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.
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.
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