VANCOUVER, Aug. 29, 2018 /CNW/ - IDM Mining Ltd.
(TSX.V:IDM) (OTCQB:IDMMF) ("IDM" or the "Company") is pleased to
announce that the British Columbia Environmental Assessment Office
("EAO") has completed the Application Review phase for the proposed
Red Mountain Gold Project ("Red Mountain" or the "Project").
The EAO has referred the Company's Application for an
Environmental Assessment Certificate ("EAC") to the Minister of
Environment and Climate Change Strategy and the Minister of Energy,
Mines and Petroleum Resources for a decision. In accordance with
the Environmental Assessment Act, Ministers have up to 45 days to
decide whether to issue a certificate, not issue a certificate, or
require further assessment. Referral materials and the Ministers'
decision will be posted on the EAO website within the next 45
days.
In 2017, IDM submitted the Application for an underground gold
mine at Red Mountain, mill and tailings site in the adjacent Bitter
Creek Valley, water treatment facilities, access road from Highway
37 just north of Stewart, BC and
powerline interconnection from BC Hydro grid. The Application
Review phase included environmental and socioeconomic reviews with
dozens of technical working group members and stakeholders, with
respectful and thorough consultation with the Nisga'a Nation.
"We are very pleased that we have been able to resolve all
key issues relating to the environmental assessment of the Red
Mountain Project" said Michael
McPhie, Chair of IDM's Board of Directors. "We are
confident that a positive decision from the Ministers will be made
in the near-term and look forward to moving ahead with the
development of the Project."
"Our vision for BC's next high-grade bulk underground gold
mine is another step closer. We believe that the proposed
low-footprint Red Mountain operation will have obvious benefits to
my hometown of Stewart, to Nisga'a
citizens and to residents throughout northwestern BC," said
Robert McLeod, President and CEO of
IDM Mining. "We look forward to continuing to increase
resources and making new discoveries at Red Mountain, as well as
completing the updated feasibility study incorporating value
engineering improvements from the 2017 study and the increased
measured and indicated resources from the June 2018 resource estimate."
Provincial Environmental Assessment Certificate
The Project commenced the 180-day legislated application review
period under the British Columbia
Environmental Assessment Act on November 1, 2017. IDM received and
responded to review comments from the technical working group
co-led by the EAO and the Canadian Environmental Assessment Agency
("CEA Agency"), which included the participation of Nisga'a Nation
(as represented by Nisga'a Lisims Government) and regulatory
agencies. IDM also responded to feedback from community
members and stakeholders during the public consultation period
(Nov 14 to Dec 14, 2017).
On March 12, 2018, IDM requested a
temporary suspension of the application review period and it was
granted by the EAO the following day to allow for final resolution
of several outstanding technical comments and information
requests.
The temporary suspension was lifted on July 13, 2018 and at that time the Project was on
day 137. The application review period finished on
August 28, 2018 and the Application
has been referred to the Minister of Environment & Climate
Change Strategy and the Minister of Energy, Mines & Petroleum
Resources for an EAC decision. The Minister's have 45 days to
complete their review and render a decision on the Project.
Information pertaining to the Provincial Environmental
Assessment for the Red Mountain Underground Gold Project can be
viewed on the BC Environmental Assessment Office website at
https://projects.eao.gov.bc.ca/p/red-mountain-underground-gold/detail.
Canadian Environmental Assessment Act Review
The Project is also subject to a coordinated review by the CEA
Agency under the Canadian Environmental Assessment Act, 2012
(CEAA 2012). On December 22,
2017, IDM received supplementary information requests on the
EIS, pausing the federal timeline on day 122 of the federal
legislated timeline of up to 365 days. On May 17, 2018 IDM was informed by the CEA Agency
that all supplementary information requests had been satisfied and
the federal environmental assessment review process was
resumed. The federal review timeline is currently at day 225
of 365.
With the provincial environmental assessment now nearing
completion and the federal environmental assessment now advancing
forward in a straightforward and predictable manner, IDM
anticipates receiving federal approval in late 2018 or early
2019.
Information pertaining to the Federal Environmental Assessment
for the Red Mountain Underground Gold Project can be viewed on the
Canadian Environmental Assessment Agencies website at
https://www.ceaa-acee.gc.ca/050/evaluations/proj/80093.
About IDM and Red Mountain
IDM Mining Ltd. is an exploration and development company based
in Vancouver, BC, Canada focused on advancing the Red Mountain
Gold Project towards production. The 17,125 hectare Red
Mountain Gold Project is located in northwestern BC, 15 km
northeast of the mining town of Stewart. IDM recently
announced increased high-grade, near-surface measured and indicated
resources. Located near a paved highway and grid power, IDM
envisions bulk underground mining methods at the Project, with
gold-silver doré produced on site.
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. 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.
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SOURCE IDM Mining Ltd.
