ZINC-LEAD PROJECT: Imperial options Ruddock Creek to Japanese

BRITISH COLUMBIA - Vancouver-based Imperial Metals has optioned a 50% working interest in its Ruddock Creek zi...

BRITISH COLUMBIA - Vancouver-based Imperial Metals has optioned a 50% working interest in its Ruddock Creek zinc-lead project to Itochu Corp. and Mitsui Mining and Smelting, both Japanese-owned. Itochu and Mitsui have agreed to spend $20 million on exploration over the next three years.

Imperial acquired the project, located 100 km northwest of Revelstoke, during its 2009 merger with Selkirk Metals. Between 2004 and 2009, Selkirk explored the Ruddock Creek claims with a total of 25,688 metres of surface and underground drilling. Using a cutoff grade of 4% Zn+Pb, the Ruddock Creek property hosts a 43-101-compliant indicated resource of 2.3 million tonnes grading 7.8% Zn and 1.6% Pb, plus an inferred resource of 1.5 million tonnes at 6.5% Zn and 1.3% Pb.

Exploration in 2010 is expected to include dewatering and extension of the underground development to the west providing access for diamond drilling designed to extend the E zone further down dip. In addition, surface exploration including diamond drilling will test other zones within the Ruddock Creek sulphide horizon which is continuous over a length of approximately five kilometres in an east-west direction.

Contact Patrick McAndless, Imperial's VP exploration, at 604-488-2665 for more information.

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