MRc2
1 year ago
iMetal Resources Inc. (TSXV:IMR) (OTCQB:IMRFF) Maximizing Potential Amid Rising Gold Prices and Mining-Friendly Jurisdiction
iMetal Resources Inc. IMR IMRFF is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The company is led by CEO ‘Saf' Dhillon, who has a solid track record in creating accretive shareholder value wherever he goes. For instance, he was a key member of Idaho-based U.S. Geothermal Inc.'s management team, which grew the company from a roughly $2 million startup to a successful Independent Renewable Energy Power Producer worth over $300 million.
The company’s flagship property is Gowganda West, located within the Shining Tree Camp area in the southern part of the prolific Abitibi Greenstone Gold Belt. This particular property is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold.
There’s a good reason why iMetal Resources Inc.
IMR
IMRFF
chose this region as the location for its flagship project. Ontario and Quebec were ranked as the 2nd and 3rd most attractive Canadian provinces for mining in a recent Fraser Institute report. Apart from having excellent infrastructure, all the world’s largest gold producers, like Newmont (Gold Corp.), Osisko, IAMGOLD, and Agnico Eagle Kirkland Lake Gold, are all active in the area.
Historically, the Greenstone Belts have produced over 200 million ounces of gold and another 400 million ounces of silver, illustrating just how resource-rich this area is. There’s currently at least 21 distinct gold deposits of over 3 million ounces and over 100 producing mines, which further reaffirms the potential of IMRFF claims. The Gowganda West project is about 147 sq km in size and is right adjacent to Aris Gold Corp.'s
ARIS
Juby deposit, which has an indicated 770,000 ounces (21 million tonnes) at 1.1 g/t and an inferred 1.5 million ounces (47 million tonnes) at 0.98 g/t.
The structures hosting the Juby deposits trend onto iMetal Resources Inc.
IMR
IMRFF
ground and are also about 100 km south-southeast of the Timmins Gold Camp. They are also contiguous to the Knight project, that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Ltd.
The company recently announced results from phase 1 of its 2023 drilling at the project, which included seven holes totaling 2,490m. All seven holes intersected gold mineralization, featuring 48.5m of 0.85 g/t Au starting at 316.5m and 20 m of 1.56 g/t Au, including 8.0m of 2.97 g/t Au, which illustrates the potential of the Gowganda West property.
But that isn’t the only project that iMetal Resources Inc.
IMR
IMRFF
is pursuing. The company’s Kerrs Gold Project is a 665-hectare property that has a rich history of gold production and still has the potential for further expansion. The property neighbors Newmont Mining, and according to a 2011 technical report, the project had an inferred resource potential of 386 kg of gold, or 7 MT, at 1.7 g/t. However, iMetal is not treating this as the current resource potential since post-resource drilling showed the deposit extended along its strike, implying the deposit could have more potential.
The company also owns 100% of the 131.6ha Ghost Mountain Property, east of Kirkland Lake, Ontario, right in the historic Porcupine Destor Fault, which hosts about 70 million ounces of gold. This project appears even more promising considering that it lies just 5km west of the Agnico Eagle Mining Holt Mine Complex, a $75 million joint venture with Newmont Mining.
iMetal Resources Inc.
IMR
IMRFF
also fully owns the Carheil property, also located in the Abitibi Greenstone Belt, though this is a flake graphite project. It encompasses approximately 5,400 acres of contiguous land and is located approximately 20km west of BHP Billiton Ltd’s past-producing Selbai Zinc mine and to the north of Hecla Mining Limited’s Casa Berardi Mine. This year, the company completed a 1053m drilling program, which returned impressive results, including 2.89% Cg over 10.55m at 2.89 percent Cg and 4.25% Cg over 5.3m, including 7.90% Cg over 1.2m.
Takeaway
The Abitibi Greenstone Gold Belts of Ontario and Quebec contain one of the largest endowments of gold in the world. IMR has three projects at different levels of development in this prolific greenstone gold belt, all of which are already producing assets, which bodes well for the company. If analysts' predictions do indeed come true and gold returns to over $2000 per ounce last witnessed in March, iMetal Resources Inc.
IMR
IMRFF
will just need to keep hitting its drill targets for H2 in order to unlock more shareholder value.
BlazingStocks
1 year ago
IMetal, a Canadian junior exploration company with a keen focus on resource properties in Ontario and Quebec, has recently unveiled a pivotal development that has the potential to reshape its fortunes. The heart of this news centers on iMetal's flagship property, Gowganda West, an exploration-stage gold project located within the Abitibi Greenstone Gold Belt, about 100 kilometers south-southeast of the Timmins Gold Camp.
$IMRFF
Trooperstocks
1 year ago
NEWS: FULL Press Release: $IMRFF (OTCQB) iMetal Resources Completes Digitally Enhanced Prospecting Survey on Its Gowganda West Project
Tue, September 26, 2023 at 6:00 AM EDT
In this article: IMRFF +40.2174%
VANCOUVER, BC / ACCESSWIRE / September 26 , 2023 / iMetal Resources Inc. (TSXV:IMR)(OTCQB:IMRFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce completion of Phase 1 of a Digitally Enhanced Prospecting (DEP) survey at the Company's Gowganda West project, which lies within the prolific Abitibi Greenstone Gold Belt. This survey covered three areas: the area of current exploration focus south of Aris Mining's Juby Project (Zone 1 to Zone 3), and the satellite areas of Pear Lake and Pigeon Lake.
Saf Dhillon, Chief Executive Officer, stated: "Our recent drill results at Gowganda West, including 48.5m of 0.85 g/t Au in hole IMGW-23-04 announced on June 6 th of this year, have further invigorated our interest in the area. As a result, we have targeted the area for DEP in an effort to increase our mineralization footprint and help guide future drilling efforts through mapping and sampling. Gowganda West is highly prospective but still remains largely under-explored, so this is our first step at probing further at that potential."
Waring Minerals Inc. completed the DEP programs at Gowganda West. 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.
In addition to DEP, drone magnetics were flown at Gowganda West satellite properties Pear Lake and Pigeon Lake. These surveys are currently being interpreted and results will be released upon receipt of the final interpretation report.
Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario; contiguous to Aris Mining's Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; and also contiguous to the Knight project that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Ltd. iMetal recently completed a 2,611 m drilling program in the fall of 2022 which intersected a new gold trend and resulted in the company announcing it's first ‘Discovery Hole' (See NR dated June 6 th , 2023). The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.
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 1 - Plan Map of Gowganda West showing DEP Survey and Sample Locations
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 property 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.
info@imetalresources.ca
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.
View source version on accesswire.com:
https://www.accesswire.com/787340/imetal-resources-completes-digitally-enhanced-prospecting-survey-on-its-gowganda-west-project
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