While the main E zone continues to be the focus, exploration continues
on other known zones along the 5 kilometre strike length of the Ruddock
Creek Sulphide Horizon. Drilling on the Q and V zones has confirmed
zinc/lead mineralization over mineable widths over 4 kilometres west of
the E zone confirming the potential to further expand the resource. To
date on the E zone 27,496 metres of surface drilling and 19,579 metres of
underground drilling have been completed, along with 1,291 metres of
decline and 180 metres of incline driven for underground exploration
purposes.
The surface Diamond drill program further defined the Creek zone, and
tested the V and Q zones, which are located at the western end of the
Ruddock Creek Sulphide horizon. The program consisted of 17 drill holes
totalling 5,701 metres in the Creek zone, 8 drill holes totalling 3,147
metres in the V zone, and 5 drill holes totalling 1,893 metres in the Q
zone. Following are selected significant intersections:
Drill
Hole # |
From |
To |
Interval
(m) |
Estimated True
Thickness |
Zn
% |
Pb
% |
Zn+Pb
% |
Creek
Zone |
|
|
|
|
|
|
|
RD-11-211 |
316.02 |
320.50 |
4.48 |
2.69 |
7.78 |
3.04 |
10.82 |
RD-11-212 |
288.78 |
292.54 |
3.76 |
2.44 |
8.35 |
1.77 |
10.12 |
RD-11-213 |
233.92 |
242.39 |
8.47 |
7.71 |
7.32 |
1.10 |
8.42 |
including |
233.92 |
237.66 |
3.74 |
3.40 |
12.11 |
1.93 |
14.04 |
RD-11-214 |
257.36 |
260.58 |
3.22 |
1.90 |
6.11 |
1.22 |
7.33 |
and |
269.43 |
272.79 |
3.36 |
1.98 |
10.25 |
2.37 |
12.62 |
RD-11-215 |
424.33 |
432.82 |
8.49 |
6.20 |
7.32 |
1.30 |
8.62 |
RD-11-217 |
355.91 |
360.50 |
4.59 |
3.67 |
7.64 |
1.66 |
9.30 |
V
Zone |
|
|
|
|
|
|
|
RD-11-V10 |
255.78 |
272.30 |
16.52 |
13.55 |
9.62 |
1.61 |
11.23 |
including |
255.78 |
262.74 |
6.96 |
5.71 |
14.16 |
2.42 |
16.58 |
and |
268.50 |
272.30 |
3.80 |
3.12 |
12.84 |
1.93 |
14.77 |
RD-11-V13 |
250.99 |
261.41 |
10.42 |
9.27 |
5.95 |
1.05 |
7.00 |
RD-11-V14 |
458.26 |
462.55 |
4.29 |
3.47 |
13.65 |
1.90 |
15.55 |
|
479.00 |
483.35 |
4.35 |
3.52 |
7.07 |
0.02 |
7.09 |
RD-11-V15 |
265.88 |
282.37 |
16.49 |
13.52 |
4.84 |
0.92 |
5.76 |
including |
277.57 |
282.37 |
4.80 |
3.94 |
6.80 |
1.36 |
8.16 |
Q
Zone |
|
|
|
|
|
|
|
RD-11-Q7 |
384.87 |
393.51 |
8.64 |
6.83 |
6.48 |
1.04 |
7.52 |
RD-11-Q8 |
415.87 |
422.75 |
6.88 |
5.09 |
12.49 |
2.12 |
14.61 |
The surface drill program commenced in July and was completed in
mid-October 2011. The Creek zone is located 1.5 kilometres west of the E
zone outcrop, and dips continuously and predictably at 25° northwest. The
drilling to date has outlined the mineralization for 600 metres in an
east-west direction and 400 metres in a north-south direction to a
vertical depth of approximately 400 metres.
The V zone, located 3.0 kilometres west of the E zone outcrop, is a
rotated block one kilometre in strike length with mineralization striking
east-west and dipping north at -65°. This zone had only been explored
historically in 1963 with one packsack drill hole located at the extreme
western end. The 2011 program was successful in intersecting the
mineralization over a strike length of 120 metres and a vertical depth of
300 metres from surface.
The Q zone, located 4.5 kilometres west of the E zone outcrop, is
another rotated block one kilometre in strike length where the
mineralization is dipping gently northeast at approximately -30°. The Q
zone, the most westerly known mineralization, has only had sporadic
reconnaissance style exploration and drilling completed to date.
A comprehensive report will be completed in early 2012, including an
update of the National Instrument 43-101 compliant report Mineral
Resource Estimate, Ruddock Creek Deposit dated July 2009 (available
on www.imperialmetals.com).
The report will be used to determine the next phase of exploration and
development on the Ruddock Creek property.
Mitsui Mining and Smelting Co. Ltd. and Itochu Corporation have an
option to earn a 50% interest in the Ruddock Creek property. Their
commitment is to spend $14 million by March 31, 2012 to earn a 35% working
interest, with the right to spend a further $6 million by March 31, 2013
to earn an additional 15% working interest, at which point Ruddock Creek
will be held by Imperial 50%, Mitsui 30% and Itochu 20%. Imperial will
continue to operate the project through its wholly owned subsidiary
Selkirk Metals Corp.
Jim Miller-Tait, P.Geo. is the designated Qualified Person as defined
by National Instrument 43-101 for the exploration program at Ruddock Creek
and he has reviewed this news release. Samples for the drilling reported
at Ruddock Creek were analyzed at Acme Analytical Laboratories Ltd. in
Vancouver BC. A full QA/QC program using blanks, standards and duplicates
was maintained for all samples submitted to the labs.
Imperial is a mine development and operating company based in
Vancouver, British Columbia. The Company's key properties are two open pit
mines: Mount Polley copper/gold mine and Huckleberry copper/molybdenum
mine, both in British Columbia, as well as development stage Red Chris
copper/gold property in British Columbia and Sterling gold property in
Nevada.
Document available on www.imperialmetals.com:
(1) Ruddock Creek plan map
cautionary note regarding "Forward-Looking Information":
This news release contains "forward-looking statements" within the
meaning of Canadian and United States securities laws. Except for
statements of fact relating to the Company, certain information contained
herein constitutes forward-looking statements.
When we discuss current and future exploration programs, exploration
results, and expectations or assumptions based on those results, we are
making statements considered to be forward-looking information or
forward-looking statements under canadian and united states
securities laws. We refer to them in this news release as
forward-looking information. the forward-looking information in
this news release typically includes words and phrases about the future,
such as: plan, expect, forecast, intend, anticipate, estimate, budget,
scheduled, believe, may, could, would, might and will.
We can give no assurance that the forward-looking information will
prove to be accurate. It is based on a number of assumptions management
believes to be reasonable, including but not limited to: the continued
operation of the company's mining operations, that the mining operations
will operate and the mining projects will be completed in accordance with
their estimates and achieve stated production outcomes, and such other
assumptions and factors as set out herein. It is also subject to risks
associated with our business, including but not limited to: risks inherent
in the mining and metals business; commodity price fluctuations and
hedging; competition for mining properties; sale of products and future
market access; mineral reserves and recovery estimates; currency
fluctuations; interest rate risk; financing risks; environmental risks;
foreign activities; legal proceedings; and other risks that are set out in
our annual information form and management's discussion & analysis. If
our assumptions prove to be incorrect or risks materialize, our actual
results and events may vary materially from what we currently expect as
set out in this news release.
We recommend you review our annual information form and annual
management's discussion and analysis, which include a discussion of
material risks that could cause actual results to differ materially from
our current expectations. Forward-looking information is designed to help
you understand management's current views of our near and longer time
prospects, and it may not be appropriate for other purposes. We will not
necessarily update this information unless we are required to by
securities laws.