IMA I Minerals Inc

I-Minerals Inc. (TSX VENTURE:IMA)(PINKSHEETS:IMAHF) (the "Company") announces
that further to the Company's press release of August 15, 2013, I-Minerals has
received initial results from the testing of the core from the first 17 holes
completed on Kelly's Hump. Sixteen of 17 holes intersected significant thickness
of primary clay with the 17th intersecting an inclusion of country rock, masking
the true thickness of the favorable lithology. Of the 16 holes that returned
significant intervals of primary clay, nine returned strong concentrations of
halloysite with thicknesses ranging from 5 to 30 feet with halloysite
concentrations (of the total rock mass) ranging from 11% to 19%. These data show
an average thickness of the halloysite-rich areas at approximately 19.7 feet
with the average concentration of halloysite being 13.7%.  


Kelly's Hump is a major prospective ridge immediately east of the Middle Ridge
area within I-Minerals' Helmer-Bovill property. A new mineral lease acquired in
June 2013 forms a key portion of Kelly's Hump. The majority of the halloysite
resources defined in the January 2013 Prefeasibility study were on the Middle
Ridge. 


In keeping with the mining parameters utilized in the January 2013
Prefeasibility study, initial metallurgical work to assess the halloysite
concentrations was only undertaken on the top 50 feet of the 17 holes. The Phase
1, wide-spaced drilling, has identified four readily accessible areas of strong
halloysite concentrations covering a cumulative area of approximately 77 acres
(31 hectares).  


As noted in the Company's August 15, 2013 press release, the January 2013
Prefeasibility study (after tax NPV6 $150 million; 28% IRR; 3 year payback; $67
million initial CAPEX; $84 million life of mine CAPEX including sustaining
capital), assumed that defined halloysite reserves were only sufficient to
support about 10 years of halloysite production. The success at Kelly's Hump in
identifying multiple areas containing wide areas of significant concentrations
of halloysite is expected to provide halloysite reserves for the entire +20 year
mine life when the Prefeasibility study is updated. The January 2013
Prefeasibility study assumed that once halloysite reserves were mined out and
halloysite production ceased, kaolin production would commensurately increase.
Given that halloysite will be a higher value product than kaolinite, having
halloysite reserves, in addition to the already defined potassium feldspar, high
pure quartz and kaolinite across the entire 20 year mine life is expected to
have a positive impact on the economic valuation as the project moves towards
feasibility. 


"The quick success at Kelly's Hump has been very encouraging," stated Thomas
Conway, President and CEO of I-Minerals. "Not only are we seeing strong
concentrations of halloysite - selectively up to three times higher than the
average in the Prefeasibility Study, but the halloysite appears to be noticeably
whiter than that encountered elsewhere on the property. Needless to say the
results exceed all expectations." 


Infill drilling in the Middle Ridge areas has been successfully completed.
Metallurgical separations and halloysite estimations are currently on going at
the University of Idaho. All of this infill drilling was focused on upgrading
known areas containing appreciable halloysite concentrations from a probable
reserve to a proven reserve. 


With the success of the Phase 1 drilling at Kelly's Hump drilling, the Phase 2
drill program is underway. Drill collar locations have been received from SRK
Consulting (USA) Inc. for 200-foot spacings. Additional infill drilling should
be sufficient that the completion of all holes as set out by SRK would result in
a measured resource which could ultimately be upgraded to a proven reserve once
a mine plan can be configured to reflect the updated results of the current
Prefeasibility study. Drill collar locations are being surveyed and a second
drill rig has been mobilized to the property in order to complete the drill
program in a timely fashion. 


A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals Inc. and has
reviewed and approved the contents of this release.


About I-Minerals 

I-Minerals is developing multiple deposits of high purity-high value halloysite,
quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill
property in western Idaho. A 2013 Prefeasibility Study completed by SRK
Consulting (USA) Inc. highlights the potential of the Helmer-Bovill property:
after tax NPV6 of $150 million; 28% IRR; 3 year payback and $67 million initial
CAPEX; $84 million CAPEX including life of mine sustaining capital. Ongoing
development work is focused on upgrading the probable reserve to a proven
reserve as the Company moves through the feasibility process towards production.


I-Minerals Inc. 

Thomas M. Conway, President & CEO

This News Release includes certain "forward looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995.
Without limitation, statements regarding potential mineralization and resources,
exploration results, and future plans and objectives of the Company are forward
looking statements that involve various risks. Actual results could differ
materially from those projected as a result of the following factors, among
others: changes in the world wide price of mineral market conditions, risks
inherent in mineral exploration, risk associated with development, construction
and mining operations, the uncertainty of future profitability and uncertainty
of access to additional capital. 


NEITHER THE 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 NEWS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
I-Minerals Inc.
Barry Girling
877-303-6573 or   604-303-6573
info@imineralsinc.com
www.imineralsinc.com

I Minerals (TSXV:IMA)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

I Minerals (TSXV:IMA)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024