |FA-AAS (g/Mt) |FA-GRAV (g/Mt)|AR-AAS| | | | |(%) | |--------------------------------------------------------------------------| | | | | | |--------------------------------------------------------------------------| |6701 over 0.3 m |8.55 |9.37 |0.505 | |--------------------------------------------------------------------------| |6702 over 1 m |0.01 | |0.002 | |--------------------------------------------------------------------------| |6703 over 0.75 m |0.87 | |0.003 | |--------------------------------------------------------------------------| |6704 over 0.75 m |0.01 | |0.007 | |--------------------------------------------------------------------------| |6705 over 0.75 m |0.02 | |0.005 | |--------------------------------------------------------------------------| |6706 over 0.5 m |10.71 |9.61 |0.007 | |--------------------------------------------------------------------------| |6707 over 1.1 m |0.05 | |0.004 | |--------------------------------------------------------------------------| |6708 over 0.5 m |2.78 | | | |--------------------------------------------------------------------------| | | | | | |--------------------------------------------------------------------------| |Blank Value |<0.02 | | | | | <0.01 | | | |Observed/Reported | | | | |--------------------------------------------------------------------------| | | | | | |--------------------------------------------------------------------------| |Standard OxH139 Observed/Reported|1.29 | | | | | | | | | | 1.31 | | | |--------------------------------------------------------------------------| |Recommended Value OxH139 |1.31 | | | |--------------------------------------------------------------------------| | | | | | |--------------------------------------------------------------------------| |Standard OxL118 | |5.87 | | | | | | | |Observed/Reported | | 5.87 | | |--------------------------------------------------------------------------| |Recommended Value OxL118 | |5.82 | | ----------------------------------------------------------------------------

In the Mosher Lake area IMR is in the process of assessing mineralization exposed in historic trenches in this area. Limited grab sampling documents up to 0.68% cobalt. Further work is planned to appreciate the nature of the cobalt mineralization in these trenches and will be reported upon in future news releases.

Table 2. Summary of assay results from Mosher Lake, Gowganda West.

--------------------------------------------------- |Sample Number |Copper |Silver | |-------------------------------------------------| |Number |AR-AAS (%)|AR-AAS(g/Mt)| |-------------------------------------------------| | | | | |-------------------------------------------------| |5594 |0.675 |8.5 | |-------------------------------------------------| |5301 |0.006 |0.3 | |-------------------------------------------------| |5302 |0.006 |<0.2 | |-------------------------------------------------| |5303 |0.005 |0.4 | |-------------------------------------------------| |5304 |0.025 |1 | |-------------------------------------------------| |6709 |0.015 |4.4 | |-------------------------------------------------| |5305 |0.007 |1.4 | |-------------------------------------------------| | | | | |-------------------------------------------------| |Standard PTC-1b |0.318 | | | | | | | Observed/Reported | 0.318 | | |-------------------------------------------------| |Recommended Value PTC-1b|0.330 | | ---------------------------------------------------

The winter program at Gowganda is ongoing with prospecting, channel and rock sampling. Geophysics (induced polarization) and drill permits to assess the Zone 3 mineralization in three dimensions will also be submitted this week to the MDON. Access to the Zone 3 area has been facilitated by a recently constructed winter road built to assist timbering. This road also provides access to the Company’s Zone 1 and Zone 4 target area.

Results from the upcoming spring program will be released upon receipt in Company press releases.

A previously published (February 5, 2018) “GWP Sample Results” map can be reviewed on the iMetal website at: https://imetalresources.ca/gowganda-west/gowganda-west-maps/

The technical content of this Press Release has been reviewed and approved by Mark Fedikow, Ph.D. P.Geo., a qualified person as defined under NI 43-101.

This Press Release was prepared by iMetal Resources Inc. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed nor accepts responsibility for the adequacy or accuracy of this release.

We Seek Safe Harbor.

ON BEHALF OF THE BOARD OF DIRECTORS,

Brian Fagan

President & CEO, iMetal Resources Inc.