Imperial Reports Production Update for 2024 Third Quarter
VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) — Imperial Metals Corporation (“Imperial”) (TSX:III) reports quarterly copper and gold production from Mount Polley and Red Chris mines. Imperial’s production was 15.515 million pounds copper and 13,551 ounces gold, with copper production up slightly from 15.501 million pounds of copper and gold production down slightly from the second quarter production of 13,768 ounces for gold.
Metal production included 9.822 million pounds copper and 9,527 ounces gold from Mount Polley and 5.693 million pounds copper and 4,024 ounces gold from our 30% share of Red Chris mine production.
Mount Polley Mine
Mount Polley metal production for the third quarter of 2024 was 9.822 million pounds copper and 9,527 ounces gold, compared to 9.281 million pounds copper and 10,009 ounces gold produced during the second quarter of 2024.
| Mount Polley Mine Production (Q3 2024 compared to Q3 2023) | |||||
| Three Months Ended September 30 | |||||
| 2024 | 2023 | ||||
| Ore milled – tonnes | 1,694,355 | 1,560,270 | |||
| Ore milled per calendar day – tonnes | 18,417 | 16,959 | |||
| Grade % – copper | 0.316 | 0.295 | |||
| Grade g/t – gold | 0.251 | 0.322 | |||
| Recovery % – copper | 83.24 | 79.47 | |||
| Recovery % – gold | 69.65 | 70.11 | |||
| Copper – million pounds | 9.822 | 8.057 | |||
| Gold – ounces | 9,527 | 11,321 | |||
Compared to the third quarter of 2023, mill throughput was up 8.6%, with 1.694 million tonnes being treated compared with 1.560 million tonnes treated in the third quarter of 2023. Copper production in the third quarter 2024 was up by 21.9%, compared to the same quarter in 2023, with copper grade, recovery and mill throughput all higher. Gold production was lower at 9,527 ounces in the third quarter of 2024 compared to 11,321 ounces produced in the same quarter in 2023 on lower grades and recovery partially offset by higher throughput.
Stripping for the Phase 5 pushback of the Springer pit continues and approximately 3.97 million tonnes from this pushback was mined to the end of September 2024, with much of this material hauled to the TSF for buttress construction.
Red Chris Mine
Red Chris metal production (100%) for the third quarter of 2024 was 18.977 million pounds copper and 13,414 ounces gold, compared to 20.731 million pounds copper and 12,531 ounces gold produced during the second quarter of 2024.
| Red Chris Mine Production (100%) Q3 2024 compared to Q3 2023 | ||||||
| Three Months Ended September 30 | ||||||
| 2024 | 2023 | |||||
| Ore milled – tonnes | 1,995,442 | 2,288,860 | ||||
| Ore milled per calendar day – tonnes | 21,690 | 24,879 | ||||
| Grade % – copper | 0.50 | 0.35 | ||||
| Grade g/t – gold | 0.37 | 0.26 | ||||
| Recovery % – copper | 85.6 | 78.8 | ||||
| Recovery % – gold | 57.3 | 52.8 | ||||
| Copper – million pounds | 18.977 | 13.753 | ||||
| Gold – ounces | 13,414 | 10,048 | ||||
In the 2024 third quarter, Red Chris copper production was up 38% and gold production was up 33.5% compared to the third quarter of 2023. The increase in copper production was a result of a 45.7% increase in copper grade (0.50% vs 0.35%) and an 8.6% increase in recovery (85.6% vs 78.8%). The increase in gold production was a result of a 41.2% increase in gold grade (0.365 g/t vs 0.258 g/t) and an 8.5% increase in recovery (57.3% vs 52.8%).
Brian Kynoch, P.Eng., Imperial’s President has reviewed the disclosures contained in this news release and is the designated Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).
About Imperial
Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.
Company Contacts
Brian Kynoch | President | 604.669.8959
Darb S. Dhillon | Chief Financial Officer | 604.488.2658
Jim Miller-Tait | Vice President Exploration | 604.488.2676
