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.