Business
iMetal Options 100% of the Advanced Kerrs Gold Deposit in Ontario's Prolific Abitibi Greenstone Gold Belt
VANCOUVER, BC / ACCESSWIRE / January 25, 2022 / iMetal Resources, Inc. (TSX.V:IMR)(OTC PINK...
About this update from Imetal Resources Inc.
[{"type":"text","content":"iMetal Options 100% of the Advanced Kerrs Gold Deposit in Ontario’s Prolific Abitibi Greenstone Gold BeltVANCOUVER, BC / ACCESSWIRE / January 25, 2022 / iMetal Resources, Inc. (TSX.V:IMR)(OTC PINK:ADTFF)(FRANKFURT:A7V2) (\"iMetal\" or the \"Company\") is pleased to announce it has entered into an agreement pursuant to which it has been granted the option to acquire the 665 hectare Kerrs Gold Deposit, 90 kilometres east-northeast of Timmins, Ontario, in the Abitibi Greenstone Gold Belt.The Kerrs Gold Deposit is comprised of a series of gold-bearing pyritized quartz vein replacement breccias enveloped by quartz fuchsite carbonate vein breccias averaging 10 metres in thickness. The deposit hosts an historical resource estimate of 7,041,460 tonnes grading 1.71 g/t gold yielding 386,467 ounces at a 0.5 g/t gold cut-off. Drilling subsequent to the historic estimate appears to have extended the mineralized zone along strike and down dip.\"The Kerrs Gold Deposit is a significant advanced gold asset located in one of the premier mining camps in Canada,\" commented iMetal CEO Saf Dhillon. \"The Company leapt at the chance to complement our existing Ontario gold portfolio with the Kerrs Deposit. Once the technical team completes a thorough review of the historical database, iMetal will concentrate on both bringing the historical resource current as well as formulating a development plan to further expanding it.\" he continued.The Kerrs Gold historical resources estimate was disclosed in \"NI 43-101 Resource Estimation on the Kerrs Gold Deposit, Matheson, Ontario\" prepared for Sheltered Oak Resources Inc. by Garth Kirkham, P. Geo of Kirkham Geosystems Ltd. and dated June 10, 2011. The Company considers the resource estimate relevant as it will drive further exploration by the Company and reliable, as it was completed by a competent Qualified Person to the standards of the day. The resource estimation methods and parameters were as follows:Forty-one drill holes were utilized to interpolate the KBX Zone.Composite length of 2 m was chosen and composites were weighted by length.Sectional interpretations were wire-framed to create 3-D solids of the zones.Zones were coded to the composites, and the block model, to constrain the modeling process.Composites for the mineralized zone were used to interpolate into the blocks for each zone.Ordi...