Imperial Mining Group Ltd (TSXV: IPG) has received additional high-grade assays from the Crater Lake summer drilling programme on the TG scandium-rare earth mineralized zone in Quebec.
Highlights:
- Assay results from the three additional drillholes continue to return impressive grades of 98.6 (323.4’) grading 308 g/t scandium oxide (Sc2O3), including 52.8 m (173.2’) grading 322 g/t Sc2O3 and 113.7 m (372.9) grading 278 g/t Sc2O3, including 335 g/t Sc2O3 over 10.5 m (34.4’) and including 301 g/t over 16.75 m (54.9’).
- These are the deepest cuts (150 m vertical) into the TG Zone and confirm a thickening and grade increase to the mineralization at depth.
- Elevated levels of total rare earth oxides plus yttrium (TREO+Y) of up to 0.479% characterize the scandium-bearing horizon.
- At a gold price of $1,775US/oz and a scandium oxide price of $1,500US/kg, the intersections represent a gold-equivalent value of 7.3 to 8.8 g/t Au.
Assay results have confirmed the substantial intersection widths of scandium-bearing olivine ferrosyenite reported in late October.
The drilling programme was completed in early September. Once all results have been received from the Lab and compilation of the data completed, Imperial plans to undertake an updated 43-101 Resource Estimate for the Zone. The new data plans to convert the Inferred Category Resources reported late last year.
“The summer drilling results for the Crater Lake property continue to exceed all expectations, as they continue to confirm wide intervals of scandium and TREO+Y at the TGZ target,” said Peter Cashin, Imperial’s president and CEO.
“Drilling has now defined the Zone on 50 m sections between Sections 350N and 600N and mineralization has been traced by drilling over 600m in total strike length from surface to a vertical depth of 150 m.
“Importantly, the zone appears to get wider and higher grade with depth. We anticipate that the resource will likely increase from what was previously reported for the TG.”
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