Click here to close now.

SYS-CON MEDIA Authors: Ian Goldsmith, Ed Featherston, Elizabeth White, Pat Romanski, Liz McMillan

News Feed Item

Imperial Reports on Mount Polley Exploration Results from Springer Zone

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/05/13 -- Imperial Metals Corporation (TSX:III) reports results from exploration below the south end of the Springer pit at Mount Polley.(1)(2) The drilling has confirmed that mineralization in this area extends well below the planned Springer pit bottom and further to the east in the vicinity of drill hole SD12-147.

The final phase of 2012 surface exploration drilling was conducted in the south end of the active Springer pit and tested areas both within the current mine plan and also below the proposed Phase 5 Springer pit. Drill hole SD12-147, drilled along the eastern edge of the known Springer mineralization, intercepted 446.3 metres grading 0.34% copper and 0.31 g/t gold. Prior to this drilling, the resource block model relied on an older, short drill hole with lower copper grades and no gold assay data, so the effect of hole SD12-147 on the pending block model update will be to extend the copper/gold mineralization both to depth and to the east and provide better copper/gold grade information.

All holes drilled in this program intersected long intervals of copper/gold mineralization above the current mine cut-off grades, as shown on the table below. The copper oxide level averaged 6.5% over the long intervals, shown on the table, which is much less than the average copper oxide level of 14% in the ore delivered to the mill in 2012. The lower oxide level results in better copper recovery in the flotation circuit. Also, some holes intercepted shorter intervals with copper grades averaging over 1% as highlighted by SD12-152 which intercepted 67.5 metres grading 1.27% copper and 0.90 g/t gold well below the planned pit, and hole SD12-150 which intercepted 31.9 metres grading 1.20% copper and 0.84 g/t just below the planned pit, and SD12-157 which intercepted 23.5 metres grading 1.20% copper and 1.16 g/t gold within the planned Springer pit.

Selected intercepts from the Springer zone(3):


----------------------------------------------------------------------------
                  Depth to                                                  
                   Planned                                                  
            Total      Pit Interval Interval Interval              (i)Copper
Drill      Length   Bottom     from       to   Length Copper  Gold     Equiv
Hole #        (m)      (m)      (m)      (m)      (m)      %   g/t         %
----------------------------------------------------------------------------
SD12-147    523.3    128.0      3.7    450.0    446.3   0.34  0.31      0.54
including                     186.8    257.5     70.7   0.54  0.73      1.02
SD12-150    678.2    180.0     57.5    547.2    489.7   0.41  0.36      0.65
including                     180.0    211.9     31.9   1.20  0.84      1.76
including                     427.5    492.5     65.0   0.54  0.69      1.00
SD12-151    720.9    180.0    150.0    720.9    570.9   0.29  0.30      0.49
including                     252.5    290.0     37.5   0.73  0.47      1.04
including                     302.5    345.0     42.5   0.62  0.48      1.00
SD12-152    471.5    195.0    230.1    471.5    241.4   0.60  0.54      0.95
including                     280.0    347.5     67.5   1.27  0.90      1.86
SD12-153    670.6    157.0    147.5    670.6    523.1   0.29  0.39      0.54
including                     502.5    567.5     65.0   0.52  0.86      1.09
SD13-156    612.7    135.0      6.1    607.5    601.4   0.30  0.34      0.53
including                     157.3    435.0    277.7   0.46  0.48      0.77
SD12-157    483.1    150.0      7.5    348.1    340.6   0.30  0.37      0.55
including                      41.0     64.5     23.5   1.20  1.16      1.97
including                     412.5    462.5     50.0   0.17  0.39      0.43
----------------------------------------------------------------------------
                                        (i) CuEq% = Cu% + (0.662 x Au g/t)

Diamond drilling at depth below the Springer pit has confirmed the mineralization continues for several hundred metres below the current mine plan and is notably higher grade in certain areas than is assumed in the resource block model. This exploration drilling data will be used to support an updated resource and mine model, currently in progress. Eight of the 11 holes reported ended in copper/gold mineralization. Underground exploration drilling from the Boundary zone workings has recently restarted.

Steve Robertson, P.Geo., the designated Qualified Person as defined by National Instrument 43-101 for the exploration programs, has reviewed this news release. Mount Polley samples for the diamond drilling reported were analyzed at the Mount Polley mine laboratory. A full QA/QC program using blanks, standards and duplicates was maintained for all diamond drilling samples submitted to the labs. The porphyry and breccia related mineralized areas at Mount Polley are irregular in shape and true thicknesses have not been estimated.

Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company operates the Mount Polley open pit copper/gold mine in BC, the Sterling gold heap leach mine in Nevada, and has a 50% interest in the Huckleberry open pit copper/molybdenum mine in BC. Imperial's Ruddock Creek lead/zinc property in BC is a (50/50) joint venture. In 2012 Imperial commenced construction of the Red Chris copper/gold mine in BC, with a mid-2014 completion target.

Documents available on www.imperialmetals.com:

(1) Springer drill plan; (2) Springer section; (3) 2012 Mount Polley drill data

CAUTIONARY NOTE REGARDING "FORWARD-LOOKING INFORMATION":

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF CANADIAN AND UNITED STATES SECURITIES LAWS. EXCEPT FOR STATEMENTS OF FACT RELATING TO THE COMPANY, CERTAIN INFORMATION CONTAINED HEREIN CONSTITUTES FORWARD-LOOKING STATEMENTS.

WHEN WE DISCUSS CURRENT AND FUTURE EXPLORATION PROGRAMS, EXPLORATION RESULTS, AND EXPECTATIONS OR ASSUMPTIONS BASED ON THOSE RESULTS, WE ARE MAKING STATEMENTS CONSIDERED TO BE FORWARD-LOOKING INFORMATION OR FORWARD-LOOKING STATEMENTS UNDER CANADIAN AND UNITED STATES SECURITIES LAWS. WE REFER TO THEM IN THIS NEWS RELEASE AS FORWARD-LOOKING INFORMATION. THE FORWARD-LOOKING INFORMATION IN THIS NEWS RELEASE TYPICALLY INCLUDES WORDS AND PHRASES ABOUT THE FUTURE, SUCH AS: PLAN, EXPECT, FORECAST, INTEND, ANTICIPATE, ESTIMATE, BUDGET, SCHEDULED, BELIEVE, MAY, COULD, WOULD, MIGHT AND WILL.

WE CAN GIVE NO ASSURANCE THAT THE FORWARD-LOOKING INFORMATION WILL PROVE TO BE ACCURATE. IT IS BASED ON A NUMBER OF ASSUMPTIONS MANAGEMENT BELIEVES TO BE REASONABLE, INCLUDING BUT NOT LIMITED TO: THE CONTINUED OPERATION OF THE COMPANY'S MINING OPERATIONS, THAT THE MINING OPERATIONS WILL OPERATE AND THE MINING PROJECTS WILL BE COMPLETED IN ACCORDANCE WITH THEIR ESTIMATES AND ACHIEVE STATED PRODUCTION OUTCOMES, AND SUCH OTHER ASSUMPTIONS AND FACTORS AS SET OUT HEREIN. IT IS ALSO SUBJECT TO RISKS ASSOCIATED WITH OUR BUSINESS, INCLUDING BUT NOT LIMITED TO: RISKS INHERENT IN THE MINING AND METALS BUSINESS; COMMODITY PRICE FLUCTUATIONS AND HEDGING; COMPETITION FOR MINING PROPERTIES; SALE OF PRODUCTS AND FUTURE MARKET ACCESS; MINERAL RESERVES AND RECOVERY ESTIMATES; CURRENCY FLUCTUATIONS; INTEREST RATE RISK; FINANCING RISKS; ENVIRONMENTAL RISKS; FOREIGN ACTIVITIES; LEGAL PROCEEDINGS; AND OTHER RISKS THAT ARE SET OUT IN OUR ANNUAL INFORMATION FORM AND MANAGEMENT'S DISCUSSION & ANALYSIS. IF OUR ASSUMPTIONS PROVE TO BE INCORRECT OR RISKS MATERIALIZE, OUR ACTUAL RESULTS AND EVENTS MAY VARY MATERIALLY FROM WHAT WE CURRENTLY EXPECT AS SET OUT IN THIS NEWS RELEASE.

WE RECOMMEND YOU REVIEW OUR ANNUAL INFORMATION FORM AND ANNUAL MANAGEMENT'S DISCUSSION AND ANALYSIS, WHICH INCLUDE A DISCUSSION OF MATERIAL RISKS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM OUR CURRENT EXPECTATIONS. FORWARD-LOOKING INFORMATION IS DESIGNED TO HELP YOU UNDERSTAND MANAGEMENT'S CURRENT VIEWS OF OUR NEAR AND LONGER TIME PROSPECTS, AND IT MAY NOT BE APPROPRIATE FOR OTHER PURPOSES. WE WILL NOT NECESSARILY UPDATE THIS INFORMATION UNLESS WE ARE REQUIRED TO BY SECURITIES LAWS.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
How does one bridge the gap between traditional enterprise storage infrastructures and the private, hybrid, and public cloud? In his session at 15th Cloud Expo, Dan Pollack, Chief Architect of Storage Operations at AOL Inc., examed the workload differences and required changes to reuse existing knowledge and components when building and using a cloud infrastructure. He also looked into the operational considerations, tool requirements, and behavioral changes required for private cloud storage s...
Software is eating the world. Companies that were not previously in the technology space now find themselves competing with Google and Amazon on speed of innovation. As the innovation cycle accelerates, companies must embrace rapid and constant change to both applications and their infrastructure, and find a way to deliver speed and agility of development without sacrificing reliability or efficiency of operations. In her Day 2 Keynote DevOps Summit, Victoria Livschitz, CEO of Qubell, discussed...
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at DevOps Summit, Alex Gorbachev, President of Intelligent Systems Services Inc., will share foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN st...
Working with Big Data is challenging, especially when decision makers depend on market insights and intelligence from your data but don't have quick access to it or find it unusable. In their session at 6th Big Data Expo, Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia; Zel Bianco, President, CEO and Co-Founder of Interactive Edge of Solgenia; and Ermanno Bonifazi, CEO & Founder at Solgenia, discussed how a revolutionary cloud-based BI along with mobile analytics is already c...
Gartner predicts that the bulk of new IT spending by 2016 will be for cloud platforms and applications and that nearly half of large enterprises will have cloud deployments by the end of 2017. The benefits of the cloud may be clear for applications that can tolerate brief periods of downtime, but for critical applications like SQL Server, Oracle and SAP, companies need a strategy for HA and DR protection. While traditional SAN-based clusters are not possible in these environments, SANless cluste...
Hardware will never be more valuable than on the day it hits your loading dock. Each day new servers are not deployed to production the business is losing money. While Moore's Law is typically cited to explain the exponential density growth of chips, a critical consequence of this is rapid depreciation of servers. The hardware for clustered systems (e.g., Hadoop, OpenStack) tends to be significant capital expenses. In his session at Big Data Expo, Mason Katz, CTO and co-founder of StackIQ, disc...
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager – Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, will review next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discuss how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Speaker Bios Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has b...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enter...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data...
With worldwide spending on cloud services and infrastructure growing by 23% in 2015 to $118B, it is clear that cloud services are here to stay. Yet, the rate of cloud adoption varies by companies and markets around the world. With thousands of outages and hijacks across the Internet every day, one reason for hesitation is the faith in quality Internet performance. In his session at 16th Cloud Expo, Michael Kane, Senior Manager at Dyn, will explore how Internet performance affects your end-user...