Significant Gold and Copper Results from Rock Sampling
VANCOUVER, BC / May 19, 2020 / IMC International Mining Corp. (IMCX.CN) (OTC PINK: IMIMF) (3MX.F) (the “Company” or “IMC“), is pleased to announce results from it’s on-going compilation of work from its recently acquired Thane Property (the “Property“) located in north-central British Columbia. IMC began an extensive compilation and synthesis of available data from the Property, which includes 359 rock samples collected by CME Consultants Inc. (“CME“), 1,098 rock samples collected by Thane Minerals Inc. (“TMI“), and soil sampling and Induced Polarization (“IP“) surveys completed by TMI.
Work on the Property has identified six areas of significant gold ± copper ± silver mineralization. The results from IMC’s compilation work presented in this news release are for the Cathedral Area only. As compilation continues, future news releases will disclose results from the Gail, Cirque, CJL, Lake, and Mat Areas of the Property.
At the Cathedral Area, rock sampling identified five copper-gold showings that include the Pinnacle, Cathedral, Cathedral South, Arc, and Gully Showings. Select results from these showings include:
Rock samples from the Cathedral Area have revealed copper and gold mineralization in a variety of styles over a 2 km long by 1.5 km wide zone, all consistent with alkali porphyry systems. Geological studies undertaken in 2017 indicate the geological model for this area might best be represented as a post emplacement, westward tilted, alkalic porphyry. The high levels of gold mineralization sampled are considered significant, with samples returning values of up to 20.1g/t Au from the Pinnacle Showing, and 6.85g/t Au from the Cathedral Showing.
The Pinnacle Showing, located north of the Cathedral Showing, contains the highest gold grades on the Property and has been interpreted as a hydrothermal system of the alkalic porphyry. At the Pinnacle Showing, the gold bearing quartz veins contain arsenopyrite. Soil samples located approximately 750 meters along the inferred strike extension of the south-southeast gold-bearing structures contained anomalous levels of arsenic. Further along this inferred structural trend, silt samples have returned anomalous levels of gold suggesting arsenic can be used as a pathfinder element for gold exploration in this area.
In 2019, a reconnaissance 5-line, pole-dipole, IP geophysical survey was undertaken within the Cathedral Area using an electrode spacing of 100 meters. This survey identified three areas of interest that include a broad 600-meter wide anomaly extending to depth east of the Cathedral Showing, as well as areas representing potential narrow structures at surface at the Gully and Cathedral Showings. Rock samples from the areas of the narrow, near surface IP anomalies have exhibited copper and gold mineralization with values of up to 0.42 g/t Au and 3.13% Cu at the Gully Showing, and 0.32 g/t Au and 0.67% Cu at the Cathedral Showing. North and approximately 175 meters along the inferred strike of the anomaly at the Cathedral Showing, samples returned values of up to 1.71 g/t Au and 3.70% Cu. Although no rock samples occur around the broad, 600-meter IP anomaly, a contour soil line covering this area returned copper-in-soil anomalies at both the eastern and western edges of this anomaly. The soil-sampling program was completed to explore regions inside the Cathedral Area with little to no outcrop. Results from this program identified four broad in-line copper anomalies, and are described in the Company’s press release from May 6, 2020.
Figures illustrating results of work completed in the Cathedral Area include geophysical and geochemical results from CME and TMI, as well as airborne magnetic results from Geoscience BC’s Quest program. All figures are available on the Company’s website.
“Exploration results to date have shown the potential for a significant copper-gold alkalic porphyry system within the Cathedral Area,” stated Brian Thurston, Chief Executive Officer and President of IMC. “We are currently preparing to follow-up these exciting results with a detailed IP survey, geological mapping, and geochemical sampling as a Phase-1 summer program. Our goal is to determine the best targets for diamond drilling this fall. We look forward to compiling information from other mineralized Areas identified on our Thane Property and making all results public once completed”.
The scientific and technical information disclosed in this news release was reviewed, verified and approved by Christopher O. Naas, P. Geo., of CME who is a “Qualified Person” as defined in NI 43-101. Mr. Naas is a shareholder of the Company and owner of CME.
The Company is pleased to announce that it has extended its investor relations agreement (the “Investor Relations Agreement“) with MRP such that, in exchange for payment by the Company to MRP of an aggregate additional €150,000, MRP’s investor relations services under the Investor Relations Agreement have been extended for an additional 30 days.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and President
ABOUT INTERNATIONAL MINING CORP.
IMC is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia, and the Bullard Pass Property in Arizona. Utilizing its heavily experienced management team, IMC continues to source and evaluate assets to further generate shareholder value.
The Thane property covers approximately 206km2 (50,904 acres) and is located in the Quesnel Terrane of north-central British Columbia. The northern part of the Quesnel Terrane extends from south of the Mt. Milligan Mine northward to the Kemess Mine, with the Thane property located midway between these two copper-gold porphyry deposits. The Thane property includes several highly prospective mineralized areas identified to date, including the ‘Cathedral Area’ on which the Company’s exploration is currently focused.
The Bullard Pass Property is comprised of 171 unpatented federal lode claims totaling 3,420 acres and is located in west-central Arizona, northwest of Phoenix, within the Pierce Mining District of Yavapai County. The property has a regional setting typical of detachment fault gold deposits and has geological, mining and metallurgical similarities to the Mesquite Mine in California. The claims are 100% owned by IMC International Mining Corp.
Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business and plans, including with respect to undertaking further acquisitions and carrying out exploration activities in respect of its mineral projects. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, risks related to the ability of the Company to obtain necessary approvals; speculative nature of the Company’s business; the Company’s formative stage of development; the Company’s financial position; conclusions of future economic evaluations; business integration risks; fluctuations in the securities market; that the Company’s plans and prospects will vary from those stated in this news release; that the Company does not complete any further acquisitions; that the Company does not carry out exploration activities in respect of its mineral projects as planned (or at all); and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.
SOURCE: IMC International Mining Corp.