IMC International Mining Corp. Provides Update on Thane Property Work Program
IMC International Mining Corp. (CSE:IMCX, OTC:IMIMF, FRA:3MX) has successfully completed a 10-week summer work program at its Thane Property in British Columbia. This program included ground geophysics and sampling, with 194 rock samples and 467 soil samples collected. Weather delays pushed the geophysical survey start to August 9th, covering 11.6 kilometers. A new mineral showing was discovered in the Cathedral Area, enhancing exploration potential. CEO Brian Thurston expressed satisfaction with the progress and emphasized the importance of the data for upcoming drilling plans.
- Successful completion of a 10-week summer work program.
- Collection of 194 rock samples and 467 soil samples.
- Discovery of a new mineral showing in the Cathedral Area.
- Geophysical survey start delayed by nearly a month due to weather.
- Potential risks from market fluctuations affecting exploration funding.
VANCOUVER, BC / ACCESSWIRE / September 9, 2020 / IMC International Mining Corp. (CSE:IMCX) (OTC:IMIMF) (FRA:3MX) (the "Company" or "IMC"), is pleased to provide an update on its summer work program at its Thane Property in Northern British Columbia, Canada. The Company has completed a 10-week program which included ground geophysics, alteration mapping, along with rock, soil, and silt sampling. In total, the Company was able to collect 194 rock samples, 467 soil samples, and 3 silt samples from the Cathedral Area, as well as 29 soil samples collected from the Cirque area and 77 soil samples from the Mat area.
The main focus of the Phase 1 summer work program consisted of an Induced Polarization ("IP") geophysical survey. Snow and weather conditions delayed the start of this geophysical survey by almost an entire month with work commencing August 9th. In total, 11.6-line kilometers were surveyed at the Cathedral Area. A total of 4 lines totaling approximately 7.1-kilometers with IP stations set at 100-meter spacings, and 3 lines totalling approximately 4.5 kilometers were surveyed with IP stations set at 25-meter spacings. The IP crew then moved and completed a single 1.5-kilometer line in the Cirque area to finish off the program. Rendering of the geophysical data is underway with a final interpretation expected within the next 2 weeks.
Soil samples were taken at 25-meter spacings along the IP grids since rock exposure in the lower valley is rare. Rock, soil and silt samples have been sent to ALS Laboratory in North Vancouver for analysis. As the results become available, the Company will provide updates via press releases.
A new showing within the Cathedral Area was discovered, which consisted of a 1.5-meter zone of magnetite breccia and veins on the hanging wall, and pyrite with lesser chalcopyrite in veins toward the footwall. The showing appears to have utilized a pre-existing joint which experienced significant dilation. Several rock samples were taken from this area and sent for assaying.
Geological and alteration mapping was centered on the Cathedral Area to help define areas most promising for a drill program. This work is now being compiled and will be used along with the Geochemical results and the Geophysical interpretation to target drill sights. The Company has also logged over 100 geological reference samples and created a digital geological library for the all rock units.
"We are very pleased with what was accomplished in our Phase 1 summer work program. The information that was collected has increased our understanding of the property and provided necessary data to aid in selecting sites for a drill campaign," stated Brian Thurston, Chief Executive Officer. "Although the late snow melt this year delayed the start of our work, we are still committed to compiling this summer's information as quickly as possible to commence drill pad construction."
ON BEHALF OF IMC INTERNATIONAL MINING CORP.
Brian Thurston
Chief Executive Officer
Telephone: +1-778-928-6565
ABOUT IMC INTERNATIONAL MINING CORP.
IMC is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia, and the Bullard Pass Property in Arizona. Utilizing its heavily experienced management team, IMC continues to source and evaluate assets to further generate shareholder value.
The Thane property covers approximately 206 km2 (50,904 acres) and is located in the Quesnel Terrane of north-central British Columbia. The northern part of the Quesnel Terrane extends from south of the Mt. Milligan Mine northward to the Kemess Mine, with the Thane property located midway between these two copper-gold porphyry deposits. The Thane property includes several highly prospective mineralized areas identified to date, including the ‘Cathedral Area' on which the Company's exploration is currently focused.
The Bullard Pass Property is comprised of 171 unpatented federal lode claims totaling 3,420 acres and is located in west-central Arizona, northwest of Phoenix, within the Pierce Mining District of Yavapai County. The property has a regional setting typical of detachment fault gold deposits and has geological, mining and metallurgical similarities to the Mesquite Mine in California. The claims are
INVESTOR RELATIONS:
Email: ir@imcxmining.com
Telephone: +1-604-588-2110
https://imcxmining.com
Cautionary Note Regarding Forward-Looking Information and Forward-Looking Statements:
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) completion of the Offering; (ii) receipt of regulatory acceptance for the Offering; (iii) the Company's intentions to use the gross proceeds from the Offering to fund exploration programs on its Thane Property in north-central British Columbia; (iv) the Company's intention to acquire further mineral properties; and (v) the Company's business and plans, including with respect to undertaking further acquisition and carrying out exploration activities in respect of its mineral projects. All forward-looking statements are based on the Company's current beliefs as well as various assumptions made by the Company and information currently available to the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct, and actual results and future events could differ materially. Readers are cautioned not to place undue reliance on any forward-looking statements in this news release. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the Company's business and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises such as COVID-19, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises such as COVID-19, that may result in a slowdown or temporary suspension of operations by the Company; the risks that the Offering may not complete as contemplated (or at all), the risks related to the Company's ability to obtain necessary regulatory approvals for the Offering; the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; conclusions of future economic evaluations; business integration risks; fluctuations in the securities market; that the Company's plans and prospects will vary from those stated in this news release; that the Company does not complete any further acquisitions; that the Company does not carry out exploration activities in respect of its mineral projects as planned (or at all); and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements in this news release. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. All forward-looking statements in this news release are made as of the date of this release.
The Canadian Securities Exchange has not reviewed, approved or disapproved of the contents of this news release.
SOURCE: IMC International Mining Corp.
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