iMetal Resources Inc.

10/04/2019 | Press release | Distributed by Public on 10/04/2019 07:20

iMETAL COMPLETES INDUCED POLARIZATION (“IP”) GEOPHYSICAL SURVEY AND IDENTIFIES MULTIPLE LARGE HIGH PRIORITY ANOMALIES

VANCOUVER, British Columbia, October 4 th, 2019 - iMetal Resources Inc. (TSX.V: IMR) ('iMetal' or the 'Company') is pleased to announce that it has completed a 46.5 line kilometer induced polarization ('IP') survey on their Gowganda West Gold project. The survey was completed by Abitibi Geophysics Inc., ('Abitibi') using their proprietary OreVision® IP technology. The survey targeted iMetal's Zone 1 South and Zone 3A/3B (see press release, July 18th, 2019).

Multiple sizeable chargeability anomalies have been identified, which extend locally from surface to a vertical depth of approximately 500 metres and lateral width extents of up to 1.4 km. In conjunction with our prospecting, phase 1 drilling results and our VTEM survey the IP anomalies from Zone 1 South and Zone 3A/3B are currently under review in order to identify drilling targets.

Dave Gamble, P. Geo. and QP commented: 'It is extremely exciting to see so many high priority IP drill targets generated within this initial IP geophysical survey on these two grid areas. The current IP results are well beyond our expectations. We look forward to the upcoming drill program with keen anticipation'.

A three dimensional video made by Insidexploration presented by Dave Gamble, P. Geo, QP, discussing the results of the IP survey can be viewed at https://youtu.be/sYXFoy-HeuE.

Subsequent to the review and interpretation of the Company's accumulated geological database the technical team has developed a better geological understanding of Zone 1 and Zone 3A/3B. The results from the IP survey conducted in August 2019 shows that the shallow drill holes drilled in February of 2019 were located to the east and above the IP anomalies at depth. The results of the initial Zone 1, South drilling program demonstrated the presence of a pyritic-gold bearing mineralized hydrothermal alteration system on the Gowganda West property, which can be seen in greater detail in the IP results.

The combined data provides a highly encouraging geological setting for this year's drilling campaign.