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IDM Mining Ltd.
Summary
| Project: | Red Mountain | |
|---|---|---|
| Deposit: | Red Mountain | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 6/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 26-6-2017: IDM Mining Ltd. announces a Feasibility Study report for its Red Mountain deposit at the Red Mountain project. Feasibility study results incl. Pre-tax NPV (5%) of C$155M, IRR of 40%. IDM Mining Ltd. (IDM or IDM Mining) commissioned JDS Energy & | |
| Resources: | (Reserve, P+P): 1953kt @ 7.53g/t Au, 21.86g/t Ag for 473koz Au, 1373koz Ag contained at project | |
| CP/QP: | [Resources]: Gilles Arseneau (Arseneau Consulting Services Ltd.) | |
| ABSTRACT: | IDM Mining Ltd. (IDM or IDM Mining) commissioned JDS Energy & Mining Inc. (JDS) to complete a feasibility study (FS) for the Red Mountain Gold Project (Red Mountain or Project) located in northwestern British Columbia near the town of Stewart. The purpose of this study is to update and define the project to a FS level and to declare a mineral reserve estimate. This technical report contains a summary of the FS results. JDS conducted a preliminary economic assessment on the project in 2016 and produced a technical report with an effective date of July 12, 2016 titled “NI 43-101 Preliminary Economic Assessment (PEA) for The Red Mountain Project, British Columbia, Canada” (JDS 2016). The main changes in this FS from the JDS 2016 PEA study are: • Updated mineral resource estimate – conducted by Gilles Arseneau of ARSENEAU Consulting Services (ACS), which was based on additional drill results and subsequent reinterpretation which changed the overall mineral resources estimates as per Table 1-1. The Red Mountain gold property is situated in northwestern British Columbia approximately 18 kilometers (km) east-northeast of Stewart (Figure 1-1). The Project is located west of the Cambria Ice Field and north of the Bromley Glacier at elevations ranging between 500 and 2,000 metres (m). On NTS map sheets 103P/13 and 104A/4, the property is centred at 55º59’4”N, 129º45’37”W. The UTM coordinates are 452,450 mE, 6,250,325 mN in Zone 9 (NAD 83). The area is characterized by rugged, steep terrain with weather conditions typical of the north coastal mountains including significant (+2 m) snow accumulation in the winter. Access to the site is presently by helicopter from Stewart with a flight time of 10 to 15 minutes. A historical road extends for approximately 13 km along Bitter Creek Valley but stops approximately 7 km from the proposed mine site. The Red Mountain gold property consists of 47 contiguous mineral claims totalling 17,125 hectares (ha). The mineable deposits are located roughly in the middle of the mineral claims. No significant risks are identified which would affect access, title, or the right or ability to perform work on the property. | |
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