Imperial Reports 2018 Production and 2019 Production Targets
Press Release
Vancouver | January 23, 2019 | Imperial Metals Corporation (the “Company”) (TSX:III) reports its 2018 metals production from all operations totaled 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% and 41% 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 the 2018 fourth quarter, and averaged 29,228 for the year ended December 31, 2018. Metal recoveries were 76.21% copper and 50.57% gold, compared to 74.92% copper and 45.65% gold in the third quarter of 2018 and for the year averaged 75.60% copper and 47.13% gold.
Annual metal production for 2018 at Red Chris was 60.35 million pounds copper and 41,935 ounces gold, both 97% of the revised production targets. Annual metal production at Red Chris for 2019 are targeted to be in the range of 72-76 million pounds copper and 36-38 thousand ounces gold.
Mount Polley metal production during the 2018 fourth quarter was 3.18 million pounds copper and 7,983 ounces gold, an increase of 22% and 3% 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 the 2018 fourth quarter, and averaged 16,975 for the year ended December 31, 2018. Metal recoveries were 39.05% copper and 59.71% gold, compared to 38.39% copper and 65.06% gold in the third quarter 2018, and for the year averaged 52.89% copper and 67.25% gold.
Annual metal production for 2018 at Mount Polley was 14.97 million pounds copper and 37,120 ounces gold, respectively 96% and 94% of the revised production targets.
Milling of low grade stockpiles at Mount Polley are 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 4-5 million pounds copper and 13-14 thousand ounces gold.
About Imperial
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% interest in the Ruddock Creek lead/zinc property.
Company Contacts
Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Sabine Goetz | Shareholder Communications | 604.488.2657 | investor@imperialmetals.com
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