Imperial Reports Production Update for 2024 First Quarter
Press Release
Vancouver | April 25, 2024 | Imperial Metals Corporation (“Imperial”) (TSX:III) reports quarterly copper and gold production from Mount Polley and Red Chris mines. Imperial’s production was 12.353 million pounds copper and 12,861 ounces gold, with 7.355 million pounds copper and 10,009 ounces gold coming from Mount Polley and 4.998 million pounds copper and 2,852 ounces gold from its 30% share of Red Chris mine production.
Mount Polley metal production (100%) for the first quarter of 2024 was 7.355 million pounds copper and 10,009 ounces gold, compared to 6.678 million pounds copper and 9,980 ounces gold produced during the first quarter of 2023.
| Mount Polley Mine Production | Three Months Ended March 31 | |
| 2024 | 2023 | |
| Ore milled – tonnes | 1,671,505 | 1,389,636 |
| Ore milled per calendar day – tonnes | 18,368 | 15,440 |
| Grade % – copper | 0.251 | 0.269 |
| Grade g/t – gold | 0.282 | 0.313 |
| Recovery % – copper | 79.4 | 81.1 |
| Recovery % – gold | 66.0 | 71.5 |
| Copper – million pounds | 7.355 | 6.678 |
| Gold – ounces | 10,009 | 9,980 |
Mill throughput was up 20.3%, with 1.671 million tonnes being treated compared with 1.390 million tonnes treated in the first quarter of 2023. Copper production in the first quarter 2024 was up by 10.1% as a result of the increase in throughput which offset lower grade and recovery compared to first quarter 2023.
Tailings removal from the Springer pit is 84% complete and is expected to be completely removed by early May. Stripping for the Phase 5 pushback of the Springer pit has begun and approximately 1.7 million tonnes of waste from this pushback was mined by the end of March 2024.
Red Chris metal production (100%) for the first quarter of 2024 was 16.660 million pounds copper and 9,507 ounces gold, compared to 11.590 million pounds copper and 10,496 ounces gold produced during the same quarter of 2023.
| Red Chris Mine Production (100%) | Three Months Ended March 31 | |
| 2024 | 2023 | |
| Ore milled -tonnes | 2,100,354 | 2,090,772 |
| Ore milled per calendar day – tonnes | 23,081 | 23,231 |
| Grade % – copper | 0.43 | 0.32 |
| Grade g/t – gold | 0.26 | 0.31 |
| Recovery % – copper | 83.4 | 77.4 |
| Recovery % – gold | 53.6 | 50.2 |
| Copper – million pounds | 16.660 | 11.590 |
| Gold – ounces | 9,507 | 10,496 |
imperialmetals.com
The 2024 first quarter Red Chris copper production was up 44% compared to the 1st quarter in 2023 and down 9% for gold compared to the 1st quarter of 2023. The increase in copper production was a result of a 33% increase in copper grade (0.431% vs 0.325%) and an 8% increase in recovery (83.4% VS. 77.4%). The drop in gold production in the first quarter was the result of lower gold grade 0.263 g/t gold versus 0.311 g/t gold being treated quarter compared to the same quarter last year.
Brian Kynoch, P.Eng., Imperial’s President has reviewed the disclosures contained in this news release and is the designated Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).
About Imperial
Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.
Company Contacts
Brian Kynoch | President | 604.669.8959
Darb S. Dhillon | Chief Financial Officer | 604.488.2658
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