Imperial Reports 2017 Production and 2018 Production Targets
January 11 2018 - 4:52PM
Imperial Metals Corporation (the “Company”)
(TSX:III) reports its 2017 metals production from all operations
totaled 93.7 million pounds copper and 81,425 thousand ounces gold.
Red Chris Mine
In 2017, the Red Chris mill achieved 95% of
design capacity averaging 28,433 tonnes per calendar day.
Fourth quarter production totaled 23.23 million
pounds copper and 13,020 ounces gold, compared to 19.65 million
pounds copper and 8,426 ounces gold in the 2017 third quarter, an
increase of 18% and 55% respectively. Copper and gold grades
were higher in the fourth quarter and averaged 0.52% copper and
0.324 g/t gold, with the higher grades delivered to the mill from
the lower benches in the Main zone pit. Metal recoveries also
increased to 81.03% for copper and 49.99% for gold. The average
copper recovery for the fourth quarter sets a new record high for
Red Chris, and the gold recovery is a record high for a quarter
during which only Main Zone ores were treated.
The quarterly production chart highlights
the significant rise in gold production between the 2017 first and
fourth quarters from 5,811 to 13,020 ounces. This is the result of
the gold grade increasing from 0.201 g/t to 0.324 g/t, and gold
recovery increasing from 37.43% to 49.99%. Copper production during
the year increased approximately 42% from the first quarter to year
end as a result of better grade and recovery.
[For chart see ImperialMetals.com]
|
|
|
|
|
3 Months Ended December 31 |
|
Year Ended December 31 |
|
2017 |
2016 |
|
2017 |
2016 |
Ore milled -
tonnes |
2,498,900 |
2,291,150 |
|
10,378,181 |
9,651,738 |
Ore milled per calendar
day - tonnes |
27,162 |
24,904 |
|
28,433 |
26,371 |
Grade % -
copper |
0.520 |
0.382 |
|
0.413 |
0.507 |
Grade g/t -
gold |
0.324 |
0.193 |
|
0.233 |
0.309 |
Recovery % -
copper |
81.03 |
75.96 |
|
79.01 |
77.52 |
Recovery % -
gold |
49.99 |
32.83 |
|
43.00 |
49.04 |
Copper – 000’s
pounds |
23,234 |
14,659 |
|
74,636 |
83,614 |
Gold – ounces |
13,020 |
4,661 |
|
33,416 |
47,088 |
Silver –
ounces |
43,884 |
25,918 |
|
133,157 |
190,624 |
The 2018 production target for Red Chris is
72-77 million pounds copper and 31-33 thousand ounces gold.
Mount Polley Mine
Fourth quarter production totaled 4.02 million
pounds copper and 10,252 ounces gold, a slight increase compared to
3.98 million pounds copper and 9,989 ounces gold in the 2017 third
quarter. Ore release from the Cariboo pit was slower than planned
at the beginning of the year as the forest fires in the Cariboo
region affected mining operations this summer. The reduction
in mill feed available from the Cariboo pit resulted in a higher
percentage of mill feed coming from stockpiles in the fourth
quarter.
|
|
|
|
|
3 Months Ended December 31 |
|
Year Ended December 31 |
|
2017 |
2016 |
|
2017 |
2016 |
Ore milled -
tonnes |
1,806,399 |
1,632,355 |
|
6,723,188 |
6,684,824 |
Ore milled per calendar
day - tonnes |
19,635 |
17,743 |
|
18,420 |
18,265 |
Grade % -
copper |
0.178 |
0.208 |
|
0.199 |
0.247 |
Grade g/t -
gold |
0.283 |
0.326 |
|
0.322 |
0.310 |
Recovery % -
copper |
56.77 |
66.60 |
|
64.53 |
69.66 |
Recovery % -
gold |
62.47 |
66.00 |
|
68.93 |
69.78 |
Copper – 000’s
pounds |
4,023 |
4,977 |
|
19,071 |
25,339 |
Gold – ounces |
10,252 |
11,291 |
|
48,009 |
46,444 |
Silver –
ounces |
7,888 |
11,237 |
|
36,626 |
90,125 |
|
|
|
|
|
|
Approximately 5 million tonnes of mill tailings
were stored in the Springer pit following the resumption of
operations in 2015. To remove the tailings from the Springer pit
and gain access to the ore beneath, a dredge is being mobilized to
pump the tailings from the pit to the repaired and buttressed
tailings facility. We expect this to be complete by early
2019.
Mining in the Cariboo pit will be completed in
mid-2018. The mine then will rely on stockpiled ore to
provide mill feed for the balance of the year. This will result in
a temporary reduction in mine operations staff in 2018 and
2019.
The 2018 production target for Mount Polley is
17-19 million pounds copper and 44-47 thousand ounces gold.
About Imperial
Imperial is a Vancouver exploration, mine
development and operating company. The Company, through its
subsidiaries, owns the Red Chris, Mount Polley and Huckleberry
copper mines in British Columbia. Imperial also holds a 50%
interest in the Ruddock Creek lead/zinc property.
Company Contacts
Brian Kynoch | President |
604.669.8959 Andre Deepwell | Chief Financial
Officer | 604.488.2666 Gordon Keevil
| Vice President Corporate Development
| 604.488.2677 Sabine Goetz |
Shareholder Communications | 604.488.2657
| investor@imperialmetals.com
Forward-Looking Information and Risks
Notice
Forward-looking statements relate to future
events or future performance and reflect Company management's
expectations or beliefs regarding future events and include, but
are not limited to, 2018 production targets for the Red Chris and
Mount Polley mines; the expected completion of the dredging of
Mount Polley’s Springer pit by early 2019; expectations that mining
in Mount Polley’s Cariboo pit will be completed in mid-2018 after
which stockpiled ore will provide mill feed for the balance of the
year; anticipated temporary reductions in mine operations staff in
2018 and 2019. In certain cases, forward-looking statements can be
identified by the use of words such as “plans”, “expects” or “does
not expect”, “is expected”, “outlook”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases
or statements that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved” or the negative of these terms or comparable terminology.
In this document certain forward-looking statements are identified
by words including “guidance”, “expectations”, “targeted”, “plan”,
“planned”, “estimated”, “calls for” and “expected”.
Forward-looking information is not based on historical facts,
but rather on then current expectations, beliefs, assumptions,
estimates and forecasts about the business and the industry and
markets in which Imperial operates, including assumptions regarding
Red Chris mine and Mount Polley mine operations being conducted in
accordance with our current plans, and assumptions regarding
receipts of any required approvals. Such statements are qualified
in their entirety by the inherent risks and uncertainties
surrounding future expectations. We can give no assurance that the
forward-looking information will prove to be accurate.
By their very nature forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others,
operational risks and hazards, including unanticipated
environmental, industrial and geological events and developments
and the inability to insure against all risks; risks of failure of
plant, equipment, processes, transportation and other
infrastructure to operate as anticipated; and other risks of the
mining industry as well as those factors detailed from time to time
in the Company's interim and annual financial statements and
management's discussion and analysis of those statements, all of
which are filed and available for review on sedar.com. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
Imperial Metals (TSX:III)
Historical Stock Chart
From Mar 2024 to Apr 2024
Imperial Metals (TSX:III)
Historical Stock Chart
From Apr 2023 to Apr 2024