Highlights:
- A total of 2,640 meters was completed in 6 holes to expand the mineralized footprint of IMGW23-04 along strike and up and down dips.
- The original plan to drill 2,500 meters was expanded to 2,640 meters based on recommendations from the geological team on site.
- McFarlane Lake Mining Limited, adjacent to the northwest, has identified a parallel zone to the Juby Zone within the regional Ridout-Tyrrell Deformation Zone, the 826 Zone, which appears to be evolving into the 2025 drilling area.
“We are pleased with the progress we have made during this exercise program.” said iMetal President & CEO Saf Dhillon. “With the rise in gold prices over the past two years, increased liquidity in the general metals and mining markets in general and developments in our neighboring countries, we eagerly await the return of testing from the laboratory!”
Drilling intersected target host rocks that exhibited alteration patterns and mineralization similar to those intersected in the 2023 drill program. The dominant lithology intersected was the Indin Lake Group polymictic conglomerate previously intersected in IMGW23-04, as well as local mafic and felsic dykes. Zones of moderate to profound hematization/potassium alteration, sericitization and silicification were noted in the boreholes. Mineralization included disseminated and clast-replacing controlled pyrite, while a few holes also intersected local chalcopyrite vein fractures or plurimillimetric clusters.
Logging is almost complete and core saw sampling is in full swing. Once each hole is completed, samples are sent to the laboratory.
QA/QC
A rigorous QA/QC program is also underway. A certified standard and a blank are inserted at intervals of every thirty samples. Every 30e sample is also duplicated. All samples are sent to ALS Minerals Val D’Or and undergo standard CRU-21 and PREP-31 preparation procedures. All samples are analyzed using the Au-AA24 procedure, a 50 gram gold fire test with an AAS finish. Intervals of visible chalcopyrite will also undergo a ME-ICP41 procedure.
Figure 1. Locations of boreholes 2026
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Table. 2025 Boreholes
| Hole_ID | 83Z17E | 83Z17N | Azimuth | Dive | Length |
| IMGW-25-06 | 502468 | 5270029 | 225 | -45 | 336 |
| IMGW-25-04 | 502443 | 5270069 | 225 | -45 | 393 |
| IMGW-25-01 | 502535 | 5269969 | 225 | -45 | 411 |
| IMWM-25-02 | 502574 | 5269916 | 225 | -45 | 486 |
| IMWM-25-05 | 502557 | 5270046 | 225 | -45 | 543 |
| IMGW-25-04 | 502454 | 5269956 | 225 | -45 | 471 |
The Gowganda West property hosts a large suite of gold potential Timiskaming metasediments, approximately 7 km wide and up to 5 km wide, hosting all the gold mineralization discovered on the property to date. Successive drilling programs advancing southwest continued to intersect increasing changes and gold values in suspected NW trend zones and led directly to the IMGW23-04 discovery hole. The 48.5 meter gold interval is characterized by a coarse-grained to boulder conglomerate, with moderate to pervasive silica alteration associated with a large intermediate dyke. The 2022 and 2023 drilling programs appear to indicate a strong correlation between silica change intensity and increased gold quality. Gowganda West is an exploration-stage gold project located approximately 100 km southeast of Timmins, Ontario; adjacent to McFarlane Lake Mining’s Juby Deposits Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; and also following on from the Knight project which is part of the Strategic Partnership between Orecap Invest Corp. and Agnico Eagle Mines Ltd. iMetal’s drilling program in Fall 2022 and Spring 2023 was successful in intersecting new gold trends in the SW portion of the property. The property also has multi-ounce samples of trends that have yet to be tested.
Qualified person
The technical content of the new release has been reviewed and approved by R.Tim Henneberry, P.Geo. (BC), a director of the company and a qualified person under National Instrument 43-101.
About iMetal Resources Inc.
iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resources in Ontario and Quebec. The flagship Gowganda West is an exploration stage gold project with a recent 48.5m discovery hole weighing 0.85g/t gold adjacent to the Juby Deposit and located in the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt, approximately 100km south-east of the Timmins Gold Camp. Located 26 miles NE of Kirkland Lake, Ghost Mountain’s 500-acre site is 3 miles west of Agnico Eagle’s Holt and Holloway Mine. Carheil is an exploration phase project with multi-metal potential and previous graphite results. The project is located approximately 170 km north of Rouyn-Noranda in the northern Abitibi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
Chairman & CEO
https://imetalresources.ca
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This press release may contain forward-looking statements or forward-looking information under applicable Canadian securities laws that may not be based on historical fact, including, but not limited to, statements containing the words “believe,” “may,” “plan,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “potential” and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of iMetal to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information contained in this press release relate to, among other things, the ability to complete a transaction with Seller and the outstanding terms and conditions of such transaction. These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the Company’s ability to successfully pursue its current development plans, that future sources of financing will be available to the Company, that relevant commodity prices will remain at levels economically feasible for the Company and that the Company will receive relevant permits in a timely manner to enable its operations. However, given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update or publicly announce any such statements, events or developments, except as required by law.
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