VANCOUVER, BC--(Marketwired - June 23, 2016) - Imperial Metals Corporation ("Imperial" or "Company") (TSX: III) reports that the Ministry of Energy and Mines and the Ministry of Environment have issued the necessary authorizations to allow Mount Polley Mine ("Mount Polley") to return to normal operations making use of its repaired and buttressed Tailings Storage Facility ("TSF").
Over the past two years the management and staff at Mount Polley have worked tirelessly in close cooperation with regulatory agencies, First Nations and members of the local communities, to repair and buttress the TSF following the Best Applicable Practices identified in the Independent Expert Engineering Investigation and Review Panel ("Panel") report.
A number of important conditions and milestones were met by Mount Polley as it worked toward receipt of the regulatory authorizations required to return to normal operations. Thorough investigations by the Panel, the Ministry of Energy and Mines, and a team from Golder Associates Ltd. (the Engineer of Record retained by Mount Polley) all concurred on the failure mechanism that led to the breach of the Perimeter Embankment in August of 2014. The updated design of the embankment in this specific area reflects the results of these investigations. Furthermore, all the existing TSF embankments were investigated, and foundation conditions throughout were comprehensively characterized. These investigations led to modification of the embankments to assure that the stability of the structure meets or exceeds all applicable legislative requirements and guidelines. It should be noted that use of the existing facility was recommended as a result of an assessment of alternative sites and technologies.
The design and operating philosophy of the TSF follows the Best Applicable Practices guidelines identified in the Panel report. To ensure the TSF is operated in accordance with Best Applicable Practices on an ongoing basis, Mount Polley appointed an Independent Engineering Review Panel in January 2015 to provide ongoing review.
Since the breach of the Perimeter Embankment, Mount Polley has completed significant rehabilitation of the areas that were impacted by the breach, and will continue necessary rehabilitation and monitoring of those areas.
Research and monitoring to date indicates the environment is recovering rapidly. No long lasting impacts are anticipated at this time.
Brian Kynoch, President, said, "A return to normal operations is important to the region as Mount Polley is a significant contributor to the economy, directly providing approximately 350 jobs, as well as supporting the local communities of Likely, Williams Lake and the surrounding region. Mount Polley is committed to working with First Nations and local communities to complete rehabilitation of the areas impacted by the breach and we thank all those involved in the rehabilitation for the excellent work that has been completed to date."
Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company, through its subsidiaries, owns the Red Chris and Mount Polley copper|gold mines in British Columbia, and the Sterling gold mine in Nevada. Imperial also holds a 50% interest in Huckleberry Mines Ltd. and in the Ruddock Creek lead|zinc property, both in British Columbia.
Forward-Looking Information and Risks Notice
Certain information contained herein constitutes forward-looking information which is prospective in nature and reflect the current views and/or expectations of the Company. Often, but not always, forward-looking information can be identified by the use of statements such as "plans", "expects" or "does not expect", "is expected", "scheduled", "estimates", "forecasts", "targets", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Such information in this press release includes, without limitation, expectations that the Mount Polley TSF will continue to achieve the key Best Applicable Practices identified in the Panel report; that Mount Polley will continue necessary rehabilitation and monitoring of the areas impacted by the TSF breach; and that, in accordance with indications arising out of the research and monitoring conducted to date, the environment is recovering and there should be no long-lasting impacts.
Forward-looking information is not based on historical facts, but rather on then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We can give no assurance that the forward-looking information will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Imperial's actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements constituting forward-looking information. Important risks that could cause the Company's actual results, revenues, performance or achievements to differ materially from the Company's expectations include, among other things, those hazards and risks disclosed within the Company's Management's Discussion and Analysis for the year ended December 31, 2015 and other public filings which are available on the Company's profile on sedar.com. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Imperial does not undertake to update any forward looking information, except in accordance with applicable securities laws.