Business
IMA Announces New Island Copper Drill Results
(via Thenewswire.ca)
About this update from Greenfirst Forest Products Inc
[{"type":"text","content":"IMA Announces New Island Copper Drill Results\n\n(via Thenewswire.ca)\nIMA Exploration Inc. (IMR-AMEX, IMR-TSX.V) (\"IMA\" or the \"Company\") is pleased to announce the assay results from the fall 2008 drilling program on its Island Copper Project on northern Vancouver Island, British Columbia. Between October and December 2008 the IMA completed 13 HQ size diamond drill holes totaling 5,123 metres in two target areas, consisting of eleven step-out exploration holes at the NW Expo gold-molybdenum-rhenium-(copper) target and two infill holes at the Hushamu copper-gold deposit.\n\nNW Expo drilling expanded the mineralized zone to the north and west of previous drilling with highlights including:\n\n· 238m @ 0.61 g/t gold, 0.08% copper, 0.010% molybdenum & 0.26 g/t rhenium (EC08-254) - 0.96 g/t AuEQ*\n\n· 102m @ 0.12 g/t gold, 0.01% copper, 0.020% molybdenum & 0.75 g/t rhenium (EC08-252) - 0.63 g/t AuEQ*\n\n· 124m @ 0.30 g/t gold, 0.05% copper, 0.017 % molybdenum & 0.36 g/t rhenium (EC08-252) - 0.71 g/t AuEQ*\n\n· 92m @ 0.22 g/t gold, 0.02% copper, 0.030% molybdenum and 2.21 g/t rhenium (EC08-250) - 1.38 g/t AuEQ*\n\nHighlights from the Hushamu drilling include:\n\n· 179.3m @ 0.47 g/t gold, 0.42% copper, 0.011% molybdenum and 0.44 g/t rhenium (EC08-03) - 0.83% CuEQ*\n\n· 164m @ 0.51 g/t gold, 0.30% copper, 0.007% molybdenum and 0.42 g/t rhenium (EC08-08) - 0.70% CuEQ*\n\n*Gold Equivalent (AuEQ) and Copper Equivalent (CuEQ) were calculated assuming 100% recovery for all metals and using long-term prices of US$750/oz for gold, US$2.00/lb for copper, US$12.50/lb for molybdenum and US$8,500/kg for rhenium.\n\nThe 42,669 hectare Island Copper Project hosts at least 6 copper-gold-molybdenum porphyry-related mineralized systems along the same trend as BHP's past-producing Island Copper Mine (345 million tonnes @ 0.41% copper, 0.19 g/t gold, and 0.017% molybdenum with by-product rhenium). Hushamu is the most advanced target on the project and hosts a NI 43-101 compliant Measured and Indicated resource of 230.9 million tonnes grading 0.28% Cu and 0.31 g/t Au, containing 2.29 million ounces of gold and 1.425 billion pounds of copper, as well as an Inferred resource of 52.8 million tonnes grading 0.28% Cu, 0.38 g/t Au, containing 326 million pounds of copper and 0.64 million ounces of gold. The 2008 d...