Imperial Metals Corporation (TSX:III) reports drill results from the Ruddock Creek project located 155 kilometres northeast of Kamloops in southeast British Columbia.
The recently completed surface drill program, designed to further define the Creek zone, completed 3583.0 metres from 17 drill holes over 3 drill sites. Highlights include 11.16% zinc and 2.09% lead over an estimated true thickness of 6.26 metres in drill hole RD-10-195.
These drill results confirm the massive sulphide mineralization of the Creek zone is continuous over a length down plunge to the west of over 400 metres and down dip to the north for approximately 150 metres. The attitude of the Creek zone is similar to that of the lower E, F, U, V, R and Q zones. These zones of mineralization make up the Ruddock Creek Sulphide Horizon which extends over a length of approximately five kilometres. To date, only minimal surface drilling has been conducted on zones other than the "E" and Creek zones.
The E zone, located at the eastern end of the Ruddock Creek Sulphide Horizon, has been the focus of exploration since it was discovered in outcrop in 1960. This zone has now been defined by surface and underground drilling for approximately one kilometre down plunge from where it outcrops at surface. Past exploration at Ruddock Creek included a 994 metre decline and a 180 metre incline cross-cut to provide access for underground diamond drilling of the Lower E zone.
The objective of the current exploration program at Ruddock Creek is to extend the lower E zone to the west in a previously undrilled area with a view to increasing the resource defined to date and advance the project toward mine development. The program will include 400 metres of underground development and 11,000 metres of underground diamond drilling together with additional surface exploration, geological mapping, sampling and further diamond drilling of the Creek zone and other selected zones within the Ruddock Creek Sulphide Horizon The existing workings have been dewatered and development work has started. Underground development and drilling will continue through the winter into 2011.
Mitsui Mining and Smelting Co. Ltd. and Itochu Corporation ("Mitsui and Itochu") have an option to earn a 50% interest in the Ruddock Creek Property. They have made a commitment to spend at least $14 million within two years to earn a 35% working interest with the right to spend a further $6 million in the third year to earn an additional 15% working interest at which point the property will be held by Imperial 50%, Mitsui 30% and Itochu 20%. Imperial will continue to operate the project through its wholly owned subsidiary Selkirk Metals Corp.
Imperial looks forward to working with Mitsui and Itochu to develop a mine at Ruddock Creek.
Jim Miller-Tait, P.Geo., the designated Qualified Person as defined by National Instrument 43-101 for the exploration program at Ruddock Creek, has reviewed this news release. Samples for the drilling reported at Ruddock Creek were analyzed at Acme Analytical Laboratories Ltd. in Vancouver BC. A full QA/QC program using blanks, standards and duplicates was maintained for all samples submitted to the labs.
Source: Imperial Metals Corporation