IDM keeps expendaning their mineral resourcesFor their future mine but with grades not that very different from TC...
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Hole CB-16-03 returned two higher-grade intervals: the first, 54 metres from 88 to 142 m grading 1.117 grams per tonne gold; "
IDM Mining drills 54 m of 1.29 g/t Au at Red Mountain
2016-11-17 09:21 ET - News Release
Mr. Robert McLeod reports
IDM MINING EXPLORATION DRILLING INTERSECTS GOLD-SILVER MINERALIZATION AT LOST VALLEY, EXTENDS 141 ZONE AT RED MOUNTAIN
IDM Mining Ltd. has released assays from 11 core holes drilled from surface at the Red Mountain gold project, located 15 kilometres east of Stewart, B.C. Underground infill and resource expansion drilling was recently completed for the 2016 season, with assays to be announced in the coming weeks.
Highlights from the recent drill results include:
- MC16-06: 54.0 metres averaging 1.29 grams per tonne gold, including seven metres averaging 4.62 g/t Au from the 141 zone;
- MC16-10: 87.50 metres averaging 1.03 g/t Au, including 9.93 metres averaging 3.96 g/t Au from the 141 zone;
- BR16-07: 1.50 metres averaging 4.77 g/t Au from the Brad zone;
- LV16-02: 1.2 metres averaging 4.63 g/t Au and 90.90 g/t Ag from the Money Rock zone from Lost Valley.
Lost Valley
Five short drill holes were completed at Lost Valley, targeting two new mineralized structures identified in 2016, the Money Rock and Randell veins. Three holes from a single drill pad were completed at the Money Rock zone, where channel sampling averaged 18.7 g/t Au and 61.4 g/t Ag over 0.84 metre along a 33-metre-long trench. Drill hole LV16-01 intersected one metre of three g/t Au and 23.80 g/t silver, and LV16-02 intersected 1.2 metres averaging 4.63 g/t Au and 90.90 g/t Ag. All three holes intersected a postmineralization dike where the zone projected from a surface trench. Drill holes LV16-05 and 06 were vertical holes targeting the Randell vein, where a hand trench within subcrop of quartz and sulphide averaged 22.4 g/t Au and 81.7 g/t Ag over a continued 9.25-metre-long channel. Both holes were vertical, and did not intersect the target structure. This suggests that the target structure may be steeply dipping to vertical.
This is the initial drill program at Lost Valley, where numerous veins and structures hosting high-grade and silver, overprinting a molybdenite-rich porphyry. Widespread, high-grade gold mineralization has been identified from surface sampling in 2016 and in previous years. Of 589 samples collected at Lost Valley (including: grab, channel and subcrop samples), 96 samples returned over five g/t Au. These 96 samples range from 5.18 to 165 g/t Au, averaging 31.8 g/t Au and 139.9 g/t Ag. These samples were collected over an approximate 1,200-by-1,500-metre area.
Results to date warrant additional surface drill holes during the 2017 field season to test the multiple prospects at Lost Valley.
141 zone
Located 250 metres southwest of the Marc/AV/JW resource area, the 141 zone currently hosts an indicated resource of 158,400 tonnes averaging 4.82 g/t Au for 24,500 ounces Au, plus an additional inferred resource of 55,000 tonnes averaging 5.12 g/t Au for 10,700 ounces Au (see IDM Mining news release April 2, 2016). During 2016, five surface drill holes were completed with the objective of expanding resources in the 141 zone.
Mineralization in this area is typified by wide 50-to-plus-100-metre sections of disseminated gold mineralization, hosting tabular zones of greater than three g/t Au mineralization. Drill holes MC16-06 and 07 were step-out holes to the north of the 141 zone resource, with hole MC16-06 intersecting 4.62 g/t Au over seven metres, within a wider interval of 1.29 g/t Au over 54.0 metres. Drill hole MC16-08 was the southernmost hole completed to date at the 141 zone, intersecting 4.72 g/t Au over four metres within a wide interval of 0.88 g/t Au over 145.50 metres. MC16-09 and 10 were step-outs to the west, with hole MC16-10 intersecting 3.96 g/t Au over 9.93 metres.
The 141 zone exhibits a similar style of gold mineralization to the Marc/AV/JW zones, associated with veins of massive pyrite. It is open for expansion to the west, north and south. Mineralization is interpreted to outcrop on both the southeast side of Red Mountain, and to the northwest in the Rio Blanco area, which has not been drill tested, for a two km strike potential. Potential development at Red Mountain would include an access ramp that would cut underneath the 141 zone facilitating resource expansion and delineation drilling using underground drilling.
COMPLETE RESULTS From To Length Au Ag Hole ID (m) (m) (m) (g/t) (g/t) MC16-06 165.00 166.50 1.50 5.60 8.40 216.00 270.00 54.00 1.29 1.31 including 216.00 223.00 7.00 4.62 1.02 including 222.00 223.00 1.00 21.50 2.33 MC16-07 163.15 254.00 90.85 0.78 0.63 including 221.84 249.24 27.40 1.56 0.66 MC16-08 30.50 176.00 145.50 0.88 1.37 including 104.50 108.57 4.07 4.72 2.84 and 120.29 127.07 6.78 3.65 4.16 MC16-09 41.95 150.50 108.55 0.88 1.26 MC16-10 113.50 201.00 87.50 1.03 1.58 including 152.57 162.50 9.93 3.96 8.32 including 153.54 154.54 1.00 16.50 53.00 BR16-07 40.50 42.00 1.50 4.77 1.33 LV16-01 57.00 58.00 1.00 2.30 23.80 LV16-02 17.00 18.20 1.20 4.63 90.90 LV16-03 13.80 15.00 1.20 0.97 7.09 LV16-04 no significant intercepts LV16-05 81.69 82.48 0.79 4.03 6.18 Note (i) True widths estimated to be between 80 and 100 per cent of drilled length.
Brad zone
The Brad zone is located 300 metres south of the Marc zone discovery outcrop, and was last drill tested in 1989 with six drill holes completed by Bond Gold. Pyrite mineralization with local visible gold is associated with strong silicification and chlorite alteration. Historic intercepts included 1.5 metres averaging 7.22 g/t Au and 1.5 metres averaging 6.11 g/t Au. This historic core has not been located, and a single hole was completed by IDM at this target. Drill hole BR16-07 intersected 1.5 metres of 4.77 g/t Au associated with strong silicification.
Drill hole collar information and location maps can be viewed at the company's website.
About Red Mountain
The 17,125-hectare Red Mountain gold project is located in northwestern British Columbia, 15 km northeast of the town of Stewart. IDM is advancing a feasibility study for a high-grade underground gold mine, which envisions primarily bulk underground mining methods. Additionally, the project is advancing through the provincial and federal environmental assessment process, with continuing consultation with the Nisga'a First Nations government.
On April 4, 2016, the company announced an updated mineral resource estimate reported at three g/t Au cut-off for the Red Mountain gold project.
Au Ag Au Ag Classification Tonnage (g/t) (g/t) (ounces) (ounces) Measured 847,200 9.38 34 255,400 920,700 Indicated 794,600 7.29 18 186,100 459,100 Measured and indicated 1,641,800 8.36 26 441,500 1,379,800 Inferred 548,100 6.10 9 107,500 153,700
Red Mountain is a porphyry-related hydrothermal gold system, located in the Stikine terrain. Gold mineralization is associated with, and partially hosted within, an early to mid-Jurassic multiphase intrusive complex, with associated volcanic and volcaniclastic rocks and sediments. Many gold-mineralized zones occur on the property, including five mineralized zones with established resource estimates. The five mineralized zones (Marc, AV, JW, 141 and 132) have been folded, and are often separated by dip-slip fault zones. The mineralized zones vary in orientation from shallow to steeply dipping and are generally tabular. The Marc, AV and JW zones vary in widths from one to 40 metres, averaging about 15 metres in thickness. Gold and silver mineralization is associated with stockworks, disseminations and patches of coarse-grained pyrite, surrounded by a pyrrhotite/sphalerite halo. Alteration facies includes strong quartz-sericite alteration.
Additional information, including the company's NI 43-101 technical reports for the Red Mountain gold project, is available at the company's website and on SEDAR.
Quality assurance/quality control and qualified person
Samples for the 2016 exploration program are cut with a diamond saw, and placed in sealed bags and shipped to ALS Labs Ltd. in Terrace, B.C., for sample preparation, with pulps subsequently shipped to Vancouver, B.C., for gold and multielement inductively coupled polarization analysis. A quality control/quality assurance program, including the insertion of standards and blanks, has been implemented. The 2016 exploration program is performed under the supervision of Rob McLeod, PGeo, president and chief executive officer of IDM Mining and a qualified person under NI 43-101. Mr. McLeod has reviewed and approved the technical content of this release.
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