Vancouver - July 22, 2010 - Imperial Metals Corporation (III-TSX)
reports significant intervals of copper/gold mineralization in the WX zone, located south of the Springer pit at the Company’s Mount Polley property.
The WX zone mineralized intercepts received to date have high gold to copper ratio. Drill hole WX10-06 cut 190.0 metres grading 0.53% copper and 0.86 g/t gold starting at 97.5 metres depth with the 40.0 metre interval below 242.5 metres depth grading 1.30% copper and 2.46 g/t gold.
In addition to high gold to copper ratio, the WX zone appears have considerable size potential. The combined mineralized interval length over a 421.7metre length in drill hole WX10-08 is 362.3 metres consisting of 55.6 metres of 0.23% copper and 0.35 g/t gold, 22.5 metres of 0.10% copper and 0.23 g/t gold and 284.2 metres of 0.30% copper and 0.55 g/t gold.
Significant intervals from WX drilling:
Drill Hole #
WX mineralization is characterized by strong chalcopyrite with pyrite and less commonly by chalcopyrite with bornite. The copper sulphide mineralization occurs in brecciated intrusive, as well as unbrecciated monzonitic host rock. The high gold to copper ratio, which is among the highest on the Mount Polley property, is similar to the C2 zone, located approximately 200 metres to the east. Exploration at WX zone is ongoing.
Further drilling was also conducted in the Junction zone located to the northwest of the Springer pit. Drill hole JZ10-52 was collared 210 metres north of the northern rim of the planned Springer pit, and intersected 147.5 metres grading 0.21% copper and 0.21 g/t gold starting at 160.0 metres depth. Other results include 17.5 metres of 0.26% copper and 0.65 g/t gold in JZ10-57 and 68.7 metres of 0.26% copper and 0.30 g/t gold in JZ10-61. The Junction zone will remain an area of interest for exploration in 2010.
Underground development to access the Boundary zone has been initiated from a portal collared on the 876 metre bench of the Wight pit. From this portal a 500 metre long ramp will be excavated to provide access for further exploration and development of 517,066 tonnes grading 2.45% copper, 1.50 g/t gold and 14.00 g/t silver of measured and indicated Boundary/Zuke zone resource. Ramp completion is expected in the third quarter 2010. At that time, underground exploration drilling will commence to further define and explore the high grade breccia bodies that exist in that area. This is the first time underground workings have been established at Mount Polley, an important step in confirming the feasibility of underground mining. The Boundary/Zuke zone, along with other areas of high grade underground mineralization at Mount Polley, may be mined to provide higher grade material to supplement the open pit mill feed.
Two exploration drill rigs will remain active at Mount Polley until year end. A drill plan map along with an updated table of significant intercepts will be posted on the Company’s website.
Steve Robertson, P.Geo., the designated Qualified Person as defined by National Instrument 43-101 for the exploration programs, has reviewed this news release. 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 labs. The porphyry and breccia related deposits at Mount Polley are irregular in shape and true thicknesses have not been estimated.
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. View Accompanying Maps
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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