Imperial’s Red Chris projec receives mine permit

Imperial Metals Corporation, Vancouver, has just announced that British Columbia has issued a Mines Act permit for its for Red Chris mine project.

Red Chris is located 80 km south of Dease Lake in northwestern British Columbia and is 100% owned by Imperial Metals, subject to a 1.8% net smelter royalty that can be bought down to 1.0% prior to commencement of production.

Development will include a 30,000 tonne per day milling operation and related open pit mine with reserves of 301.5 million tonnes grading 0.359% copper and 0.274 grams per tonne gold.

During operations, the project will employ approximately 300 hourly, salaried and contract personnel, operating on a fly-in/fly-out basis on a two week rotation. During construction, the workforce is expected peak at 500 workers.

In 2010, capital costs were estimated to be approximately $450 million.