Imperial hits high grades at Mount Polley (May 21, 2004)

Vancouver – Several recent holes drilled by Imperial Metals (III-T) have returned high-grade mineralization from the company’s wholly owned Mount Polley copper-gold project in central British Columbia.

The best hole drilled on the Springer zone intersected 273.2 metres grading 0.72% copper, 0.36 gram gold and 1.32 grams silver per tonne, including 73.8 metres of 1.62% copper, 0.62 gram gold and 2.64 grams silver in hole 04-11, from 282.5 metres to 555.7 metres.

The ongoing, deep-drill program at the Springer zone is testing extensive mineralization below the established resource. Hydrothermal breccia, a primary host of Mount Polley mineralization, continues to be encountered at depths beyond 1,000 metres.

Increased silver-to-gold ratios in the lower portion of hole 04-11 are similar to those at the Northeast zone, where higher grades have also been encountered, indicating a possible change in style of mineralization.

Other results from the recent Springer zone drilling include:

• Hole 04-07 – 21.5 metres grading 0.43% copper and 0.48 gram gold, and 46.3 metres of grading 0.43% copper and 0.48 gram gold;
• Hole 04-08 – 174.2 metres of 0.32% copper and 0.30 gram gold, and 165 metres of 0.32% copper and 0.35 gram gold;
• Hole 04-09 – 284.5 metres grading 0.33% copper and 0.25 gram gold.

Drilling at the Northeast zone continues to deliver significant intersections of high-grade copper-gold-silver mineralization. Hole 04-59 intersected 149.3 metres assayed at 1.37% copper, 0.58 gram gold per tonne and 11.15 grams silver, including 17.5 metres of 4.93% copper, 3.81 grams gold and 42 grams silver.

Other results from the Northeast zone include:

• Hole 04-53 – 134.3 metres grading 1.7% copper, 0.56 gram gold and 10.62 grams silver, including 32 metres of 2.99% copper, 0.44 gram gold and 17.58 grams silver;
• Hole 04-56 – 110.4 metres of 1.11% copper, 0.33 gram gold and 8.17 grams silver;
• Hole 04-60 – 105.2 metres of 1.03% copper, 0.34 gram gold and 8.49 grams silver, including 21.6 metres of 2.7% copper, 1.19 grams gold and 27.1 grams silver;
• Hole 04-65 – 107.5 metres of 0.76% copper, 0.36 gram gold and 4.27 grams silver.

An updated reserve/resource estimate for the Northeast, Bell and Springer zones is being prepared.