Imperial Reports Red Chris Production for 2019 Third Quarter
October 23 2019 - 6:52PM
Imperial Metals Corporation (the “Company”)
(TSX:III) reports production at the Red Chris mine for the 2019
third quarter was 19.5 million pounds copper and 8,419 ounces gold.
These results represent 100% of production at Red Chris. Copper and
gold production were up 11% in the third quarter compared to the
second quarter of 2019. Mill throughput for the quarter averaged
30,568 tonnes per calendar day.
As previously announced, Imperial completed the
sale of a 70% interest in the Red Chris mine to Newcrest Mining
Limited on August 15, 2019. Imperial’s portion of the third quarter
production was 13.1 million pounds copper and 5,634 ounces gold
representing 100% of production for the period July 1 through
August 14, 2019, and 30% of production for the period August 15
through September 30, 2019.
Exploration drilling commenced during the third
quarter with four drills currently operational. It is expected that
two more drill rigs will begin drilling during the fourth quarter.
Drilling will test the upside of the East Zone, Main Zone and Gully
Zone and a number of regional targets. At the East Zone, a deep
in-fill resource definition drilling program is underway to provide
additional geological, metallurgical and geotechnical data to
support studies for future underground operations. A new step out
exploration drilling program is underway searching for additional
zones of high grade mineralization within the main mineralized
trend. Drilling is also being conducted in the Gully Zone to
follow up previous high grade intercepts.
About Imperial
Imperial is a Vancouver exploration, mine
development and operating company. The Company, through its
subsidiaries, owns a 30% interest in the Red Chris mine, and a 100%
interest in both the Mount Polley and Huckleberry copper mines in
British Columbia. Imperial also holds a 48% interest in the Ruddock
Creek lead/zinc property.
Company Contacts
Brian Kynoch | President |
604.669.8959Andre Deepwell | Chief Financial
Officer | 604.488.2666Sabine Goetz
| Shareholder Communications |
604.488.2657 | investor@imperialmetals.com
Cautionary Note Regarding
Forward-Looking Statements
Certain information contained in this news
release are not statements of historical fact and are
“forward-looking” statements. 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, statements regarding the Company’s
expectations with respect to current drilling programs. In making
the forward-looking statements in this release, the Company has
applied certain factors and assumptions that are based on
information currently available to the Company as well as the
Company’s current beliefs and assumptions. These factors and
assumptions and beliefs and assumptions include, the risk 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 at www.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, many of which are beyond the Company’s ability to control
or predict. 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 and all forward-looking statements in
this news release are qualified by these cautionary statements.
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