Imperial Metals Corp TSX:III reported a new measured and indicated resource estimate for its wholly owned Mount Polley open-pit copper-gold mine in central British Columbia. The resource, a 73% increase over the previous estimate, now comprises 361.1 million tonnes grading 0.284% copper, 0.297 grams per tonne gold and 0.846 g/t silver for 2.26 billion tonnes copper, 3.45 million ounces gold and 9.83 million ounces silver. Inferred resources are 33.3 million tonnes grading 0.188% copper, 0.242 g/t gold and 0.592 g/t silver for 138.2 million pounds copper, 258,752 ounces gold and 633,934 ounces silver. Proven and probable reserves are 87.3 million tonnes grading 0.292% copper, 0.302 g/t gold and 0.407 g/t silver for 561.2 million pounds copper, 846,749 ounces gold and 1.14 million ounces silver.
Mount Polley exploration continues with two surface drills. This reserve estimate extends the current Mount Polley mine life from 2016 to the 2Q 2023. Imperial produced 47.9 million pounds copper, 44,274 ounces gold, 204,861 ounces silver and 3,465 pounds molybdenum from its Mount Polley and Huckleberry mines in 2011. Anticipated 2012 production is 50.5 million pounds copper, 48,000 ounces gold and 160,000 ounces silver.
or Gordon Keevil
VP Corporate Development
or Sabine Goetz
by Kevin Michael Grace