Imperial Metals’ stock up over 12 per cent Tuesday afternoon on the TSX
Imperial Metals Corp. has reported higher second quarter copper and gold output from its two mines in British Columbia. Together they produced 11.2 million lb. copper and 14,289 oz. gold, compared to the previous quarter when 10.2 million lb. copper and 13,239 oz. gold were produced.
Imperial and 70 per cent owner Newcrest Mining are working on a block cave feasibility study to be completed by year-end for the Red Chris mine. Several optimization options are being assessed, including those to offset any inflationary cost pressures. The exploration program at Red Chris is focused on the discovery of additional zones of higher-grade mineralization within the porphyry corridor. The East Ridge target, outside current resources, could contain between 400 million tonnes at 0.48 per cent copper and 0.42 g/t gold and 500 million tonnes at 0.75 per cent copper and 0.39 g/t gold.
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Imperial Metals reports higher copper and gold outputVancouver-based Imperial Metals has reported higher quarterly copper and gold production, with the Mount Polley and Red Chris mines, in British Columbia, growing output in the three months ended June. The TSX-listed firm’s production for the second quarter was 11.18-million pounds of copper and 14 289 oz of gold, of which 7.06-million pounds copper and 10 185 oz gold were produced at Mount Polley and 4.12-million pounds copper and 4 104 oz gold from Imperial’s 30% share of Red Chris mine production.
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