Imperial Metals Corporation

Imperial Metals Corporation

July 08, 2005 09:00 ET

Imperial Loads First Concentrate Shipment and Reports a New Zone of High Grade Mineralization at Mount Polley

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 8, 2005) - Imperial Metals Corporation (TSX:III) is pleased to report the achievement of another milestone in the resumption of operations at its wholly owned Mount Polley mine with the first concentrate shipment of approximately 11,500 tonnes of copper concentrate on July 10 from the Vancouver Wharves terminal in North Vancouver. This shipment graded approximately 24.5% copper, 27.9 g/t gold and 76.2 g/t silver, and contained an estimated 5.567 million pounds of copper, 9,340 ounces of gold and 23,700 ounces of silver.

Concentrate production to the end of June 2005 was approximately 12,000 tonnes, mostly from low grade stockpile ore supplemented with Bell and Wight pit ore. Development of the Wight and Bell pits is well advanced. A total of 117,000 tonnes of ore from the Wight Pit in the Northeast Zone grading 0.557% copper and 0.136 g/t gold were delivered to the mill in June.

The 20,000 tonne per day capacity open pit Mount Polley mine is located near Williams Lake in south-central British Columbia. Under the current plan, Mount Polley will produce approximately 60 million pounds of copper, 50 thousand ounces of gold and 250 thousand ounces of silver in 2006.

Exploration drilling near a previously untested copper oxide showing known as the Pond Zone resulted in a discovery intersection of 51.3 metres grading 0.88% copper, 0.66 g/t gold and 11.57 g/t silver. Discovery hole PZ05-01 is one of four holes recently completed to test the lateral and depth extent of the Pond Zone, located one kilometre south of the mill.

New exploration targets continue to be tested, including the 92 Zone, located 200 metres beyond the northern most mineralized intercept of the Northeast Zone. Highlights of an initial round of 15 holes include WB05-220 which intersected 70.2 metre grading 0.49% copper, 0.46 g/t gold and 4.37 ppm silver. This intersection included 24.1 metres grading 0.81 % copper, 0.48 g/t gold and 7.27 ppm silver. This first stage of drilling has confirmed the continuation of the zone northward underneath the volcanic cover.

Drilling at the Southeast Zone, located one kilometre southeast of the mill complex, has outlined an additional source of mill feed with a high gold to copper ratio and a low stripping ratio to blend with high grade copper ore from the Wight Pit.

Exploration emphasis at Mount Polley will now shift from definition drilling to a property wide exploration program that will focus on the discovery of additional mineralized zones. This program will include till and whole rock geochemical sampling and percussion drilling to establish new targets for follow-up diamond drilling in the fall. The results of a recently completed downhole IP survey to test the ability to remotely detect the deeper mineralization at Northeast Zone are also under review.

Patrick McAndless is the Qualified Person responsible for the preparation of the technical information in this release as defined by National Instrument 43-101. Samples were analyzed by Acme Analytical Labs Ltd. in Vancouver, BC.

Contact Information

  • Imperial Metals Corporation
    Brian Kynoch
    (604) 669-8959
    (604) 687-4030 (FAX)
    Imperial Metals Corporation
    Patrick McAndless
    Vice President Exploration
    (604) 488-2665
    Imperial Metals Corporation
    Sabine Goetz
    Investor Relations
    (604) 488-2657