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IDM Mining Ltd.
Summary
| Project: | Red Mountain | |
|---|---|---|
| Deposit: | Marc Zone | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 8/16/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-8-2016: IDM Mining Ltd. announces an Exploration/Drilling Update report for its Marc Zone deposit at the Red Mountain project. Drilling results incl. 20.35m @ 9.99g/t Au, 51.65g/t Ag from 40m (uncapped). August 16, 2016, Vancouver, BC – IDM Mining Ltd. | |
| Resources: | (Resource, M+I): 1.642Mt @ 8.36g/t Au, 26g/t Ag at Red Mountain project | |
| CP/QP: | [Overall Report]: Rob McLeod (Internal) | |
| ABSTRACT: | August 16, 2016, Vancouver, BC – IDM Mining Ltd. (TSX.V:IDM) (“IDM” or the “Company”) is pleased to announce assays from the first four underground core holes completed at the Red Mountain gold project, located east of Stewart, B.C. These results are the first from the Phase I drilling program, which includes infill and step-out drilling from the current resource, as well as to collect material for metallurgical, geotechnical and hydrological testwork. “These results confirm the robust widths and gold grades of the Marc Zone,” said Robert McLeod, President and CEO of IDM Mining. “Of particular significance is drill hole U16-1182, which is a step-out hole to the south of the current resource. The deposit was previously interpreted to be closed to the south; this intercept suggests that it is open to expansion under the existing production-sized decline.” Drill hole U16-1182 is located on mine grid section 1075N, at the limit of the Marc Zone resource. Two additional holes, drilled as shallower dips, were completed from this section with assays currently pending. Massive and stockwork pyrite veins associated with the gold mineralization were encountered where the Marc Zone may have rolled to steep easterly dip, or may have been offset by a minor fault zone to approximately 30 meters below the underground ramp. Additional drilling during 2016 will step-out to the south from this intercept. | |
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