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Imperial Metals Provides Update on Red Chris 2020 Production and Exploration Programs
VANCOUVER, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports that the total 2020 metals producti
About this update from Imperial Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports that the total 2020 metals production for the Red Chris mine was 88.3 million pounds copper and 73,787 ounces gold. Copper and gold production increased 22.9% and 102.9% respectfully, compared to 71.9 million pounds copper and 36,471 ounces gold produced in 2019. The increased 2020 metal production was driven mainly by higher grades, with the copper grade up 28% and the gold grade up 84% from 2019 levels. Gold recovery increased substantially from 44.5% in 2019 to 54.2% in 2020. Mill throughput for the year decreased about 11% with the rate averaging 25,634 tonnes per day. Red Chris production (100%) for the 2020 fourth quarter was 17.2 million pounds copper and 16,251 ounces gold compared to 22.2 million pounds copper and 18,052 ounces gold in the 2020 third quarter. The reduction was largely a result of lower throughput rates, with 2.185 million tonnes milled in the fourth quarter compared to 2.777 million tonnes in the prior third quarter. Mill throughput in the period was impacted by continued unseasonal rain followed by cold weather causing material handling issues. These impacts were partially offset by higher gold grade and improved gold recovery (55.5% versus 50.8%). Red Chris is planning to implement several additional improvement initiatives across the site including a new fleet management system, replacement of the conventional CAT 793 truck boxes with high performance trays to realize payload benefits, along with a number of throughput and recovery related projects in the processing plant including installation of an additional cleaner column cell in the plant. Imperial’s 30% portion of Red Chris production for 2020 was 26.5 million pounds copper and 22,136 ounces gold. Metal production guidance (100%) provided by Newcrest for the period July 1, 2020 to June 30, 2021 is in the range of 55.1 to 66.1 million pounds copper and 45 to 55 thousand ounces gold. Exploration Update In the 2020 fourth quarter there were up to eight diamond drill rigs in operation. A further 18,063 metres of drilling were completed from 15 drill holes. All drill holes intersected mineralization, except four which were dedicated geotechnical holes. Since August 2019, a total of 104,435 metres have been drilled from 88 dri...