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Imperial Mining Group Ltd.
Summary
| Project: | Crater Lake | |
|---|---|---|
| Deposit: | TG Zone | |
| Location: | Canada | |
| Commodities: | Scandium-Niobium-Rare Earth | |
| Date: | 6/18/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-6-2019: Imperial Mining Group Ltd. announces an Exploration/Drilling Update report for its TG Zone deposit at the Crater Lake project. Drilling results incl. 113.9m @ 202ppm Sc, 0.370% TREO+Y from 63.75m. MONTREAL, QUEBEC— June 18, 2019 – Imperial Mini | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Pierre Guay (Internal) | |
| ABSTRACT: | MONTREAL, QUEBEC— June 18, 2019 – Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG) is pleased to announce that the final three holes from the 2019 winter drilling program all intersected significant widths and grades of scandium and rare earths (REE) mineralization in the TG Zone (TGZ) target, Crater Lake project, northeastern Québec. A five-hole diamond drilling program for 1,014 m was completed on April 20, 2019 over the TG Zone target to evaluate the scandium potential of a high-intensity magnetic anomaly (Figure 1, see Press Release: May 22, 2019). The new drilling is located 600 m north of a historical drill hole which had returned scandium grades of up to 506 g/t Sc2O3 over 19.0m along the western side of the Crater Lake intrusion on the same magnetic trend. The current results represent the remaining significant analyses from the drilling program. The diamond drill contractor was Avataa Rouillier Drilling Inc. of Amos, Quebec. “The winter drilling results for the Crater Lake property continues to exceed all expectations, as they confirm wide intervals of scandium and TREO+Y at the TGZ target,” said Peter Cashin, Imperial’s President & Chief Executive Officer. “This new drill section 100N, fully 400 m south of the previously announced results of Section 500N, is now defining an important zone of mineralization that can be traced to surface, making it a likely low-cost, open pit mining opportunity. Using a Sc2O3 price of $1,500US per kg, these scandium results have a gold (Au) equivalent value of up to 12.4 g/t (0.40 oz/t), assuming the recent gold price close of $1,330US per ounce. | |
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