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Imperial Mining Group Ltd. reported strong assay results from its Crater Lake drilling program, revealing substantial intercepts of scandium and rare earth minerals. Key findings include an impressive 111.9 m grading 298 g/t Sc2O3, contributing to the project's potential bulk concentrate value. The drilling program, completed on May 9, included 14 drillholes, confirming a significant scandium resource. A preliminary Resource Estimate is expected in June, indicating promising prospects for the TG scandium zone with increasing mineralization thickness and grade at greater depths.
Imperial Mining Group Ltd. (IMPNF) has signed a letter of intent with Eck Industries to develop scandium-modified aluminum alloys for the Transportation, Defence, and Aerospace sectors. The collaboration aims to commercialize alloys and enhance their properties for a range of applications. The project aligns with the Canada/US Joint Action Plan on Critical Minerals Collaboration and focuses on creating a North American supply chain for scandium. Historically scarce due to high prices and limited supply, scandium's potential to improve aluminum alloys makes this partnership significant.
Imperial Mining Group Ltd. announced the resignation of Donald S. Bubar as Chairman of the Board, effective immediately. Citing increased responsibilities at Avalon Advanced Material Inc., Bubar will remain as a technical and strategic advisor. Peter J. Cashin, the company's President and CEO, will serve as interim Chairman until a suitable candidate is found. The Board has initiated a selection committee to identify potential new members. This transition aims to maintain leadership continuity as Imperial advances its technology metals projects.
Imperial Mining Group has reported strong assay results from the first four drill holes at its Crater Lake project, revealing substantial scandium oxide grades. Key findings include 92.5 m grading 291 g/t Sc2O3, with notable intervals of 51.3 m at 344 g/t and 80.2 m at 287 g/t. The gold-equivalent value of these intersections ranges from 6.5 to 8.0 g/t Au, based on current market prices. The ongoing drilling program aims to provide sufficient data for a preliminary Resource Estimate by June, indicating potential growth and exploration success.
Imperial Mining Group Ltd. has finalized a transaction with SOQUEM, selling its 100% stake in the Carheil-Brouillan copper-zinc-silver property for $450,000. Imperial retains a 2% Net Smelter Royalty (NSR) on the property, with an option for SOQUEM to buy it for $2 million. In exchange, Imperial receives full ownership of the La Roncière gold property, previously a joint venture, which also comes with a 1.25% NSR that Imperial can acquire for $1.25 million. The transaction strengthens Imperial's position in the Quebec mining sector.
Imperial Mining Group Ltd. (TSX VENTURE: IPG; OTCQB: IMPNF) reports promising results from early drilling at the TG scandium zone at Crater Lake. The drilling confirmed significant thicknesses of scandium-bearing rock, with widths reaching up to 158 m. The zone spans a strike length of 600 m, extending to a depth of 200 m. A total of 17-22 diamond drillholes are planned in this definition program to outline a minimum Inferred Mineral Resource of 10 million tonnes. Results from the first four drillholes indicate a dip of 70° and widths between 55 and 110 m, with ongoing drilling expected to complete by early May.
Imperial Mining Group Ltd. (OTCQB: IMPNF) has received a $90,000 NSERC Alliance Grant for a three-year research program aimed at optimizing scandium-aluminum alloys for 3D metal printing applications. Partnering with McMaster University, the program seeks to enhance market penetration of these alloys in aerospace, defense, and automotive sectors. CEO Peter J. Cashin highlights the potential to improve product margins and attract strategic partners. This initiative aims to bolster Imperial's Crater Lake project and solidify its position as a sustainable scandium supplier.
MONTREAL, March 10, 2021 – Imperial Mining Group Ltd. (TSX VENTURE: IPG; OTCQB: IMPNF) announced a Letter of Intent with SOQUEM Inc. to vend its 100% interest in the Carheil-Brouillan copper-zinc-silver property for $450,000, while reacquiring the remaining interest in the La Roncière gold property. The LOI anticipates a formal agreement by April 12, 2021. Imperial retains a 2% Net Smelter Royalty on Carheil-Brouillan, which SOQUEM can acquire for $2 million. The transaction aligns with Imperial’s focus on its Crater Lake scandium and rare earth project.
Imperial Mining Group Ltd. (OTCQB: IMPNF) has begun trading on the OTCQB Venture Market. This milestone offers U.S. investors access to its financial disclosures and quotes. The company's president highlighted the importance of this step for enhancing U.S. investment opportunities. Imperial plans to initiate a $2.0 million exploration program for its Crater Lake scandium-rare earth project in Quebec. The company aims to leverage the growing recognition of scandium-modified aluminum alloys in various industries.