iMetal samples 18.71 g/t Au at Gowganda
2020-09-09 06:55 ET - News Release
Mr. Johan Grandin reports
IMETAL PROVIDES UPDATE ON SUMMER EXPLORATION ACTIVITIES
iMetal Resources Inc. has provided an update on exploration activities conducted this summer.
The company recently identified additional key areas of interest at its Gowganda West project and conducted a sampling program. The primary focus, which garnered attention from the technical team, was an area evaluated previously by R. MacCallum in about 2011 on Gowganda West.
The MacCallum stripping and sampling returned 18.71 grams per tonne gold within:
- 2,000 metres north-northwest of the Juby Main zone;
- 500 m east-northeast of Juby B zone extension (0.89 g/t Au over 29.85 m including 5.85 g/t Au over 1.1 m);
- 500 m northeast of Juby B zone (2.33 g/t Au over 5.33 m, 33.74 g/t Au over 0.97 m and 1.22 g/t Au over 10.66 m);
- 1,000 m north-northeast of No. 13 zone (234 g/t Au over 1.5 m);
- 200 metres from iMetal's common boundary with Caldas Gold Corp. within the Tyrell structural zone.
Mineralization is associated with a sheared ultramafic intrusive in contact with Archean metasediments and a strongly bleached and silicified quartz porphyry with significant ankerite alteration and disseminated pyrite.
The secondary focus this summer was the extensive common eastern border with Caldas and south of the Juby Main deposit. Since discovery, significant exploration work has been performed and a large volume of data reviewed. This historic assessment work at Juby was re-evaluated and areas of anomalous gold in soil and rock in conjunction with chargeability trends and geophysical anomalies from last year's VTEM (versatile time domain electromagnetic) and IP (induced polarization) reports (see press releases dated May 16, 2019, and Oct. 4, 2019) were targeted for additional geological evaluation.
Several areas of interest have been generated with samples submitted to the lab and assays are pending.
Johan Grandin, chief executive officer of iMetal, commented: "We are very excited about this year's ongoing exploration program as we are working to identify which areas should be prioritized. The appointment of Mr. Dhillon as president and the recently announced financing will enable iMetal to complete additional exploration work such as ground geophysics, VTEM in key unexplored areas along with drilling of multiple high-priority targets. There are over a dozen priority drill targets at Gowganda West, which have been identified by Abitibi Geophysics Inc., using their proprietary OreVision IP technology, see press release dated Oct. 4, 2019. We are also very excited regarding the new developments at Ghost Mountain, where Kirkland Lake Gold and Newmont just announced a $75-million (U.S.) exploration program, with the focus being the Holt complex, see press release, Kirkland Lake Gold, Aug. 17, 2020."
Saf Dhillon, president of iMetal, commented: "I am encouraged by the previous exploration work at Gowganda West and looking forward to working with Johan to further develop this project. I am also impressed with the quality of potential at iMetal's second 100-per-cent-owned project, the Ghost Mountain property, and can't wait for further analysis of it. Ghost Mountain is contiguous on three sides by Kirkland Lake Gold and lies on the Destor-Porcupine fault system. The property consists of seven claim units (11 square kilometres) of land and straddles the gold-prolific Destor-Porcupine structure in Kirkland Lake, Ont."
About iMetal Resources Inc.
iMetal is a Canada-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. iMetal is focused on advancing its Gowganda West project that borders the Juby project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 kilometres south-southeast of the Timmins gold camp.
The company is also advancing its 100-per-cent acquired Ghost Mountain property that consists of seven claim units (11 square kilometres) of land, straddling the gold-prolific Destor-Porcupine structure in Kirkland Lake, Ont. This property is located a couple kilometres west of Kirkland Lake Gold's, Holt and Holloway mine and the Destor-Porcupine gold camp has historically produced over 70 million ounces of gold.
Wade Kornik, PGeo, has approved the technical information contained in this release. Mr. Kornik is a consulting geologist and is a qualified person as defined by National Instrument 43-101.
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