Imperial Metals Corp T.III

Red Chris exploration

[miningfundi]

PS: Can anyone explain why we keep drilling when money is scarce beyond the East zone???

NCM plans to complete its East Ridge Exploration Target (see below) in Q1 2023. The purpose is to establish a Mineral Resource outside of the planned Red Chris FS. This new Resource should significantly increse the value of Red Chris property.

At Red Chris, ongoing drilling activities at East Ridge continue to expand the footprint and confirm continuity and extensions of higher grade mineralisation.

• An Exploration Target1 has been defined for East Ridge with ranges from a lower case of approximately 170Mt @ 0.5g/t Au & 0.5% Cu for 2.8Moz Au & 0.9Mt Cu to an upper case of approximately 300Mt @ 0.4g/t Au & 0.4% Cu for 4.3Moz Au & 1.3Mt Cu. The Exploration Target is exclusive of the current published resource and relates to the portion of the deposit that has not yet been adequately drill tested. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

[temeraire]

Always appreciate your insights MF however you've added no real insight to what has been offered: exploring to see just how rich the Eastern edge can be without any commitment that the findings will: "result in the estimation of a Mineral Resource".   When times are tough and cash is in short supply this clearly comes under the heading of non critical work....

[miningfundi]

Thanks temeraire, but you may be overlooking that the Red Chris property is a joint venture between NCM (70%) and III (30%). NCM is the operator and it calls the shots. So, unless III wants to dilute (which I am sure it does not), it has to fund its share of the JV.