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iMetal Resources Inc. (TSXV: IMR,OTC:IMRFF) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") has completed 2025 Phase I drilling at the Company's Gowganda West ("GW") project. Core logging and sampling is in progress and samples will be sent to the ALS Minerals laboratory in Val D'or, Quebec. The drill program focused in the area of IMGW23-04, at the location of the spring 2023 discovery hole of 48.5m of 0.85 gt Au starting at 316.5m (see News Release dated 2023-Jun-06).
Highlights:
- A total of 2,640 metres were completed in 6 holes to expand the mineralized footprint of IMGW23-04 along strike and up and down dip.
- The original plan to drill 2,500 metres was expanded to 2,640 metres based on recommendations of the onsite geological team.
- McFarlane Lake Mining Limited, contiguous to the northwest has identifed a parallel zone to it's Juby Zone within the regional Ridout-Tyrrell Deformation Zone, the 826 Zone, which appears to trend into the area of the 2025 drilling.
"We are happy with the progress we have made during this drill program." commented iMetal President & CEO Saf Dhillon. "With the runup in the price of gold over the past two years, the increased liquidity in the overall metals and mining markets in general and the developments with our bordering neighbours, we anxiously anticipate the return of the assays from the lab!"
The drilling intersected the targeted host rocks that exhibited alteration patterns and mineralization similar to that which was intersected in the 2023 drill program. The dominant lithology intersected was polymictic conglomerate of Indin Lake Group previously intersected in IMGW23-04, as well as local mafic and felsic dykes. Zones of moderate to pervasive hematization /potassic alteration, sericitization and silicification were noted in the drill holes. Mineralization included disseminated and clast-replacement controlled pyrite, while a few holes also intersected local chalcopyrite vein fractures or plurimillimetric clusters.
Core logging is wrapping up and core saw sampling is well underway. Samples will be sent to the lab as each hole is completed.
QA/QC
A rigorous QA/QC program is underway as well. A certified standard and a blank is inserted at an interval of every thirty samples. Each 30th sample is also be duplicated. All samples will be shipped to ALS Minerals Val D'Or and undergo the standard preparation procedures of CRU-21 and PREP-31. All samples will be analyzed utilizing the Au-AA24 procedure, a 50-gram gold fire assay with an AAS finish. Intervals of visible chalcopyrite will also undergo an ME-ICP41 procedure.
Figure 1. 2026 Drill Hole Locations
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Table. 2025 Drill Holes
| Hole_ID | 83Z17E | 83Z17N | Azimuth | Dip | Length |
| IMGW-25-06 | 502468 | 5270029 | 225 | -45 | 336 |
| IMGW-25-04 | 502443 | 5270069 | 225 | -45 | 393 |
| IMGW-25-01 | 502535 | 5269969 | 225 | -45 | 411 |
| IMGW-25-02 | 502574 | 5269916 | 225 | -45 | 486 |
| IMGW-25-05 | 502557 | 5270046 | 225 | -45 | 543 |
| IMGW-25-04 | 502454 | 5269956 | 225 | -45 | 471 |
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The Gowganda West property hosts a large package of gold prospective Timiskaming metasediments, approximately 7 km in strike and up to 5 km in width, that hosts all the gold mineralization thus far discovered on the property. Successive drill programs advancing to the southwest continued to intersect increasing alteration and gold values in suspected NW trending zones and lead directly to the IMGW23-04 discovery hole. The 48.5m gold interval is characterized by a coarse-grained to boulder-sized conglomerate, with moderate to pervasive silica alteration associated with a large intermediate-mafic dyke. Ther 2022 and 2023 drill programs appear to suggest a strong correlation between the intensity of the silica alteration and increased gold grades. Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario; contiguous to McFarlane Lake Mining's Juby Deposits Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; and also contiguous to the Knight project that is part of the Strategic Partnership between Orecap Invest Corp. and Agnico Eagle Mines Ltd. iMetal's fall 2022 and spring 2023 drill program were successful in intersecting new gold trends in the SW section of the property. The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.
Qualified Person
The technical content of the New Release has been reviewed and approved by R.Tim Henneberry, P.Geo. (BC), a director of the Company and a Qualified Person under 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. The flagship property Gowganda West is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold 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 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle's Holt and Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
President & CEO
iMetal Resources Inc.
saf@imetalresources.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
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 release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of iMetal to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the potential to complete a transaction with the Vendor and the outstanding conditions to such a transaction. These forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
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