IDM Mining Ltd. (TSX- V:IDM) (OTCQB:IDMMF) is pleased to announce assays for an additional three underground core holes from the SF Zone at the Red Mountain Gold Project located 15 km east of Stewart, B.C. Previous drilling at the SF Zone was widely spaced, with no reserves or resources currently defined.
The SF Zone is interpreted to be a faulted extension of the JW Zone reserves and resources. Drill hole U17-1270 and 1274 were step-outs approximately 25 meters from previously reported hole U17-1248, which intersected 7.50 meters averaging 4.93 g/t Au and 23.54 g/t Ag, within a broad interval of 37.00 meters averaging 1.74 g/t Au and 16.80 g/t Ag. Drill hole U17-1274 intersected 8.0 meters averaging 12.28 g/t Au and 27.07 g/t Ag; mineralization is associated with a brecciated contact between intrusive and sedimentary rocks, associated with strong alteration and pyrite mineralization, surrounded by a sphalerite-rich halo (zinc sulphide). This mineralization style is typical of current reserves defined at Red Mountain. In drill hole U17-1270, the target horizon appears to be offset by a minor fault zone.
“Drill hole U17-1274 is an important intercept in the SF Zone, located a significant distance to the north of current reserves; additional drilling during 2017 will continue to prioritize and target this prospective area,” said Robert McLeod, President and CEO of IDM Mining. “Ongoing underground drilling is also stepping out both up and down-dip of the Marc, NK, AV and JW Zones, with surface drilling targeting strike extensions to the 141 and Marc Zones.”
Mineralization at Red Mountain is commonly gently folded, with local structural thickening; mineralization occurs in multiple blocks separated by strike-slip faults, with approximate 50 – 75 meters vertical displacement. Wide spaced drilling in the SF Zone, with local tight-spaced drilling near high-grade intercepts is the approach to understand the orientation and extent of mineralized zones and controlling host rocks. Drill hole U17-1279 intersected 1.0 meter of 7.98 g/t Au and 11.75 g/t Ag; follow-up drilling will target certain capping phases of intrusive rocks that result in significant thickening of mineralization, as observed at the JW and AV Zones to the south.
Complete results are as follows:
|Hole-ID||Section||From (m)||To (m)||Length (m)*||Au (g/t)||Ag (g/t)|
*Due to wide spaced drilling, true thickness is not known
Drill hole collar information and location maps, core photos along with plan views, cross-sections and longitudinal sections can be viewed at www.idmmining.com.
About Red Mountain
The 17,125 hectare Red Mountain Gold Project is located in northwestern BC, 15 km northeast of the Town of Stewart. IDM recently announced the results of a Feasibility Study for a high-grade, underground gold mine, which includes primarily bulk underground mining methods and the production of gold doré on site. The Project is advancing through the provincial and federal environmental assessment processes, with comprehensive, thorough, and ongoing consultation with Nisga’a Nation. The Company recently submitted its Project Application and Environmental Impact Statement to regulators and stakeholders.
Red Mountain is a porphyry-related hydrothermal gold system, located in the Stikine terrain. Gold mineralization is associated with, and partially hosted within an early to mid-Jurassic multi-phase intrusive complex, with associated volcanic and volcaniclastic rocks and sediments. Many gold mineralized zones occur on the property, including five mineralized zones with established resource estimates. The mineralized zones have been folded, and are often separated by dip-slip fault zones. Mineralization can vary in orientation from shallow to steeply dipping and are generally tabular. The Marc, AV and JW Zones range in widths from one to forty meters, averaging about sixteen meters in thickness. Gold and silver mineralization is associated with stockworks, disseminations and patches of coarse grained pyrite, surrounded by a pyrrhotite/sphalerite halo. Alteration facies includes strong quartz-sericite alteration.
QA/QC AND QUALIFIED PERSON
Samples for the 2017 exploration program are cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to ALS Labs Ltd. in Terrace, BC for sample preparation, with pulps subsequently shipped to Vancouver, BC for gold and multi-element ICP analysis. A Quality Control/Quality Assurance program, including the insertion of Standards and Blanks, has been implemented. The 2017 exploration program at Red Mountain is performed under the supervision of Rob McLeod, P.Geo, President and CEO of IDM Mining Ltd. and a ‘Qualified Person’ under NI 43-101. Mr. McLeod has reviewed and approved the technical content of this release.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is a mineral exploration and development company based in Vancouver, BC, Canada. The Company’s current exploration and development activities are focused on precious metals in British Columbia, with a primary focus on the high grade underground Red Mountain gold project.
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