IDM Mining seeks more Red Mountain gold


Last updated 10/26/2018 at 5:10am

Gold silver mine project near Stewart Golden Triangle British Columbia

IDM Mining Ltd.

IDM Mining seeks to expand the gold-silver resource at Red Mountain with an underground drill program currently underway.

IDM Mining Ltd. Oct. 16 announced that it has two underground drills turning at the company's Red Mountain gold mine project near Stewart, British Columbia.

According to June calculation, Red Mountain hosts 2.77 million metric tons of measured and indicated resource averaging 7.91 grams per metric ton (704,600 ounces) gold and 22.75 g/t (2.77 million oz) silver.

In addition, the underground mine project hosts 316,000 metric tons of inferred resource averaging 6.04 g/t (61,400 oz) gold and 7.6 g/t (77,200 oz) silver. This marks a roughly 5 percent decrease in this category, as most of the inferred resources in three planned mining zones – Marc, AV and JW – were upgraded to the higher confidence measured and indicated category. Roughly 82 percent of the current inferred resources are found in new zones – Smit, SF, Bray, Chicka and Cambria Zones – indicating the potential for future expansion at Red Mountain.

A roughly 7,600-meter (30 holes) drill program currently underway will primarily test four areas – a near-surface area between the Marc and 141 zones; northern and western extensions to the Smit and JW zones; a projected high-grade connection between the Smit and 141 zones; and the northern and eastern extensions to the SF zone. Additionally, drilling will target conversion of inferred resources to measured and indicated classification, primarily within the Smit and SF zones.

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Last week, IDM Mining was issued the provincial environmental assessment certificate for developing an underground mine at Red Mountain and is anticipating a federal decision on its proposed operation in late 2018 or early 2019.

"With our EA certificate recently received from B.C.'s provincial government, we are excited to be back drilling at Red Mountain, particularly to target areas identified by our geological team's new interpretation of untested high-amplitude fold closures and limbs," said IDM Mining President and CEO Rob McLeod. "Each drilling program to date has systematically added high-grade measured and indicated resources that are amenable to underground bulk-mining methods."

IDM Mining anticipates the current drilling should be completed by early December.



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