Discover, Develop, Operate

Overview

Ruddock Creek is a high grade zinc-lead project, that when developed, will be an underground mining operation. The property is located 155 km NE of Kamloops, British Columbia, encompassing 22,195 hectares and consisting of 43 mineral claims.

The project is operated by way of a Joint Venture with Imperial, Mitsui Mining and Smelting Co. Ltd.,Itochu Corporation, and Japan Oil, Gas and Metals National Corporation (JOGMEC). Imperial operates the project through its wholly owned subsidiary Ruddock Creek Mining Corporation. The 2019 drill program was funded by JOGMEC.Imperial will hold 45.3% interest in the Ruddock Creek lead/zinc property upon completion of 2019 exploration expenditures.

2019 Exploration

The 2019 diamond drill program focused on expanding the Q and V zones located on the western-most edge of the five kilometre long deposit, and followed up on results from RD-18-V41 which intercepted 21.7 metres grading 16.99% zine and 3.44% lead, and 2.41 g/t silver in 2018 (ref: NR Sept 19/18; Mar 29/19). The program consisted of 17 drill holes totaling 8,802.1 metres targeting the V Zone (11 drill holes; 6,955.5 metres) and the Q Zone (6 drill holes; 1,846.6 metres).Drilling was conducted from a combination of helicopter support and road accessible drill pads.

Highlights include drill hole RD-19-V54 which intersected 40.9 metres (true thickness 36.8 metres) grading 16.83% zinc, 3.46% lead and 4.74 g/t silver, including 20.1 metres grading 18.93% zinc, 4.15% lead and 6.11 g/t silver. Drill hole RD-19-V54 was drilled targeting the deep V Zone (where 2018 drill hole RD-18-V41 intersected 21.7 metres (true thickness 21.5 metres) grading 16.99% zinc, 3.44% lead and 2.41 g/t silver, including 10.4 metres grading 25.70% zinc, 5.41% lead and 3.44 g/t silver).

Drill hole RD-19-V54 intersected mineralization 52.0 metres above 2018 drill hole RD-18-V41 and confirmed the presence of wide, high grade mineralization first intersected in RD-V18-41. Drill hole RD-19-V52 intersected mineralization approximately 100 metres west and 100 metres below drill hole RD-19-V54. Drill holes RD-19-V46 and RD-19-V49 were targeting the eastern extent of the V Zone and intersected the mineralization at approximately 400 metres below surface and 100 metres along strike at the same elevation.

Select significant intersections:

V Zone
Drill Holes
Total
Length (m)
Interval
from (m)
Interval
to (m)
Interval
Length (m)
Estimated
True Thickness* (m)
Zinc (%) Lead (%) Silver (g/t)
RD-19-V44 683.4 276.5 340.7 64.2 22.5 2.16 0.36 0.95
includes 276.5 284.8 8.3 2.9 4.00 0.70 2.66
includes 317.6 340.7 23.1 8.1 3.11 0.57 0.58
and 423.3 432.8 9.5 3.3 7.78 1.54 3.57
and 476.1 488.5 12.4 4.3 10.56 2.06 2.74
and 497.4 502.6 5.2 1.8 7.42 1.60 1.50
RD-19-V45 602.0 306.8 315.9 8.5 8.1 6.02 0.86 2.34
includes 312.6 315.9 3.3 3.1 12.92 1.90 4.70
RD-19-V46 648.3 451.1 458.5 7.5 6.4 4.89 0.60 1.17
and 514.6 533.6 19.0 16.2 4.03 0.49 2.93
includes 527.0 530.2 3.2 2.7 6.83 0.44 7.06
and 577.0 587.6 10.6 9.0 6.96 1.10 1.40
RD-19-V47 600.2 331.3 332.1 0.8 0.8 8.71 2.73 2.00
RD-19-V48 535.5 433.6 437.3 3.7 3.7 4.51 0.79 4.11
RD-19-V49 678.8 543.0 552.9 9.9 8.9 10.44 2.16 1.74
and 565.3 569.0 3.7 3.3 2.36 0.23 0.00
RD-19-V51 700.1 597.7 599.3 1.6 1.4 2.33 0.73 0.37
RD-19-V52 861.4 732.8 747.0 14.2 12.8 5.45 0.82 1.39
RD-19-V54 864.4 760.0 800.9 40.9 36.8 16.83 3.46 4.74
includes 780.0 800.1 20.1 18.1 18.93 4.15 6.11
includes 760.0 775.0 15.0 13.5 19.05 3.66 4.23
Q Zone
Drill Holes
Total
Length (m)
Interval
from (m)
Interval
to (m)
Interval
Length (m)
Estimated
True Thickness* (m)
Zinc (%) Lead (%) Silver (g/t)
RD-19-Q11 239.9 202.7 210.3 7.6 6.8 4.82 1.05 1.40
includes 208.1 210.3 2.2 2.0 14.94 3.56 4.82
RD-19-Q12 281.2 243.2 255.2 12.0 10.8 6.85 0.91 1.42
RD-19-Q16 316.1 247.5 248.9 1.4 1.3 6.51 1.03 2.00

*true thickness estimated using the east-west strike of the V and Q Zones, along with a 70° dip to the north in the V Zone and a 26° dip to the north in the Q Zone.

The V Zone is located near the western edge of the Ruddock Creek massive sulphide horizons, which have an indicated strike length of about five kilometres, and is approximately two kilometres west of the Creek Zone, the nearest zone of detailed drilling. Little or no exploration drilling has been conducted along the intervening section of the horizon. The V Zone strikes east-west and dips at about 70° to the north.The zone has been traced with surface showings and by drilling for a horizontal distance of approximately 720 metres, and with this recent drilling to a depth of approximately 600 metres.

The V Zone drilling was designed to expand and increase the confidence in the resource in the deep portions of the zone. The V Zone has a steeper dip than all the other known zones at Ruddock Creek. The steeper dip should facilitate lower mining costs than the shallower dipping zones, and thus a larger resource of steeply dipping mineralization in the V Zone would improve the economics of the project. The wide high grade intercept in RD-V19-54 will add to the resource, along with the other V Zone mineralized intercepts obtained this year. However, the results are tempered by the results from drill holes like RD-V18-42 and RD-19-V47 where barren pegmatite replaced the sulphide mineralization in the V Zone.Drill hole RD-19-V50 was lost before target depth and drill hole RD-19-V53 was successful in intersecting the pyrrhotite marker horizon for geological modeling.

The Q Zone is locatedto the west of the V Zone, across a fault. The Q Zone has undergone limited exploration drilling, but it has been traced on surface, and strikes approximately east-west and dips at 26° to the north. The mineralized sheet has now been explored along a length of 600 metres and approximately 300 metres down dip by surface mapping, surface sampling, wide spaced historic drilling and 2019 diamond drilling. Drill holes RD-19-Q11 and RD-19-Q12 intersected the mineralized sheet 125 metres apart down dip.

SJ Geophysics completed Borehole EM surveys using their Volterra system down holes RD-19-Q16, RD-18-V41, V42 and V43 (2018 surveyed), RD-19-V52 and V54. A comprehensive review will be completed using the geophysical and geological information from the last two years of field work to recommend future exploration at Ruddock Creek.

Jim Miller-Tait, P.Geo., VP Exploration, is the designated Qualified Person as defined by National Instrument 43-101 for the exploration program, and has reviewed this news release.Ruddock Creek samples for the 2019 drilling reported were analysed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs.

For additional information, refer to the Company’s New Releases, Quarter Reports & Annual Information Form.


Update Nov | 2019
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