- Imperial Mining Group Ltd. (IPG) has announced its 2021 work program plans for its 100 per cent owned Crater Lake Scandium-Rare Earth Project in Québec
- Work activities will include definition diamond drilling on the TG Zone deposit area
- Total budget for this work is estimated at $2 million
- A definition diamond drill program on the TG Zone will commence in late February
- Imperial Mining Group Ltd. is down 2.44 per cent to C$0.20 per share
IPG has announced its 2021 work program plans for its 100 per cent owned Crater Lake Scandium-Rare Earth Project in northeastern Québec.
Work activities will include definition diamond drilling on the TG Zone deposit area, completion of the metallurgical process flowsheet for known mineralization, delivery of a 43-101 compliant Resource Estimate and completion of a 43-101 Preliminary Economic Assessment for the TG Zone Resource.
Total budget for this work is estimated at $2 million. In addition, Imperials’ scandium market development work will continue to identify new applications and consumers for scandium-modified aluminum alloys. These are now in growing demand within the transportation, aerospace, manufacturing, defense and alternative energy sectors.
Imperial’s President & Chief Executive Officer Peter Cashin said the company is well-funded to move forward with advancing its flagship Crater Lake Scandium Project exploration.
“Our exploration team has finalized the drilling plans for the TG Zone and anticipate mobilizing crews later this month. Imperial’s financial position is the strongest it has ever been with the recent closing of two successful private placements. We will be providing the investment community with regular updates as our plans progress throughout the winter, spring and summer.”
A definition diamond drill program on the TG Zone will commence in late February with 17 to 22 diamond drillholes currently planned totalling approximately 2,500 m.
A drill hole spacing pattern of 50-100 m will be completed with the objective of outlining a minimum Inferred Mineral Resource of at least 10 million tonnes. This size of resource should satisfy a minimum 20–25-year operation depending on the rate of demand growth. There is good potential to expand resources with further drilling on other similar scandium occurrences on the property.
The drilling is anticipated to be completed by the end of April. Once all the lab analyses are received and the drilling data is compiled it will be moved on to an independent engineering group to undertake and deliver an NI 43-101 compliant Resource Estimate for the TG Zone. The company said it expects results from this work to be delivered in May.
Imperial is making significant progress on the Phase 3 hydrometallurgical development program of its flagship Crater Lake Scandium Project. The program commenced with M.Plan International, based in Toronto, in the Q4 2020. The test work is currently being conducted by M.Plan’s partner, Dorfner ANZAPLAN GmbH, Hirschau, Germany. The budget for this work was estimated at $175,000 but has been fully capitalized.
Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals opportunities in Québec.
Imperial Mining Group Ltd. is down 2.44 per cent to C$0.20 per share.