Feb 17 2016
IDM Mining Ltd. ("IDM" or the "Company") reports that it has received its Section 11 Order for the Red Mountain Underground Gold Project (the "Project") from the British Columbia Environmental Assessment Office ("BC EAO"), setting out the scope, requirements, processes, and methods of the provincial environmental assessment ("EA"), as well as the public and Aboriginal consultation procedures.
"Receipt of the Section 11 Order represents a significant permitting milestone for the Project," said Michael McPhie, Executive Chairman of IDM Mining. "The next major milestone will be the submission of Environmental Assessment Applications for review by the federal and provincial regulatory authorities later this year. We have been pleased with the continued co-operation and involvement of all stakeholders, including: the Nisga'a Lisims Government, the community of Stewart, and the provincial and federal government agencies, who will be involved in assessing the potential environmental effects of the Project. With their input and advice, the EA process is moving forward in an efficient and timely manner."
The planned two year environmental baseline program in support of the EA process is nearing completion. Baseline studies conducted to date have included: surface and groundwater quality, hydrology, climate, geochemical studies, archeological assessments, geohazards assessments, fisheries and wildlife studies. Following the completion of our 2016 spring and early summer sampling and monitoring program, the baseline environmental studies will be sufficient to meet provincial and federal EA guidelines, and the data will be incorporated into the provincial and federal EA Applications.
Project engineering studies, including tailings and water management design, are progressing in conjunction with the EA process, with an aim to publish a Feasibility Study by the end of 2016. Additionally, the Company is updating the Project's NI 43-101 Resource Estimate and Preliminary Economic Assessment (PEA), which will include IDM's 2014 drilling and historic drill results from the 141 Zone; this area of mineralization runs parallel to the current resource zones. The revised PEA is targeted for release in the second quarter of 2016, and will also include updated project design and site layout concepts, a new economic model, and a detailed development timeline.
ABOUT RED MOUNTAIN
IDM Mining is currently earning an option to acquire a 100% interest in the 17,125 hectare Red Mountain property, located 18 kilometers northeast of Stewart, BC. Numerous gold and silver deposits and exploration prospects have been identified by IDM and previous operators over a 15 km by 4 km trend of strong alteration and mineralized prospects. Since discovery in 1989, in excess of $45 million has been spent on the Project including a production-sized underground ramp, extensive engineering and design studies and environmental assessment work.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is a mineral exploration and development company based in Vancouver, BC, Canada. The Company's current exploration and development activities are focused on precious metals in British Columbia and Yukon with a primary focus on the high grade underground Red Mountain Project, which is currently engaged in the BC and Canadian environmental assessment processes. Further information can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
Source: http://www.idmmining.com/