Mining News: Northern Neighbors: IDM discovers ‘money rock’ at Red Mountain

IDM Mining Ltd. Aug. 24 reported the discovery of a high-grade gold-silver zone at the Lost Valley prospect of its Red Mountain gold project near Stewart, B C. Named Anda‘adala’a Lo’op, or “money rock” in the language of the Nisga First Nation, this zone is part of a series of stacked, high-grade structures overprinting vertical sets of porphyry-style quartz-sulfide veins. “This discovery, which appears to be part of a stacked set is an obvious new drill target at Red Mountain,” said IDM President and CEO Rob McLeod. “Recently exposed from the rapidly melting Cambria icefield, it emphasizes the stellar exploration potential at Red Mountain.” High-grade structures were identified in the Lost Valley area earlier this year. Assays have been received from surface trenching at Anda’adala’a Lo’op, a shallow-dipping structural zone which includes multiple high-grade sulfide quartz veins and faults. Seven lines of channel samples were taken across the vein along a strike length of 33 meters. These samples averaged 18.7 grams per metric ton gold and 61.4 g/t silver over an average width of 0.84 meters, with individual assays of up to 34.6 g/t gold and 183.0 g/t silver. This structure has been traced for 78 meters on surface. The total thickness of the mineralized structure, a potential thrust fault remobilizing mineralization, is not yet known since it is at the base of a cliff with scree covering the outcrop immediately below. IDM said other sparse outcroppings of quartz and sulfide mineralization have been identified at the base of the valley at Lost Valley that may be part of the same structure.

-Shane Lasley