IDM secures EA certificate for B.C. gold project – Resource World … – Resource World Magazine

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                             <a href=""                                    rel="home">Resource World Magazine</a>                             <br>investment opportunities and news<br>                                 <a href=""                                    rel="home">Resource World Magazine</a>                             <br>                     The IDM Mining Red Mountain Project exploration camp in the southern Golden Triangle region near Stewart, British Columbia. Photo by Ellsworth Dickson.                <br><strong>IDM Mining Ltd.</strong> [IDM-TSXV; IDMMF-OTCQB] said Tuesday October 9 that it has secured a provincial Environmental Assessment Certificate for its development stage Red Mountain gold project in northern British Columbia.<br>IDM Mining shares advanced on the news, rising 8.3% or $0.005 to 6.5 cents on volume of 460,500.  The 52-week range is 6 cents and 13.5 cents.<br>&#8220;This is a significant step for the company and the realization of the potential of the Red Mountain gold project,&#8221; said IDM Chairman Michael McPhie. &#8220;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,&#8221; he said.<br>McPhie said the support of the Nisga&#8217;a Nation and other communities in northern B.C. made this possible. The company looks now looks forward to moving ahead with development in the near future, he said.<br>IDM Mining is focused on advancing the Red Mountain Project towards production. The 17,125-hectare project is located in northwestern B.C., 15 km northeast of the mining town of Stewart. The project is located near a paved highway and grid power.<br>Having recently announced an increased high-grade measured and indicated resource, the company envisions bulk underground mining methods, producing a gold-silver doré bars at the site<br>Red Mountain hosts a NI 43-101 compliant estimated resource of 2.8 million tonnes in the measured and indicated category averaging 7.91 g/t gold and 22.75 g/t silver, for 704,600 ounces of gold and over two million ounces of silver. On top of that is an inferred resource of 316,000 tonnes, averaging 6.04 g/t gold and 7.61 g/t silver, for 61,400 ounces gold and 77,200 ounces of silver.<br>The decision to grant the Environmental Assessment Certificate concludes a process that began in 2016 and provides a defined set of conditions and commitments that will allow for commercial development and operation of the project, IDM said.<br>News that the certificate has been secured comes just days after the company announced details of a non-brokered private placement deal that aims to raise $4.1 million. The private placement will be comprised of flow-through shares priced at $0.07 per share and non-flow through units priced at $0.06 per share.<br>Each common unit will consist of one common share in the company and one half of one non-transferable share purchase warrant, with each whole warrant entitling the holder to acquire one common share at $0.085 per common share for a period of 24 months following the closing date of the offering.<br>Net proceeds will go towards exploration and development activities at Red Mountain, the company said in a press released on October 5, 2018.<br>In a separate development, <strong>Sunvest Minerals Corp.</strong> [SSS-TSXV; OTC-SRKZF] is exploring on the Clone property, which covers 4,621 hectares and lies 16 km southwest of the Red Mountain gold project.<br>Sunvest recently reported results from sampling of historic drill core from its Clone Project. The company said core assays returned 30.3 g/t gold over 4 metres and confirms the existence of multiple zones at the Clone property.<br><span id="email-notes">Your email address will not be published.</span> <span class="required-field-message">Required fields are marked <span class="required">*</span></span><br><label for="comment">Comment <span class="required">*</span></label> <textarea id="comment" name="comment" cols="45" rows="8" maxlength="65525" required></textarea><br><label for="author">Name <span class="required">*</span></label> <input id="author" name="author" type="text" value="" size="30" maxlength="245" autocomplete="name" required /><br><label for="email">Email <span class="required">*</span></label> <input id="email" name="email" type="email" value="" size="30" maxlength="100" aria-describedby="email-notes" autocomplete="email" required /><br><label for="url">Website</label> <input id="url" name="url" type="url" value="" size="30" maxlength="200" autocomplete="url" /><br><input name="submit" type="submit" id="submit" class="submit" value="Post Comment" /> <input type='hidden' name='comment_post_ID' value='53971' id='comment_post_ID' /> <input type='hidden' name='comment_parent' id='comment_parent' value='0' /> <br>Graphite One is forging ahead with plans for a vertically integrated approach to mine and manufacture...<br>By Robert Simpson After reporting a series of promising infill drill results in Q4 for the...<br>New Pacific Metals Corp. 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