Vancouver-based Imperial Metals has reported higher quarterly copper and gold production, with the Mount Polley and Red Chris mines, in British Columbia, growing output in the three months ended June.
The TSX-listed firm’s production for the second quarter was 11.18-million pounds of copper and 14 289 oz of gold, of which 7.06-million pounds of copper and 10 185 oz of gold were produced at Mount Polley and 4.12-million pounds of copper and 4 104 oz of gold were from Imperial’s 30% share of Red Chris mine production.
Total production increased this quarter compared with 10.16-million pounds of copper and 13 129 oz of gold produced in the previous quarter.
Imperial owns Red Chris in a venture with Australia-based major Newcrest.
Meanwhile, the company said that the Red Chris block cave feasibility study would be completed in the second half of the year. Several optimisation opportunities to unlock further value were being assessed as part of the study, including options for the initial extraction level of the first block cave and alternative plant expansion options.
Newcrest is reviewing various options to offset any inflationary cost pressures on future capital expenditure and operating costs. Progress towards block cave mining is advancing with the exploration decline at 3 245 m as of July 20, and the ventilation fans have been commissioned in the first ventilation raise.
The exploration programme at Red Chris is focused on the discovery of additional zones of higher-grade mineralisation within the Red Chris porphyry corridor. During the quarter, there were up to four diamond drill rigs in operation, and a further 6 947 m of drilling was completed during the quarter from 11 drill holes.
