Mining News: Northern Neighbors: IDM adds gold to Red Mountain ahead of FS

IDM Mining Ltd. Jan. 23 posted an updated resource estimate for its Red Mountain project in northwestern British Columbia that includes the results from 2016 drilling that expanded mineralization at this gold-silver project a few miles northeast of Stewart. Red Mountain now hosts 2.07 million metric tons of measured and indicated resource averaging 8.75 grams per metric ton (583,700 ounces) gold and 25 g/t (1.66 million oz) silver. This marks a 32 percent increase in gold compared to a resource calculated last April. IDM President and CEO Rob McLeod said,“Future underground drilling from the production-sized decline will continue to step-out in all directions, including targeting the northern extension of the mineralized trend, which can be traced a further 800 meters to the north of the current resources.” IDM said the updated resource has been provided to the Red Mountain feasibility study team, which is being led JDS Energy and Mining, to be incorporated into a revised and expanded mine design. The feasibility study is slated for completion this spring.

-Shane Lasley