Red Chris Production and Exploration Update

VANCOUVER, British Columbia, July 22, 2020 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports Red Chris metal production for the second quarter of 2020 was 26.5 million pounds copper and 22,057 ounces gold, up from 22.5 million pounds copper and 17,427 ounces gold in the 2020 first quarter.

Imperial’s 30% portion of Red Chris second quarter production was 7.9 million pounds copper and 6,617 ounces gold. Newcrest Red Chris Mining Limited is operator of the Red Chris Joint Venture (Newcrest 70%/ Imperial 30%). 

Red Chris - Exploration Update

The highlight in the second quarter was drill hole RC625, which is the second hole drilled in the newly discovered high grade pod. First intersected by RC616 this new high grade pod is located on the western edge of the East zone.  Hole RC625 has returned a partial intercept of 400 metres grading 0.65 g/t gold and 0.51% copper, which includes a 60 metre interval grading 2.2 g/t gold and 1.3% copper. This has expanded the new high grade zone as RC625 is located 100 metres south west of RC616. Drilling to define and extend this new high grade zone is ongoing.

Final results for drill hole RC623 (partial results ref: June 10, 2020 news release) were received.  RC623 intersected 532 metres grading 1.3 g/t gold and 0.82% copper, including 122 metres grading 4.5 g/t gold and 2.3% copper. RC623 was drilled to expand and confirm the continuity of the discrete high-grade East Zone pod in the vicinity of RC09-350.  Drill hole RC620, drilled 100 metres below RC611, has confirmed the extent of the +1 g/t gold halo which surrounds the high grade pod. Follow up infill drilling continues to define the extent of this high grade mineralization.

The eastern most drill hole drilled by Newcrest to date, is RC621 which is located on the eastern edge of the known mineralization about 400 metres east of RC09-350. Hole RC621 intercepted 414 metres grading 0.39 g/t gold and 0.32% copper, including an interval of 84 metres grading 0.73 g/t gold and 0.45% copper.  Hole RC621 was drilled along a section that only one hole (RC-10-411) had been previously drilled and is expanding the mineralization on the eastern edge of the East zone.

The East Zone Resource Definition program comprising 16 angled drill holes has been completed. A further 10 follow up infill holes were designed to define and extend the East zone high grade pods, of which 6 have been completed and 3 holes are underway.