Imperial Metals Corporation

Imperial Metals Corporation

October 16, 2007 16:06 ET

Over One Kilometre Grading 1.01% Copper and 1.26 g/t Gold Intercepted at Imperial's Red Chris Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Imperial Metals Corporation (TSX:III) reports additional assay results for hole RC07-335, drilled vertically in the East Zone at the Company's Red Chris project.

The mineralized intersection in hole RC07-335, the longest in the Company's history, graded 1.01% copper, 1.26 g/t gold and 3.92 g/t silver over 1024.1 metres. The hole bottomed in strong mineralization. Results of the first 825.7 metres of this hole were released on August 14, 2007. The mineralization in RC07-335, drilled in the core of the East Zone, is continuous from bedrock surface and extends at least 679 vertical metres below the currently designed open pit.

A vertical hole (RC07-336) was drilled in the core of the Main Zone intersecting 996.4 metres grading 0.4% copper, 0.38 g/t gold and 1.29 g/t silver. Hole RC07-336 also bottomed in mineralization.

Both holes demonstrate the Red Chris mineral system is much more extensive at depth than previously outlined.

A total of six holes were completed in the 2007 drill program; two on the Main Zone and four on the East Zone. The 2007 drilling represents the deepest penetration of the Red Chris deposit and the results provide encouragement regarding the ultimate size and grade of this copper/gold system. Results to date are listed in the table below. Results from the final four holes are pending and will be released upon receipt.

Total Interval Interval Interval
Drill Length from To Length Copper Gold Silver
Hole # (m) (m) (m) (m) % g/t g/t
RC07-335 1029.0 4.9 1029.0 1024.1 1.01 1.26 3.92
including 7.5 247.5 240 1.84 1.74 6.21
including 827.5 1029 201.5 0.73 1.22 3.58
RC07-336 1000.7 4.3 1000.7 996.4 0.40 0.38 3.12
including 195.0 267.5 72.5 1.26 1.22 1.29

Steve Robertson, P.Geo., designated as the Qualified Person defined by National Instrument 43-101, reviewed the data as described in this release. Samples were analyzed at Acme Analytical Laboratories in Vancouver. A comprehensive QA/QC program using blanks, standards and duplicates was maintained for all samples submitted to the lab. The purpose of the 2007 drill program at Red Chris was to investigate the system at depth and further work will be required to define the system dimensions at depth. The true width cannot be determined at this time.

Red Chris is a copper/gold deposit situated 20 kilometres southeast of the village of Iskut in northwest British Columbia. Imperial welcomes the recent announcement by the Provincial Government to proceed with the construction of the Northwest Transmission Line. The new 287 kilovolt (kV) line will extend 335 kilometres from Terrace, north to Bob Quinn Lake. Presently 138 kV power supply grid is available only up to Meziadin Junction. The Northwest Transmission Line will bring 287 kV power supply to within 125 kilometres of the Red Chris project.

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 property in northwest British Columbia, and the Sterling gold mine in southwest Nevada.

Contact Information

  • Imperial Metals Corporation
    Brian Kynoch
    (604) 669-8959
    (604) 687-4030 (FAX)
    Imperial Metals Corporation
    Patrick McAndless
    Vice President Exploration
    (604) 488-2665
    Imperial Metals Corporation
    Sabine Goetz
    Investor Relations
    (604) 488-2657