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iMetal Resources announced the positive outcomes of its Annual General Meeting held on December 20, 2021. Shareholders overwhelmingly approved all proposals, including the re-election of directors and the reappointment of auditors. A significant decision was made to consolidate shares at a rate of five old shares for one new share, reducing the number of outstanding shares from approximately 51 million to around 10 million. The consolidation is subject to TSX Venture Exchange approval. CEO Saf Dhillon expressed gratitude to shareholders for their support.
iMetal Resources announced the completion of its 2021 excavator trenching program at the Gowganda West Gold Property in Ontario. The field review aims to correlate assay results with geological data and is part of preparations for a Q1 2022 drilling program. Highlights include trenching results of up to 10.85 g/t gold. The company has also settled an outstanding payable of $54,643.17 and will not move forward with its proposed acquisition from Riverside Resources. Additionally, the non-brokered private placement will not proceed further.
iMetal Resources has announced results from its 2021 trenching program at the Gowganda West property in Northern Ontario. The program excavated five trenches, achieving notable gold concentrations at Zone 1, including 3.29 g/t over 1.8m and 10.85 g/t over 0.35m. However, results from Zone 3 fell short of prior spring prospecting samples that reported up to 56 g/t. The technical team is consolidating trenching data and historical exploration to identify drill targets for future exploration.
iMetal Resources, Inc. (OTC PINK:ADTFF) announced that its common shares are now eligible for DTC electronic clearing and settlement in the U.S., effective immediately. This DTC eligibility is anticipated to enhance the liquidity and simplify the trading process for the Company's shares. iMetal, based in Canada, focuses on exploring its resource properties, including the Gowganda West Project in Ontario, which borders an advanced gold project in the Abitibi greenstone belt.
iMetal Resources, Inc. has appointed Joyce Liu as Chief Financial Officer and Corporate Secretary, effective immediately. She replaces Scott Davis and Frances Murphy, who both remain within the company. Liu, a Chartered Professional Accountant with over 9 years of experience, has previously worked with publicly traded companies in the resource sector. The corporate office has relocated to Vancouver. This leadership change is aimed at advancing the company's flagship Gowganda West Project, enhancing financial management and corporate governance.
iMetal Resources (OTC PINK:ADTFF) has initiated a trenching program at its Gowganda West property, focusing on Zones 1 and 3, in the Abitibi Greenstone Gold Belt. The two-week program aims to expose geological structures and evaluate potential drill targets. Notable grab sample values include:
- Zone 3: 67.9 g/t, 29.6 g/t, and 11.3 g/t gold
- Zone 1: 27.2 g/t and 16.35 g/t gold
CEO Saf Dhillon remarked on the significance of this program in defining drilling targets for summer. The area has shown promising geological characteristics for gold mineralization.
iMetal Resources has announced assay results from its Gowganda West property in Ontario, revealing promising gold values from its recent field program. Highlights include grab samples from Zone 3 showing gold concentrations of 67.9 g/t, 29.6 g/t, and 11.3 g/t. Zone 1 also yielded significant values, including 27.2 g/t and 16.35 g/t. CEO Saf Dhillon emphasized that these results confirm earlier findings and indicate potential for a significant mineralized system. The company plans to initiate trenching and drilling programs to further explore these promising areas.
iMetal Resources, Inc. (OTC PINK:ADTFF) has closed the initial tranche of its non-brokered private placement, issuing 7,700,000 Units at $0.10 each and 577,000 flow-through shares at $0.13, raising a total of $845,010. The proceeds will support exploration activities at the Gowganda West and Oakes Gold Projects in Ontario. All securities will be subject to a hold period until October 1, 2021, pending TSX Venture Exchange approval. Additionally, finder’s fees of $53,730 and 525,900 Warrants were paid to facilitate this placement.
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