VANCOUVER, British Columbia, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports its 2017 metals production from all operations totaled 93.7 million pounds copper and 81,425 thousand ounces gold.
Red Chris Mine
In 2017, the Red Chris mill achieved 95% of design capacity averaging 28,433 tonnes per calendar day.
Fourth quarter production totaled 23.23 million pounds copper and 13,020 ounces gold, compared to 19.65 million pounds copper and 8,426 ounces gold in the 2017 third quarter, an increase of 18% and 55% respectively. Copper and gold grades were higher in the fourth quarter and averaged 0.52% copper and 0.324 g/t gold, with the higher grades delivered to the mill from the lower benches in the Main zone pit. Metal recoveries also increased to 81.03% for copper and 49.99% for gold. The average copper recovery for the fourth quarter sets a new record high for Red Chris, and the gold recovery is a record high for a quarter during which only Main Zone ores were treated.
The quarterly production chart highlights the significant rise in gold production between the 2017 first and fourth quarters from 5,811 to 13,020 ounces. This is the result of the gold grade increasing from 0.201 g/t to 0.324 g/t, and gold recovery increasing from 37.43% to 49.99%. Copper production during the year increased approximately 42% from the first quarter to year end as a result of better grade and recovery.
[For chart see ImperialMetals.com]
| 3 Months Ended December 31 | Year Ended December 31 | |||
| 2017 | 2016 | 2017 | 2016 | |
| Ore milled - tonnes | 2,498,900 | 2,291,150 | 10,378,181 | 9,651,738 |
| Ore milled per calendar day - tonnes | 27,162 | 24,904 | 28,433 | 26,371 |
| Grade % - copper | 0.520 | 0.382 | 0.413 | 0.507 |
| Grade g/t - gold | 0.324 | 0.193 | 0.233 | 0.309 |
| Recovery % - copper | 81.03 | 75.96 | 79.01 | 77.52 |
| Recovery % - gold | 49.99 | 32.83 | 43.00 | 49.04 |
| Copper – 000’s pounds | 23,234 | 14,659 | 74,636 | 83,614 |
| Gold – ounces | 13,020 | 4,661 | 33,416 | 47,088 |
| Silver – ounces | 43,884 | 25,918 | 133,157 | 190,624 |
The 2018 production target for Red Chris is 72-77 million pounds copper and 31-33 thousand ounces gold.
Mount Polley Mine
Fourth quarter production totaled 4.02 million pounds copper and 10,252 ounces gold, a slight increase compared to 3.98 million pounds copper and 9,989 ounces gold in the 2017 third quarter. Ore release from the Cariboo pit was slower than planned at the beginning of the year as the forest fires in the Cariboo region affected mining operations this summer. The reduction in mill feed available from the Cariboo pit resulted in a higher percentage of mill feed coming from stockpiles in the fourth quarter.
| 3 Months Ended December 31 | Year Ended December 31 | |||
| 2017 | 2016 | 2017 | 2016 | |
| Ore milled - tonnes | 1,806,399 | 1,632,355 | 6,723,188 | 6,684,824 |
| Ore milled per calendar day - tonnes | 19,635 | 17,743 | 18,420 | 18,265 |
| Grade % - copper | 0.178 | 0.208 | 0.199 | 0.247 |
| Grade g/t - gold | 0.283 | 0.326 | 0.322 | 0.310 |
| Recovery % - copper | 56.77 | 66.60 | 64.53 | 69.66 |
| Recovery % - gold | 62.47 | 66.00 | 68.93 | 69.78 |
| Copper – 000’s pounds | 4,023 | 4,977 | 19,071 | 25,339 |
| Gold – ounces | 10,252 | 11,291 | 48,009 | 46,444 |
| Silver – ounces | 7,888 | 11,237 | 36,626 | 90,125 |
Approximately 5 million tonnes of mill tailings were stored in the Springer pit following the resumption of operations in 2015. To remove the tailings from the Springer pit and gain access to the ore beneath, a dredge is being mobilized to pump the tailings from the pit to the repaired and buttressed tailings facility. We expect this to be complete by early 2019.
Mining in the Cariboo pit will be completed in mid-2018. The mine then will rely on stockpiled ore to provide mill feed for the balance of the year. This will result in a temporary reduction in mine operations staff in 2018 and 2019.
The 2018 production target for Mount Polley is 17-19 million pounds copper and 44-47 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.
