Imperial Mining and SOQUEM Commences Exploration on the Carheil-Brouillan Copper-Zinc Project, Quebec
MONTREAL, QUEBEC--(Marketwired - Feb 1, 2018) - Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE:IPG) is pleased to announce the commencement of exploration activities on its Carheil-Brouillan copper (Cu) - zinc (Zn) - silver (Ag) - gold (Au) project in the Abitibi region of northwestern Québec. The winter program consists of 117 km of linecutting, 97 line- kilometres of Ore Vision™ 3-D induced polarization (3D-IP) geophysics and 2,000 m of diamond drilling.
Imperial holds a 100% interest in the Carheil-Brouillan property. The property consists of 114 contiguous claims covering approximately 54.3 km2. On August 25th, 2017, an option agreement for the property was executed with SOQUEM Inc. Under the terms of this agreement SOQUEM made a cash payment of $250,000 and can acquire a 50% interest in the Project by carrying out exploration work totaling $3,750,000 over an option period of four (4) years. Imperial retains a 2.0 % NSR royalty on the property after SOQUEM has vested for their 50% interest.
The Carheil property lies in Brouillan and Carheil townships (see Figure 1), 5 km southwest of the past-producing Selbaie Mine (historical open pit production 53.0 Mt @ 1.9% Zn, 1.0% Cu, 40.7 g/t Ag 0.6 g/t Au). The property straddles a major geological contact interpreted to be the western strike equivalent to SOQUEM's B26 Cu-Zn-Ag deposit geology, situated east of Imperial's ground (SOQUEM 43-101 mineral resource 2016 - Indicated Resource of 6.78Mt @ 1.06% Cu, 0.51% Zn, 12.78 g/t Ag and 0.42 g/t Au and an Inferred Resource of 4.0Mt @ 1.57% Cu, 0.84% Zn, 10.22 g/t Ag and 0.38 g/t Au). Little prior exploration was undertaken on Imperial's ground to follow up the western extension of this favourable Cu-Zn-Ag-Au horizon.
"We are pleased with SOQUEM's aggressive launch of the winter exploration program on the property," said Peter Cashin, Imperial's President and Chief Executive Officer. "Preliminary geophysical results are encouraging and appear to have defined a target having the stratigraphic equivalence of SOQUEM's B26 base metal horizon. We will have a better understanding of the causative anomalies towards the end of February or early March once Abitibi Geophysics completes modeling of the field data."
Linecutting and Ore Vision™ 3D-IP Geophysical Surveys
Approximately 117 km of gridding was commenced by MG Explo of La Sarre, Québec in early November 2017 and completed on December 10th, 2017. This was followed by a program of 3D-IP geophysics on January 8th, 2018, by Abitibi Geophysics of Val d'Or, Québec across the grid (see Figure 2).
The geophysical survey covers the westward extension of the "B26" base metal horizon on Imperial's property, over a strike length of at least four km. To-date, approximately 70% of the survey work has been completed. Preliminary interpretation of the field data has detected two, parallel 3D IP anomalies. The southernmost, NW-SE striking feature shows a strong, wide anomaly believed to be related to a graphitic sedimentary horizon that is known across the region over a strike length of at least 25 km. This graphitic horizon lays approximately 350 to 400 m above the B26 deposit, to the south. A second, parallel weak to moderate anomaly lies 375 m north of the "graphitic" feature and corresponds well to the signature and location of the B26 horizon. A more definitive interpretation of the field data, including digital 3D rendering, will be provided once the survey work is completed, expected by February 7th. Follow-up diamond drilling and downhole geophysical surveys of the best IP anomalies is anticipated.
D2-20 Target Diamond Drilling
In addition, SOQUEM is undertaking a 2,000 m diamond drilling program west of the grid to evaluate the D2-20 occurrence from which historical diamond drilling of the feature returned 1.8% Cu, 76.4 g/t Ag, 24.3 g/t Au over 1.1 m from quartz-carbonate veining in a deformation corridor at the contact of basalt and gabbro. To date, four drillholes for 863 m have been completed over the D2-20 target. Drilling has confirmed the presence of quartz veining and 1-3% disseminated pyrite-pyrrhotite-chalcopyrite-sphalerite over 2.65 m related to the basalt-gabbro contact. The drilling commenced on January 9th, 2018 and is expected to be completed by February16th. Rouiller Drilling Inc. of Amos, Québec, is the contractor for the drill program. Samples collected from drilling will be submitted to ALS Chemex of Val d'Or, Québec for geochemical analysis upon completion of the program.
The technical content in this press release was reviewed and certified by Pierre Guay, Imperial's VP Exploration, a geological engineer and Qualified Person as defined by NI 43-101.
ABOUT IMPERIAL MINING GROUP LTD.
Imperial is a Canadian-based exploration and development company focussed on the advancement of its copper-zinc, gold and technology metals properties in Québec. Imperial is publicly listed on the TSX Venture Exchange as "IPG" and is led by an exceptional team of exploration and development professionals with an enviable track record of mineral deposit discovery in numerous metal commodities. In conjunction with a strong Board of Directors, Team Imperial has an impressive record of significant new mineral deposit discoveries under their belts (20 at last count: three to production, nine to feasibility, the balance pre-feasibility and resource definition). Imperial continues to pursue high-quality project opportunities throughout North America.
ABOUT SOQUEM INC.
SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.
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Contact
Imperial Mining Group Ltd.
Peter J. Cashin
President and Chief Executive Officer
+1 (514) 360-0571
info@imperialmgp.com
www.imperialmgp.com