Vancouver, BC — October 5, 2010 — Imperial Metals Corporation (TSX: III)
reports gold mineralization from 281 face and drift wall samples collected from the 3220 level in the 144 zone at the Sterling gold property located near Beatty, Nevada about 115 miles northwest of Las Vegas.
Each five foot face advance of the 3220 level was chip sampled and assayed for gold. An average of six samples were taken after each advance, five feet vertically down the face and walls of the newly exposed drifts. The vertical chip samples were taken across the stratigraphy and averaged 0.12 ounces per ton over 368.5 feet, including several higher grade assays up to 0.48 ounces per ton.
Initiated in mid-February this year, the 3220 access ramp provides access to the western edge of the 3220 level of the 144 zone. The 3220 level was then driven east along the footwall of the 144 zone breccia to confirm gold grades and provide samples for further metallurgical testing. The drift intersected underground hole ST-09-74 which graded 0.07 ounces per ton over 78.3 feet. Chip sample assays from the corresponding portion of the 3220 level were 0.14 ounces per ton over 74.5 feet. Additional drill hole and chip sample assay comparisons will be made as the drift advances towards the eastern limit of the 144 zone.
Extension of the underground drifts will provide additional samples to further characterize the gold mineralization, information on the limits of the 144 zone and access for additional exploration drilling. A plan map along with north-south and east-west cross sections will be available on Imperial’s website.
The underground development is being completed to confirm mining methods, complete further metallurgical testing and to define a reserve sufficient to justify reopening of the Sterling gold mine.
Sterling operated as both an underground and open pit mine commencing in 1980 until closure in 2000. During this period the mine produced 194,996 troy ounces of gold from 941,341 tons of ore with an average grade of 0.217 ounces per ton (7.44 g/t) gold. In 2001 the 144 zone was discovered by exploratory drilling in an area on the southeastern periphery of the developed ore body, and lies somewhat deeper, about 750 feet below the surface. The 144 zone is hosted in stratigraphically favorable units of lower Cambrian rocks and a crosscutting latite dike, which were subjected to decalcification, silicification and brecciation. The 144 zone fits into the broad spectrum of Carlin-type deposits, but more towards the compact and structure controlled systems like Meikle and Deep Star than the larger tonnage, generally lower grade, strata controlled deposits. To date the 144 zone has been explored with 45,920 feet of surface and underground drilling and 5,894 feet of underground development.
Patrick McAndless, P.Geo. is the designated Qualified Person as defined by National Instrument 43-101 for the exploration program. The current samples were analyzed by Florin Analytical Services LLC, of Reno, Nevada.
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 in central British Columbia, the Huckleberry open pit copper/molybdenum producing mine in northern British Columbia, the development stage Red Chris copper/gold property in northwest British Columbia and Sterling gold property in southwest Nevada.
Contact: 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
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