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Imperial Metals: Red Chris Mineral Resource Estimate Announced by Newcrest
VANCOUVER, British Columbia, March 30, 2021 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports that Newcrest Mining Limited (ASX,
About this update from Imperial Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, March 30, 2021 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports that Newcrest Mining Limited (ASX, TSX, PNGX: NCM) has released a Mineral Resource estimate for the Red Chris mine. Red Chris is operated by Newcrest under a Joint Venture Agreement with Imperial. Since becoming operator in August 2019, Newcrest has embarked on an extensive work program to define the potential of block cave mining beneath the existing open pit operation. Activities have included: additional exploration and resource definition drilling; resource optimization for both open pit and underground mining scenarios; commencing a Pre-Feasibility Study (PFS) to support the potential development of an underground block cave; commencing construction of the box cut (portal) for the exploration decline. This Mineral Resource estimate is a key input into the Red Chris PFS which Newcrest expects to release by the end of September 2021. The initial Newcrest Ore Reserve estimate for Red Chris is also expected to be released within the same time frame. MINERAL RESOURCE ESTIMATE This Mineral Resource estimate for Red Chris assumes bulk open pit mining and bulk block cave underground mining. For further disclosure, refer to Newcrest’s news release dated March 31, 2021 at newcrest.com. The initial Mineral Resource estimate for Red Chris published by Newcrest is reported as a Measured and Indicated Mineral Resource and an Inferred Mineral Resource in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 (JORC Code). Refer to Appendix 1 as provided on imperialmetals.com for information relating to data collection and resource estimation. There are no material differences between the definitions of Mineral Resources under the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves and the equivalent definitions in the JORC Code. JORC and CIM Comparison Mineral Resources and Ore Reserves are classified using the JORC Code. The confidence categories assigned under the JORC Code were reconciled to the confidence categories in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards – for Mineral Resources and Mineral Reserves May 2014 (the CIM Definition Standards). As the confidence categor...