Imperial Metals Corporation

Imperial Metals Corporation

April 12, 2010 20:00 ET

Imperial Metals Corporation: Red Chris Drilling Continues to Yield Long Intercepts of Copper Gold Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2010) - Imperial Metals Corporation (TSX:III) reports assay results from the ongoing drilling at Red Chris. Long intervals of copper/gold mineralization were intersected in all four holes reported, and drilling continues to extend the boundaries of the Red Chris deposit.

Copper/gold mineralization in drill hole RC09-353 extends for 1,135 metres, commencing earlier than anticipated at 67.5 metres below surface. The overall grade of this interval was 0.50% copper, 0.59 g/t gold and 0.01% molybdenum. The mineralized intercept in RC09-353 is distinguished as one of the longest to date at Red Chris, and the first with a significant continuous interval of molybdenum mineralization. The 145 metre interval from 1,032.5 metres to 1,177.5 metres was 0.029% molybdenum. RC09-353 was collared 220 metres northeast of the 2007 discovery drill hole 07-335 and is the most northeasterly collared drill hole in the deep East zone.

Drill hole RC09-354 was collared 26 metres southwest from 07-335 and drilled east toward drill hole RC09-350 at an angle of -71 degrees. RC09-354 was drilled to explore the connection between the strong copper/gold mineralization in 07-335 and the 152.5 metre interval grading 4.12% copper and 8.83 g/t gold in RC09-350. The upper portion of RC09-354 was strongly mineralized. A 297.4 metre section commencing 6.7 metres below surface graded 1.77% copper and 1.69 g/t gold. A further 817.5 metres grading 0.55% copper and 0.47 g/t gold was intersected commencing 480 metres below surface. RC09-354 deviated significantly to the south ending 145 metres away from its target location having failed to test the intended horizon. The mineralization in RC09-354 and RC09-350 share several common features relating to alteration and tenor of grade.

Drill hole RC10-355 was collared 440 metres west of 07-335 and 280 metres east of drill hole 07-336, a significant step out to the west of recent deep drilling. RC10-355 encountered 757.1 metres grading 0.38% copper and 0.48 g/t gold commencing 335.4 metres below surface. RC10-355 further confirms that Main zone and East zone mineralization is contiguous from just below the elevation tested by previous drilling to a depth of about 1,000 metres. RC10-355 encountered a higher grade interval at depth, with 57.5 metres grading of 0.93% copper and 1.56 g/t gold starting at 1,007.5 metres.

Drill hole RC10-360 was collared 57 metres west of RC09-350 and intersected a high grade mineralized zone similar in grade, gold/copper ratio, mineralogy and alteration to that in RC09-350. RC10-360 returned 528.7 metres, from 473.8 to 1,002.5 metres, grading 1.13% copper and 1.97 g/t gold. Assays for RC10-360 are not complete as results for the 1,002.5 to 1,267.5 metre interval are pending. The higher grade mineralization started at 607.5 metres depth and averaged 1.41% copper and 2.59 g/t gold over 355.0 metres.

Significant intervals encountered in holes RC09-353 and RC09-354, and RC10-355 and RC10-360 are provided below.

Drill Hole #
Length (m)
from (m)
To (m)
Length (m)
RC09-353 East 1287.8 67.5 1202.5 1135.0 0.50 0.59 0.71
including     570.0 1020.0 450.0 0.80 1.07 1.03
including     632.5 705.0 72.5 1.16 1.88 1.32
including     912.3 952.5 40.2 0.96 1.14 1.19
RC09-354 East 1357.6 6.7 304.1 297.4 1.77 1.69 5.23
including     6.7 120.0 113.3 2.44 1.87 7.38
and     480.0 1297.5 817.5 0.55 0.47 0.82
RC10-355 Saddle 1489.0 335.4 1092.5 757.1 0.38 0.48 1.27
including     1007.5 1065.0 57.5 0.93 1.56 4.19
RC10-360 East 1267.5 473.8 1002.5 528.7 1.13 1.97 1.99
including     607.5 962.5 355.0 1.41 2.59 2.40
including     700.0 755.8 55.8 2.00 4.22 3.25
including     802.5 952.5 150.0 1.83 3.34 3.35

Note: drill holes RC10-356 to RC10-359 are geotechnical/condemnation holes drilled in the tailings impoundment area.

The 2010 exploration program will focus on the delineation of the Red Chris mineralized system to at least 1,000 metres below surface with some holes testing to 1,500 metres. The work will initially focus on the area beneath the planned open pit where crews are expected to start work this summer in preparation for mining. Mines Act permitting through the Northwest Mine Development Review Committee is underway. Phase one of the geotechnical and condemnation drilling in the tailings impoundment area was initiated in early February, and completed in early April.

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 Red Chris access trail.

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.

Contact Information

  • Imperial Metals Corporation
    Brian Kynoch
    604.687.4030 (FAX)
    Imperial Metals Corporation
    Patrick McAndless
    Vice President
    Imperial Metals Corporation
    Sabine Goetz
    Investor Relations