https://www.miningweekly.com
Copper|Exploration|Gold|Drilling
Copper|Exploration|Gold|Drilling
copper|exploration|gold|drilling

Imperial Metals raises cash for Red Chris

16th August 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Vancouver-based Imperial Metals has announced a nonbrokered private placement of up to seven-million shares at C$2.40 each to raise C$16.8-million.

The proceeds from the placement will be used to fund the operation and development at the Red Chris mine, in which it owns 30%, and for general working capital purposes.

Besides its shareholding in Red Chris, Imperial also owns the Mount Polley mine. The Toronto-listed company earlier this week reported diamond drill results from the final five holes of the second phase of the Mount Polley 2023 exploration programme, including a notable interval of 230.1 m, grading 0.31% copper and 0.50 g/t gold, starting from a depth of 7.4 m.

The second phase of drilling was completed in June to follow up on the significant results obtained in the first phase of drilling. Both phases were conducted in an underexplored area between the Springer and Cariboo mineralised zones.

“There continues to be opportunity to expand the Springer mineralisation, especially at depth, and a follow-up programme will be designed to further test the Springer zone. The results of this year’s drilling will be integrated into the block model and the life-of-mine plan for Mount Polley will be updated,” comments president Brian Kynoch.

Edited by Creamer Media Reporter

Comments

 

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024
Resources Watch
Resources Watch
2nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.138s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: