Imperial Reports on Mount Polley Exploration Results from Springer Zone
05 Février 2013 - 11:53PM
Marketwired
Imperial Metals Corporation (TSX:III) reports results from
exploration below the south end of the Springer pit at Mount
Polley.(1)(2) The drilling has confirmed that mineralization in
this area extends well below the planned Springer pit bottom and
further to the east in the vicinity of drill hole SD12-147.
The final phase of 2012 surface exploration drilling was
conducted in the south end of the active Springer pit and tested
areas both within the current mine plan and also below the proposed
Phase 5 Springer pit. Drill hole SD12-147, drilled along the
eastern edge of the known Springer mineralization, intercepted
446.3 metres grading 0.34% copper and 0.31 g/t gold. Prior to this
drilling, the resource block model relied on an older, short drill
hole with lower copper grades and no gold assay data, so the effect
of hole SD12-147 on the pending block model update will be to
extend the copper/gold mineralization both to depth and to the east
and provide better copper/gold grade information.
All holes drilled in this program intersected long intervals of
copper/gold mineralization above the current mine cut-off grades,
as shown on the table below. The copper oxide level averaged 6.5%
over the long intervals, shown on the table, which is much less
than the average copper oxide level of 14% in the ore delivered to
the mill in 2012. The lower oxide level results in better copper
recovery in the flotation circuit. Also, some holes intercepted
shorter intervals with copper grades averaging over 1% as
highlighted by SD12-152 which intercepted 67.5 metres grading 1.27%
copper and 0.90 g/t gold well below the planned pit, and hole
SD12-150 which intercepted 31.9 metres grading 1.20% copper and
0.84 g/t just below the planned pit, and SD12-157 which intercepted
23.5 metres grading 1.20% copper and 1.16 g/t gold within the
planned Springer pit.
Selected intercepts from the Springer zone(3):
----------------------------------------------------------------------------
Depth to
Planned
Total Pit Interval Interval Interval (i)Copper
Drill Length Bottom from to Length Copper Gold Equiv
Hole # (m) (m) (m) (m) (m) % g/t %
----------------------------------------------------------------------------
SD12-147 523.3 128.0 3.7 450.0 446.3 0.34 0.31 0.54
including 186.8 257.5 70.7 0.54 0.73 1.02
SD12-150 678.2 180.0 57.5 547.2 489.7 0.41 0.36 0.65
including 180.0 211.9 31.9 1.20 0.84 1.76
including 427.5 492.5 65.0 0.54 0.69 1.00
SD12-151 720.9 180.0 150.0 720.9 570.9 0.29 0.30 0.49
including 252.5 290.0 37.5 0.73 0.47 1.04
including 302.5 345.0 42.5 0.62 0.48 1.00
SD12-152 471.5 195.0 230.1 471.5 241.4 0.60 0.54 0.95
including 280.0 347.5 67.5 1.27 0.90 1.86
SD12-153 670.6 157.0 147.5 670.6 523.1 0.29 0.39 0.54
including 502.5 567.5 65.0 0.52 0.86 1.09
SD13-156 612.7 135.0 6.1 607.5 601.4 0.30 0.34 0.53
including 157.3 435.0 277.7 0.46 0.48 0.77
SD12-157 483.1 150.0 7.5 348.1 340.6 0.30 0.37 0.55
including 41.0 64.5 23.5 1.20 1.16 1.97
including 412.5 462.5 50.0 0.17 0.39 0.43
----------------------------------------------------------------------------
(i) CuEq% = Cu% + (0.662 x Au g/t)
Diamond drilling at depth below the Springer pit has confirmed
the mineralization continues for several hundred metres below the
current mine plan and is notably higher grade in certain areas than
is assumed in the resource block model. This exploration drilling
data will be used to support an updated resource and mine model,
currently in progress. Eight of the 11 holes reported ended in
copper/gold mineralization. Underground exploration drilling from
the Boundary zone workings has recently restarted.
Steve Robertson, P.Geo., the designated Qualified Person as
defined by National Instrument 43-101 for the exploration programs,
has reviewed this news release. Mount Polley samples for the
diamond drilling reported were analyzed at the Mount Polley mine
laboratory. A full QA/QC program using blanks, standards and
duplicates was maintained for all diamond drilling samples
submitted to the labs. The porphyry and breccia related mineralized
areas at Mount Polley are irregular in shape and true thicknesses
have not been estimated.
Imperial is an exploration, mine development and operating
company based in Vancouver, British Columbia. The Company operates
the Mount Polley open pit copper/gold mine in BC, the Sterling gold
heap leach mine in Nevada, and has a 50% interest in the
Huckleberry open pit copper/molybdenum mine in BC. Imperial's
Ruddock Creek lead/zinc property in BC is a (50/50) joint venture.
In 2012 Imperial commenced construction of the Red Chris
copper/gold mine in BC, with a mid-2014 completion target.
Documents available on www.imperialmetals.com:
(1) Springer drill plan; (2) Springer section; (3) 2012 Mount
Polley drill data
CAUTIONARY NOTE REGARDING "FORWARD-LOOKING INFORMATION":
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN
THE MEANING OF CANADIAN AND UNITED STATES SECURITIES LAWS. EXCEPT
FOR STATEMENTS OF FACT RELATING TO THE COMPANY, CERTAIN INFORMATION
CONTAINED HEREIN CONSTITUTES FORWARD-LOOKING STATEMENTS.
WHEN WE DISCUSS CURRENT AND FUTURE EXPLORATION PROGRAMS,
EXPLORATION RESULTS, AND EXPECTATIONS OR ASSUMPTIONS BASED ON THOSE
RESULTS, WE ARE MAKING STATEMENTS CONSIDERED TO BE FORWARD-LOOKING
INFORMATION OR FORWARD-LOOKING STATEMENTS UNDER CANADIAN AND UNITED
STATES SECURITIES LAWS. WE REFER TO THEM IN THIS NEWS RELEASE AS
FORWARD-LOOKING INFORMATION. THE FORWARD-LOOKING INFORMATION IN
THIS NEWS RELEASE TYPICALLY INCLUDES WORDS AND PHRASES ABOUT THE
FUTURE, SUCH AS: PLAN, EXPECT, FORECAST, INTEND, ANTICIPATE,
ESTIMATE, BUDGET, SCHEDULED, BELIEVE, MAY, COULD, WOULD, MIGHT AND
WILL.
WE CAN GIVE NO ASSURANCE THAT THE FORWARD-LOOKING INFORMATION
WILL PROVE TO BE ACCURATE. IT IS BASED ON A NUMBER OF ASSUMPTIONS
MANAGEMENT BELIEVES TO BE REASONABLE, INCLUDING BUT NOT LIMITED TO:
THE CONTINUED OPERATION OF THE COMPANY'S MINING OPERATIONS, THAT
THE MINING OPERATIONS WILL OPERATE AND THE MINING PROJECTS WILL BE
COMPLETED IN ACCORDANCE WITH THEIR ESTIMATES AND ACHIEVE STATED
PRODUCTION OUTCOMES, AND SUCH OTHER ASSUMPTIONS AND FACTORS AS SET
OUT HEREIN. IT IS ALSO SUBJECT TO RISKS ASSOCIATED WITH OUR
BUSINESS, INCLUDING BUT NOT LIMITED TO: RISKS INHERENT IN THE
MINING AND METALS BUSINESS; COMMODITY PRICE FLUCTUATIONS AND
HEDGING; COMPETITION FOR MINING PROPERTIES; SALE OF PRODUCTS AND
FUTURE MARKET ACCESS; MINERAL RESERVES AND RECOVERY ESTIMATES;
CURRENCY FLUCTUATIONS; INTEREST RATE RISK; FINANCING RISKS;
ENVIRONMENTAL RISKS; FOREIGN ACTIVITIES; LEGAL PROCEEDINGS; AND
OTHER RISKS THAT ARE SET OUT IN OUR ANNUAL INFORMATION FORM AND
MANAGEMENT'S DISCUSSION & ANALYSIS. IF OUR ASSUMPTIONS PROVE TO
BE INCORRECT OR RISKS MATERIALIZE, OUR ACTUAL RESULTS AND EVENTS
MAY VARY MATERIALLY FROM WHAT WE CURRENTLY EXPECT AS SET OUT IN
THIS NEWS RELEASE.
WE RECOMMEND YOU REVIEW OUR ANNUAL INFORMATION FORM AND ANNUAL
MANAGEMENT'S DISCUSSION AND ANALYSIS, WHICH INCLUDE A DISCUSSION OF
MATERIAL RISKS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM OUR CURRENT EXPECTATIONS. FORWARD-LOOKING INFORMATION IS
DESIGNED TO HELP YOU UNDERSTAND MANAGEMENT'S CURRENT VIEWS OF OUR
NEAR AND LONGER TIME PROSPECTS, AND IT MAY NOT BE APPROPRIATE FOR
OTHER PURPOSES. WE WILL NOT NECESSARILY UPDATE THIS INFORMATION
UNLESS WE ARE REQUIRED TO BY SECURITIES LAWS.
Contacts: Imperial Metals Corporation Brian Kynoch President
604.669.8959 Imperial Metals Corporation Gordon Keevil Vice
President Corporate Development 604.488.2677 Imperial Metals
Corporation Sabine Goetz Investor Relations
604.488.2657info@imperialmetals.com www.imperialmetals.com
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