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Imperial Metals Provides Update on Red Chris 2021 Production and Exploration Programs
VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Imperial”) (TSX:III) reports that the total 2021 metals product
About this update from Imperial Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Imperial”) (TSX:III) reports that the total 2021 metals production for the Red Chris mine was 65.4 million pounds copper and 60.2 thousand ounces gold. Copper and gold production decreased 25.9% and 18.5% respectfully, compared to 88.3 million pounds copper and 73.8 thousand ounces gold produced in 2020. The decreased 2021 metal production was a result of lower grades, with the copper grade down 24% and the gold grade down 21% from 2020 levels. Copper recovery was down 2% year on year to 79% while gold recovery increased 3% to 56% in 2021. Mill throughput for the year decreased about 0.6% with the rate averaging 25,546 tonnes per day. Red Chris production (100%) for the 2021 fourth quarter was 14.7 million pounds copper and 13.6 thousand ounces gold compared to 17.2 million pounds copper and 15.2 thousand ounces gold in the 2021 third quarter, primarily due to lower mill throughput with 2,124,732 tonnes in the fourth quarter of 2021 compared to 2,543,495 tonnes in the prior quarter. The throughput was impacted by processing clay rich ores early in the reporting period impacting primary crusher availability, as well as weather-related BC Hydro power outages. This was partially offset by higher gold recoveries (59.7% versus 55.6%), reflecting the benefit of increased cleaner capacity. Imperial’s 30% portion of Red Chris production for 2021 was 19.6 million pounds copper and 18.0 thousand ounces gold. Exploration Update Drilling continues to expand the East Ridge zone, which is outside of the current Mineral Resource estimate. Holes RC740, RC748 and RC752 are highlighted in this release. Hole RC740 is the deepest and one of the most easterly holes drilled to date in the East Ridge zone. Hole RC740 intercepted 156 metres of 0.71% copper and 0.73 g/t gold, including 86 metres grading 0.97% copper and 1.2 g/t gold. Hole RC748 returned 452 metres of 0.54% copper and 0.60 g/t gold from 1,192 metres including 106 metres of 1.0% copper and 1.2 g/t gold from 1,384 metres. The hole has extended the higher grade mineralization to depth a further 100 metres below hole RC727 (previously reported, that returned 346 metres grading 0.79% copper and 1.1g/t gold from 1,046 metres, including 56 metres of 1.8% copper and 3.5g/t gold from 1,336 metres). H...