Red Chris Production and Exploration Update

The Red Chris copper-gold mine in northwest British Columbia – now owned 70% by Newcrest Mining and 30% by Imperial Metals. Photo courtesy Imperial Metals Corp.

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Imperial Metals Corp. [IIITSX; IPMLF-OTC] reports Red Chris metal production for the second quarter of 2020 was 26.5 million lbs copper and 22,057 oz gold, up from 22.5 million lbs copper and 17,427 oz gold in Q1 2020. The Red Chris Mine is located in the Golden Triangle region of northwestern British Columbia.

Imperial’s 30% portion of Red Chris Mine second quarter production was 7.9 million lbs copper and 6,617 oz gold. Newcrest Red Chris Mining Limited is operator of the Red Chris Joint Venture (Newcrest 70%/Imperial 30%).

Red Chris – Exploration Update

The highlight in Q2 was hole RC625, the second hole drilled in the newly discovered high-grade pod. First intersected by RC616, this new high-grade pod is on the western edge of the East Zone. Hole RC625 returned a partial intercept of 400 metres grading 0.65 g/t gold and 0.51% copper, including a 60-metre interval of 2.2 g/t gold and 1.3% copper. This expanded the new high-grade zone as RC625 is located 100 metres southwest of RC616. Drilling to define and extend this new high-grade zone is ongoing.

RC623 intersected 532 metres grading 1.3 g/t gold and 0.82% copper, including 122 metres of 4.5 g/t gold and 2.3% copper. RC623 was drilled to expand and confirm continuity of the discrete high-grade East Zone pod in the vicinity of RC09-350.

Drill hole RC620, 100 metres below RC611, confirmed the extent of the +1 g/t gold halo surrounding the high-grade pod. Follow up infill drilling continues to define the extent of this high grade mineralization.

The easternmost hole drilled by Newcrest is RC621 on the eastern edge of known mineralization about 400 metres east of RC09-350. Hole RC621 intercepted 414 metres of 0.39 g/t gold and 0.32% copper, including 84 metres of 0.73 g/t gold and 0.45% copper.  Hole RC621 is expanding mineralization on the eastern edge of the East Zone.

The East Zone Resource Definition program comprising 16 angled drill holes has been completed. Ten follow-up infill holes are designed to define and extend the East Zone high-grade pods, of which six have been completed and three underway. A total of 20,433 metres of drilling has been completed since the end of March.

Mount Polley

A comprehensive exploration program began at 100%-owned Mount Polley in late 2019. One targeted area is Frypan/Morehead, a largely till covered magnetic “high” with similar magnetic response to that obtained over the Mount Polley Mine host rock. The area is located northwest of the mine and is about 3 by 3 km in size. There were 948 soil samples collected and analyzed using the Mobile Metal Ion technique. An 80.7 line-km IP survey covering the same grid area was completed where numerous, high priority targets were outlined and will be tested.

Last month the same kind of IP survey was conducted over the Mount Polley Mine site to identify the geophysical response of the known mineralization to aid in prioritizing targets on the Frypan/Morehead area. The survey consisted of 81.5 line-km and delineated known mineralization as well as outlining several new un-tested areas near the mine. Drilling is planned to test geophysical anomalies later this summer.

Huckleberry

A diamond drill is being mobilized to the 100%-owned Huckleberry Mine for exploration drilling near the East Zone pit where the majority of historic drill holes stopped in copper mineralization.  The initial focus will be to investigate the East Zone at depth below the historic drilling that ended in copper mineralization.


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