|July 03, 2007|
Imperial Intersects 1.12% Copper Equivalent Over 400 Metres at Mount Polley
|Vancouver, BC - July 3, 2007 - Imperial Metals Corporation (TSX:III) reports the results of ongoing drilling at Mount Polley, initiation of drilling at Red Chris, and the ramp progress at Sterling. |
Drilling from the bottom of the Wight Pit has been rewarding. WB07-241 returned 409.1 metres grading 0.80% copper, 0.39 g/t gold and 5.72 g/t silver, including higher grade sections: 45.0 metres grading 1.53% copper, 0.70 g/t gold and 10.21 g/t silver; 10.0 metres grading 2.30% copper, 2.28 g/t gold and 26.0 g/t silver; and 11.3 metres grading 1.51% copper, 0.57 g/t gold and 10.72 g/t silver. WB07-241 was designed to target a prospective area for future underground mining of mineralization beneath the final Wight Pit design.
A new zone of mineralization has also been discovered to the north of the Wight Pit which intersected 101.6 metres grading 0.42% copper, 0.13 g/t gold and 4.62 g/t silver. WB07-239 represents a significant intercept of newly discovered mineralization which is over 500 metres north of the northern edge of the final Wight Pit design. The intercept is hosted in a hydrothermal breccia similar to the Northeast Zone, and is capped by 90.2 metres of Jurassic volcanics that have been mapped on surface.
To date, the 2007 Mount Polley diamond drill program has totaled 28,136 metres in 85 holes with emphasis on the Springer Zone where 16,197 metres in 42 holes were drilled. In SD07-45, the most northern hole in the Springer Zone, 255.0 metres grading 0.21% copper and 0.32 g/t gold were intercepted. This long interval of mineralization confirms the continuation of mineralization at the northern end of the Springer Zone and the need to extend the limits further to the north. Drilling will continue with one diamond drill on a variety of targets throughout the summer season.
Initial trenching in the Skid Zone, south of the Wight Pit, has been encouraging with the visual identification of chrysocolla and malachite in a magnetite breccia. A systematic trenching program will continue to test the area in July. Diamond drilling will follow in late summer or fall, as warranted.
Steve Robertson, P.Geo. is the designated Qualified Person as defined by National Instrument 43-101 for the exploration programs described. Samples for the diamond drilling reported at Mount Polley were analyzed at the Mount Polley mine laboratory and Acme Analytical Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was maintained for all samples submitted to the lab. The porphyry and breccia related deposits at Mount Polley are irregular in shape and true thicknesses have not been estimated. The copper equivalent value was calculated using the formula [EqCu% = Copper (%) + Gold (g/t) / 1.44 + Silver (g/t) / 116].
The Mount Polley mine is located 56 kilometres northeast of Williams Lake, British Columbia.
Drilling Begins at Red Chris
Two diamond drills are currently operating at Red Chris, targeting deep mineralization beneath the currently defined East and Main Zones. Four to six holes, each with a target depth of 1,000 metres will be drilled this summer. At the completion of drilling, the two drills will be repositioned to Imperial's other projects. The Red Chris project was acquired earlier this year and a development certificate has been issued by the BC Environmental Assessment Office allowing development of a 30,000 tonne per day operation at the site. The Red Chris property is located 20 kilometres southeast of the village of Iskut in northern British Columbia.
Sterling Ramp 2/3 Complete
The access ramp at the Sterling property 144 Zone is progressing well with 2,187 feet of the planned 3,300 foot ramp complete. The ramp is expected to reach the 144 Zone in September. When the ramp development is completed, underground diamond drilling to confirm and extend the 144 Zone will be conducted. Property scale mapping and sampling continues to define additional targets that will be drill tested in the fall subject to availability of drill equipment. Sterling is located near the town of Beatty, Nevada, 185 kilometres northwest of Las Vegas.
Imperial is a mine development and operating company based in Vancouver, British Columbia. The Company's key properties are the Mount Polley open pit copper/gold producing mine (100% interest) in central British Columbia, the Huckleberry open pit copper/molybdenum producing mine (50% interest) in northern British Columbia, the development stage Red Chris property (100%) in northern British Columbia, and the Sterling gold mine (100% interest) in southwest Nevada.
Contact Information: Brian Kynoch, President 604.669.8959; Patrick McAndless, Vice President Exploration 604.488.2665; Sabine Goetz, Investor Relations 604.488.2657 // website: www.imperialmetals.com // email: firstname.lastname@example.org
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