IMC International Mining Corp. Announces Analytical Geochemical Program Update
May 6, 2020
Soil Samples return Copper Anomalies in the Cathedral Area
Vancouver, BC – May 6, 2020 – IMC International Mining Corp. (CSE:IMCX) (OTC:IMIMF) (FRA:3MX) (the “ Company ” or “ IMC ”), is pleased to announce the receipt of a geochemical sampling and data verification report from CME Consultants Inc. (“ CME ”) on its Thane Property (the “ Property ”). This study was requested by IMC to determine the quality of the results from samples previously collected by Thane Minerals Inc. (“ TMI ”) on the Property.
The object of the study was to undertake multi-element and gold analysis on rock samples collected by TMI that were not previously analyzed by an accredited geochemical laboratory, and to confirm the results of analytical work undertaken on previous work programs. The study involved the submission of 452 rock sample pulps, originally collected throughout the Property, and 223 contour soil samples, originally collected from the Cathedral Area, but not previously analyzed. Samples were submitted to ALS Minerals of North Vancouver (“ ALS ”) for multi-element (ICP-MS) and gold analysis (fire assay).
The ALS assay results from both the rock and soil samples returned similar values to those returned from analysis by a portable X-Ray Fluorescence instrument (“ pXRF ”) originally used by TMI. Samples were originally analyzed by pXRF as a time and cost saving measure, to reduce the quantity of samples submitted to the laboratory for geochemical analysis. In previous years only samples returning greater than 1,000 ppm Cu by pXRF analysis were originally submitted by TMI to a laboratory for further analysis. Although the pXRF instrument is an efficient tool in determining copper values, the instrument is unable to obtain reliable gold values.
To verify the rock samples collected in 2012 that were submitted to an accredited geochemical laboratory, but did not include adequate quality control protocols, approximately 5% of those original samples (16 rock sample pulps) were submitted to ALS for check analysis. As a result of the ALS check analysis returning acceptable statistical results, the Company now considers all of the results reported by ActLabs in 2012 acceptable for public disclosure. Rock sampling undertaken by TMI on the Property in 2013, 2016, 2017, and 2019 included adequate quality control measures and the Company considers the results acceptable for public disclosure. IMC will be compiling the results from the 452 rock sample pulps from this recent analytical geochemical program, along with all prior years assay results from rock samples and will be releasing them in due course.
The results from the submission of contour soil samples returned four broad in-line copper anomalies (Areas A-D), with three anomalies located on the south-facing slope of the Cathedral Area, coincident with arsenic anomalies. Sample spacing was set at 25 metres, but actual distance deviated approximately +/- 5m. The 360 metre long Area A anomaly, with a high copper value of 972 ppm Cu, is located along the possible strike extension of the gold-bearing structural features of the Pinnacle Showing. The 200 metre long Area C anomaly, with a high copper value of 628 ppm Cu, is located approximately 530 metres to the south-southwest of the 400 metre long Area B anomaly, with a high copper value of 941 ppm Cu. The 240 metre long Area D anomaly, with a high copper value of 1,455 ppm Cu, is located approximately 250 metres directly above the Area B anomaly. Background copper value from the 223 collected soil samples is 141 ppm Cu. For gold results, a total of nine soil samples returned greater than 0.1 ppm Au, including three spot gold highs (0.439, 1.045 and 5.0 ppm Au) located outside of the Area A-D copper anomalies.
In 2019, TMI completed 8.4 km’s of Induced Polarization (“ IP ”) geophysical surveying at the Cathedral Area. One of the survey lines straddles the soil contour line that returned the Area A and Area B copper anomalies. The Company recently received the IP report from that exploration program and is currently combining results with the recently obtained soil samples results. IMC will provide the results from the IP program shortly.
“We are extremely encouraged with the outcome of this analytical geochemical program initiated by the Company”, stated Brian Thurston, Chief Executive Officer and President of IMC. “These quality-control, quality-assurance results, supported by ALS assaying, is validation that TMI has conducted past exploration in a professional manner. The result of minimal soil samples returning four broad in-line copper anomalies is very encouraging. We look forward to compiling the rock samples from the property and making all results public once completed”. The scientific and technical information disclosed in this news release was reviewed, verified and approved by Christopher O. Naas, P. Geo., of CME who is a “Qualified Person” as defined in NI 43-101. Mr. Naas is a shareholder of the Company and owner of CME.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and President
ABOUT INTERNATIONAL MINING CORP.
IMC is a junior exploration and development company. It is focused on creating shareholder value through the advancements of its assets which include the Cathedral Property in Northern British Columbia and the Bullard Pass Property in Arizona. The Company continues to look for further assets in North & South America as it increases its asset portfolio. IMC will utilize its heavily experienced management team to evaluate assets that provide shareholder value.
IMC continues to evaluate additional properties to add to its portfolio of mining assets.
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Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the completion of the Offering; the anticipated closing of the Offering; expected use of proceeds; anticipated structure of the Offering; the Agents’ Option; the exercise of the Unit Agents’ Option; and the Company’s business and plans, including with respect to undertaking further acquisition and carrying out exploration activities in respect of its mineral projects. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, risks related to the Offering completing; the ability of the Company to obtain necessary approvals; complete definitive documentation and complete the Offering on the terms announced; the future tax treatment of the Flow-Through Shares; completion of documentation and receipt of funds related to the exercise of the Unit Agents’ Option; 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 or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
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