Imperial Metals Corporation (the
“Company
”), has acquired four mineral claims
totalling 6,834.47 hectares from Freeport-McMoRan Mineral
Properties Canada Inc. for the consideration of claim assessment
work expenditures and a 0.5% Net Smelter Return royalty.
The acquired claims are contiguous with the
Company’s Sustut property which is held by Selkirk Metals Corp.
(“Selkirk”), a wholly owned subsidiary. It is located in
northcentral British
Columbia, approximately 40 kilometres south of the Kemess
Mine. The newly acquired claims cover two Minfile occurrences, the
A Bornite (094D 038) and A Chalcocite (094D057) which consist of
fracture-controlled copper-silver mineralization of bornite and
chalcocite hosted in the Upper Triassic Savage Mountain Formation,
the same host as the Sustut Copper Deposit.
The Sustut mineralization host volcaniclastic
unit is a highly variable sequence of rocks ranging from augite
porphyry basalt to andesite in composition with a strike averaging
100 degrees and dipping 15 degrees to the southwest. The copper
mineralization occurs in several stratiform and sub-parallel lenses
which are up to 45 metres thick and conformable to the average
bedding attitudes. Mineralization consists of hematite, pyrite,
chalcocite, bornite, chalcopyrite and minor native copper. The
Sustut deposit is divided into two main zones, the North Zone and
the South Zone, which are separated by the deeply incised East
Cirque. The North Zone covers an area of approximately 900 by 700
metres, while the South Zone has been defined over an area of 800
by 1,000 metres. Much of the deposit is near surface and may be
mineable by open pit. The focus of the metallurgical test work and
the resource tabulated below is confined to the South Zone, where
the majority of the drilling has occurred.
During 2021 Selkirk retained ABH Engineering to
complete X-Ray Transmission (XRT) testing on Sustut samples of
mineralization from drill core to determine if XRT particle sorting
could be used to reduce the volume and increase the grade of the
feed to a concentrator. The XRT particle sorting study was
conducted using 244 core samples from previous drilling. The XRT
scans were conducted using the TOMRA sorter at the Saskatchewan
Research Council.
The test results indicate that particle sorting
could meaningfully improve the life of mine economics for the
project. The sample tested had a grade of 1.12% copper and 4.33 g/t
silver. The sorted product graded 1.86% copper and 5.62 g/t silver
with 87.1% of the copper and 68% of the silver recovered into the
sorted particle product. Sorting yielded a 66.1% upgrade from the
feed grade for copper and a 29.7% upgrade from the feed grade for
silver. The sorter rejects graded 0.30% copper and 2.91 g/t silver
and contained 12.9% of the copper and 32% of the silver. ABH
Engineering recommends that Selkirk move forward with further test
work on XRT particle sorting on three to five larger samples
ranging from low grade to high grade.
The Sustut copper deposit was acquired by
Selkirk in 2007 when Selkirk acquired Doublestar Resources Ltd.
Doublestar filed a 43-101 compliant report titled, “TECHNICAL
REPORT Sustut Project, British Columbia”, dated October 8, 2004 and
filed on SEDAR on October 25, 2004.
The Sustut historic resource description
referenced in this news release is considered relevant because it
demonstrates the potential viability of the project. The Company
cautions readers that a Qualified Person has not done sufficient
work to classify the historical estimate as current
mineral resources or mineral reserves and the Company is not
treating the historical estimate as current mineral
resources or mineral reserves. The Company does, however, believe
the work was done to 43-101 standards at that time. To support the
report, three of the more important older holes from Falconbridge
were twinned with good agreement. The newer drilling, sample
preparation and analyses were completed with a QA/QC program and
conformed with industry standards. This program included duplicate
samples, blanks, and standards in the assays. The rate at which
these were inserted was approximately one per analytical batch.
Results of duplicates, blanks and standards provided were
satisfactory. The specific gravity of 2.85 used in the resource
modelling was from lab work at Bondar-Clegg using 74 samples.
The following Sustut historic resource
description is included in that report:
|
Doublestar Resources Ltd. - Sustut Copper
Project |
Mineral Resource Summary at 0.65% Copper
Cutoff |
|
Cu Cutoff |
Mineralised |
Cu |
Cu |
Cu |
Category |
Grade (%) |
Tonnes |
Grade (%) |
Tonnes |
Pounds |
Southeast Zone |
|
|
|
|
|
measured |
0.65% |
3,859,000 |
1.81 |
69,900 |
154,102,938 |
indicated |
0.65% |
1,638,000 |
1.78 |
29,200 |
64,374,904 |
Subtotal |
0.65% |
5,497,000 |
1.80 |
99,100 |
218,477,842 |
Southwest Zone |
|
|
|
|
|
measured |
0.65% |
1,358,000 |
1.32 |
17,900 |
39,462,698 |
indicated |
0.65% |
1,385,000 |
1.22 |
16,900 |
37,258,078 |
Subtotal |
0.65% |
2,743,000 |
1.27 |
34,800 |
76,720,776 |
Total at 0.65% Copper Cutoff Grade |
|
|
|
measured |
0.65% |
5,217,000 |
1.68 |
87,800 |
193,565,636 |
indicated |
0.65% |
3,023,000 |
1.53 |
46,100 |
101,632,982 |
Total |
0.65% |
8,240,000 |
1.63 |
133,900 |
295,198,618 |
|
|
|
|
|
|
The reports resource estimate was based on the classification
system defined by the CIM Standards On Mineral Resources and
Reserves, Definitions and Guidelines, adopted by the CIM council on
August 20, 2000. The resource was assigned a confidence category
classification based on the distance from the block centroid to the
nearest copper composite value within the search ellipsoid.
Measured resources were considered 0 to 25 metres, indicated
resource from 25 to 50 metres. Density factor of 2.85 tonnes per
cubic-metre was used for all rock types. |
|
The Company is planning to initiate a follow up
exploration program in 2022 and is planning to collect bulk samples
to allow for the next phase of the XRT ore sorting tests.
Brent Hilscher, P.Eng , of ABH Engineering Inc.
is the designated Qualified Person as defined by National
Instrument 43-101 for the X-Ray Transmission (XRT) testing on
Sustut samples and has reviewed this news release.
Maps and graphics for the Sustut property will
be available on the Company’s website at
www.imperialmetals.com.
About Imperial
Imperial is a Vancouver based exploration, mine
development and operating company. The Company, through its
subsidiaries, owns a 30% interest in the Red Chris mine, and a 100%
interest in both the Mount Polley and Huckleberry copper mines in
British Columbia. Imperial also holds a 100% interest in the
Ruddock Creek lead/zinc property.
Company Contacts
Brian Kynoch | President
| 604.669.8959Jim Miller-Tait |
Vice President Exploration | 604.488.2676
Cautionary Note Regarding
Forward-Looking Statements
Certain information contained in this news
release are not statements of historical fact and are
“forward-looking” statements. Forward-looking statements relate to
future events or future performance and reflect Company
management’s expectations or beliefs regarding future events and
include, but are not limited to, statements regarding the potential
for the Sustut deposit to be mineable by open pit; statements
regarding XRT particle sorting including the potential improvement
of life of mine economics for the project; and the Company’s plans
to initiate a follow up exploration program and collect bulk
samples to facilitate XRT particle sorting tests.
In certain cases, forward-looking statements can
be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "outlook", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative of these terms or comparable terminology.
By their very nature forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements.
In making the forward-looking statements in this
release, the Company has applied certain factors and assumptions
that are based on information currently available to the Company as
well as the Company’s current beliefs and assumptions. These
factors and assumptions and beliefs and assumptions include, the
risk factors detailed from time to time in the Company’s interim
and annual financial statements and management’s discussion and
analysis of those statements, all of which are filed and available
for review on SEDAR at www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended, many of which are beyond the Company’s
ability to control or predict. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and all
forward-looking statements in this news release are qualified by
these cautionary statements.
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