Imperial Metals Corp (TSX:III)

Mining

Imperial Metals Corporation is a mineral exploration and development company that acquires and operates mining properties across Canada.


Headquartered in Vancouver, the company was initially founded as Imperial Metals & Power Ltd in British Columbia in 1959. The mining firm merged with Bethlehem Resources Corporation in 1995.


It acquired the Red Chris project, located in northwest British Columbia, in 2007.


In March 2019, the mining company sold its 70 per cent interest in the project to Newcrest
Mining Limited. However, since August 2019, Newcrest and Imperial Metals operate the Red Chris mine under a 70:30 joint venture partnership. Newcrest also acts as the operator of the mine.


Apart from Red Chris Mine, the company’s mineral property portfolio consists of Huckleberry Mine and Mount Polley Mine.


Red Chris Mine


In 2020, the Red Chris mine reportedly produced 73,787 ounces of gold and 88.3 million pounds of copper. In addition, the company claims that exploration methods were improved in 2020 along with the implementation of new strategies to increase operational efficiency, including optimization of road conditions and dumping areas. It also claims to have installed a dispatched system at the mine, lighter weight boxes on trucks, and six new launders to increase recovery of gold and copper.


The company also aims to establish a cleaner flotation capacity for increased metal recovery. The property is held through its subsidiary Red Chris Development Company Ltd. The gold-copper mine is spread in 23,142 hectares of area and consists of 77 mineral tenures.


Mount Polley Mine


The company says that the operations at the Mount Polley mine were halted in 2019. Imperial holds a 100 per cent stake in British-Columbia based Mount Polley mine.

The mining company says that the major discovery at the property includes WX Zone, which was discovered in 2009. It reportedly hosts high-grade gold and copper mineralization.

Huckleberry Mine

The Huckleberry Mine operations have been suspended since August 2016, the exploration company claims. However, in 2018, the company reportedly undertook a thorough review of an exploration program and developed an additional plan for geological mapping, diamond drilling and MMI soil sampling at this site.

In 2019, the soil sampling program was conducted at Whiting Creek, wherein MMI soil samples were taken from three zones: Rusty Zone, Creek Zone, and Ridge Zone.

In 2020, the mining company conducted a drill program to test the deposits at the East Zone. The company says that the East zone pit produced 50 million tons of high-grade copper deposits in the past.

Contact Information

company address 580 Hornby Street, Suite 200, Vancouver, BC V6C 3B6

company phone604.669.8959

company email[email protected]

company websitewww.imperialmetals.com

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