IDM Mining Announces Key Milestone in the Environmental Assessment of the Red Mountain Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 29, 2016) - IDM Mining Ltd. (TSX VENTURE:IDM) ("IDM" or the "Company") is pleased to announce that the 30-day public consultation period will commence shortly for the Red Mountain Underground Project (the "Project") draft Application Information Requirements (dAIR) document. The public comment period, managed by the BC Environmental Assessment Office (EAO), will run from October 5, 2016, to November 4, 2016, with an EAO-led public open house in Stewart on October 12, 2016. IDM will host two additional open houses in the Nisga'a communities of Gitwinksihlkw on October 13, 2016, and Gitlaxt'aamiks October 19, 2016.
"Entering into the dAIR public consultation period is an important step in the environmental assessment of the Project," said Michael McPhie, Executive Chairman of IDM. "The EA process and regulatory review timeline remains on track for the Company, and we look forward to engaging with local and regional stakeholders in the coming weeks."
EAO has issued a formal notice of the public open house and opportunity to comment, and IDM has made this notice available to community members through publication in newspapers, as well as hardcopy and online distribution through community bulletin boards, websites, and social media.
Status of the Environmental Assessment and Engineering of Red Mountain
In addition to the Project's progress through the EA, the Company is in the process of completing more than two and a half years of environmental baseline studies that will form the foundation of the work that will be documented in the subsequent environmental assessment of the project by both BC and Canada. A Project Application report will be filed with both the BC EAO and the Canadian Environmental Assessment Agency (CEAA) in early 2017 that will meet all of the requirements of the BC and Canadian Environmental Assessment Act's.
The EA and permitting work at Red Mountain is being led by Falkirk Resource Consultants Ltd. and supported by a team of highly regarded consultants and specialists with specific knowledge and experience in all the key technical issues and environmental, socio-economic, health and cultural considerations associated with the project and the region.
Feasibility level engineering of the Project is also well underway, under the direction of JDS Energy and Mining Ltd. with support from several technical and specialist consulting engineering groups. This feasibility work includes all aspects of mine design, water and waste management, transportation, logistics, milling and processing, labor needs, scheduling, and financial analysis. A bankable level Feasibility Study (BFS) of the Project is scheduled for completion in early 2017. The BFS will also inform the content of the Application/EIS being prepared by IDM.
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 and Yukon, with a primary focus on the high grade underground Red Mountain Underground Gold Project which has entered the BC and Canadian environmental assessment processes. Further information can be found on the Company's website at www.IDMmining.com and on the Project's website at www.RedMountainProject.com.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the proposed exploration and development activities, and their timing, resource estimates and potential mineralization, completion of the EA Application and bankable level feasibility study. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere in this release, timing and success of future exploration and development activities, exploration and development risks, delays in obtaining or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing other development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of future exploration and development activities, exploration and development risks, mineral resources are not as estimated, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: required regulatory approval, permits and financing will be obtained; the proposed exploration and development will proceed as planned; with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated, and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, and market fundamentals will result in sustained metals and minerals prices. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Contact
IDM Mining Ltd.
Robert McLeod
604-681-5672 direct
604-617-0616 cell
rm@idmmining.com
IDM Mining Ltd.
Investors Relations
Shobana Thaya
416-807-1009
st@idmmining.com
IDM Mining Ltd.
Investors Relations
Alex Horsley
604-618-3058
ah@idmmining.com
www.IDMmining.com