Significant Copper and Gold Results from Rock Sampling
VANCOUVER, BC / ACCESSWIRE / June 4, 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 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 CJL, Mat, and Lake Areas. The Company previously released Cathedral Area results, and Gail/Cirque Area results.
Commander Resources Ltd. first discovered the CJL Showing in 2005 during a one-day reconnaissance traverse. TMI undertook a short prospecting program in 2016 to verify Commander Resources results, which resulted in the collection of 56 rock samples. Copper mineralization at the CJL Showing is hosted by highly altered, foliated syenite and magnetite/specular hematite breccia. Due to the steepness of the terrain, in-situ mineralization was not visited by TMI, however visible copper oxide mineralization (malachite) was observed on the cliff face for a length of over 125 meters. From the 56 rock samples collected by TMI, 31 samples returned greater than 0.1% Cu, and 10 samples returned greater than 1.0% Cu. The highest copper values were found to occur in areas of intense brecciation. Although gold grades appear to be lower in tenure from the Gail and Cathedral Showings, located approximately 5 km and 11 km to the south, respectively, sample 3020 returned 0.632 ppm Au, which demonstrates gold mineralization of significant tenure does exist at the CJL Showing. Significant samples are presented in Table 1 and a compilation of results is presented below.
Table 1: Selected rock sample results, CJL Area
|Sample||Sample Type||Cu (%)||Au (g/t)||Ag (g/t)|
In 1971, Fortune Island Mines Ltd. discovered a pyrite-chalcopyrite bearing quartz vein, from which a 1.07 meter chip sample returned 2.18% Cu. In 1983, Canasil Resources Inc. (“Canasil”) blasted open the vein from which they collected a total of 41 chip samples, each 0.31 meters in length, over 230 meters of exposed vein material. The average silver value of all the samples collected was 746 g/t Ag. In 1985, Canasil tested the vein with 9 diamond drill holes totaling of 942 meters from 4 set-ups. Silver mineralization over similar widths observed on surface was intersected in 2 of the holes. Results ranged from 165 g/t Ag to 468 g/t Ag. In 1991, Canasil undertook channel sampling in 10 areas over a previously unsampled section of the main vein, which yielded an average grade of 1,140 g/t Ag, 0.51% copper, 1.79% lead, and 2.59% zinc. In 1998, Canasil conducted rock sampling over the main vein, which returned an average grade of 822 g/t Ag over an average width of 0.34 meters. These results are historical and are presented for reference only.
In 2015, TMI undertook an airborne geophysical survey over the Thane property, which included coverage of the Mat Area. Additionally, confirmation sampling of the main vein was undertaken prior to the start of the survey. A grab sample from the main vein returned up to 4,950 g/t Ag, 1.5 % Cu, 3.3% Pb and 1.2 % Zinc. The airborne survey, identified a 1-kilometer x 0.5-kilometer magnetic feature, proximal to the silver-bearing quartz vein, which has not yet been explored. This magnetic feature was confirmed in 2017 when Geoscience BC undertook an airborne geophysical survey as part of their Quest program. The total magnetic intensity is presented with selected historical rock samples locations below for reference.
The Lake Area was discovered by TMI in 2012. From the 141 rock samples collected by TMI, 77 samples returned greater than 0.1% Cu, 39 samples were greater than 0.5% Cu, and 15 samples were greater than 1% Cu. Gold mineralization was found to occur at the Lake Area, as a total of 39 samples returned greater than 0.1 g/t Au, with 8 samples being greater than 1.0 g/t Au. Anomalous gold values are invariably associated with anomalous copper values, but the converse does not hold. Rocks within the Lake Area were mapped as quartz monzonite to dioritic in composition, with significant copper grades associated with potassic alteration zones. The style of mineralization has not yet been defined, but the footprint of anomalous copper and gold mineralization covers an area 3 km long by 1.5 km wide.
Along the base of the southern cliffs, significant copper and gold mineralization was found to occur for a length of 2.3 km. Sample highlights along this zone of mineralization include 3.37% Cu, 1.39 g/t Au from gossanous float with abundant (5-7%) pyrite and moderate to strong chlorite and potassic alteration at the western end of the zone, and 3.02% Cu, 0.88 g/t Au collected from gossanous quartz monzonite with malachite and chalcopyrite near the eastern end.
Quartz monzonite with chalcopyrite and malachite staining sampled at higher elevations near the ridge crest, returned up to of 3.82% Cu and 3.07 g/t Au. At the western edge of the area, grab samples from outcrop returned up to 1.52% Cu and 0.04 g/t Au. Significant samples are presented in Table 2 and a compilation of results is presented below.
Table 2: Selected rock sample results, Lake Area
|Sample||Sample Type||Cu (%)||Au (g/t)||Ag (g/t)|
“The compilation of data from the work undertaken by Thane Minerals demonstrates the presence of significant copper-gold mineralization throughout the 206 sq km Thane Property. With the Cathedral Area modelled as an alkalic porphyry, and such systems usually occurring in clusters, the copper and gold values detected on the Property to date highlights the potential for other significant discoveries,” stated Brian Thurston, Chief Executive Officer and President of IMC. “Although the focus for IMC this summer will be at the Cathedral Area, IMC has plans to revisit all of these other areas, advancing them through exploration and evaluating their potential.”
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.
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.
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SOURCE: IMC International Mining Corp.