Imperial Provides Update on Red Chris Exploration

2022-03-22 / @nasdaq

VANCOUVER, British Columbia, March 22, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports that eight drill rigs are now operating at Red Chris with five focusing on East Ridge exploration and three gathering geotechnical information for infrastructure related to the development of a block cave.

Hole RC750W was drilled in the East Ridge zone. The East Ridge zone is outside of the current Mineral Resource estimate. Hole RC750W, which is located approximately 100 metres beneath RC739, intercepted 166 metres of 0.33% copper and 0.26 g/t gold from 1194 metres and 96 metres of 0.61% copper and 0.77 g/t gold from 1454 metres including 46 metres of 1.0% copper and 1.3 g/t gold from 1502 metres. Hole RC750W also intercepted 82 metres of 0.61% copper and 0.69g/t gold from 1578 metres.

Drill holes RC753, RC765 and RC775 were collared at the western edge of the Main Zone pit and continue to expand the Main Zone mineralization west towards the Gully Zone. All three holes intersected wide zones of mineralization, with RC753 hitting 364 metres of 0.31% copper and 0.29 g/t gold beginning at a relatively shallow depth of 108 metres from surface. Results from RC765 include higher grade intervals of 56 metres of 0.78% copper and 0.72 g/t gold within a larger interval of 294 metres grading 0.29% copper and 0.30 g/t gold and 40 metres of 0.54% copper and 0.62 g/t gold within 132 metres grading 0.37% copper and 0.39 g/t gold.

These results continue to illustrate the potential to outline additional higher-grade zones within the Main Zone.

Drill Holes	From (m)	To (m)	Width (m)	Copper (%)	Gold (g/t)
East Ridge:
RC750W	1194	1360	166	0.33	0.26
and	1454	1550	96	0.61	0.77
Including	1502	1548	46	1.0	1.3
and	1578	1660	82	0.61	0.69
Main Zone:
RC753	120	484	364	0.31	0.29
RC765	254	304	50	0.36	0.32
and	316	610	294	0.29	0.30
including	456	512	56	0.78	0.72
and	720	852	132	0.37	0.39
including	764	804	40	0.54	0.62
RC775	396	614	218	0.26	0.30
including	560	598	38	0.30	0.53

The exploration decline has now progressed to 1,000 metres as of March 10, 2022. Key supporting infrastructure for the decline has been established, including underground heating, underground pumping station, workshop, warehouse and changeroom

Jim Miller-Tait, P.Geo., Imperial VP Exploration, is the designated Qualified Person as defined by National Instrument 43-101 for the Red Chris exploration program and has reviewed this news release. Red Chris samples for the 2021 drilling reported were analysed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs. Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.

Illustrative drawings and drillhole data are available on imperialmetals.com.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

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Certain information contained in this news release are not statements of historical fact and are “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, statements regarding the Company’s expectations and timing with respect to current and planned drilling programs at Red Chris, including plans to define the mineralization at the Main Zone pit and Gully Zone; the potential for outlining additional mining areas near the Main Zone pit and Gully Zone; and the continued progression of the exploration decline and block cave development.

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