- Imperial Mining Group (IPG) has received the final batch of assays from its winter drill program at Crater Lake
- In total, 14 drill holes for 2,084.8 metres have been completed at the Crater Lake zone
- The most recent announcement includes assay results from four holes that returned impressive high-grade mineralization
- Imperial Mining Group is a Canadian mineral exploration and development company
- Imperial Mining Group Ltd. (IPG) is up 3.7 per cent on the day, trading at $0.14 per share
Imperial Mining Group (IPG) has received the final batch of assays from its winter drill program on the Crater Lake TG scandium zone.
In total, 14 drill holes for 2,084.8 metres have been completed at the Crater Lake zone. All drill holes intersected the target mafic intrusive host rock, which showed a high degree of grade homogeneity.
Mineralization is open at depth below the 200-metre vertical level and along strike and appears as a thickening, conical-shaped body in cross-section.
Assay results from the first four drill results returned “impressive” intercepts, including:
- 8 metres grading 299 g/t scandium oxide, including 24.2 metres grading 331 g/t scandium oxide and 77.3 metres grading 313 g/t scandium oxide
- Elevated levels of total rare earth oxides plus yttrium of up to 0.46 per cent in the scandium-bearing intercepts.
Peter Cashin, Imperial Mining president and CEO, commented on the results.
“We are now in the process of delivering the project data to our consultants to commence 43-101 resource estimation work,” he said. “With the resource estimation in hand, likely in July, and completion of our metallurgical flowsheet, we will commence work on delivering a Preliminary Economic Assessment (PEA) for the project some time this fall, as originally scheduled.”
Imperial Mining Group is a Canadian mineral exploration and development company focused on advancing its technology metals projects in Quebec.
Imperial Mining Group Ltd. (IPG) is up 3.7 per cent on the day, trading at $0.14 per share as of 9:32 am ET.
