Significant Copper and Gold results from Rock Sampling
VANCOUVER, BC / May 26, 2020 / IMC International Mining Corp. (IMCX.CN) (OTC PINK:IMIMF) (3MX.F) (the “Company” or “IMC“), is pleased to announce results from its 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 Gail and Cirque Areas. The Company in a May 19, 2020 press release presented the Cathedral Area results. As compilation continues, the Company will disclose results from the CJL, Lake, and Mat Areas of the Property.
The Phelps Dodge Corporation (“PDC”) sampled the Gail Area in 2000 prior to involvement of CME and TMI. Grab samples from within the Gail Area by PDG identified numerous anomalous copper and gold values, including grab samples of up to 4.49% Cu and 6.48 g/t Au.
The Gail Area was visited in 2012 by TMI for a 10-day prospecting program in which 295 rock samples were collected. Prospecting by TMI at Gail was limited to the central region, and did not evaluate zones previously sampled by PDG. To the west of TMI’s work PDG grab samples returned significant assay results, including a grab sample of 4.49% Cu, 0.12 g/t Au, and to the north-west, 6.86% Cu, 1.05 g/t Au.
Of the 295 rock samples collected by TMI in 2012, 140 returned assays greater than 0.1% Cu while a total of 32 samples returned greater than 1.0% Cu, to a maximum value of 7.69% Cu. A total of 34 samples returned assays greater than 0.1 g/t Au, with 8 samples greater than 1.0 g/t Au. Anomalous gold and silver values are invariably associated with anomalous copper values but the converse does not appear true for this Area. Selected rock sample results from TMI’s work at the Gail Area showing are presented in Table 1. Figures illustrating sample locations for the Gail Area will be made available on the Company’s website.
Table 1: Selected rock sample results, Gail Area
|Sample||Sample Type||Cu (%)||Au (g/t)||Ag (g/t)|
A geological model for the Gail Area has not yet been established. The Gail Area lies wholly within the rocks of the Hogem Plutonic Suite. The lithologies are dominated by granodiorite and quartz monzonite. Quartz diorite, diorite, monzonite and feldspar breccia are also present along with minor occurrences of volcanic and rhyolite/dacite dykes. Mineralization primarily occurs as disseminations of chalcopyrite.
At the Cirque Area, a visit by CME in 2010 found anomalous malachite and azurite staining on the eastern facing cirque. Other than a single day visit to the eastern part of this area, there has been no follow-up since the initial discovery. The lithology of the area consists of coarse-grained, leucocratic, equigranular diorite consisting of 60% plagioclase feldspar (2 to 4 millimeters), 30% hornblende and 10% magnetite. Enclaves of up to 90% magnetite, approximately 10 centimeters in diameter, with 10% epidote are found within nearby angular boulders.
The main Cirque showing is located 2.5 kilometers west of the Gail showing. The azurite and malachite form a 1-millimeter layer that covers the face of the cliff and was formed from leaching of chalcopyrite rich rocks higher in the cliff. A similar, approximately 15 meters wide, secondary copper oxide alteration zone occurs 50 meters south of the main showing. No samples have been collected from this southern showing. The mineralization found within this area is structurally controlled, with a series of narrow sub-parallel sulphide veins.
A one-day traverse was undertaken at the Cirque Area in 2012 by TMI. The 2012 sampling was limited to the eastern region of the Cirque Area in the vicinity of the historical 2.85% Cu sample taken by CME in 2010. Of the 8 samples collected, two returned greater than 1% Cu. The host rock is principally medium to fine-grained granodiorite. Mineralization differs from the main showing of the Cirque, as chalcopyrite was found to occur as disseminations throughout the fine-grained granodiorite. Figures illustrating sample locations for the Cirque Area will be made available on the Company’s website.
Table 2: Selected rock sample results, Cirque Area
|Sample||Sample Type||Cu (%)||Au (g/t)||Ag (g/t)||Year|
“The focus for IMC this summer is the Cathedral Area as we prepare for a drill program,” stated Brian Thurston, Chief Executive Officer and President of IMC. “However, the substantial copper and gold values observed within the Gail and Cirque Areas call for additional exploration and only highlights the potential for discovery on our underexplored, 206 square kilometer Property.”
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.