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IDM Mining Ltd.
Summary
| Project: | Red Mountain | |
|---|---|---|
| Deposit: | Red Mountain | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 11/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-11-2016: IDM Mining Ltd. announces an Exploration/Drilling Update report for its Red Mountain deposit at the Red Mountain project. Drilling results incl. 145.50m @ 0.88g/t Au, 1.37g/t Ag from 30.50m. November 17th, 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: | November 17th, 2016, Vancouver, BC – IDM Mining Ltd. (TSX.V:IDM) (“IDM” or the “Company”) is pleased to announce assays from 11 core holes drilled from surface at the Red Mountain gold project (“Red Mountain” or the “Project”), located 15 km east of Stewart, BC. Underground infill and resource expansion drilling was recently completed for the 2016 season, with assays to be announced in the coming weeks. 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 meters along a 33 meter long trench. Drill hole LV16-01 intersected 1.0 meter of 3.0 g/t au and 23.80 g/t Ag, and LV16-02 intersected 1.2 meters averaging 4.63 g/t Au and 90.90 g/t Ag. All three holes intersected a post-mineralization dyke 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 meter 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 highgrade 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 5.0 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 meter area. Results to date warrant additional surface drill holes during the 2017 field season to test the multiple prospects at Lost Valley. | |
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