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VANCOUVER, BRITISH COLUMBIA--(Marketwire -
Nov. 9, 2009) - The following corrects and replaces the release sent
earlier today at 6:07 pm ET. The correction involves only the drill
data in the table.
Imperial Metals Corporation (TSX:III) reports partial results from the
sixth and seventh drill holes of the 2009 deep drilling program at the
Red Chris copper/gold property in northwest British Columbia.
RC09-350 returned 152.5 metres grading 4.12% copper and 8.83 g/t gold
starting at a depth of 540.0 metres. The vertical hole was collared
approximately 170 metres northeast of drill hole (2007) RC07-335 (NR
Oct 16/07: RC07-335 returned 1,024.1 metres grading 1.01% copper, 1.26
g/t gold and 3.92 g/t silver). The strong gold to copper ratio in
RC09-350 is consistent with other drill intercepts from the eastern
side of the deep East zone, however this is the highest grade intercept
over an interval of that scale on the property to date. Of the 62 assay
intervals in the 152.5 metre run, only six returned less than 2.0%
copper and only four of the intervals returned less than 4.0 grams per
tonne gold. At the time of this release, this drill hole is still in
progress nearing its 1,500 metre target depth. Full results for drill
hole RC09-350 will be released when all data have been received from
the laboratory.
The upper portion of drill hole RC09-350 is consistently mineralized
with low grade to sub-economic copper and gold grades. The upper 220.0
metres of the drill hole lies within the planned pit and averages 0.17%
copper and 0.12 g/t gold, explaining why this area had not been
previously tested to depth. The high grade results returned below 540.0
metres add to the evolving model of a larger and higher grade deposit
at depth. Drill hole RC09-350 is the most easterly of the drilling that
has been completed on the deep East zone target. Copper mineralization
is hosted in an intensely quartz flooded, veined and stock-worked
portion of the Red Stock and is open for expansion to the north and
east. The copper hosting mineralogy over the 152.5 metre interval
immediately below 540.0 metres is almost exclusively chalcopyrite, with
only minor bornite observed. In contrast, most high grade copper/gold
intervals observed on the western portion of the deep East zone host
significant and sometimes dominant bornite.
Partial results to 927.5 metres depth are also available for drill hole
RC09-349 which was collared 110 metres to the northeast of RC07-335.
Drill hole RC09-349 intercepted 537.5 metres grading 0.86% copper and
0.99 g/t gold mineralization from 390.0 metres depth. Similar to hole
RC09-350, RC09-349 was collared within the perimeter of the proposed
pit but the 242.5 metres drilled within the pit limits did not
encounter any intervals of greater than 0.2% copper. This hole has been
completed and final results are expected from the lab soon.
The significant intervals encountered in the two holes are provided
below.
-------------------------------------------------------------------------- Total Interval Interval Interval Drill Length from To Length Copper Gold Silver Hole # Zone (m) (m) (m) (m) % g/t g/t RC09-349 East 1150.6 390.0 927.5 537.5 0.86 0.99 1.14 866.6 919.9 53.3 1.83 2.62 2.60 RC09-350 East in progress 390.0 715.0 325.0 2.24 4.52 5.28 540.0 692.5 152.5 4.12 8.83 10.45 --------------------------------------------------------------------------
The
2009 drill program continues with drill holes RC09-350 and 351 in
progress at the time of this release. The Company expects to have
completed eight holes (RC09-345 to RC09-352) in the current program
prior to the winter break. Drilling of the deep East zone and other
targets will resume early 2010. When RC09-351 is completed, a 400 metre
strike length of the favourable unit in the East zone will have been
tested to depth between it and RC09-350.
Steve Robertson, PGeo. is the Qualified Person as defined by National
Instrument 43-101 for the exploration program at Red Chris. Samples for
the diamond drilling reported at Red Chris were analyzed at 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 deeper portion of the Red Chris porphyry
mineralization is in the early stage of exploration and may be
irregular in shape so true thicknesses have not been estimated. A drill
plan and cross section will be available on the Company's website.
The Red Chris property in northern British Columbia is situated 18
kilometres southeast of the village of Iskut. Access to the property
from pavement at Highway 37 is six kilometres along the Ealue Lake
Road, and 17 kilometres along the newly constructed Red Chris access
road.
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 the development stage Sterling gold
property in southwest Nevada.
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