VANCOUVER, Oct. 9, 2018 /CNW/ - IDM Mining
Ltd. (TSX.V:IDM) (OTCQB:IDMMF) ("IDM" or the
"Company") announces that on Friday
October 5th, 2018 British Columbia Provincial
Government Ministers: George Heyman,
Minister of Environment and Climate Change Strategy and
Michelle Mungall, Minister of
Energy, Mines and Petroleum Resources issued an environmental
assessment ("EA") certificate to the Company for the Red Mountain
Underground Gold Project ("Red Mountain" or the
"Project").
The Company proposes a year-round, high-grade underground
gold-silver operation using bulk mining methods, primarily longhole
stoping. Mineralized material will be trucked to a mill
located within the adjacent Bitter Creek Valley, producing
gold-silver doré bars. Tailings will be stored within a lined
storage facility, with water treated prior to
discharge. Mining crews will be locally based with road and
power access via Highway 37A and the BC Hydro grid, located just
north of Stewart, BC.
In addition to the 38 conditions that are part of the Red
Mountain EA certificate, design requirements are specified in the
certified project description, which are legally binding
requirements that IDM must meet to maintain compliance with the
certificate. The conditions were developed following consultation
and input from Indigenous groups, government agencies, communities
and the public. IDM is required to obtain other federal, provincial
and local government permits to proceed with construction of the
Project.
"Nisga'a Treaty lands are rich with natural resources.
We are confident that this decision and conditions will provide
significant opportunities for our citizens, with strong protection
of the land, water and wildlife," said Eva Clayton, President of Nisga'a Lisims
Government ("NLG"). "Over 50 years ago, IDM's President and
CEO, Rob McLeod's father and former
mayor of Stewart, Ian McLeod, campaigned for Nisga'a politician
Frank Calder, helping to elect the
first Native to any legislature in Canada. The Nisga'a Nation
looks forward to working together with Rob and IDM Mining for the
benefit of all northerners," said Brian
Tait, Chairperson of NLG.
"I am happy with this decision, which will see significant
jobs and business opportunities along with appropriate safeguards
to protect and support our community," said Gina McKay, Mayor-elect of Stewart, BC. "Stewart is a mining town supported by deep
family roots; Rob's dad is looking down on us and smiling, knowing
that underground miners and their families will be back in town and
going to work every day at Red Mountain."
"Responsible natural resource development is an important
part of our government's plan to develop sustainable economies in
rural B.C, with mining a cornerstone industry in the Northwest. We
applaud the hard work by IDM and all stakeholders that contributed
to this decision to advance the Red Mountain Gold Project,"
said Hon. Doug Donaldson, MLA for
Stikine.
"This is a significant step for the Company and the
realization of the potential of the Red Mountain gold project. With
the successful completion of a rigorous process in a timely way, we
have demonstrated the value and validity of our approach to project
permitting, community engagement and project development" said
Michael McPhie, Chair of IDM's Board
of Directors. "We value our relationships with the people
and officials of the District of Stewart, the Nisga'a Nation and the other
communities of northern British Columbia. Their support made
this possible and we look forward to moving ahead with the
development of the Project in the near term."
"We are grateful for our shareholders, particularly
those who have supported and invested for several years through
difficult markets and have shared our vision of a high-margin gold
mine with significant exploration upside. Also, we are grateful for
the effort of regulators and stakeholders, particularly the
community of Stewart and the
Nisga'a Nation that has led to this decision," said
Robert McLeod, President and CEO of
IDM Mining. "Finally, I am grateful for the inspiration of
my late father Ian and late uncle Don, two dropouts turned
underground miners then eventual elders and leaders in the Golden
Triangle and for whom IDM is named."
This decision concludes a process initiated in 2016 and provides
a defined set of conditions and commitments that will allow for the
commercial development and operation of the Project. With
this important step now complete, the Company is focused on
completion of the requisite operations permitting and final stage
of the Canadian Environmental Assessment (CEA) process.
A copy of the Press Release issued by the BC Environmental
Assessment Office on this decision can be viewed
here: https://news.gov.bc.ca/releases/2018ENV0075-001937
Provincial Environmental Assessment Certificate
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). The Project is currently in the final stage
of the public comment period of the CEAA process which is scheduled
to complete on October 18, 2018. The
federal review timeline is currently at day 262 of 365.
With the provincial environmental assessment now complete and
the federal environmental assessment advancing forward to its final
stage, 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.
IDM acknowledges all of the individuals, groups and consulting
companies that contributed to field work and the EA, including:
Falkirk Resource Consultants, Brownhill Consulting, Catana
Consulting, Odyssey Geoservices, Ecologic, SRK, Knight Piesold,
Onsite Engineering, Allnorth Engineering, Basemet Labs, Yellowhead
Helicopters, Morecore Drilling, Matrix Camp Services, JDS Energy
and Mining, Ausenco, Soucie Construction, Palmer Environmental, EDI
environmental, Greenwood Environmental, WSP, CARO Analytical
Services, Triton Environmental Consultants, Avison Management,
Core6 Environmental, Ecofish Research, Northlink Consultants, Paul
Hughes Consulting, Borealis Environmental, Hatfield Consultants,
and Wayne
Corso.
ABOUT IDM MINING LTD.
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 at Red
Mountain. 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 DIRECTORS
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.
