iMETAL Resources Announces 2023 Phase One Exploration Plans at Gowganda West and Ghost Mountain

iMETAL Resources Announces 2023 Phase One Exploration Plans at Gowganda West and Ghost Mountain

iMetal Resources, Inc. (TSX.V:IMR)(OTC PINK:ADTFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce 2023 Phase One exploration plans for the Company's Gowganda West and Ghost Mountain projects; both lie within the prolific Abitibi Greenstone Gold Belt

Saf Dhillon, Chief Executive Officer, stated: "Along with our flagship Gowganda West project, iMetal is focused on building shareholder value by bringing our other gold assets forward to the drilling stage by utilizing some of the modern exploration methods. The Abitibi Greenstone Belt is one of the most prolific gold areas in the World and our technical team believes our properties are ideally located to offer excellent opportunities for a major discovery."

The Company is in the final planning stages for the next phase of drilling at Gowganda West, scheduled for the second half of March. Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario, contiguous to Aris Mining's Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; contiguous also with the Knight project that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Ltd. iMetal completed a 2611 m drilling program in the fall of 2022 which intersected a new gold trend. The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.

The Company has engaged Waring Minerals Inc. to undertake a Digitally Enhanced Prospecting program at Ghost Mountain, utilizing UAV LiDAR and onsite analysis to find outcrops for the purposes of sampling and mapping. This program is scheduled to commence the first week of March. Ghost Mountain is a 220-hectare property, 42 km NE of Kirkland Lake, which lies 5 km directly west of Agnico Eagle's Holt and Holloway Mine and within 1 km of the Porcupine-Destor Fault Zone.

The scientific and technical information contained in this news release has been reviewed and approved by Scott Zelligan, P. Geo (Ontario), VP Exploration of iMetal and a qualified person as defined in National Instrument 43-101.

About iMetal Resources Inc.

iMetal is a Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. One of its Flagship properties Gowganda West, is an exploration-stage gold project that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 665-hectare Kerrs Gold deposit comprises a series of gold-bearing pyritized quartz vein replacement breccias with a 2011 historic resource, 90 kilometres ENE of Timmins. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle's Holt and Holloway Mine.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

iMetal Resources Inc.
info@imetalresources.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
https://imetalresources.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include results of exploration, variations in results of mineralization, relationships with local communities, market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

SOURCE:iMetal Resources, Inc.



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https://www.accesswire.com/741611/iMETAL-Resources-Announces-2023-Phase-One-Exploration-Plans-at-Gowganda-West-and-Ghost-Mountain

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iMetal Resources Closes Flow-Through Private Placement

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iMetal Resources, Inc. (TSXV:IMR)(OTCQB:IMRFF)(FRANKFURT:A7V) ("iMetal" or the "Company") announces it has completed a non-brokered private placement (the "Offering") of 5,200,000 flow-through common shares (each, an "FT Share") at a price of $0.07 per FT Share for gross proceeds of $364,000

Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. In connection with completion of the Offering, the Company paid $25,480 and issued 364,000 share purchase warrants (each, a "Finders' Warrant") to an arms-length third-party who assisted in introducing the subscriber to the Offering. Each Finders' Warrant is exercisable to acquire a common share of the Company at a price of $0.07 until December 13, 2025.

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Saf Dhillon, Chief Executive Officer, stated: "iMetal continues to pursue and execute on important ground-laying technical work on all of our properties. The Pigeon Lake block lies within a prolific area hosting numerous mineralized occurrences, past-producing mines, and large deposits. Our programs this year continue to have success, most notably our June 6 th discovery of 48.5 metres at 0.85 g/t gold at Gowganda West. This historically underexplored property continues to hold promise and we will continue our work towards more discoveries on it."

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Saf Dhillon, Chief Executive Officer, stated: "Our recent exploration has been successful in outlining promising new areas with previously undiscovered gold occurrences, first at the Shining Tree block and now at the Pear Lake block, complementing our June 6th discovery of 48.5 metres at 0.85 g/t gold at Gowganda West. Pear Lake is a small satellite area close to the nearby Juby deposit and it is likewise encouraging that such favourable geology is present. This historically underexplored property continues to yield promising results for us."

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Saf Dhillon, Chief Executive Officer, stated: "We are excited by the prospects our recent DEP survey has uncovered, including a 5.6 g/t Au grab sample in a new area with high geological prospectivity. Our recent drill intersection of 48.5m of 0.85 g/t Au in hole IMGW-23-04 announced on June 6 th of this year, strongly support our belief mineralization increases toward the southwest. As a result, we have extended our DEP program to the western portion of our claims in a further effort to increase our mineralization footprint. We continue to believe in the potential for new discoveries at this historically underexplored property."

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Freegold Announces Start of 2024 Drilling Program at Golden Summit

Freegold Announces Start of 2024 Drilling Program at Golden Summit

Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce the commencement of drilling at Golden Summit with two diamond drill rigs focused on identifying zones of higher grade gold mineralization.

Freegold Ventures Limited Logo (CNW Group/Freegold Ventures Limited)

Mineralization identified in the 2020 - 2023 drill programs demonstrates the higher-grade mineralization dips moderately south towards the Dolphin intrusive and is bounded toward the north by significant faulting. Mineralization is deeper toward the south.

In 2023, the drill program at Golden Summit successfully discovered higher-grade mineralization on the western side of the existing resource at a shallower depth. Building on this success, in 2024, the plan is to continue drilling on the western part of the Dolphin/Cleary deposit and extend the drilling coverage further to the west. Three distinct geochemical trends have been identified: two south-southwest flanking trends and a clear east-west trend spanning an additional 1.5 km. As Golden Summit is non-glaciated, the surface geochemistry has proven to be an excellent indicator of near-surface gold mineralization. The 2024 drill program aims to explore these trends to identify higher-grade shallow mineralization to improve the overall resource grade before commencing with economic studies. The current pit-constrained primary mineral resource at Golden Summit ( Feb. 2023 ), using a $1,792 gold price and a 0.45 g/t cut-off, is 12,011,000 oz @ 0.92 g/t Au (407,544,000t) indicated and 7,736,000 oz @ 0.85 g/t Au (282,303,000t) inferred.

Highlights from the 2023 Drill Program targeting the area west of Willow Creek

GS2314

Hole GS2314, located 150 metres west of 478950E, was drilled to the west.



HOLE
NUMBER

AZIMUTH

DIP

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2314

270

-70

748.6

125

141.5

16.5

2.1





293.6

296

2.4

82.5





385.7

499

113.3

5.42

including




480.7

489.8

9.1

6.5

including




495.9

499

3.1

160

GS2331

Targeted the area to the north of the historic known veins, intersected several
zones of higher-grade mineralization



HOLE
NUMBER

AZIMUTH

DIP

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2331

360

-50

543.2

19.4

37

17.6

0.56





215.5

259.4

43.9

0.92





276.5

288

11.5

2.0





370.9

406.8

35.9

1.41

GS2332

Drilled on the western edge of the current resource. Returned broad zones
higher than resource grade, including multiple high-grade intercepts



HOLE
NUMBER

AZIMUTH

DIP

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2332

360

-55

709.9

104.5

107.6

3.1

41.4





355.7

358.8

3.1

25.3





383.1

413.6

30.5

1.02





474.6

500.8

26.2

1.23





543.8

614.8

71

1.0

including




582.8

614.8

32

1.38

GS2333

The farthest southwest hole collared 200 metres west of the previous drilling,
outside the existing resource and within a 1.5-kilometre-long gold-in-soil
geochemical anomaly.



HOLE
NUMBER

AZIMUTH

DIP

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2333

360

-50

632.2

106.7

107.6

0.9

12.15





165.2

202.4

37.2

0.66





355.7

632.2

276.5

1.76

including




355.7

404.5

48.8

1.31

including




438

505.1

67.1

4.25

including




502

505.1

3.1

79

including




608.3

632.2

23.9

4.09

including




614.4

617.5

3.1

24.2

GS2334

Drilled to the south. GS2334 appears to have drilled over the top of the
projected zone of mineralization intersected in GS2333



HOLE
NUMBER

AZIMUTH

DIP

DEPTH
(M)

FROM

(M)

TO

(M)

INTERVAL
(M)

AU
G/T

GS2334

180

-50

660.8

183.6

627.3

443.7

0.71

including




325.2

520.3

195.1

1.06

including




399.6

401.4

1.8

45.1

including




587

627.3

40.3

0.84

GS2335

It was drilled just west of Willow Creek, on the western edge of the current
resource. Returned higher than resource grade, including multiple high-grade
intercepts. GS2335 is notable in that it is closer to surface at significantly
higher resource grade than seen on the east side of Willow Creek



HOLE
NUMBER

AZIMUTH

Dip

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2335

360

-55

810.8

63.2

64.1

0.9

12.2





96.6

511.1

414.5

0.8

including




96.6

230.1

133.5

1.43

including




142.3

145.4

3.1

27.1

GS2336

It was drilled just west of Willow Creek, on the western edge of the current
resource and behind 2335. Returned higher than resource grade, including
multiple high-grade intercepts. GS2336 is notable in that it is closer to surface
at significantly higher than resource grade than seen on the east side of
Willow Creek



HOLE
NUMBER

AZIMUTH

Dip

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2336

360

-55

831.3

15.9

31.1

15.2

0.52





166.1

218.5

52.4

0.59





257.7

677.3

419.6

0.86

including




308.2

327.7

19.5

4.26

including




308.2

311.2

3

25.3

including




483.1

504.7

21.6

1.09

including




521.8

558.4

36.6

2.86

including




521.8

524.9

3.1

28.8

including




655.9

677.3

21.4

0.75





708.7

726

17.3

0.86





758.2

772.4

14.2

1.43

GS2337

It was drilled at an azimuth of 315 o to cross the Tolovana Vein swarm
extensions to the southwest. The hole successfully intersected various zones
of higher-grade mineralization.

HOLE
NUMBER

AZIMUTH

Dip

DEPTH
(M)

FROM
(M)

TO
(M)

INTERVAL
(M)

AU
G/T

GS2337

315

-50

784.3

260

704

444

0.85

including




341

354.7

13.7

1.21

including




367.8

443

75.2

1.31

including




367.8

369

1.2

20.2

including




506

517

11

2.27

including




552.1

575

22.9

0.94

including




668

704

36

2.01

including




668

671

3

13.45

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.


A plan map showing the locations of the drill holes targeting the area west of Willow Creek can be found here:

https://freegoldventures.com/site/assets/files/6287/goldensummit_dolphin-cleary_resource_drilling_western_a.pdf

In addition to the ongoing drill program, metallurgical, baseline environmental, cultural resource, and wetland studies are underway. An updated mineral resource estimate based on the 2023 drill program is scheduled to be completed by the end of Q2 2024.

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. Each core sample is crushed to better than 70 %, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS's Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the little fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities.

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska . Through leases, it holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/23/c3893.html

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