Imperial Metals Provides Update on Mount Polley Mine

Imperial Metals (III.TO) overnight Wednesday said in 2024 it produced 35.7 million pounds of copper and 39,108 ounces of gold at Mount Polley. The company said the mine met its targets of 34 to 37 million pounds for copper production and 37 to 41 thousand ounces for gold production. During the fourth quarter at the Mount Polley mine, the company treated 1.7 million tonnes of ore, up 6% compared to the prior year period. The mine also produced 9.242 million pounds copper and 9,564 ounces gold in the quarter. At the 2024 Mount Polley Phase 2 exploration program, hole C2-24-115 intersected 127.5 metres grading 0.72% copper and 1.43 g/t gold, starting from 302.5 metres. The hole targeted a deeper, higher grade C2 mineralization. The company said the other Phase 2 holes in the C2 Zone targeted near to surface mineralization and added that it included a "notable" interval of 222 metres grading 0.45% copper and 0.62 g/t gold starting from a depth of 18 metres (sub-crop) in diamond drill hole C2-24-110. Shares of the company closed up $0.010 or about 1%, to $1.98 on Wednesday on the Toronto Stock Exchange.