The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
III: TSX
Chairman: Pierre Lebel
President and COO: J. Brian Kynoch
Vice President, Exploration: Patrick M. McAndless
Imperial Metals Corp., organized in 2001, is a Vancouver-based miner focused on discovering, developing and operating base-and precious-metal assets in western North America.
Key properties include the Mount Polley open-pit copper-gold mine in central British Columbia, 50 percent interest in the Huckleberry open-pit copper-molybdenum mine in northern British Columbia, the development-stage Red Chris copper-gold property in northwest British Columbia, and a development-stage gold property in Nevada.
Milestones in 2009 for Imperial include an extension of the mine plan for Huckleberry, which includes the Saddle zone resource, aimed at providing mill feed to extending milling operations to the end of 2011.
Annual estimated copper production will be about 40 million pounds per year.
The Saddle zone resource, located between the Main zone pit and the Main zone extension pit, has a high potential to provide additional extensions to the mine's life depending on copper prices.
Imperial resumed exploration at the Red Chris property during the second quarter with plans for an expanded and deep penetrating geophysical program, shallow reconnaissance drilling to map the till-covered plateau area, and restart of a deep diamond drill program to further explore the depth potential of the deposit.
At Mount Polley, Imperial has focused drilling in the Boundary zone.
The area is being explored for underground mineable mineralization that is too deep to be captured in the current open-pit design.
A 500-meter-long underground ramp, to provide access from the Wight pit to the Boundary zone, has been designed and submitted for approval.
The ramp will be used to conduct further exploration and to provide access for potential underground mining of this zone.
Imperial also explored the Springer zone and other zones on the property, as well as the Pond zone where it intends to delineate high-grade mineralization below the designed open pit, which may be amenable to underground mining.
At the Pond zone, Imperial aimed to explore the portion of skarn mineralization that carries the highest grades discovered to date.
In July, Imperial agreed to merge with Selkirk Metals Corp., subject to shareholder and regulatory approval. The business combination would pair Imperial's proven development, operating and financial capability with Selkirk's portfolio of development stage and advanced exploration projects, especially the Catface copper project on Vancouver Island and the Ruddock Creek zinc-lead project in southern British Columbia.
Cash and short-term deposits: C$14.7 million (at June 30, 2009)
Working capital: C$36.4 million (at June 30, 2009)
Market capitalization: US$130.0 million (at July 31, 2009)
200 - 580 Hornby St., Vancouver, BC V6C 3B6
Tel: 604-669-8959 Fax: 604-687-4030
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