Imperial Metals’ Red Chris mine produces 65.4M lb copper in 2021, British Columbia

Imperial Metals Corp. [III-TSX; IPMLF-OTC] reported total 2021 metals production for the Red Chris mine, located 80 km south of the community of Dease Lake, in the Golden Triangle of northwestern British Columbia, was 65.4 million pounds copper and 60,200 ounces gold. The mine is 70%-owned by Newcrest Mining Limited [NCM-ASX] and 30% by Imperial.

Copper and gold production decreased 25.9% and 18.5%, respectively, compared with 88.3 million pounds copper and 73,800 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/day.

Red Chris production (100%) for the 2021 fourth quarter was 14.7 million pounds copper and 13,600 ounces gold compared with 17.2 million pounds copper and 15,200 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 with 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.%), reflecting the benefit of increased cleaner capacity.

Imperial’s 30-per-cent portion of Red Chris production for 2021 was 19.6 million pounds copper and 18,000 ounces gold.

Drilling continues to expand the East Ridge zone, which is outside of the current mineral resource estimate. 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 1.1 g/t gold from 1,046 metres, including 56 metres of 1.8% copper and 3.5 g/t gold from 1,336 metres).

Hole RC752, collared at the western edge of the Main Zone pit, intersected 400 metres grading 0.37% copper and 0.33 g/t gold. This hole continues to expand the Main zone mineralization to the west toward the Gully zone.

Brian Kynoch, president of Imperial Metals, said, “We are excited to see the continued expansion of the mineralization in the East Ridge zone to the east and at depth. We expect this newly discovered zone, which is in close proximity to the current underground development, to meaningfully increase the mineral resource and long-term value of Red Chris.”

Development of the Block Cave continued during the period with the exploration decline now progressed to 765 metres as of January 25, 2022. Key supporting infrastructure has been established, including underground heating, workshop, warehouse and change room, with engagement under way for the feasibility study key contracts.