Imperial Reports Drilling Intersects 21.7 metres grading 16.99% zinc and 3.44% lead and 2.41g/t silver at Ruddock Creek

Wednesday, 19. September 2018 20:04

VANCOUVER, British Columbia, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (“Imperial” or the “Company”) (TSX:III) reports results from RD-18-V41, the first surface diamond drill hole of a planned three hole program targeting the deep extension of the V-Zone at the Ruddock Creek Project.

Highlights include 21.7 metres grading 16.99% zinc and 3.44% lead and 2.41g/t silver, which included 10.4 metres grading 25.70% zinc and 5.41% lead and 3.44 g/t silver. The drill hole targeted the V-Zone mineralization 425 metres below surface and about 300 metres below the deepest previous mineralized intercept in the zone.  Drill hole RD-18-V41 was collared near the valley floor of Oliver Creek at an elevation of approximately 1,191 metres above sea level and drilled to a final depth of 828.8 metres.

The V-Zone is located near the western edge of the Ruddock Creek massive sulphide horizons, which have an indicated strike length of about five kilometers, and is approximately two kilometers west of the Creek Zone, the nearest zone of detailed drilling.  Little or no exploration drilling has been conducted along the intervening section of the horizon. The V zone strikes east west and dips at about 70 degrees to the north. The zone had been traced with surface showings and by shallow drilling for a horizontal distance of about 700 metres, and with this recent intersection to a depth of approximately 425 metres.

Following are the assays from the mineralization intersected in RD-18-V41:

Hole #Total
Length
(m)
Interval
from (m)
Interval
To (m)
Interval
Length
(m)
Estimated
True
Thickness
(m)
Zinc
(%)
Lead
(%)
Silver
(g/t)
RD-18-V41828.8751.5784.432.932.712.012.471.74
including 751.5773.221.721.516.993.442.41
and 756.9767.310.410.325.705.413.44

Due to the steep terrain long, nearly flat drill holes from near the valley bottom were designed to test the zone at depth.  Hole RD-18-V41 was drilled using an underground diamond drill rig bolted to a road accessible cliff face at an azimuth of 27 degrees and a dip of plus 10 degrees.  Core size was HQ to a depth of 450m when the core size was reduced to NQ size, the hole was drilled to a final depth of 828.8 metres.

The decision to drill test the V-Zone at such a depth beneath the nearest intercept was supported by the highly predictable nature of the zinc-lead mineralization intercepted in the shallower helicopter supported surface diamond drill holes, electromagnetic and magnetic geophysical anomalies, and a re-interpretation of the geology.  The V Zone in hole RD-18-V41, which was projected to be intersected at a depth of 750 metres, was intercepted at 751.5 metres confirming the anticipated predictability of the zone at depth. The highest grades previously intersected in the V Zone were in holes RD-12-V38, which intercepted 17.77% zinc and 3.72% lead over a true width of approximately 7.6 metres and RD-12-V40, which intercepted 10.00% zinc and 1.80% lead over a true width of approximately 10.9 metres.

The second drill hole being completed from the same setup, currently at about 700 metres, is at the same azimuth of 27 degrees as hole RD-18-V41 but started at a dip of minus 10 degrees targeting the mineralization approximately 275 metres below the intercept in RD-18-V41.  A second drill has recently been set up on the same drill pad and is drilling a flat hole aimed to intersect the V-Zone between and southeast of the targeted V-Zone intersections first two drill holes.

A drill section may be viewed on the Company’s website at https://www.imperialmetals.com/projects/ruddock-creek/maps-and-diagrams.

The Ruddock Creek Project is operated by way of a Joint Venture with Imperial, Mitsui Mining and Smelting Co. Ltd. and Itochu Corporation. Imperial operates the project through its wholly owned subsidiary Ruddock Creek Mining Corporation.  Japan Oil, Gas and Metals National Corporation (“JOGMEC”) has agreed to fund Imperial’s share of the 2018 drilling program and upon the completion of the program has the assignable right to be vested in an approximate 1.57% Participating Interest in the Joint Venture. At that time Imperial’s interest will be reduced to approximately 48.43%.

Jim Miller-Tait, P.Geo., VP Exploration is the designated Qualified Person as defined by National Instrument 43-101 for the exploration program and has reviewed this news release.  Ruddock Creek samples for the 2018 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.

About Imperial

Imperial is a Vancouver exploration, mine development and operating company. The Company, through its subsidiaries, owns the Red Chris, Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds an interest in the Ruddock Creek lead/zinc property.

Company Contacts

Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Sabine Goetz | Shareholder Communications | 604.488.2657 | investor@imperialmetals.com

Forward-Looking Information and Risks Notice

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 relating to: the Ruddock Creek Project drill program that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans; and the assignable right held by JOGMEC to be vested in an approximate 1.57% Participating Interest in the Joint Venture upon the completion of the Ruddock Creek Project’s 2018 drilling program. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in ore reserves, grade or recovery rates; accidents; dependence on key personnel; availability of drill rigs and other equipment and infrastructure required for the development of mining projects; accuracy of any mineral resources; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; political stability, civil disobedience, the presence of protests and/or blockades; counterparty risks associated with sales of our metals; changes in general economic conditions; currency exchange rates and interest rates; increased operating and capital costs; and other risks of the mining industry as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review at imperialmetals.com and sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.

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