Imperial Metals becomes sole owner of Huckleberry

Imperial Metals Corporation has become the sole owner of the Huckleberry Mine.

Imperial Metals Corporation has become the sole owner of the Huckleberry Mine.

Imperial Metals previously held 50 per cent interest in the mine. The remaining 50 per cent was held by the Japan Group,comprised of Mitsubishi Materials Corporation, Dowa Mining Co. Ltd. and Furukawa Co.

“Our partners expressed an interest in selling and so the options were to own the whole mine ourselves or have a new partner,” explained Steve Robertson, a spokesperson for the Huckleberry Mine. “It made sense to make the purchase which allows Imperial greater flexibility.”

The $2 million transaction is expected to close this month and will result in Imperial Metals holding 100 per cent of the mine’s shares.

“The purchase of the 50 per cent interest in the project is a strong signal to British Columbians that Imperial Metals believes strongly in the future potential of Huckleberry Mine,” added Robertson.

Huckleberry has retained a core group of mine personnel and has kept the mine on “care and maintenance” since September2016, after declining world demand saw copper prices plummet.

Since the mine was placed on care and maintenance, however, copper prices have been slowly increasing. Copper was aboveUS $2.65 in March and April, a considerable improvement from early 2016, when copper was near the US $2 mark.

“We understand that the copper market is cyclical and have faith that at some point we will re-enter a bull market and see sustained higher prices for Copper,” said Robertson. “When that happens, Huckleberry will be a great asset to own.”

Imperial Metals has also been reviewing a number of alternate mine plans that would further enhance Huckleberry’s operating performance and potentially extend the mine life. Recent exploration on the Whiting Creek prospect, located just north of the mine, continues to expand the potential of porphyry mineralization.

“We believe the project has many exploration targets and that additional mineralization could be found with further exploration,” explained Robertson. “It is a well-known adage in our industry that the best place to look for another deposit is beside an existing mine.”

Drilling has also confirmed the potential to expand the mine’s “main zone,” which hosts the probable reserves that are included in the current mine plan.

Huckleberry plans to conduct a comprehensive review of the exploration potential of the entire property.


Just Posted

RCMP officer cleared in Prince George arrest

A suspect’s leg was fractured in 2015 incident

Safe grad 2017 raises $520

SAFE GRAD FUNDRAISER Houston secondary students pump gas and wash windows at… Continue reading

Age and disability friendly sidewalk expansion begins

Construction to expand the sidewalk on the north side of Houston, between… Continue reading

Grand opening of blacklight mini golf

At the Pleasant Valley Plaza on Oct. 7, 2017 at 1 p.m.… Continue reading

Lego challenge by the Houston Public Library

LIBRARY LEGO CHALLENGE The Houston Public Library had a Lego challenge at… Continue reading

VIDEO: ‘Lyle the singing pig’ searching for home

SPCA say the pig is ‘not opera-ready’

Human remains found at Silver Creek property

RCMP have been searching the property in the 2200 block of Salmon River Road for the past three days

Search ramps up for B.C. woman after dog, car found near Ashcroft

Jenny Lynn Larocque’s vehicle and dog were found in Venables Valley, but there is no sign of her

Man in custody linked police search near Salmon Arm

Police have not connected arrest to search at Salmon River Road property

B.C. search groups mobilize for missing mushroom picker

Searchers from across the province look for Frances Brown who has been missing since Oct. 14.

Have you heard about Black Press scholarships?

Up to 37 scholarships are awarded each year to students throughout British Columbia

Search for missing B.C. man a race against winter weather

David Jeff of Williams Lake was last seen in Kamloops during the chaotic wildfire evacuations

Man steals police car, goes for a ‘slow’ ride

Mission RCMP say the motive of the theft is unknown

Dodgers punch ticket to World Series

This will be the first time the Los Angles Dodgers have made it to the World Series since 1988.

Most Read