iMetal Resources Inc. Reports Strong Drilling Results at Gowganda West
iMetal Resources Inc. (TSXV: IMR, OTCQB: IMRFF, FSE: A7VA), a Canadian mining company focused on natural resources mining services, announced a significant set of drilling results from its Gowganda West Gold Project, located southwest of Timmins, Ontario. The company’s latest program has further expanded the gold system, revealing broad intervals of gold mineralization that reinforce the structural integrity of the corridor and support future exploration planning.
Key Findings
| Interval | Gold Grade (g/t) | Length (m) |
|---|---|---|
| 1.239 g/t | 16.65 | 289.35–306 |
| 0.610 g/t | 62.45 | 261–323.45 |
| 0.566 g/t | 80.00 | 154–234 |
| 0.424 g/t | 278.35 | 45.1–323.45 |
| 0.419 g/t | 65.75 | 276.7–342.45 |
| 1.116 g/t | 6.20 | 342.75–348.95 |
The drilling program, consisting of six holes, returned gold grades ranging from 0.419 to 1.239 g/t and demonstrated that high‑grade pockets are interspersed within extensive low‑grade mineralization. The results echo those of the 2023 discovery hole, which returned 48.5 m at 0.85 g/t Au, and confirm that the gold system is continuous and structurally controlled by the regional Ridout‑Tyrrell Deformation Zone and the nearby 826 Zone.
Geological Context
The host rocks at Gowganda West are a matrix‑supported greenish polymictic conglomerate, characterized by heterogenous clasts from centimetre to pluricentimetre size. Alteration patterns—hematite, potassic, sericitization, and silicification—correlate closely with gold distribution. Zones of intense alteration and higher pyrite content correspond to the higher‑grade intervals observed in the drill data. The presence of diabase dykes in all holes, though not mineralized, further highlights the tectonic setting of the deposit.
Management Commentary
Saf Dhillon, President and CEO of iMetal, emphasized that the new results “continue to expand the gold system at Gowganda West and demonstrate both broad mineralization and higher‑grade internal intervals.” He added that the proximity to the Juby Deposit and the emerging 826 Zone underscores the structural significance of the corridor. “We look forward to incorporating these results into our ongoing geological model and planning the next phase of drilling,” Dhillon said.
Market Context
With a market capitalization of approximately 4 million CAD, iMetal’s share price has been volatile, trading as low as 0.08 CAD in February 2026 and reaching a high of 0.33 CAD in September 2025. The company’s price‑earnings ratio is negative at –0.656, reflecting the high exploration cost base typical of junior mining firms. Despite these metrics, the company’s recent drilling successes may attract renewed interest from investors seeking opportunities in the Canadian mining sector.
Regulatory Update
In addition to the drilling announcement, iMetal Resources also reported that the Canadian Investment Regulatory Organization has resumed trade for the company. This development removes a prior trading restriction, potentially increasing liquidity and market participation.
Outlook
iMetal Resources plans to use the current findings to refine its geological model and design the next drilling program. The company aims to test deeper targets and further delineate the extent of the gold system. Success in these efforts could position Gowganda West as a substantial source of gold, aligning with iMetal’s broader objective of delivering value through natural resources mining services.
The information presented is based on the latest publicly available data and does not constitute investment advice. Investors should conduct their own due diligence before making any investment decisions.
