VANCOUVER,
BRITISH COLUMBIA--(Marketwire - July 22, 2010) - Imperial Metals
Corporation (TSX:III) reports significant intervals of copper/gold
mineralization in the WX zone, located south of the Springer pit at the
Company's Mount Polley property.
The WX zone
mineralized intercepts received to date have high gold to copper ratio.
Drill hole WX10-06 cut 190.0 metres grading 0.53% copper and 0.86 g/t
gold starting at 97.5 metres depth with the 40.0 metre interval below
242.5 metres depth grading 1.30% copper and 2.46 g/t gold.
In addition to high gold to copper ratio, the WX zone appears have
considerable size potential. The combined mineralized interval length
over a 421.7 metre length in drill hole WX10-08 is 362.3 metres
consisting of 55.6 metres of 0.23% copper and 0.35 g/t gold, 22.5
metres of 0.10% copper and 0.23 g/t gold and 284.2 metres of 0.30%
copper and 0.55 g/t gold.
Significant intervals from WX drilling:
--------------------------------------------------------------------------- WX Total Interval Interval Interval Drill Hole # Length (m) from (m) to (m) Length (m) Copper % Gold g/t WX10-04 413.3 279.1 360.0 80.9 0.23 0.37 WX10-05 331.0 3.1 155.0 151.9 0.16 0.35 WX10-06 450.2 97.5 287.5 190.0 0.53 0.86 including 242.5 282.5 40.0 1.30 2.46 WX10-08 552.6 87.5 143.1 55.6 0.23 0.35 and 190.0 212.5 22.5 0.10 0.23 and 225.0 509.2 284.2 0.30 0.55 ---------------------------------------------------------------------------
WX
mineralization is characterized by strong chalcopyrite with pyrite and
less commonly by chalcopyrite with bornite. The copper sulphide
mineralization occurs in brecciated intrusive, as well as unbrecciated
monzonitic host rock. The high gold to copper ratio, which is among the
highest on the Mount Polley property, is similar to the C2 zone,
located approximately 200 metres to the east. Exploration at WX zone is
ongoing.
Further drilling was also conducted in the Junction zone located to the
northwest of the Springer pit. Drill hole JZ10-52 was collared 210
metres north of the northern rim of the planned Springer pit, and
intersected 147.5 metres grading 0.21% copper and 0.21 g/t gold
starting at 160.0 metres depth. Other results include 17.5 metres of 0.26%
copper and 0.65 g/t gold in JZ10-57 and 68.7 metres of 0.26% copper and
0.30 g/t gold in JZ10-61. The Junction zone will remain an area of
interest for exploration in 2010.
Underground development to access the Boundary zone has been initiated
from a portal collared on the 876 metre bench of the Wight pit. From
this portal a 500 metre long ramp will be excavated to provide access
for further exploration and development of 517,066 tonnes grading 2.45%
copper, 1.50 g/t gold and 14.00 g/t silver of measured and indicated
Boundary/Zuke zone resource. Ramp completion is expected in the third
quarter 2010. At that time, underground exploration drilling will
commence to further define and explore the high grade breccia bodies
that exist in that area. This is the first time underground workings
have been established at Mount Polley, an important step in confirming
the feasibility of underground mining. The Boundary/Zuke zone, along
with other areas of high grade underground mineralization at Mount
Polley, may be mined to provide higher grade material to supplement the
open pit mill feed.
Two exploration drill rigs will remain active at Mount Polley until
year end. A drill plan map along with an updated table of significant
intercepts will be posted on the Company's website.
Steve Robertson, P.Geo., the designated Qualified Person as defined by
National Instrument 43-101 for the exploration programs, has reviewed
this news release. Samples for the diamond drilling reported at Mount
Polley were analyzed at the Mount Polley mine laboratory and Acme
Analytical Laboratories in Vancouver. 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.
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 copper/gold property
in northwest British Columbia, and Sterling gold property in southwest
Nevada.
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