COPPER-GOLD STUDY: Feasibility of Red Chris project updated

BRITISH COLUMBIA - Imperial Metals of Vancouver has been waiting many years to develop its Red Chris copper-gold porphyry project 80 km south of Dease Lake. Now with BC Hydro's commitment to build the Northwest Transmission Line, Imperial has updated its feasibility study in anticipation of power availability.

The province is to build a 335-km long, 298-kV power line from Terrace to Bob Quinn. Imperial will have to build its own 115-km line from Bob Quinn to the mine site.

The latest 43-101-compliant report suggests building a conventional truck-and-shovel open pit mine and 30,000-t/d flotation concentrator. Proven and probable reserves are 301.5 million tonnes grading 0.36% Cu and 0.27 g/t Au. Measured and indicated resources (including reserves) are 619.4 million tonnes at 0.38% Cu and 0.36 g/t Au. The inferred resource is 619.1 million tonnes at 0.30% Cu and 0.32 g/t Au.

Preproduction would take only four months, and the life of the mine would be 28.3 years. Preproduction capital costs are pegged at $320.8 million, including $75.4 million for mine development, $121.1 million for the processing plant and $49.5 million for the tailings management area.

The updated feasibility study can be read in its entirety at www.ImperialMetals.com. Click on Properties, Development and Red Chris.