Imperial Reports Red Chris Production for Q3 2019
As previously announced, Imperial completed the sale of a 70% interest in the Red Chris mine to Newcrest Mining Ltd. on August 15. Imperialís portion of the third quarter production was 13.1 million lb copper and 5,634 oz gold representing 100% of production for the period July 1 through August 14, and 30% of production for the period August 15 through September 30.
Exploration drilling commenced during the third quarter with four drills currently operational. It is expected that two more drill rigs will begin drilling during the fourth quarter. Drilling will test the upside of the East Zone, Main Zone and Gully Zone and a number of regional targets. At the East Zone, a deep in-fill resource definition drilling program is under way to provide additional geological, metallurgical and geotechnical data to support studies for future underground operations. A new step out exploration drilling program is under way searching for additional zones of high grade mineralization within the main mineralized trend. Drilling is also being conducted in the Gully Zone to follow up previous high-grade intercepts.
Imperial is a Vancouver exploration, mine development and operating company. The company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds a 48% interest in the Ruddock Creek lead/zinc property.