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Imperial Metals Corp (2)
Symbol III
Shares Issued 120,782,585
Close 2019-01-23 C$ 1.74
Recent Sedar Documents

Imperial Metals produces 75.32 million lb Cu in 2018

2019-01-23 18:07 ET - News Release

Mr. Brian Kynoch reports

IMPERIAL REPORTS 2018 PRODUCTION AND 2019 PRODUCTION TARGETS

Imperial Metals Corp.'s 2018 metal production from all operations totalled 75.32 million pounds copper and 79,056 ounces gold. Red Chris fourth quarter metal production was 15.57 million pounds copper and 12,366 ounces gold, an increase of 15 per cent and 41 per cent, respectively, from the 13.55 million pounds copper and 8,741 ounces gold produced in the third quarter of 2018. Mill throughput averaged 29,759 tonnes per calendar day during fourth quarter 2018, and averaged 29,228 tonnes for the year ended Dec. 31, 2018. Metal recoveries were 76.21 per cent copper and 50.57 per cent gold, compared with 74.92 per cent copper and 45.65 per cent gold in the third quarter of 2018 and for the year averaged 75.60 per cent copper and 47.13 per cent gold.

Annual metal production for 2018 at Red Chris was 60.35 million pounds copper and 41,935 ounces gold, both 97 per cent of the revised production targets. Annual metal production at Red Chris for 2019 is targeted to be in the range of 72 million to 76 million pounds copper and 36,000 to 38,000 ounces gold.

Mount Polley metal production during fourth quarter 2018 was 3.18 million pounds copper and 7,983 ounces gold, an increase of 22 per cent and 3 per cent, respectively, from the 2.60 million pounds copper and 7,748 ounces gold produced in the third quarter of 2018. Mill throughput averaged 17,467 tonnes per calendar day during fourth quarter 2018, and averaged 16,975 for the year ended Dec. 31, 2018. Metal recoveries were 39.05 per cent copper and 59.71 per cent gold, compared with 38.39 per cent copper and 65.06 per cent gold in the third quarter 2018, and for the year averaged 52.89 per cent copper and 67.25 per cent gold.

Annual metal production for 2018 at Mount Polley was 14.97 million pounds copper and 37,120 ounces gold, respectively, 96 per cent and 94 per cent of the revised production targets.

Milling of low-grade stockpiles at Mount Polley is targeted to continue to the end of May, 2019, at which time the mine will be placed on care and maintenance until there is a sustained improvement in the price of copper. Mount Polley production through to suspension of operations at the end of May, 2019, is targeted to be in the range of four million to five million pounds copper and 13,000 to 14,000 ounces gold.

About Imperial Metals Corp.

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-per-cent interest in the Ruddock Creek lead/zinc property.

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