Imperial Reports on First Quarter Production Results
April 25 2018 - 6:18PM
Imperial Metals Corporation (the “Company”)
(TSX:III) reports that metal production from the Red Chris and
Mount Polley mines for the 2018 first quarter was 25.1 million
pounds copper and 24,495 ounces gold.
Red Chris first quarter metal production was
19.72 million pounds copper and 12,215 ounces gold, an increase of
21% and 110% respectively from the 16.33 million pounds copper and
5,811 ounces gold produced in the March 2017 quarter. The mill
achieved average throughput of 28,783 tonnes per calendar day for
the March 2018 quarter. First quarter metal recoveries were
77.22% copper and 47.37% gold, a decrease of 3% in copper recovery
and increase of 27% in gold recovery from the comparable 2017
quarter.
The Red Chris copper and gold grades will be
lower for the 2018 second and third quarters as bottom benches of
the phase 3 pushback in the Main zone pit were completed in the
2018 first quarter. The mill feed for the second and third quarters
will come from the upper benches of the phase 4 pushback.
Mount Polley metal production was 5.37
million pounds copper and 12,280 ounces gold, a slight decrease
from the 5.46 million pounds copper and 13,811 ounces gold produced
in the comparable 2017 quarter. The mill achieved average
throughput of 17,917 tonnes per calendar day, and metal recoveries
were 75.67% copper and 73.75% gold during the 2018 first quarter,
an increase of 6% and 3% respectively for the comparable 2017
quarter.
The Company is targeting 2018 production to be
within the range of 89-96 million pounds copper and 75,000-80,000
ounces gold as reported in the January 11 news release.
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, specific statements regarding expectations that
metal grades will be lower in the second half of 2018 for the Red
Chris mine. 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.
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, risks related to
changes in project parameters as plans continue to be refined;
future prices of mineral resources; possible variations in ore
reserves, grade or recovery rates; accidents; dependence on key
personnel; labour pool constraints; labour disputes; availability
of infrastructure required for the development of mining projects;
delays in obtaining governmental approvals or financing; that
additional required financing may not be available to the Company
on terms acceptable to the Company or at all; counterparty risks
associated with sales of our metals; changes in general economic
conditions; increased operating and capital costs; 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.
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