Ruddock Creek Zinc-Lead Mine Development Project

Imperial Metals has proposed a zinc-lead mine which would include process facilities, mill, tailings area and access roads. Estimated production rate of 700,000 tonnes/year over a 10-15 year mine life. The project is currently in the pre-application phase under the Environmental Assessment Act.


About This Project

Ruddock Creek is located between the headwaters of Ruddock Creek and Oliver Creek in the Scrip Range of the Monashee Mountains in southeast British Columbia, approximately 155 kilometres northeast of Kamloops, 28 kilometres east of Avola, and 6.5 kilomtres west of Gordon Horne Peak. The Ruddock Creek property is comprised of 23 cell claims containing an aggregate of 554 cells, which are in good standing until 2022 and covering a gross area of 11,047.2 hectares. The claims are located primarily in the Kamloops Mining Division although a small portion of the Ruddock Creek property extends eastward into the Revelstoke Mining Division.

Imperial's joint venture partners, Mitsui Mining and Smelting Co. Ltd. and Itochu Corporation, have earned a 35% interest in the Ruddock Creek property by funding $14.0 million in exploration expenditures, and will earn an additional 15% working interest by funding a further $6.0 million in expenditures by March 31, 2013. At that time, the Ruddock Creek property will be held Imperial 50%, Mitsui 30% and Itochu 20%. Imperial will continue to operate the project through its wholly-owned subsidiary Selkirk Metals Corp.

In 2011, underground drilling was conducted on the Lower E zone, and four surface diamond drills were employed to complete surface drilling of the Creek, V, and Q zones. At the 2011 year end, 27,496 metres of surface drilling and 19,579 metres of underground drilling have been completed on the E zone, along with 1,291 metres of decline and 180 metres of incline driven for underground exploration purposes. The surface diamond drill program further defined the Creek zone, and tested the V and Q zones, which are located at the western end of the Ruddock Creek Sulphide horizon. The program consisted of 17 drill holes totalling 5,701 metres in the Creek zone, 8 drill holes totalling 3,147 metres in the V zone, and 5 drill holes totalling 1,893 metres in the Q zone.

Exploration continued throughout 2012 in an effort to expand the Lower E zone using underground diamond drills and the existing workings and drill bays. A bulk sample for metallurgical testing was excavated from the Lower E zone during the 2012 underground program as well. Surface drilling continues to expand the Creek zone west and south. A helicopter supported drill program was designed to continue to explore and follow up on the highly successful 2011 drill program in the V zone area, located 3 kilometres west of the E zone outcrop.

The updated Ruddock Creek mineral resource in the is provided in the Technical Report Ruddock Creek Lead-Zinc Project - Kamloops Mining Division, British Columbia dated March 1, 2012. The Ruddock Creek resource increased to an Indicated Resource of 4.654 million tonnes and an Inferred Resource of 5.382 million tonnes at a 4.0% Pb+Zn cutoff. This represents an Indicated Resource tonnage increase of 99% and an Inferred Resource increase of 261% from the 43-101 compliant resource released in July 2009. The combined Indicated Resource contains 695.0 million pounds zinc and 142.0 million pounds lead. An additional 794.0 million pounds zinc and 155.0 million pounds lead are contained in the combined Inferred Resource category at a 4.0% Pb+Zn cut-off.

The results from the 2012 exploration program have continued to enhance the project and increase the potential not only in the better defined E and Creek zones but perhaps, more importantly, in the V zone, one of many targets along the western extension of the Ruddock Creek Sulphide Horizon. In addition to exploration conducted on site, the 2012 Ruddock Creek program included a Preliminary Economic Analysis (PEA). The results from this year’s exploration have been incorporated in the existing database and the PEA. The study, which also included an update of the resource for the Property, will provide the basis for planning ongoing exploration and development.

More Information Online

For more information on this project, visit:
http://www.imperialmetals.com/s/RuddockCreek_new.asp

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