Red Chris Drill Hole Returns 1.7% Copper and 3.3 g/t Gold Over 276 Metres

VANCOUVER, British Columbia, March 10, 2020 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports partial results from a drill hole located in the deep East zone at the Red Chris mine, and updates on drill programs by Newcrest, operator of the Red Chris Joint Venture.

There are two drilling campaigns presently underway at Red Chris. The first is the East Zone Resource Definition Programme which is designed to obtain geological, geotechnical and metallurgical data to support future studies for underground block cave mining. The second is the Brownfields Exploration Programme, which is searching for additional zones of higher grade mineralization within the Red Chris porphyry corridor. A total of 9,235 metres of drilling has been completed since December 2019, contributing to a total of 26,735 metres of drilling being completed since Newcrest acquired its interest in the joint venture on 15 August 2019.

The East Zone Resource Definition Programme comprises 16 angled drill holes of which seven have been completed. Latest results are:

•   RC600 returned:

• 188m @ 0.52 g/t Au and 0.54% Cu from 570m
• including 64m @ 0.86 g/t Au and 0.89% Cu from 658m
• including 20m @ 1.3 g/t Au and 1.3% Cu from 662m

•   RC602 returned:

• 386m @ 0.43 g/t Au and 0.46% Cu from 458m
• including 88m @ 1 g/t Au and 0.91% Cu from 596m
• including 44m @ 1.3 g/t Au and 1.1% Cu from 622m

•   RC611 returned:

• 276m** @ 3.3 g/t Au and 1.7% Cu from 684m
• including 266m** @ 3.5 g/t Au and 1.7% Cu from 684m
• including 150m @ 5.6 g/t Au and 2.5% Cu from 688m
• including 74m @ 9.1 g/t Au and 3.8% Cu from 720m
• including 22m @ 13 g/t Au and 4.7% Cu from 738m

** partial intercept awaiting results for the remainder of the hole

Drilling continues to refine the overall geometry of the system and controls to high-grade gold-copper mineralization within a sub-vertical zone approximately 600 metres long, 300 metres wide, and 600 metres vertically. Mineralization is supported by extensive historical Imperial drilling data. On completion of the East Zone Resource Definition Programme, Newcrest intends to construct a new Resource Model incorporating both historical and Newcrest drilling data.