MONTREAL, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG) is pleased to announce that geophysical and geological data compilation for the Opawica Gold project has been completed and has identified important gold targets for a 1,500-m diamond drilling program during the Winter 2020 period.
The drilling will follow-up on areas of historical drilling from the Central Zone target area which returned up to 6.9 g/t gold (Au) over 3.8 m and 87.7 g/t Au over 1.5 m. The Central Zone has never been drill-tested below the 125 m vertical level and is open along strike and at depth.
The 100%-owned Opawica gold property is located 20 km east of Desmaraisville and is accessible via Highway 113 from Val d'Or to Chibougamau, Quebec, and by a network of forestry roads (Figure 1).
GROUND MAGNETIC GEOPHYSICAL SURVEY
During Fall 2019, a GPS-positioned ground magnetic survey was completed on the property over the grid in which the OreVision™ Induced Polarization (IP) survey (see Press Release: November 7, 2018) was previously carried out by Abitibi Geophysics. This new ground magnetic survey was performed by Abitibi Geophysics of Val d’Or, QC and a total of 68-km was completed by a two-men crew on October 20th, 2019.
Results of this survey provide more precise definition of the gold bearing structures on the property. The NE-trending deformation corridor can be traced for over 2.2 km and two highly magnetic features are identified within this corridor. From the magnetometer data, magnetic lows were identified in the western and eastern parts of the study grid, interpreted to be related to gold mineralization alteration zones. Interestingly, some of these interpreted magnetic features, within the deformation corridor, coincide with highly anomalous IP axis interpreted from the previous OreVision™ IP survey.
3D GEOLOGICAL MODEL
The 3D geological model was completed by Geologica Group Conseil of Val d’Or, QC in November 2019. All previous boreholes were compiled with an emphasis on the modelling of the quartz-carbonate veins, gold-related sulphide mineralization and the various alteration zone types described in the historical drillhole records.
This model was focused on the Central Gold Zone, characterized in historical drilling as a 75-150 m wide deformation and alteration corridor consisting of several shear zones with strong, pervasive carbonate, sericite, and fuchsite alteration. The mineralization is characterized as fine-grained disseminated pyrite and quartz veinlets with gold and silver and occasional visible gold (VG). Results of the new model shows that the mineralization and quartz veins and veinlets might have a shallower dip to the north then previously interpreted. The model was developed by machine learning techniques, taking in consideration of favourable geology, structure, alteration intensity and presence of anomalous gold. This work led to the identification of two significant target areas in a “Heat Map”: the known “Central Gold Zone” and a new target area to the west, the “New West Zone” (see Figure 2).
WINTER 2020 DIAMOND DRILL PROGRAM
Imperial Mining Group plans to initiate a 1,500 m diamond drill program in early January 2020. The drilling contractor for the program will be Orbite Garant of Val d’Or, Quebec. All analytical work will be undertaken by AGAT Laboratories, also of Val d’Or. Between 4 to 6 diamond drill holes will be completed during this phase of drilling.
Drilling will be carried out on the two areas identified from Imperial’s modeling efforts. These targets were also defined by using an automatic predictive method known as CET Grid Analysis. This method highlights the zones of high, gold-favourable structural complexity using lineaments automatically mapped within the total magnetic field reduced to pole as well as favourable geology and geochemistry. The program is anticipated to be completed by mid-February 2020.
QUALIFIED PERSON
The technical content in this press release was provided and certified by Pierre Guay, P. Geo., Imperial's Vice-President, Exploration, and Qualified Person as defined by NI 43-101.
ABOUT IMPERIAL MINING GROUP LTD.
Imperial is a Canadian mineral 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 experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.
For further information please contact:
| Peter J. Cashin President and Chief Executive Officer Phone: +1 (514) 360-0571 Email: info@imperialmgp.com | CHF Capital Markets Cathy Hume, CEO Phone: +1 (416) 868-1079 x231 Email: cathy@chfir.com |
Website: www.imperialmgp.com ; Twitter: @imperial_mining ; Facebook: Imperial Mining Group
This press release may contain forward-looking statements relating to the Company’s operations or to its business environment. Such statements are based on the Company’s operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise. Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.
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Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e37e884-ad23-46c9-99b9-ee4ade3e39cf
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5aa0dbc4-fad4-4a11-9d19-954f8341f6f2