IDM Mining Intersects 9.82 meters Averaging 65.1 g/t Au and 313.1 g/t Ag at Newly Identified Lacasse Zone; Mineralization Expanded in Multiple Areas, and New Zones Discovered, Red Mountain Project

IDM Mining
IDM Mining Ltd
TSX-V: IDM

January 22, 2019, Vancouver, BC – IDM Mining Ltd. (TSX.V:IDM) (OTCQB:IDMMF) (“IDM” or the “Company”) is pleased to announce the final underground drilling results from the 2018 season at the Red Mountain Gold Project (“Red Mountain” or the “Project”), located 15 km east of Stewart, BC.  The Company received assays from 40 underground core holes that targeted multiple zones for resource expansion, conversion and exploration. 

Highlights of the recent drilling results include:

  • U18-1337: 8.52 meters averaging 6.41 g/t Au and 39.48 g/t Ag in SF Zone step-out to north  
  • U18-1341: 97.0 meters averaging 1.16 g/t Au including 4.50 meters averaging 5.59 g/t Au in Smit Zone down-dip step-out
  • U18-1347: 85.00 meters averaging 1.57 g/t Au including 14.05 meters averaging 3.60 g/t Au in Smit Zone down-dip step-out
  • U18-1348: 29.50 meters averaging 12.10 g/t Au and 3.29 g/t Ag, including 1.50 meters averaging 177.83 g/t Au and 23.03 g/t Ag in JW/Smit Zone
  • U18-1361: 9.82 meters averaging 65.13 g/t Au and 313.09 g/t Ag including 1.74 meters averaging 277.06 g/t Au and 1,442.02 g/t Ag in new Lacasse Zone
  • U18-1361: 69.0 meters averaging 3.76 g/t Au and 21.60 g/t Ag, including 18.50 meters averaging 9.07 g/t Au and 24.18 g/t Ag in AV Zone expansion hole
  • U18-1366: New Preef Zone Discovery: 7.40 meters averaging 2.49 g/t Au and 5.46 g/t Ag in massive pyrite mineralization
  • U18-1367: 6.0 meters averaging 36.43 g/t Au and 1.10 g/t Ag including 1.50 meters averaging 133.69 g/t Au and 2.45 g/t Ag in exploration hole between Marc and 141 Zones
  • U18-1368: New Biggie Zone Discovery: 0.70 meters averaging 6.57 g/t Au and 32.75 g/t Ag located 250 meters east of the Marc Zone
  • U18-1369: 168.50 meters averaging 0.78 g/t Au, including 1.93 meters of 9.20 g/t Au and 1.00 meters of 11.74 g/t Au in Smit Zone down-dip step-out

In 2018, a revised geological interpretation of Red Mountain identified high-amplitude, post mineralization folds that have deformed the mineralized zones, rather than the previous model that interpreted parallel zones.  Exploration success in the SF, Smit and Marc-141 (Chicka) syncline, as well as discovery of the Lacasse and Preef Zones, has validated this model and has opened up multiple areas for future drilling targeting resource expansion.

SF Zone

The SF Zone is currently comprised of inferred resources; one step-out hole and one resource conversion hole were completed during the 2018 program.  Hole U18-1337 intersected 8.52 meters averaging 6.41 g/t Au and 39.48 g/t Ag in a step-out to the north along strike.  Resource conversion hole U18-1339 intersected 1.50 meters averaging 18.31 g/t Au and 4.21 g/t Ag.  The SF Zone is interpreted to be open to the east, where the zone is folded by an antiform, and to the north towards the Bolton Fault.  This fault offsets the mineralized horizon to the Bray Zone.

AV, JW and Smit Zones

The AV, JW and Smit Zones form wide, tabular, shallow westerly dipping zones of disseminated mineralization.  Most holes completed in these areas during 2018 targeted the expansion of known mineralization and the conversion of inferred resources.  Drill holes in the Smit Zone intersected wide zones (10 to +150 meters) of 0.5 to 3.0 g/t Au, with multiple higher grade (>3.0 g/t Au) subparallel horizons within. For example, the furthest down-dip hole completed to-date at the Smit Zone is U18-1341, which encountered 97.0 meters averaging 1.16 g/t Au, including 4.50 meters averaging 5.59 g/t Au.  Drill hole U18-1348 targeted the JW/Smit Zone transition in an area without current resources.  This hole intersected a high-grade section of 1.50 meters averaging 177.83 g/t Au within a wider zone of 29.50 meters averaging 12.10 g/t Au.  Similarly, projected resources from the 2018 estimate were below the 3.0 g/t reporting cutoff within the target area of U18-1356; this hole intersected 10.06 meters averaging 5.16 g/t Au and 6.67 g/t Ag.

The highest grades in the Smit Zone are generally associated with areas of the mineralized horizon with more lithologic variability, such as intrusive and contact breccias or contacts with the coarser phase of Goldslide porphyry diorite. Areas of massive sections of sediments or Hillside intrusive are mineralized, but at lower grades.  The Smit Zone remains open for expansion down-dip, and project up towards the down-plunge extension of the 141 syncline.

Lacasse Zone

The newly identified Lacasse Zone (named after 2018 Program Manager, Marilyne Lacasse) is highlighted by one of the highest-grade drill holes ever completed at Red Mountain.  Starting only 25 meters from the underground decline, drill hole U18-1361 returned 9.82 meters averaging 65.13 g/t Au and 313.09 g/t Ag, with a higher-grade interval of 1.74 meters averaging 277.06 g/t Au and 1,442.02 g/t Ag.  This interval includes the highest-grade silver values ever received from drilling on the Property. 

The Lacasse Zone occurs in the hanging wall to the AV Zone, and appears to be at an oblique angle to the orientation of the major zones at Red Mountain.  It was encountered in a definition drill hole, targeting the AV zone, located near the Rick Fault (which offsets the Marc Zone).  Within the same hole U18-1361 the AV zone intersection returned 69.0 meters averaging 3.76 g/t Au and 21.60 g/t Ag, including 18.50 meters averaging 9.07 g/t Au and 24.18 g/t Ag.  The AV Zone intercept will expand the resource shell thickness, and further along strike to the south.

Drill hole U18-1358 also intersected the Lacasse Zone and returned two intercepts, including 4.0 meters averaging 11.27 g/t Au and 24.03 g/t Ag.  The 2018 intercepts likely connect with historic surface and underground intercepts in the hanging wall to the AV zone that were not understood and are currently not included in the Red Mountain Resource estimate, such as 6.0 meters averaging 13.42 g/t Au and 34.01 g/t Ag in MC90-049, and 5.00 meters averaging 12.99 g/t Au and 32.04 Ag in MC92-71.  Future drilling would target expansion and further definition of this zone.

Marc-141 (Chicka) Syncline

The 2018 geological reinterpretation of post-mineralization folding at Red Mountain suggested a substantial area of near-surface exploration potential within a large amplitude (>250 meters) syncline, with Marc and the 141 zones on the east and west side, respectively.  Several holes tested the Chicka syncline with encouraging results.  Near the Smit zone, drill hole U18-1367 intersected 6.0 meters averaging 36.43 g/t Au, including 1.50 meters averaging 133.69 g/t Au.  Approximately 100 meters to the south, U18-1354 intersected 2.1 meters averaging 10.53 g/t Au, within a broad interval of 57.75 meters of 1.49 g/t Au. 

Further south, a new zone of massive pyrite mineralization, which is commonly associated with high-grade gold at Red Mountain was discovered.  The Preef Zone (named after Lac Minerals-era geologist and mining executive, Marc Prefontaine), returned 7.40 meters averaging 2.49 g/t Au and 5.46 g/t Ag, including 3.15 meters averaging 3.58 g/t Au and 5.81 g/t Ag in hole U18-1366.

Systematic drilling to develop near-surface resources within the Chicka syncline is recommended for future underground drilling programs at Red Mountain.

Other Areas

Significant exploration potential exists to the north and east of current resources.  Causative and host intrusive units (Hillside and Goldslide porphyry phases) have been traced through recent glacial melt for over a kilometer in both directions, associated with strong alteration, sulphides and anomalous gold.  To the east, a new Zone was discovered in reconnaissance exploration hole U18-1368.  Located between coarse phases of Goldslide diorite; the Biggie Zone (named after miner and Shift Boss Brian Bigattini), intersected strong sulphides and returned 0.70 meters averaging 6.57 g/t Au and 32.75 g/t Ag.

To the north of the Red Mountain resources, the Marc anticline folds the host breccia horizon, most recently identified in the SF zone drill success in 2018.  Drill hole U18-1365 did not intersect high-grade mineralization but did intersect anomalous mineralization suggesting that it was drilled over the top of the synform.  Further underground drifting to the north of the high-grade Marc, AV and JW zone resources is recommended for future programs on the Property.

For complete drill results, go to: http://www.idmmining.com/news/index.php?content_id=392

Originally published on: http://www.idmmining.com