Imperial Mining Group Ltd. ("Imperial") (
TSX VENTURE: IPG;
OTCQB: IMPNF) is pleased to announce that it has received
results of a positive Preliminary Economic Assessment (PEA) for the
Crater Lake TG Zone Scandium-Rare Earth Element (Sc-REE) deposit
from Imperial’s independent consultants, WSP Canada (“WSP”). The
results show positive cash-flow, strong Internal Rate of Return
(IRR) and Net Present Value (NPV) metrics at discount rates of up
to 15% for a potential mining operation at the Crater Lake, Quebec
(Table 1). The Crater Lake property is in northeastern Québec,
approximately 200 km east northeast of Schefferville, Québec
(Figure 1).
Table 1 – Pre- and After-Tax Net
Present Value (NPV) – Crater Lake, TG-Zone Deposit
Discount Rate |
Pre-Tax Net Present Value (NPV) Million CA$ |
After-Tax Net Present Value (NPV) Million CA$ |
@
5% @
7% @
10% @
11% @
12% @ 15% |
$5,265$4,145$2,971$2,675$2,413$1,794 |
$3,150$2,455$1,721$1,535$1,370$977 |
Internal Rate of Return (IRR) |
42.9% |
32.8% |
Payback from Production Startup |
2.5 years |
3.0 years |
The salient metrics related to the PEA study of
the TG North Lobe and the projected mining and processing costs to
produce Sc2O3, ScAl Master alloy and REE hydroxide concentrate are
outlined in Table 2.
Table 2 – Project Metrics, Crater Lake
TG North Lobe Deposit
Project Metric |
Units |
Value |
Pre-tax NPV @ 10% |
$M |
2,971 |
After-tax NPV @ 10% |
$M |
1,721 |
Pre-tax IRR |
% (real) |
42.9 |
After-tax IRR |
% (real) |
32.8 |
Pre-tax Payback Period from start of production |
Years |
2.5 |
Initial Direct Capital Expenditure (“CAPEX”) |
$M |
602.9 |
Initial Indirect Capital Costs |
$M |
108.8 |
Initial Project Contingency (25%) |
$M |
159.2 |
Total Initial CAPEX (Direct + Indirect + Contingency) |
$M |
870.9 |
Maximum Open-Pit Production Rate |
tpa |
423,118 |
Maximum Concentrate Production Rate |
tpa |
217,059 |
Mine Life (minimum) |
Years |
25 |
Ramp-up to Full Production |
Years |
2 |
Total Revenues |
$M |
15,200 |
Average Annual Net Revenues |
$M |
608 |
Total Operating Costs |
$M |
3,727 |
Pre-tax Operating Cash Flow |
$M |
10,309 |
After-tax Operating Cash Flow |
$M |
6,259 |
Operating Margin |
% |
63.8 |
Life-of-Mine Operating Cost Estimates |
Units |
Value |
Open-Pit Mine, Mill and Transportation Operating Costs |
$/t mill feed |
233 |
Hydrometallurgical Facility - Sc2O3 |
$/t mill feed |
12 |
Master Alloy Facility - ScAl |
$/t mill feed |
108 |
Selling, General & Administration (G&A) Costs |
$/t mill feed |
8 |
Royalties (single payment buyout) |
$/t mill feed |
0.20 |
Sustaining Capital Costs + Restoration |
$/t mill feed |
20 |
Total Operating Costs |
$/t mill feed |
381 |
Table 3 – Commodity Price Assumptions
Used in the Financial Model
Metal Oxides / Alloy |
US$/kg |
Note |
Scandium Oxide (Sc2O3) |
$ |
1,500.00 |
USGS 5-year trailing average discounted by 61% 1 |
Al-2% Sc Master Alloy |
$ |
204.00 |
USGS 5-year trailing average discounted by 40% 1 |
Dysprosium Oxide (Dy2O3) 2 |
$ |
128.40 |
March 2022, Spot Prices, discounted by 70% |
Lanthanum Oxide (La2O3) 2 |
$ |
1.50 |
March 2022, Spot Prices, discounted by 70% |
Neodymium Oxide (Nd2O3) 2 |
$ |
49.20 |
March 2022, Spot Prices, discounted by 70% |
Praseodymium Oxide (Pr2O3) 2 |
$ |
49.20 |
March 2022, Spot Prices, discounted by 70% |
Terbium Oxide (Tb4O7) 2 |
$ |
584.40 |
March 2022, Spot Prices, discounted by 70% |
Table 3 NOTES:
1 – Source: United States Geological Survey (USGS) 2021 Mineral
Commodity Summary – Scandium and Scandium-Aluminum Master alloy.2 -
Only magnet REEs in the mixed REE product have accrued value, with
prices discounted by 70% as project assumes REE sales as a mixed
bulk hydroxide product.
“The WSP study results confirm that the TG-Zone
deposit has robust economics with the potential to be a long-term
provider of critical Scandium and magnet Rare Earths to world
markets,” stated Peter J. Cashin, President and Chief Executive
Officer of Imperial. “We believe that the financial-model estimates
used in the PEA are conservative, as they apply discounted and
historical average metal pricing. Project economics improve
substantially if current spot REE and ScAl Master alloy values are
used. With rapidly accelerating onshoring of Critical Minerals and
Advanced Material supply chains we believe that this could position
Imperial advantageously to capture higher prices and thereby grow
revenues. Our upcoming summer exploration drilling of the Crater
Lake project is intended to convert the Inferred Mineral Resources
from the TG North Lobe deposit reported in September 2021 to
Indicated and, potentially, Measured Mineral Resources. Work on the
TG Southern Lobe, where drilling in 2019 returned 113.9 m
grading 310 g/t
Sc2O3,
is also planned with the prospect of linking the North and South
Lobes of the deposit.”
WSP Canada General Project
Description
The WSP study utilizes an open-pit mining
operation model and a scandium price deemed conservative, below the
2021 USGS trailing five-year average price. Accepted consensus is
that REE prices have increased significantly since September 2021
and have been discounted by 70% for the purposes of this study as
REE will be delivered to a processor on a tolling basis for the
magnet rare earths only. The commodity prices for this study and
the assumptions used for the financial model are listed in Table 3.
For this study, the total tonnes of concentrate produced of
Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb)
were considered marketable and contribute to revenues in the
financial model as an offset to Scandium (Sc) operating
expenses.
WSP applied a conventional Truck and Shovel
open-pit mining operation model to the TG North Lobe Deposit at a
production rate of 2,350 tonnes per day during a six-month per year
operation period (Table 2, Figure 2), using the $110.80 Net Smelter
Return (NSR) cut-off presented in the Mineral Resource Estimate
previously reported by Imperial (Imperial Press Release, September
23, 2021).
The mine operation infrastructure, storage and
tailings facilities would be developed at Crater Lake. The open-pit
mine, crushing, milling, kilning and magnetic concentration plants
would be built on-site, with mineral concentrate transported during
winter months to a storage in Emeril, NL by road to the twelve
months operational metallurgical and alloys plants to be located in
Sept-Iles, Quebec by rail (Figure 3). Existing road infrastructure
will be accessed from the Crater Lake mine area via winter road for
the initial years of production as a means to reduce project CAPEX.
Imperial has future plans to establish a permanent road that would
be financed from operating revenues.
Imperial expects to receive a copy of the final
43-101 PEA report from WSP within 45 days from the date of this
press release. The final PEA report, which is being prepared
according to National Instrument 43-101 Guidelines, will be filed
on SEDAR and available under Imperial’s company profile at
SEDAR.com (Imperial Mining Group Ltd SEDAR Profile).
Project Optimization
Opportunities
These PEA results have demonstrated the economic
viability of the project and the project’s capability in achieving
high Sc and REE recoveries. However, there are still several
process improvement opportunities and infrastructure development
options that will benefit the project.
Future project optimization programs and
trade-off studies that are expected to yield further reduction in
CAPEX and/or OPEX include:
- Completion of
the ongoing SGS hydrometallurgical program. The objective of this
work is to improve the scandium recovery, lower mine operating
costs and reduce carbon footprint of Imperial’s metallurgical
process.
- Further
investigation of sensor ore sorting as a pre-concentration step in
mineral processing to reduce ore milling cost.
- Development of
the Al-2%Sc Master Alloy technology.
- Economic
trade-off study focused on mineral concentrate transportation from
the mine site to the processing plant at Sept Iles evaluating
simplification of the design of concentrate storage, loading and
unloading using silos.
- Converting
winter road access to the property from the existing road
infrastructure to a permanent road to be financed from the
operation revenues.
- Source
electrical power from renewable sources at the Mine site (wind,
solar, in-river hydro power) to reduce energy costs and carbon
emissions.
Crater Lake TG North Lobe Scandium-Rare
Earth Resource Model
The PEA study was based on a Mineral Resource
Estimate undertaken for Imperial by InnovExplo of Val d’Or, Quebec
(see Imperial Mining Press Release - SEP 23, 2021, Table 4, Figure
4).
The resources estimation was undertaken using
the diamond drillhole data completed over the Northern Lobe of the
TG Scandium-Rare-Earth mineralized Zone. Mineralization is related
to an iron-rich syenitic intrusive (Ferrosyenite) sill and dyke
system and was drilled over a strike length of 300 m, to a vertical
depth of 200 m. Intersection lengths through the zone varied
between 10.7 m and 111.9 m, representing a true thickness of up to
100 m. There was an observed general increase in resource grade and
true thickness to mineralization at depth below the pit-shell and
towards the north. The definition drilling was completed over the
northern half (Northern Lobe) of the magnetic target that defines
the TG Zone. Drilling on a single section (100N) on the south half
of the TG target (Southern Lobe) returned 113.9 m grading
310 g/t
Sc2O3
at a vertical depth of 90 m and is open to
resource expansion in all directions (see Imperial Mining Press
Release: June 18, 2019). In addition, numerous Scandium-Rare-Earth
resource opportunities remain to be drill-defined on the property
and will be evaluated in future exploration programs.
Table 4 – Crater Lake TG North Lobe
Mineral Resource Estimate
Category |
Cut-off NSR ($/t) |
Tonnage (Mt) |
NSR total ($/t) |
Sc2O3
(g/t) |
Dy2O3
(g/t) |
La2O3
(g/t) |
Nd2O3
(g/t) |
Pr2O3
(g/t) |
Tb4O7
(g/t) |
Indicated |
110.8 |
7.3 |
413 |
282 |
66 |
606 |
596 |
160 |
12 |
Inferred |
110.8 |
13.2 |
386 |
264 |
62 |
569 |
573 |
154 |
11 |
Mineral Resource Estimate
Notes:
1. The independent and qualified persons for the
mineral resource estimate, as defined by NI 43 101, are Marina
Iund, P.Geo. (Resource Geologist, InnovExplo), Paul Daigle, P.Geo.
(Associate Resource Geologist, InnovExplo) and Carl Pelletier,
P.Geo. (Resource Geologist, InnovExplo). The effective date of the
estimate is September 17, 2021.
2. These mineral resources are not mineral
reserves, as they do not have demonstrated economic viability.
Mineral Resources are classified in accordance with the CIM (2014)
Standards and Definitions of Mineral Resources.
3. The results are presented in-situ and
undiluted and considered to have reasonable prospects of economic
viability.
4. The estimate encompasses three mineralized
zones using the grade of the adjacent material when assayed or a
value of zero when not assayed.
5. High-grade capping supported by statistical
analysis was done on raw assay data before compositing and
established for La2O3 (3690 g/t), Pr2O3 (1380 g/t), Nd2O3 (2100
g/t), Dy2O3 (215 g/t). No capping was applied to Sc2O3 and
Tb4O7.
6. The resource estimate was completed using
GEOVIA Surpac 2021 using a sub-block model at a parent block matrix
of 5m x 5m x 5m (minimum block size of 1.25m x 1.25m x1.25m). Grade
interpolation was obtained by inverse distance squared using hard
boundaries.
7. Bulk density values applied are 3.13 t/m3 and
2.91 t/m3 for the olivine ferrosyenite and pyroxene ferrosyenite,
respectively; the principal hosts for the mineral resources.
8. The mineral resource estimate is classified
as Indicated and Inferred. The Indicated mineral resource category
is defined with a minimum of three (3) drill holes within the areas
where the drill spacing is less than 60 m and shows reasonable
geological and grade continuity. The Inferred category is defined
with a minimum of two (2) drill holes within the areas where the
drill spacing is less than 120 m and shows reasonable geological
and grade continuity. Clipping boundaries were used for
classification based on those criteria.
9. The mineral resource estimate is
pit-constrained with a bedrock slope angle of 45° and an overburden
slope angle of 30°. It is reported at a Net Smelter Return (NSR)
cut-off of CA$110.80/t. The NSR cut-off was calculated using the
following parameters: processing cost = CA$14.89/t; transportation
cost (concentrate transportation from mine site to processing
plant): CA$17.01/t of ore milled; G&A = CA$7.19/t; refining and
selling costs = CA$ 88.71/t; Sc2O3 price = US$1,500.00/kg; La2O3
price = US$0.60/kg; Pr2O3 price = US$29.00/kg; Nd2O3 price =
US$29.00/kg; Tb4O7 price = US$386.00/kg; Dy2O3 price =
US$124.00/kg; USD:CAD exchange rate = 1.25; Scandium recovery to
high grade scandium oxide product = 76.0%; Rare earth elements
recovery to mixed REE carbonate = 63.0%. The cut-off grades should
be re-evaluated considering future prevailing market conditions
(metal prices, exchange rates, mining costs etc.).
10. The number of metric tonnes was rounded to
the nearest thousand, following the recommendations in NI 43-101
and any discrepancies in the totals are due to rounding
effects.
11. The authors are not aware of any known
environmental, permitting, legal, title-related, taxation,
socio-political, or marketing issues, or any other relevant issue
not reported in the Technical Report, that could materially affect
the Mineral Resource Estimate.
Financial and Sensitivity
Analysis
The expected project cash flows were modelled
using a simple discounted cashflow model, using discount rates of
5%, 7%, 10%, 11%, 12% and 15%. Imperial is using at 10% discount
rate as its base assumption. The project cashflow is scheduled
annually and uses an exchange rate of 1.25 CAD to USD.
A simple tax model was constructed using a
depletion model for depreciation estimates. No opening balance of
tax credits, rebates, tax-free holidays or eligible prior
expenditures were used in this analysis. Table 5 summarizes the
estimated total Life-of-Mine (LOM) model design criteria.
Sensitivity analysis of the model indicates that
the operation would be most sensitive to changes in metal pricing
and CAD:USD exchange rate and least sensitive to changes in
operating costs (Figure 5). An exchange rate of $1US = $1.25CAN was
used in the study. Details of the WSP PEA financial model have been
posted on Imperial’s website home page at www.imperialmgp.com.
Metallurgical Process
Development
Imperial has developed an innovative process for
extraction of scandium (Sc) and rare earth elements (REE) from its
Crater Lake scandium mineralization as part of its
Hydrometallurgical Development Program. Results from this work show
very high recovery of both scandium and rare earths for all
mineralization types defined in diamond drilling on the
property.
Table 5 – Crater Lake TG North Lobe
Sc-REE Deposit Financial Model Design Criteria (all amounts are in
CA$, unless otherwise stated)
CATEGORY |
VALUE |
UNITS |
MINING (includes a 5% dilution)Mineralization
MinedWaste MinedOverburdenTOTAL Mined (Strip Ratio =
2.01) |
10.618.92.431.8 |
MtMtMtMt |
PROCESSINGRun-of-Mine Feed (Life-Of-Mine -
LOM)Run-of-Mine Feed (per year) |
10.6426,000 |
Mtt |
MINED MINERAL GRADE (includes a 5%
dilution)Sc2O3Dy2O3La2O3Nd2O3Pr2O3Tb4O7 |
268.362.4583.0567.0152.811.1 |
g/tg/tg/tg/tg/tg/t |
MINERAL CONCENTRATES
PRODUCEDContaining: |
5.4 |
Mt |
Sc2O3 |
2,559,592 |
kg |
Dy2O3 |
429,172 |
kg |
La2O3 |
4,008,593 |
kg |
Nd2O3 |
3,898,455 |
kg |
Pr2O3 |
1,050,318 |
kg |
Tb4O7 |
76,499 |
kg |
PRODUCT SOLD (LOM) |
|
|
Sc2O3 (SOFC)*Aluminum + 2% Sc - Master Alloy |
11057,298 |
tt |
Dy2O3 |
377 |
t |
La2O3 |
3,521 |
t |
Nd2O3 |
3,425 |
t |
Pr2O3 |
923 |
t |
Tb4O7 |
67 |
t |
CATEGORY |
VALUE |
UNITS |
METAL OXIDES PRICES |
|
|
Sc2O3 |
1,875.00 |
$/kg |
Aluminum + 2% Sc - Master Alloy |
255.00 |
$/kg |
Dy2O3 |
160.50 |
$/kg |
La2O3 |
1.88 |
$/kg |
Nd2O3 |
61.50 |
$/kg |
Pr2O3Tb4O7 |
61.50730.50 |
$/kg$/kg |
GROSS METAL VALUES (LOM)Sc2O3 (SOFC)* |
205,896,000 |
CA$ |
Aluminum + 2% Sc - Master Alloy |
14,610,979,000 |
CA$ |
Dy2O3 + La2O3 + Nd2O3 + Pr2O3 + Tb4O7
Concentrate |
383,566,000 |
CA$ |
|
|
|
Total |
15,200,441,000 |
CA$ |
Table 5 NOTES: * - represents
Sc2O3 use in Solid Oxide Fuel Cells (SOFC).
The two-stage hydrometallurgical extraction
method entails a high-pressure caustic leach (HPC) followed by
hydrochloric acid leach of the HPC residue. The new method showed
remarkable recovery of scandium and the rare earth elements from
Imperial’s Crater Lake Sc-REE mineralization (see Imperial Mining
press release dated March 2, 2020, for details of the MET samples
herein mentioned):
- The method showed scandium
recovery to primary leach solution (PLS) of 84% for the
metallurgical sample.
- The recovery of total rare
earth element, including yttrium (TREE+Y) of 84% from the
metallurgical sample.
- The high recoveries of Sc and
TREE+Y from the sample show that the method has excellent efficacy
in extracting Sc and REE from samples representing the
mineralization observed in drilling.
- The NaOH and the hydrochloric acid
used in the leaching process are regenerated and recycled back to
the process. Caustic is regenerated using lime, while HCl is
recovered with the addition on sulphuric acid.
- The scandium oxide would be
converted into an Al-2%Sc master alloy product using
co-electrolysis of Al and Sc from alumina and scandia in a process
similar to the Hall–Heroult method used for the production of
primary aluminum metal.
IPG recently commissioned a hydrometallurgical
flowsheet development program based on its patent-pending two-stage
hydrometallurgical method for the extraction of scandium and rare
earth elements with SGS Canada. The program, which started on
January 31, 2022, is partially financed from a $245,355 grant from
the Quebec Ministry of Energy and Natural Resources (see Imperial
Mining Press Release - FEB 8, 2022). The optimization work by SGS
Canada is advancing and has shown success in improving the
metallurgical processing method than was previously announced by
Imperial for the scandium-rare earth mineralization. The results of
this program will be inputted into our final patent submission to
the US Patent Office by or before the end of 2022. The process
flowsheet is currently protected under US Patent and Trademark
Office provisional application #63/265,176.
Table 6 represents the Capital and Operating
costs for the envisaged mine and processing complex in the PEA
study.
Table 6 – Capital and Operating Costs
Assumed in the PEA Study (all amounts are in CA$, unless otherwise
stated)
CAPITAL COSTS |
(Million $) |
$/t of milled mineralization |
Direct Costs |
|
|
Mine
Equipment |
13.7 |
1.29 |
Mill
Plant Construction |
63.7 |
6.02 |
Hydrometallurgical Facility Construction |
160.1 |
15.13 |
Power
& Electrical Both CL and Sept-Iles Sites |
14.1 |
1.33 |
Crater
Lake and Sept-Iles Site Infrastructures |
113.5 |
10.73 |
TSF &
Water Management |
69.3 |
6.55 |
Initial
Winter Road + Orma Lake Road Rehabilitation |
46.6 |
4.40 |
Off Site
Concentrate Handling Infrastructure |
27.5 |
2.60 |
Camp (200
Person Capacity) |
26.5 |
2.50 |
Studies
and Preliminary Engineering |
0.0 |
0.00 |
Exploration and Geology Activities |
0.0 |
0.00 |
Pre-Production Mining Licences |
0.2 |
0.02 |
Pre-Production |
67.9 |
6.42 |
SubTotal Direct Costs |
602.9 |
57.00 |
Indirect Costs |
108.8 |
10.28 |
Contingency (25%) |
159.2 |
15.05 |
Total Capital Cost (All in + Tax) |
870.9 |
82.33 |
OPERATING COSTS |
(Million $) |
$/t of milled mineralization |
Mine
Crater Lake |
248.5 |
23.49 |
Mill
Crater Lake |
430.9 |
40.73 |
Power
Plant Crater Lake |
36.0 |
3.40 |
Surface
Mobile Equipment Crater Lake |
27.5 |
2.60 |
Water
Management Crater Lake |
192.4 |
18.19 |
Lodging
Crater Lake |
140.1 |
13.25 |
Transportation + Domes |
1,387.6 |
131.18 |
Hydromet
Facility Sc2O3 Sept-Iles |
58.5 |
5.53 |
Hydromet
Facility Al + 2% Sc Master Alloy,Sept-Iles |
1,139.8 |
107.75 |
Surface
Mobile Equipment Sept-Iles |
24.8 |
2.35 |
Water
Management Sept-Iles |
108.6 |
10.27 |
Capitalized Operating Costs |
-679.1 |
-6.42 |
Total Operating Cost |
3,726.8 |
352.32 |
OPERATING COSTS |
(S Millions) |
$/t of milled mineralization |
Selling
General & Administrative Costs |
83.6 |
7.90 |
Royalties |
2.0 |
0.20 |
Sustaining Capital Costs + Restoration |
207.7 |
19.63 |
Total Operating Cost ((Operating Costs + Sustaining Capital
+ Selling Costs + Royalties) |
4,020.1 |
380.05 |
PROJECT ECONOMICS |
|
|
Net Revenue |
15,200 |
M$ |
Operating Cost |
4,020 |
M$ |
Capital Costs |
871 |
M$ |
Total Pre-Tax Cash Flow |
10,309 |
M$ |
Taxes |
4,050 |
M$ |
Total After-Tax Cash Flow |
6,259 |
M$ |
Pre-Tax Net Present Value @ 10% Discount |
2,971 |
M$ |
Pre-Tax Internal Rate of Return |
42.9 |
% |
Pre-Tax Payback Period |
2.5 |
Year |
After-Tax Net Present Value @ 10% Discount |
1,721 |
M$ |
After-Tax Internal Rate of Return |
32.8 |
% |
After-Tax payback period |
3.0 |
Year |
Qualification Statement
The company has not made a production decision
for the Crater Lake TG North Lobe Project and there is no guarantee
that a production decision will be made or that the production
rates for the Project will be achieved. The are no Mineral Reserves
for the Crater Lake Project currently. The information reported in
the PEA for the project are of a preliminary nature and includes
Indicated and Inferred Mineral Resources. Inferred Mineral
Resources are considered too speculative geologically to have
economic considerations applied to them that would enable them to
be categorized as Mineral Reserves. Inferred Mineral Resources are
based on limited geological evidence and sampling. The tonnage and
grade of Inferred Mineral Resources have significant uncertainty as
to their existence and as to whether they can be mined
economically. There is no certainty that results for the PEA for
the Project will be finally realized
QUALIFIED PERSONS
WSP CANADA INC.
The technical and financial data for the PEA
study content was prepared and certified by WSP Canada Inc.
Qualified Persons: Zakaria Moctar. P. Eng., Mine Engineer for
mining, Mireno Dhe Paganon, P. Eng., Metallurgical Engineer for
milling, Eric Poirier, P. Eng., Engineer for infrastructure, Simon
Latulippe, P. Eng., Engineer for Infrastructure and Environment,
Ewald Pengel, P. Eng., Metallurgical Engineer for milling and Rick
McBride, P. Eng., Mine Engineering cashflow statistics. These
"Qualified Persons" within the meaning of NI 43-101 and considered
to be "independent" of Imperial Mining Group Ltd. for purposes of
NI 43-101, have reviewed and confirmed that the news release fairly
and accurately reflects the sections in the technical report for
which they are responsible.
IMPERIAL MINING GROUP LTD.
The technical content in this press release was
reviewed and certified by Dr. Yemi Oyediran, an Ontario-registered
P. Eng., Manager of Metallurgical Development and Pierre Guay,
P.Geo., Vice-President, Exploration.
STUDY EFFECTIVE DATE
The Study Effective Date is
June 6, 2022
ABOUT IMPERIAL MINING GROUP
LTD.
Imperial is a Canadian mineral exploration and
development company focused on the advancement of its technology
metals projects in Québec. Imperial is publicly listed on the TSX
Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and
is led by an experienced team of mineral exploration and
development professionals with a strong track record of mineral
deposit discovery in numerous metal commodities.
For further information please
contact:
Peter J. CashinPresident and
Chief Executive OfficerPhone: +1 (514)
360-0571Email: info@imperialmgp.com |
|
Website:
www.imperialmgp.com
Twitter:
@imperial_mining
Facebook: Imperial Mining Group
This press release may contain forward-looking
statements relating to the Company’s operations or to its business
environment. Such statements are based on the Company’s operations,
estimates, forecasts, and projections, but are not guarantees of
future performance and involve risks and uncertainties that are
difficult to predict or control. Several factors could cause actual
outcomes and results to differ materially from those expressed.
These factors include those set forth in the corporate filings.
Although any such forward-looking statements are based upon what
management believes to be reasonable assumptions, the Company
cannot guarantee that actual results will be consistent with these
forward-looking statements. In addition, the Company disclaims any
intention or obligation to update or revise any forward-looking
statements, for any reason. We also do not commit in any way to
guarantee that we will continue reporting on items or issues that
arise. Investors are cautioned that this press release
contains quoted historical exploration results. These are derived
from filed assessment reports and compiled from governmental
databases. The Company and a QP have not independently verified and
make no representations as to the accuracy of historical
exploration results: these results should not be relied upon.
Selected highlight results may not be indicative of average
grades.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Five figures accompanying this
announcement are available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/2d03028c-2f56-48ea-9129-d9ee1eaa332fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/80859c9e-7499-4046-95b9-2fde296928f9https://www.globenewswire.com/NewsRoom/AttachmentNg/e64d0e8e-5818-441e-9098-12b4c4faaefchttps://www.globenewswire.com/NewsRoom/AttachmentNg/62828eda-c372-465f-84e1-4209a748b594https://www.globenewswire.com/NewsRoom/AttachmentNg/34bc85be-3880-4c3d-970d-c57f064fdf65
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