Imperial to Focus Exploration on Sterling Gold Property in Nevada.VANCOUVER, British Columbia -- Imperial Metals Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :III) is planning to conduct exploration and development, with the objective of increasing the gold resources, on the 144 Zone at its wholly owned Sterling gold property in Nevada. The program will be funded by net proceeds of the $6.5 million non-brokered private placement announced earlier this month. The 144 Zone deposit was discovered in 2001 in an entirely new setting at Sterling, reminiscent of the structurally controlled sediment-hosted, disseminated gold deposits in the Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] trend. Gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in the 144 Zone is hosted in altered and brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec silty dolostones about 228 metres below the surface at a dolostone/limestone contact. The altered and brecciated dolostone n. 1. a stone or rock entirely composed of the mineral dolomite. unit appears to extend beyond the present limits of the 144 Zone. These extensions are prime targets for continued exploration. The planned underground exploration program will trace the mineralization laterally and vertically more efficiently. Surface drilling to explore for additional "144" type zones is also planned. Mineral resources for the 144 Zone drilled to date are 194,640 tonnes, grading 7.41 g/t gold, and contain over 45,000 ounces gold. The technical report, Sterling Property 144 Zone: Resource Summary and Exploration Proposal, is available on the Company's website at www.imperialmetals.com. The report was compiled by Greg Gillstrom, P. Eng., Geological Engineer, a Qualified Person as defined by National Instrument 43-101. The Sterling mine is located 185 kilometres northwest of Las Vegas, and is accessible by a 13 kilometre road off Highway 85 near Beatty, Nevada. Sterling is in the Walker Lane trend which hosted the 2.4 million ounce Bullfrog bullfrog, common name of the largest North American frog, Rana catesbeiana. Native to the E United States, this species has been successfully introduced in the West and in other parts of the world. The body length is 4 to 8 in. deposit 19 kilometres northwest of the Sterling property. The Sterling mine remains on care and maintenance, since operating as a high grade gold underground and open pit mine from 1980 to 1997. It produced about 200,000 troy ounces from ore with an average grade of 7.44 grams gold per tonne. Gold was recovered by run of mine heap leaching with gold recovery averaging 88%. Certain claims are subject to a 2.25% Net Smelter Return. Imperial is owner, developer and operator of the Mount Polley open pit copper/gold mine in central British Columbia, and 50% owner of the Huckleberry huckleberry, any plant of the genus Gaylussacia, shrubs of the family Ericaceae (heath family), native to North and South America. The box huckleberry (G. brachycera) of E North America is evergreen and is often cultivated. The common huckleberry (G. open pit copper/molybdenum mine in northern British Columbia. Imperial Metals Corporation (TSX:III) |
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