iMetal Resources Discovers New Gold Trend as Part of Multiple Gold Zones Intersected at Gowganda West During Fall 2022 Drill Program
iMetal Resources Discovers New Gold Trend as Part of Multiple
Gold Zones Intersected at Gowganda West During Fall 2022 Drill
Program
VANCOUVER, BC / ACCESSWIRE / January 17, 2023 / iMetal Resources, Inc.
(TSXV:IMR)(OTC PINK:ADTFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is
pleased to announce the assay results of the fall 2022 drill campaign at Gowganda West ("GW").
GW is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario,
contiguous to Aris Gold Corp.'s Juby Project in the Shining Tree Camp of the southern part of
the Abitibi Greenstone Gold Belt; contiguous also with the Knight project that is part of the
Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Limited.
A total of seven drill holes were completed for a total meterage of 2611m. All seven holes
intersected gold mineralization in multiple intervals. Highlights include:
Hole IMGW-22-01
• 1.00m at 0.71 grams per tonne gold, ("g/t"), from 397.0 metres
Hole IMGW-22-02
• 0.80m at 4.6 g/t, from 47.1 metres
Hole IMGW-22-03
• 6.00m at 0.52 g/t, from 245.5 metres
Hole IMGW-22-05
• 5.90m at 0.95 g/t, from 161.5 metres
Hole IMGW-22-06
• 9.00m at 0.75 g/t, from 304.0 metres
• Including 0.80m at 4.1 g/t
Hole IMGW-22-07
• 0.80m at 4.1 g/t, from 106.3 metres
The results strongly suggest all previously encountered gold zones at Gowganda West continue
along strike and up dip (towards surface), with gold trends now intersected over a strike of at
least 1000m. Equally as important, the gold system continues to grow as a new gold trend to the
east was discovered, as part of the multiple parallel gold zones encountered. The system is now
open along 500m of width, 1000m of strike and 200m of depth. Mineralization continues to
show strong similarities to the nearby Juby Deposits (which has a current resource* containing
0.77 Moz Au Indicated and 1.5 Moz Au Inferred).
"All 2022 drill holes intersected gold mineralization, supporting the Company's belief in
Gowganda West's potential to host a major gold system," commented iMetal President & CEO
Saf Dhillon. "Our location on the doorstep of the Juby deposit presents an exceptional
opportunity to drill near-surface, gold-bearing rocks in the Abitibi Greenstone Gold Belt,
adjacent to a multi-million-ounce gold deposit."
VP Exploration Scott Zelligan added, "The enhanced geological model resulting from the 2022
program places the Company in an excellent position to target higher grades and the richest
portions of the extensive regional gold system. These results bolster the Company's interest in
GW and we are planning for additional drilling in 2023. The Company is also preparing work
programs for its other Abitibi based projects."
Figure 1 - Plan Map of "Zone 1" Area with 2022 Drilling Locations
QA/QC Protocols
iMetal adheres to a strict QA/QC program for core handling, sampling, sample transportation
and analyses. Drill core will be securely transported to the rented core facility in Larder Lake
which has gate only access. Samples will be sawn in half, labelled, placed in sealed, securitized
bags and shipped directly to ALS Laboratories in Rouyn-Noranda, Quebec for analysis. ALS
Geochemistry Rouyn-Noranda is a Standards Council of Canada (SCC) accredited facility that
conforms with both CAN-P-1579 and CAN-P-4E ISO/IEC 17025.
QA/QC control procedures include the systematic insertion of duplicate, blank and certified
reference materials (CRM) at regular intervals into the sampling stream. Geochemistry analyses
will consist of gold by fire assay and atomic absorption spectrometry (Au-AA26) with overlimit
values subsequently analyzed using the gravimetric finish (Au-GRA22) technique. Where
elected select samples may be analyzed for multi-element using a four acid/inductively coupled
plasma mass spectrometry (ME-MS61) analysis.
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.
Drilling Results
Table 1 - Drillhole Locations (UTM NAD83 Zone 17N)
Hole # Easting Northing Azimuth Dip
IMGW-22-
01 503172 5269508 102 -44
IMGW-22-
02 502890 5269924 226 -49
IMGW-22-
03 502890 5269924 224 -61
IMGW-22-
04 502784 5270030 223 -45
IMGW-22-
05 502759 5270074 231 -45
IMGW-22-
06 502759 5270074 48 -43
IMGW-22-
07 502724 5270118 224 -45
Table 2 - Significant Results
Hole # From To Length Au
(g/t)
IMGW-22-
01 86.00 87.00 1.00 0.40
IMGW-22-
01 397.00 398.00 1.00 0.71
IMGW-22-
02 47.10 47.90 0.80 4.56
IMGW-22-
02 60.40 61.00 0.60 0.57
IMGW-22-
02 217.50 220.00 2.50 0.75
including 218.65 219.20 0.55 2.52
IMGW-22-
02 268.40 269.50 1.10 1.01
IMGW-22-
02 280.70 283.10 2.40 0.36
including 282.60 283.10 0.50 0.83
IMGW-22-
03 26.50 29.50 3.00 0.92
including 27.20 28.00 0.80 2.41
IMGW-22-
03 44.50 45.00 0.50 0.64
IMGW-22-
03 100.00 100.60 0.60 0.45
IMGW-22-
03 245.50 251.50 6.00 0.52
including 247.00 248.50 1.50 1.30
IMGW-22-
04 44.50 47.50 3.00 0.89
including 46.00 47.50 1.50 1.45
IMGW-22-
04 95.80 107.50 11.70 0.26
including 106.00 107.50 1.50 1.00
IMGW-22-
04 224.90 226.00 1.10 1.32
IMGW-22-
04 271.00 272.50 1.50 0.92
IMGW-22-
05 22.00 23.50 1.50 0.45
IMGW-22-
05 44.30 44.90 0.60 0.59
IMGW-22-
05 49.00 50.50 1.50 0.43
IMGW-22-
05 62.10 62.90 0.80 0.67
IMGW-22-
05 161.50 167.40 5.90 0.95
IMGW-22-
06 205.00 206.50 1.50 0.63
IMGW-22-
06 233.50 236.50 3.00 0.51
IMGW-22-
06 268.00 269.50 1.50 1.04
IMGW-22-
06 304.00 313.00 9.00 0.75
including 310.00 310.80 0.80 4.13
IMGW-22-
07 57.40 60.80 3.40 0.50
including 57.90 58.60 0.70 1.10
IMGW-22-
07 71.30 72.30 1.00 0.45
IMGW-22-
07 105.70 108.10 2.40 1.63
including 106.30 107.10 0.80 4.10
IMGW-22-
07 232.00 236.00 4.00 0.69
including 235.00 236.00 1.00 1.24
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. One of its Flagship
properties Gowganda West, is an exploration-stage gold project that borders the Juby Project 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 west of Agnico Eagle's Holt and
Holloway Mine Complex.
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.
SOURCE: iMetal Resources Inc.