Imperial Acquires Mineral Claims Expanding its Sustut Property

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Imperial Acquires Mineral Claims Expanding its Sustut Property

by ahnationtalk on December 8, 202141 Views

Vancouver | December 7, 2021 | Imperial Metals Corporation (the “Company”), has acquired four mineral claims totalling 6,834.47 hectares from Freeport-McMoRan Mineral Properties Canada Inc. for the consideration of claim assessment work expenditures and a 0.5% Net Smelter Return royalty.

The acquired claims are contiguous with the Company’s Sustut property which is held by Selkirk Metals Corp. (“Selkirk”), a wholly owned subsidiary. It is located in northcentral British Columbia, approximately 40 kilometres south of the Kemess Mine. The newly acquired claims cover two Minfile occurrences, the A Bornite (094D 038) and A Chalcocite (094D057) which consist of fracture-controlled copper-silver mineralization of bornite and chalcocite hosted in the Upper Triassic Savage Mountain Formation, the same host as the Sustut Copper Deposit.

The Sustut mineralization host volcaniclastic unit is a highly variable sequence of rocks ranging from augite porphyry basalt to andesite in composition with a strike averaging 100 degrees and dipping 15 degrees to the southwest. The copper mineralization occurs in several stratiform and sub-parallel lenses which are up to 45 metres thick and conformable to the average bedding attitudes. Mineralization consists of hematite, pyrite, chalcocite, bornite, chalcopyrite and minor native copper. The Sustut deposit is divided into two main zones, the North Zone and the South Zone, which are separated by the deeply incised East Cirque. The North Zone covers an area of approximately 900 by 700 metres, while the South Zone has been defined over an area of 800 by 1,000 metres. Much of the deposit is near surface and may be mineable by open pit. The focus of the metallurgical test work and the resource tabulated below is confined to the South Zone, where the majority of the drilling has occurred.

During 2021 Selkirk retained ABH Engineering to complete X-Ray Transmission (XRT) testing on Sustut samples of mineralization from drill core to determine if XRT particle sorting could be used to reduce the volume and increase the grade of the feed to a concentrator. The XRT particle sorting study was conducted using 244 core samples from previous drilling. The XRT scans were conducted using the TOMRA sorter at the Saskatchewan Research Council.

The test results indicate that particle sorting could meaningfully improve the life of mine economics for the project. The sample tested had a grade of 1.12% copper and 4.33 g/t silver. The sorted product graded 1.86% copper and 5.62 g/t silver with 87.1% of the copper and 68% of the silver recovered into the sorted particle product. Sorting yielded a 66.1% upgrade from the feed grade for copper and a 29.7% upgrade from the feed grade for silver. The sorter rejects graded 0.30% copper and 2.91 g/t silver and contained 12.9% of the copper and 32% of the silver. ABH Engineering recommends that Selkirk move forward with further test work on XRT particle sorting on three to five larger samples ranging from low grade to high grade.

The Sustut copper deposit was acquired by Selkirk in 2007 when Selkirk acquired Doublestar Resources Ltd. Doublestar filed a 43-101 compliant report titled, “TECHNICAL REPORT Sustut Project, British Columbia”, dated October 8, 2004 and filed on SEDAR on October 25, 2004.

The Sustut historic resource description referenced in this news release is considered relevant because it demonstrates the potential viability of the project. The Company cautions readers that a Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. The Company does, however, believe the work was done to 43-101 standards at that time. To support the report, three of the more important older holes from Falconbridge were twinned with good agreement. The newer drilling, sample preparation and analyses were completed with a QA/QC program and conformed with industry standards. This program included duplicate samples, blanks, and standards in the assays. The rate at which these were inserted was approximately one per analytical batch. Results of duplicates, blanks and standards provided were satisfactory. The specific gravity of 2.85 used in the resource modelling was from lab work at Bondar-Clegg using 74 samples.

The following Sustut historic resource description is included in that report:

Doublestar Resources Ltd. – Sustut Copper Project

Mineral Resource Summary at 0.65% Copper Cutoff

Cu Cutoff Mineralised Cu Cu Cu
Category Grade (%) Tonnes Grade (%) Tonnes Pounds
Southeast Zone
measured 0.65% 3,859,000 1.81 69,900 154,102,938
indicated 0.65% 1,638,000 1.78 29,200 64,374,904
Subtotal 0.65% 5,497,000 1.80 99,100 218,477,842
Southwest Zone
measured 0.65% 1,358,000 1.32 17,900 39,462,698
indicated 0.65% 1,385,000 1.22 16,900 37,258,078
Subtotal 0.65% 2,743,000 1.27 34,800 76,720,776
Total at 0.65% Copper Cutoff Grade
measured 0.65% 5,217,000 1.68 87,800 193,565,636
indicated 0.65% 3,023,000 1.53 46,100 101,632,982
Total 0.65% 8,240,000 1.63 133,900 295,198,618

The reports resource estimate was based on the classification system defined by the CIM Standards On Mineral Resources and Reserves, Definitions and Guidelines, adopted by the CIM council on August 20, 2000. The resource was assigned a confidence category classification based on the distance from the block centroid to the nearest copper composite value within the search ellipsoid. Measured resources were considered 0 to 25 metres, indicated resource from 25 to 50 metres. Density factor of 2.85 tonnes per cubic-metre was used for all rock types.

The Company is planning to initiate a follow up exploration program in 2022 and is planning to collect bulk samples to allow for the next phase of the XRT ore sorting tests.

Brent Hilscher, P.Eng , of ABH Engineering Inc. is the designated Qualified Person as defined by National Instrument 43-101 for the X-Ray Transmission (XRT) testing on Sustut samples and has reviewed this news release.

Maps and graphics for the Sustut property will be available on the Company’s website at www.imperialmetals.com.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds a 100% interest in the Ruddock Creek lead/zinc property.

Company Contacts

Brian Kynoch | President | 604.669.8959

Jim Miller-Tait | Vice President Exploration | 604.488.2676

NT4

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