BRITISH COLUMBIA – Imperial Metals of Vancouver says the indicated resource at its Ruddock Creek project 155 km northeast of Kamloops continues to increase, now reaching 4.65 million tonnes grading 6.77% Zn and 1.38% Pb at a cut-off of 4.0% combined Pb+Zn. This is a 99% jump from the estimate of July 2009. The inferred resource has seen a rise of 261% to 5.38 million tonnes grading 6.69% Zn and 1.31% Pb over the same time.
The combined Ruddock Creek resources include the Upper E, Lower E and the Creek zones. This area covers only 2 km of the known strike length from drilling, mapping and sampling of the 5 km length of the Ruddock Creek sulphide horizon.
Imperial has granted Mitsui Mining and Smelting and Itochu Corp., an option to earn a 50% interest at Ruddock Creek. The two Japanese partners are spending at least $14 million to the end of March this year to earn a 35% interest. They intend to spend a further $6 million to earn an additional 15% interest by March 31, 2013.
A brief history of Ruddock Creek is available at ImperialMetals.com.