Imperial Metals Corporation reveals 3Q18 production results

Red Chris metal production was 13.55 million lb copper and 8741 oz gold, a decrease of 31% and an increase of 4% respectively, from 19.66 million lb copper and 8426 oz gold produced in the comparable 2017 quarter. Mill throughput averaged 30 544 t per calendar day during the third quarter ended 30 September 2018. Metal recoveries were 74.92% copper and 45.65% gold, compared to 78.94% copper and 43.09% gold in the third quarter of September 2017. Gold recoveries and grades continue to exceed budget, while copper recoveries continued to be lower than planned. As mining activities progress deeper into phase 4 of the Main zone pit, the copper recovery is increasing. The October month to date copper recovery was 78.1%, an increase from the average copper recovery of 74.92% achieved in the 2018 third quarter.

Mount Polley metal production during the September 2018 quarter was 2.60 million lb copper and 7748 oz gold, a decrease of 34% and 22% respectively from the 3.98 million lb copper and 9989 oz gold produced in the third quarter ended 30 September 2017. Mill throughput averaged 15 145 t per calendar day. Metal recoveries were 38.39% copper and 65.06% gold, compared to 61.44% copper and 67.22% gold in the comparable 2017 quarter.

The unionised employees at Mount Polley returned to work in August following the strike that began on 23 May 2018. Following the return to work, mining in the Cariboo pit was restarted and the mill no longer relied solely on low grade stockpiles. Mining at the Cariboo pit is anticipated to be completed by mid-November, following which the mill will process feed from the low grade stockpiles. The dredging operation to remove tailings from the Springer pit now expected to be completed by the end of the 2019 first quarter. The low-grade stockpiles are sufficient to maintain milling operations until mid-2019.

Red Chris 2018 production targets have been revised to an estimated 61.9 million pounds copper and 43 200 oz gold, approximately 83% and 135% respectively of the mid-point production target totals set in early 2018.

Mount Polley 2018 production targets have been revised to an estimated 15.6 million lb copper and 39 500 oz gold, representing about 87% of the mid-point production target totals set in early 2018.

Read the article online at: https://www.globalminingreview.com/exploration-development/22102018/imperial-metals-corporation-reveals-3q18-production-results/