Vancouver, British Columbia — February 26, 2026 — Leads & Copy — iMetal Resources Inc. has announced that drilling at its Gowganda West Gold Project, located southwest of Timmins, Ontario, has intersected 16.65 metres at 1.25 g/t gold within 62.25 metres at 0.61 g/t gold.
The company (TSXV: IMR, OTCQB: IMRFF, FSE: A7VA) reported that the drilling program in the West Zone revealed broad levels of gold mineralization in multiple holes. Two of the six holes completed during the program encountered long intervals of gold mineralization, which complements the spring 2023 discovery hole of 48.5m of 0.85 g/t Au starting at 316.5m.
iMetal Resources Inc. noted the following highlights:
IMGW-25-06 returned 0.424 g/t gold over 278.35 metres from 45.1 to 323.45 metres, including several sub-intervals:
1.019 g/t gold over 7.4 metres from 118.75 to 126.15 metres.
0.566 g/t over 80 metres from 154 to 234 metres.
0.610 g/t gold over 62.45 metres from 261 to 323.45 metres, including 1.239 g/t gold over 16.65 metres from 289.35 to 306 metres.
IMGW-25-01 returned 0.419 g/t gold over 65.75 metres from 276.7 to 342.45 metres, including:
0.868 g/t gold over 8 metres from 296.5 to 304 metres.
0.786 g/t gold over 5.8 metres from 315.95 to 321.75 metres.
IMGW-25-03 returned 1.116 g/t gold over 6.2 metres from 342.75 to 348.95 metres.
McFarlane Lake Mining Limited, which is contiguous to the northwest, has identified a parallel zone to its Juby Zone within the regional Ridout-Tyrrell Deformation Zone, known as the 826 Zone. According to the release, it appears to trend into the West Zone.
Saf Dhillon, President & CEO of iMetal, said the results continue to expand the gold system at Gowganda West and demonstrate both broad mineralization and higher-grade internal intervals. He added that the scale of the mineralized envelope, combined with its proximity to the Juby Deposit and the emerging 826 Zone, reinforces the structural significance of this corridor.
The drilling intersected the targeted host rocks that exhibited alteration patterns and mineralization similar to that which was intersected in the 2023 drill program. The dominant rock type intersected is a matrix supported greenish polymictic conglomerate composed of heterogenous centimetric to pluricentimetric round clasts with different colors. A percentage of the red clasts are magnetic but the matrix is not. Zones of moderate to pervasive hematization /potassic alteration, sericitization and silicification were noted in the drill holes. Mineralization included disseminated and clast-replacement controlled pyrite, while a few holes also intersected local chalcopyrite vein fractures or plurimillimetric clusters. Alteration intensity appears to be a control on elevated gold values. Pyrite content also shows a relationship with elevated gold values and intensity of alteration.
Drilling also intersected multiple dykes in all holes. Diabase ranged in width from 1.45 to 45.05 metres in width and did not return any elevated gold values, though elevated gold values were noted at the lower contacts in several holes. Fine-grained intermediate dykes range in width from 1 to 20.8 metres and carry gold values in some instances but not others.
The Gowganda West property hosts a large package of gold prospective Timiskaming metasediments, approximately 7 km in strike and up to 5 km in width, that hosts all the gold mineralization thus far discovered on the property. Successive drill programs advancing to the southwest continued to intersect increasing alteration and gold values in suspected NW trending zones and lead directly to the IMGW23-04 discovery hole. The 48.5m gold interval is characterized by a coarse-grained to boulder-sized conglomerate, with moderate to pervasive silica alteration associated with a large intermediate-mafic dyke. Ther 2022 and 2023 drill programs appear to suggest a strong correlation between the intensity of the silica alteration and increased gold grades.
Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario; contiguous to McFarlane Lake Mining’s Juby Deposits Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; and also contiguous to the Knight project that is part of the Strategic Partnership between Orecap Invest Corp. and Agnico Eagle Mines Ltd. iMetal’s fall 2022 and spring 2023 drill program were successful in intersecting new gold trends in the SW section of the property. The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.
The technical content of the New Release has been reviewed and approved by R.Tim Henneberry, P.Geo. (BC), a director of the Company and a Qualified Person under National Instrument 43-101.
iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The flagship property Gowganda West, is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle’s Holt and Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.
Source: iMetal Resources Inc.
