Imetal Resources Completes Digitally- Enhanced Prospecting and New Interpretation at the Kerrs GOLD Project
iMETAL RESOURCES COMPLETES DIGITALLY- ENHANCED
PROSPECTING AND NEW INTERPRETATION AT THE KERRS GOLD
PROJECT
VANCOUVER, British Columbia – October 19th, 2023 – iMetal Resources Inc. (TSX.V: IMR )
(OTCQB: IMRFF) (FRANKFURT: A7V) (“iMetal” or the “ Company”) is pleased to announce
completion of both a digitally -enhanced prospecting (DEP) and a data reprocessing and remodeling
program at the Company’s Kerrs Gold project, which lies within the prolific Abitibi Greenstone Gold Belt
90 kilometres east-northeast of Timmins, Ontario. These programs were designed to generate new and
more precise targets for upcoming drilling programs.
Saf Dhillon, Chief Executive Officer, stated: "Our Kerrs Gold project is a highly prospective gold property
in the Abitibi Greenstone Belt. The wealth of information available has allowed us to target gold
mineralization trends that we believe have a high probability for drilling success. The presence of a
historical resource (7,041,460 tonnes grading 1.71 g/t gold yielding 386,467 ounces at a 0.5 g/t gold cut-
off) indicates to us that the project has a high potential for economic quantities of gold.”
The Kerrs Gold historical resources estimate was disclosed in "NI 43- 101 Resource Estimation on the
Kerrs Gold Deposit, Matheson, Ontario" prepared for Sheltered Oak Resources Inc. by Garth Kirkham,
P. Geo of Kirkham Geosystems Ltd., and dated June 10, 2011. The Company considers the resource
estimate relevant and reliable to drive further exploration by the Company as it was completed by a
competent Qualified Person to the standards of the day. The resource estimation methods and
parameters were as follows:
• Forty-one drill holes were utilized to interpolate the KBX Zone.
• Composite length of 2 m was chosen and composites were weighted by length.
• Sectional interpretations were wire-framed to create 3-D solids of the zones.
• Zones were coded to the composites, and the block model, to constrain the modeling process.
• Composites for the mineralized zone were used to interpolate into the blocks for each zone.
• Ordinary kriging was used as the interpolator.
• Relative elevation modeling was used to guide the ellipse orientation that accounts for the
variation in dip due to the synclinal structure.
• A minimum of two composites were used for each block and a maximum of two composites were
used per drill hole; a maximum of 12 composites were used per hole.
• A cutting factor was applied for gold with outlier composites limited to 10 g/t Au based on
cumulative frequency plots. A zero-cut-off grade was used for the manual polygonal method.
• Minesight™ Software was used to perform the block modeling and estimations.
The Kerrs historic estimate is an inferred resource as defined in National Instrumen t 43 -101. The
Company is not aware of any more recent resource estimates, though there was further drilling completed
after the historic estimate was released. The Company will need to review the historical drilling and
analyses and will need to twin a num ber of the historic holes to bring the historic estimate current. The
Company's Qualified Person has not done sufficient work to classify the historic estimate as a current
mineral resource. iMetal is not treating the historical estimate as a current mineral resource.
Figure 1 – Plan Map of Kerrs Gold Project DEP Survey
The DEP was completed by Waring Minerals Inc. UAV LiDAR was flown in order to locate outcrops on
the property for the purposes of sampling and mapping. The DEP results will be combined with previous
IP, VTEM, and drilling results to guide the next stage of exploration which will include follow -up drilling
programs. Surface samples have been reviewed by company geologists and select samples have been
submitted to ALS Laboratories in Sudbury for analysis.
The Company performed an internal audit of all historical data for Kerrs and subsequently created a new
interpretation of the gold- hosting zones to generate new drill targets. The re- interpretation discovered
several areas indicating up- dip potential from the historic resource zones. There are also previousl y
untested geophysical anomalies that represent possible parallel structures to the known mineralized
zones. In addition, the Company believes previously identified basal till anomalies have never been
properly explained by the existing discoveries.
The scientific and technical information contained in this news release has been reviewed and approved by
Scott Zelligan, P. Geo (Ontario), VP Exploration of iMetal and a qualified person as defined in National
Instrument 43-101.
Figure 2 – Plan Map of Kerrs Gold Project with Drill Targets based on New Modeling
About iMetal Resources Inc.
iMetal is a Canadian based junior exploration company focused on the exploration and development of its
portfolio of resource properties in Ontario and Quebec. The Flagship propert y Gowganda West, is an
exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the Juby
Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone
Gold Belt about 100 km south- southeast of the Timmins Gold Camp. The 665- hectare Kerrs Gold deposit
comprises a series of gold-bearing pyritized quartz vein replacement breccias with a 2011 historic resource,
90 kilometres ENE of Timmins. The 220- hectare Ghost Mountain property, 42 kilometres NE of Kirkland
Lake, lies 5 kilometres W of Agnico Eagle’s Holt and Holloway Mine.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
President & CEO
iMetal Resources Inc.
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
https://imetalresources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to be considered forward looking. Although
the Company believes the expectations expressed in such forward- looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results
or developments may differ materially from those in forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking statements include results of exploration,
variations in results of mineralization, relationships with local communities, market prices, continued
availability of capital and financing, and general economic, market or business conditions. There can be
no assurances that such statements will prove accurate and, therefore, readers are advised to rely on
their own evaluation of such uncertainties. We do not assume any obligation to update any forward-
looking statements except as required under the applicable laws.