- Imperial acquires Red Chris project 2007
- mine construction May 2012-Nov 2014
- hydro transmission line completed 4Q 2014
- mine commissioning commenced 4Q 2014
- construction cost $661.9 million
- 30,000 tpd open pit conventional milling operation
- current mine life to 2043
- Aug 2019-Newcrest Mining Limited acquired 70% interest
On March 10, 2019, Imperial announced an agreement to sell a 70% interest in Red Chris to Newcrest Mining Limited. The agreement was finalized August 15, 2019. Imperial and Newcrest have formed a joint venture for the operation of Red Chris, with Newcrest acting as operator. Imperial retains a 30% joint venture interest in the Red Chris mine. The joint venture partnership will leverage Newcrest’s unique technical expertise in block caving operations. A plan to mine the deep resource beneath the current open pits will be developed to exploit the high grades in the deep East zone.
During the 2019 third quarter, exploration drilling commenced with four drills currently operational. Two more drill rigs are expected to begin drilling during the 2019 fourth quarter.
Drilling will test the upside of the East Zone, Main Zone and Gully Zone and a number of regional targets. At the East Zone, a deep in-fill resource definition drilling program is underway to provide additional geological, metallurgical and geotechnical data to support studies for future underground operations. A new step out exploration drilling program is underway searching for additional zones of high grade mineralization within the main mineralized trend. Drilling is also being conducted in the Gully Zone to follow up previous high grade intercepts.
Metal production for 2019 is expected to be in the range of 72-76 million pounds copper and 36-38 thousand ounces gold. The target is to achieve 100% of design capacity, averaging 30,000 tonnes per calendar day.
|Copper - 000’s pounds
|Gold - ounces
Red Chris Development Company Ltd., a subsidiary of Imperial, holds 30% interest in the Red Chris copper/gold mine in northwest British Columbia, 80 km south of Dease Lake. The Red Chris property encompasses 23,142 hectares, and is comprised of the main and south claim groups, consisting of 77 mineral tenures, five of which are mining leases.
For additional information, refer to the Company’s New Releases, Quarter Reports & Annual Information Form.