VANCOUVER, Sept. 20, 2018 /CNW/ - IDM Mining Ltd.
(TSX.V:IDM) (OTCQB:IDMMF) ("IDM" or the "Company") announces that
the Canadian Environmental Assessment Agency ("CEA Agency") has
initiated the final stage of the Red Mountain Gold Project ("Red
Mountain" or the "Project") environmental assessment process.
Specifically, the CEA Agency has invited the public, Nisga'a Nation
and interested stakeholders to comment on the draft Environmental
Assessment Report and the Potential Conditions that would be
applied and be legally binding following an approval of the Project
by the Minister of Environment and Climate Change.
"We are nearing the completion of both the Provincial and
Federal environmental assessment process for the Red Mountain
Project," said Michael McPhie,
Chair of IDM Mining's Board of Directors. "With a decision
from the Provincial government of British
Columbia expected imminently and the Federal process
entering its final stage, the full value of our high-value gold
development project in BC's Golden Triangle is near to being
realized."
This public comment period runs until October 18, 2018. Links to the draft
Environmental Assessment Report and potential federal conditions
are provided below:
- Draft EA Report:
http://ceaa-acee.gc.ca/050/evaluations/document/125254?culture=en-CA
- Potential conditions:
http://ceaa-acee.gc.ca/050/evaluations/document/125255?culture=en-CA
IDM encourages the public, interested parties and stakeholders
to review and comment during the next month.
In 2017, IDM submitted an 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
37A 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.
Canadian Environmental Assessment Act Review
The Project was referred by the BC Environmental Assessment
Office ("BC EAO") to the Minister of Energy, Mines and Petroleum
Resources and the Minister of Environment for consideration and
approval on August 28, 2018 (see IDM
Press Release on August 29,
2018). The Ministers' have 45 days to make their
decision.
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 now entering the final public
consultation stage of the federal process. IDM anticipates
receiving Federal approval from the Minister of Environment and
Climate in late 2018 or early 2019.
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. 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.