Imperial Metals Corp

Published : March 02nd, 2009

Reports High Grade Results From Three Zones at Mount Polley

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Keywords :   Copper | Diamond | Gold | Molybdenum | Silver |

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Imperial Metals Corporation
TSX: III
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March 2, 2009
Imperial Reports High Grade Results From Three Zones at Mount Polley
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2009) - Imperial Metals Corporation (TSX:III) reports exploration results from the Boundary, Southeast and Northeast zones at its Mount Polley mine property. Drilling at all three areas returned significant intervals of high grade copper/gold mineralization.

Continued drilling on the recently discovered high grade, shallow-dipping extension highlighted drilling at the Boundary zone. Hole ND08-57 intersected 51.6 metres grading 1.48% copper and 0.83 g/t gold including 15.9 metres grading 3.08% copper and 1.38 g/t gold, while hole ND08-60 returned 19.8 metres grading 2.12% copper and 1.08 g/t gold. The high grade discovery, referred to as the Zuke zone, is 120 metres southeast of the main magnetite breccia at the Boundary zone. Other intersections included two high grades zones in hole ND09-66 which may link the Zuke zone back to the main magnetite breccia. These intersections measured 13.3 metres grading 2.40% copper and 2.47 g/t gold, and 35.1 metres grading 2.25% copper and 1.36 g/t gold, including a higher grade section of 12.5 metres grading 3.72% copper and 2.02 g/t gold.

The Zuke zone is presently known to be at least 90 metres in length and 60 metres wide. Mineralization had been previously intersected in drillholes ND06-23, ND06-26 and ND08-56 but the size and grade potential had not been fully appreciated until this most recent phase of drilling. Hole ND09-67 is the tenth Diamond drill hole to have one or more high grade intercepts in the Zuke zone. It returned 19.1 metres grading 2.09% copper and 1.19 g/t gold, including 11.6 metres grading 2.95% copper and 1.56 g/t gold.

Beneath the main Boundary zone breccia, additional mineralization was intersected in two intervals in hole ND09-63 which returned 25.0 metres grading 1.00% copper and 0.84 g/t gold, and a deeper zone of 67.5 metres grading 1.19% copper and 0.71 g/t gold.

In the Pond zone area of the Southeast zone, hole PZ08-28 intersected additional skarn(1) mineralization over 31.3 metres grading 1.97% copper and 0.22 g/t gold, including a 9.7 metre section grading 5.57% copper and 0.36 g/t gold. Hole PZ08-32 intersected 11.0 metres of 1.30% copper and 0.32 g/t gold.

At the Northeast zone (below the Wight pit) a single drill hole, WB08-252, tested a structural triple junction where two major faults were projected to intersect the western extension of the high grade Green zone (discovered in 2004). Although the hole deviated off-line while being drilled and is about 50.0 metres above the targeted elevation, it successfully intercepted 20.9 metres grading 0.77% copper, 0.13 g/t gold and 3.85 g/t silver, which included a small but significant 3.5 metres grading 2.06% copper, 0.23 g/t gold and 9.42 g/t silver. When mining activity ceases in the Wight pit next quarter, exploration drilling will be launched from the bottom of the pit which will be a tremendous logistical advantage in targeting this area of high grade and potentially underground mineable copper/gold mineralization.

Ongoing exploration will focus on locating high grade ore to replace the high grade Wight pit mill feed that has been mined for the past three years. The Pond zone is one of the high grade discoveries expected to be in production by year end. Recent exploration at the Boundary zone proved significant potential at depth. Drilling at the Boundary zone, including the new Zuke zone, will be a high priority during the upcoming phase of exploration.

(1) Skarn mineralization is mineralization in a metamorphic zone developed along the contact area where igneous rocks contact carbonate sedimentary rocks. The sedimentary rock, limestone in this case, was invaded by hydrothermal fluids bearing copper and other elements that originated from the nearby igneous rock mass. This is the only area on the Mount Polley property where this type of mineralization has been discovered to date, and it represents a new target type at Mount Polley.

---------------------------------------------------------------------------
                     Total                    Interval
Drill               Length  Interval Interval   Length Copper   Gold Silver
Hole #     Zone         (m)  from (m)   to (m)      (m)     %    g/t    g/t
ND08-57    Boundary  361.8     243.4    295.0     51.6   1.48   0.83      -
including                      271.6    287.5     15.9   3.08   1.38      -
ND08-60    Boundary  328.3     240.2    260.0     19.8   2.12   1.08      -
ND08-63    Boundary  532.5     172.5    197.5     25.0   1.00   0.84   5.55
and                            222.5    290.0     67.5   1.19   0.71   6.64
ND08-64    Boundary  324.6     219.5    276.8     57.3   2.11   1.25  13.14
including                      236.0    263.0     27.0   3.29   1.88  17.89
ND09-66    Boundary  623.9     276.8    290.0     13.3   2.40   2.47  16.76
and                            322.4    357.5     35.1   2.25   1.36   8.53
including                      342.5    355.0     12.5   3.72   2.02  15.96
PZ08-28    Pond      297.8     240.0    271.3     31.3   1.97   0.22      -
including                      261.6    271.3      9.7   5.57   0.36      -
PZ08-32    Pond      246.0     125.0    136.0     11.0   1.30   0.32      -
WB08-252   Northeast 392.3     321.2    342.1     20.9   0.77   0.13   3.85
including                      329.4    332.9      3.5   2.06   0.23   9.42
---------------------------------------------------------------------------
 
Steve Robertson, P.Geo. is the designated Qualified Person as defined by National Instrument 43-101 for the exploration programs. Samples for the Diamond drilling reported at Mount Polley were analyzed at the Mount Polley mine laboratory and Acme Analytical Laboratories in Vancouver. As silver has become a more significant commodity in the Boundary and Pond zone exploration, samples analyzed at Mount Polley will be sent to Acme Lab for silver analysis. A full QA/QC program using blanks, standards and duplicates was maintained for all samples submitted to the labs. The porphyry and breccia related deposits at Mount Polley are irregular in shape and true thicknesses have not been estimated.

Drill plan, section maps and an updated drill assay table will be available on Imperial's website.

Imperial is a mine development and operating company based in Vancouver, British Columbia. The Company's key properties are the Mount Polley open pit copper/gold producing mine in central British Columbia, the Huckleberry open pit copper/molybdenum producing mine in northern British Columbia, the development stage Red Chris property in northwest British Columbia, and the exploration stage Sterling gold property in southwest Nevada.

CONTACT INFORMATION:

Imperial Metals Corporation
Brian Kynoch
President
(604) 669-8959

or

Imperial Metals Corporation
Patrick McAndless
Vice President Exploration
(604) 488-2665

or

Imperial Metals Corporation
Sabine Goetz
Investor Relations
(604) 488-2657
Email: info@imperialmetals.com
Website: www.imperialmetals.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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Imperial Metals Corp

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CODE : III.TO
ISIN : CA4528921022
CUSIP : 452892102
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Imperial is a producing zinc and lead company based in Canada.

Imperial produces zinc, lead, copper, diamonds, gold, molybdenum and silver in Canada, develops copper and gold in Canada, and holds various exploration projects in Canada.

Its main assets in production are HUCKLEBERRY, MOUNT POLLEY, PORCHER ISLAND and STERLING in Canada, its main asset in development is RED CHRIS in Canada and its main exploration properties are BEAR, NAK, SHERATON-TIMMINS, ROBB LAKE, LJ, KNEB, GHOST PROPERTY, INDATA, WASI CREEK, GIANT COPPER, RUDDOCK CREEK, CATFACE, BALDWIN-MCVICAR, THE CENTURY and FANDORA in Canada.

Imperial is listed in Canada and in United States of America. Its market capitalisation is CA$ 249.9 millions as of today (US$ 185.5 millions, € 165.8 millions).

Its stock quote reached its lowest recent point on November 29, 2002 at CA$ 0.15, and its highest recent level on July 17, 2015 at CA$ 9.98.

Imperial has 93 590 000 shares outstanding.

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TORONTO (III.TO)Other OTC (IPMLF)
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