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Major Mining Interest in The Abitibi Greenstone Belt–The Next Frontier of Exploration

Gran Colombia Gold Corp. claim 45% stake in Caldas Gold Corp. after prefeasibility study. Could this be in the future for iMetal Resources ($IMR, TSX.V: IMR)?

We are excited for our neighbors because iMetal Resources Gowganda mining camp may very well be feeders to the mineralization we see in the region. ”
— Johan Grandin, Director, iMetal Resources Inc
TORONTO, ON, CANADA, November 27, 2020 /EINPresswire.com/ -- TORONTO, ON -November 25, 2020 – Caldas Gold Corp. ($CGC), located in the Abitibi Greenstone Belt, has gotten major interest from the mining community after its most recent prefeasability study. Gran Colombia Gold Corp. ($GCM) is taking a 45% stake in the junior mining company and with it introducing mining industry heavy hitters to the new management and board of directors such as:

Ian Telfer: renowned mining entrepreneur who created Goldcorp and built the company into one of the industry's largest gold majors before its sale to Newmont ($NGT) in April, 2019.
David Garofalo: former CEO of Goldcorp Inc. and president and CEO of Hudbay Minerals Inc. ($HUD). Previous to this, he held various senior positions including senior vice-president, finance, and chief financial officer of Agnico Eagle Ltd. ($AEM).
Peter Marrone: executive chairman and founder of Yamana Gold ($YRI).

The recent prefeasibility study outlined potential average annual gold production of approximately 165,000 ounces from 2024 through 2033 once the MDZ is in full production with average life-of-mine all-in sustaining costs of $872 (U.S.) per ounce. Recent exploration success from ongoing programs indicates exciting exploration potential with significant upside potential.

Investment Industry Regulatory Organization of Canada (IIROC) initiated a trading halt of the stock on November 20, 2020. Trading resumed on November 23, 2020.

“We are excited for our neighbours because iMetal Resources Gowganda mining camp may very well be feeders to the mineralization we see in the region. If Caldas Gold is continually extending their deposit, the natural progression would need to go through our property. We are excited for what the future will bring to the area.” said Johan Grandin, Director, iMetal Resources Inc. ($IMR).

iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604- 739-9713 or visit iMetal's website at www.imetalresources.ca.


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