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IDM prioritizes large Yukon gold portfolio

 

Last updated 5/29/2016 at Noon



IDM Mining Ltd. May 18 said an initial review of historical exploration data has identified targets in three priority areas of the 14,500 Yukon Territory mining claims it acquired from Oban Mining in January.

Data gathered by Ryan Gold, as well as other historical holders of the claims, includes results from more than 158,000 soil samples, airborne geophysical surveys, reconnaissance mapping and sampling, and more than 10,000 meters of drilling.

Review of this data has identified more than a dozen broad soil geochemical anomalies in addition to numerous other areas of interest defined by geophysical and geological criteria.

Multiple mineralization styles have been identified, including intrusive-related, skarn, sediment-hosted and orogenic gold systems.

Throughout IDM's Yukon portfolio, multiple gold and pathfinder element anomalies were identified without any of the follow-up through drilling and trenching that can elevate an anomaly to a discovery.

"The anomalies identified by previous operators are very compelling and warrant drilling to make a discovery," said IDM Mining CEO Robert McLeod.

"As VP Exploration at Underworld Resources, my team and I drilled the Golden Saddle discovery, which was a greater than 40 ppb (parts per billion) gold-in-soil anomaly.

IDM's Yukon portfolio has multiple, large gold targets that are as attractive as Golden Saddle when it was just a soil anomaly." The highest priority properties identified by IDM include: Pluto, a large land package in southwestern Yukon that hosts multiple gold-in-soil anomalies, including the 1900- by 400-meter east anomaly that averages 234 ppb gold and ranges from trace to 15,342 ppb gold; Mahtin, a property that lies 50 kilometers (30 miles) north of Mayo with intrusive-related gold potential; Golden-Oly, a property in eastern Yukon with widespread gold and arsenic soil anomalies suggestive of an intrusive-related or sediment hosted gold system; and PDM, another eastern Yukon property with similarities to Golden-Oly.

Focused on its flagship Red Mountain gold property in British Columbia, IDM is considering options for its Yukon portfolio.

The company says the holding costs for the Yukon properties are low so it could leave them on care and maintenance.

Other options being considered include exploring them independently; entering joint ventures; spinning them out into a Yukon-focused exploration company; or selling them entirely.

 

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